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Michigan · Nonprofit

HILLSDALE COLLEGE

HILLSDALE COLLEGE (Michigan) receives grants from 1808 organizations whose IRS filings report $386,254,933 to it, the largest being UNIVERSITY DEVELOPMENT FOUNDATION ($99,777,894). 1171 of them have funded it in more than one year. HILLSDALE COLLEGE administers funds for other donors, so those contributions arrive into funds it holds rather than supporting a program it runs itself.

$424M
Revenue FY2025
1,808
Funders on record
$386M
Grants received
$1.9B
Net assets
1171/1808 repeat funders

Hosts funds for others

HILLSDALE COLLEGE administers funds on behalf of other donors. The grants recorded as coming in are contributions into those funds, so they count custody rather than support for a programHILLSDALE COLLEGE runs itself. This page therefore states the flows and does not draw the comparisons it would draw for an operating charity: concentration, funder retention, grant dependency and the peer field are all left out, because each of them would read a vehicle as if it were a program.

Paid out

$4.0M

Recipients

61

Contributions on record

$428M

Donors on record

1,827

Payments out are 0.01x the contributions on record, so the balance accumulates rather than passing straight through.

Three funders worth looking at

Grantmakers with no record of funding this organization, ranked by how strongly the co-funder graph and the mission embeddings agree. The evidence is in section 03.

See all 12 prospects and why each one surfaced →
01The organization over time

The organization over time

Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.

100 = 20172017 Revenue 100 ($231M) Expenses 100 ($143M) Net assets 100 ($916M)2018 Revenue 95 ($219M) Expenses 106 ($152M) Net assets 110 ($1.0B)2019 Revenue 91 ($211M) Expenses 116 ($166M) Net assets 115 ($1.1B)2020 Revenue 124 ($287M) Expenses 120 ($173M) Net assets 123 ($1.1B)2021 Revenue 159 ($368M) Expenses 134 ($192M) Net assets 154 ($1.4B)2022 Revenue 158 ($366M) Expenses 149 ($214M) Net assets 159 ($1.5B)2023 Revenue 139 ($321M) Expenses 173 ($249M) Net assets 173 ($1.6B)2024 Revenue 171 ($394M) Expenses 189 ($271M) Net assets 190 ($1.7B)2025 Revenue 183 ($424M) Expenses 204 ($293M) Net assets 213 ($1.9B)
'17'18'19'20'21'22'23'24'25
Revenue (183)Expenses (204)Net assets (213)

How it's funded, over time

Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.

2017
2018
2019
2020
2021
2022
2023
2024
2025
ContributionsProgram revenueInvestmentOther

Surplus & reserves

Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 9 reported years ran a deficit.

$88M
17
$67M
18
$44M
19
$115M
20
$176M
21
$152M
22
$72M
23
$123M
24
$131M
25
5.2
months of
reserve
02Who funds it

Who funds it, year by year

2017 → 2023: the base broadened from 306 funders to 849 funders, grant income rose $14M → $49M.

147 of 1808 of your funders are donor-advised or pass-through sponsors (tagged DAF)24% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.

Left out of every figure on this page: $34M from one payer (an institutional transfer, not a grant programme, largest Charles O Lee Jr & Louise K Lee Charitable Foundation). These are real filings, and they are not money HILLSDALE COLLEGE raised.

From the IRS filings of HILLSDALE COLLEGE’s funders (the co-funder graph). Top 30 of 1808 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

Where its funders are

HILLSDALE COLLEGE draws 77% of its grant income from funders outside Michigan, across 51 states in all.

AK
ME
VT
NH
WA
ID
MT
ND
MN
IL
WI
MI
NY
MA
OR
NV
WY
SD
IA
IN
OH
PA
NJ
CT
RI
CA
UT
CO
NE
MO
KY
WV
VA
MD
DE
AZ
NM
KS
AR
TN
NC
SC
DC
HI
OK
LA
MS
AL
GA
TX
FL

In-state vs out-of-state, by year

17
18
19
20
21
22
23
Michigan out of state home

Funder states come from each funder’s own filing. $92M arriving through sponsors registered in 34 statesis excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.

03Its place in the field

Funders to approach

Grantmakers that don’t fund you yet, surfaced two ways: they back organizations that share your funders, or their grantees resemble your mission. The ones both signals agree on come first. Your 1808 funders put you well-backed among the 400 organizations that share them.

From the co-funder graph (funders backing at least two comparable organizations, shrunk for grantee count, donor-advised and mega-funds excluded) and the universe embeddings. A research starting point; overlap is association, not a guarantee of fit.

Government funding HILLSDALE COLLEGE receives

Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $61k on record.

State$61k
Top programs
  • REFUNDS - GENERAL $61k

Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.

04Profile & governance

Read directly from this organization’s own Form 990, as neutral context.

Where the money goes

60% of spending goes to programs.

Program 60%Management 13%Fundraising 27%

Governance

35
board members
94%
independent
Conflict-of-interest policyWhistleblower policyDocument retentionBoard reviewed the 990Audited financials

Public support

95%

Share of support from the public (Schedule A) — the basis for its public-charity status.

Footprint & structure

Files a return copy in 10 states

AK
NH
WA
MN
MA
NV
CO
MD
SC
DC

Part of a family of 7 related entities

  • Saginaw River Holdings · disregarded
  • 842 2nd Avenue LLC · disregarded
  • Hillsdale College Independence Foundation · exempt
  • Lee Stillman-Roland R Witte Scholarship Foundation · exempt
  • The Jack E & Greta W Stalsby Charitable Foundation Trust · exempt

Screen this organization

A dated, signed PDF of the compliance screen for HILLSDALE COLLEGE: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.

A paid feature, included from the $75 plan up. Sign in to download.

Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. How the screen works · on the API as GET /api/screening/{ein}?format=pdf

Questions and answers

Who funds HILLSDALE COLLEGE?
HILLSDALE COLLEGE (Michigan) receives grants from 1808 organizations whose IRS filings report $386,254,933 to it, the largest being UNIVERSITY DEVELOPMENT FOUNDATION ($99,777,894). 1171 of them have funded it in more than one year. HILLSDALE COLLEGE administers funds for other donors, so those contributions arrive into funds it holds rather than supporting a program it runs itself.
How many funders does HILLSDALE COLLEGE have?
IRS filings report 1808 organizations giving $386,254,933 in grants to HILLSDALE COLLEGE, 1171 of which have funded it in more than one year.
Who is the largest funder of HILLSDALE COLLEGE?
UNIVERSITY DEVELOPMENT FOUNDATION is the largest funder on record, with $99,777,894 in grants. The full list of funders is on this page.
How can an organization like HILLSDALE COLLEGE find more funders?
Start with the funders already giving here, then look at the foundations that back similar organizations in Michigan. The funding by cause and by state pages list the largest funders for a given area and how to approach them.

These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 1808funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported August 27, 2026. What this page cannot tell you · view filing