United States Naval Academy Foundation Inc
73% goes to programs $20 to raise $100 Strong reserves
United States Naval Academy Foundation Inc is a 501(c)(3) organization based in Annapolis, Maryland, registered in 1969, with $60,735,637 in FY2023 revenue. CharityIndex grades it B+, and it directs about 73% of spending to programs.
301 King George St, Annapolis, MD, 21402 EIN 23-7003516 Since 1969
Revenue (FY2023)
$60.7M
▲ 42.2% vs prior year
Education median: $200K
Expenses (FY2023)
$43.6M
Net assets
$343.1M
Employees
66
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating73% to programs · $20 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For United States Naval Academy Foundation Inc: 73% to programs · $20 to raise $100 earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating94 mo reserves · +28% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For United States Naval Academy Foundation Inc: 94 mo reserves · +28% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For United States Naval Academy Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For United States Naval Academy Foundation Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To support, promote, and advance the mission of the naval academy.
Contact & location
- Address
- 301 King George St, Annapolis, MD, 21402
- City
- Annapolis
- State
- Maryland
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $46.0M (FY2013) to $60.7M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $26.0MNet assets $343.1M
Operating margin
28.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$369.1M
Total liabilities
$26.0M
Net assets
$343.1M
Salaries & benefits
$6.1M
14% of expenses
Board members
49
48 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $60,735,637▲42.2% | $43,615,672▼1.1% | $343,146,121▲8.6% | $369,145,916▲12.7% | 990 |
| 2022 | $42,720,596▼10.3% | $44,107,220▼9.9% | $315,829,456▲7.0% | $327,456,944▲7.0% | 990 |
| 2021 | $47,603,619▼10.3% | $48,937,066▲49.1% | $295,213,497▼7.9% | $305,968,176▼7.8% | 990 |
| 2020 | $53,070,983▼20.8% | $32,813,829▼32.8% | $320,482,202▲22.2% | $331,714,377▲22.0% | 990 |
| 2019 | $66,993,780▲25.5% | $48,811,477▲0.9% | $262,264,311▲5.6% | $271,795,250▲5.3% | 990 |
| 2018 | $53,398,115▼12.1% | $48,389,329▲38.4% | $248,288,987▲5.0% | $258,055,027▲5.3% | 990 |
| 2017 | $60,767,594▲7.3% | $34,960,408▼10.8% | $236,456,900▲14.2% | $245,078,348▲13.0% | 990 |
| 2016 | $56,632,468▲4.7% | $39,184,404▼3.5% | $207,139,411▲16.2% | $216,797,560▲15.6% | 990 |
| 2015 | $54,075,568▲16.5% | $40,617,843▲50.8% | $178,293,797▲3.4% | $187,584,848▲3.9% | 990 |
| 2014 | $46,416,712▲1.0% | $26,933,857▼11.7% | $172,506,844▲7.1% | $180,489,959▲5.4% | 990 |
| 2013 | $45,956,188 | $30,516,058▲33.0% | $161,110,319▲13.9% | $171,175,970▲15.1% | 990 |
| 2012 | — | $22,948,418▲22.3% | $141,415,612▲14.6% | $148,778,148▲13.5% | 990 |
| 2011 | — | $18,767,126▲9.5% | $123,382,482▲0.1% | $131,098,484▼1.0% | 990 |
| 2010 | — | $17,133,643▲0.8% | $123,304,450▲12.0% | $132,389,185▲10.0% | 990 |
| 2009 | — | $17,002,803 | $110,051,652 | $120,316,556 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: William O'connor — $382,539 (0.88% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| William O'connor | Sec/evp Dev (see Sch J) | 50 | $382,539 |
| Jeffrey R Webb | President/ceo (see Sch J) | 36 | $337,238 |
| Donald Hughes | Vp Athletic & Scholarship Pr (see Sch J) | 50 | $222,194 |
| Mike Hoffman | Vp, Regional Dev (see Sch J) | 50 | $175,911 |
| Robert W Gast | Evp & Cfo/treas (thru 5/10/24) (see Sch J) | 33 | $161,163 |
| Adrianna Bitoun | Ed, Star Team (see Sch J) | 50 | $137,569 |
| Natalie Brianas | Ed, Donor Eng & Strat Ptnr (see Sch J) | 50 | $133,088 |
| Ashley J Bauer | Managing Regional Dir, Development | 50 | $129,082 |
| Lisa Strobel | Exec Director of Finance (see Sch J) | 27.5 | $109,217 |
| Joy Jones | Ed, Human Resources (see Sch J) | 27.5 | $85,474 |
| Timothy Smith | Dr, Financial Reporting (see Sch J) | 27.5 | $85,043 |
| Garrett Keating | Director, It (see Sch J) | 27.5 | $82,950 |
| Jordan Bailey | Sr Ad, Enterprise Network & Security | 27.5 | $72,180 |
| Adm Cecil D Haney Usn Ret | Director | 2 | — |
| Adm James O Ellis Jr Usn Ret | Director | 2 | — |
| Adm Mark E Ferguson III Usn Ret | Director | 2 | — |
| Adm Michael G Mullen Usn Ret | Director | 2 | — |
| Adm Robert J Natter Usn Ret | Director | 2 | — |
| Adm William F Moran Usn Ret | Director | 2 | — |
| Amb Richard L Armitage | Director | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Ruffalo Noel Levitz LLC | Fundraising Consultants | $267,258 |
| Main & Market | Catering | $250,698 |
| Honorcraft LLC | Donor Recognition Products/services | $195,321 |
| Martin's - Bo Brooks LLC | Catering | $146,632 |
| Evertrue Inc | Database Consultant | $108,915 |
Grants received · $61.2M total
247 grants to United States Naval Academy Foundation Inc totaling $61.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
Grants made · $31.5M in FY2023
2 grants totaling $31.5M in FY2023. All grants made by United States Naval Academy Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Us Naval Academy | General support | $28,271,130 |
| United States Naval Academy Alumni Assoc | General support | $3,266,662 |
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Frequently asked questions
- Is United States Naval Academy Foundation Inc a legitimate nonprofit?
- Yes. United States Naval Academy Foundation Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 23-7003516, based in Annapolis, Maryland. Donations are tax-deductible.
- What is United States Naval Academy Foundation Inc's EIN?
- United States Naval Academy Foundation Inc's Employer Identification Number (EIN) is 23-7003516.
- How much revenue does United States Naval Academy Foundation Inc report?
- United States Naval Academy Foundation Inc reported $60,735,637 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of United States Naval Academy Foundation Inc's spending goes to programs?
- United States Naval Academy Foundation Inc spends about 73% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does United States Naval Academy Foundation Inc have?
- CharityIndex grades United States Naval Academy Foundation Inc B+, based on program efficiency and fundraising cost.
- How much does United States Naval Academy Foundation Inc's highest-paid employee make?
- The highest reported compensation on United States Naval Academy Foundation Inc's latest Form 990 is $382,539, paid to William O'connor (Sec/evp Dev (see Sch J)).
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Data for United States Naval Academy Foundation Inc (EIN 23-7003516) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.