Marine Military Academy Foundation
- Assets
- $6.3m
- Revenue
- $440.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Harlingen, TX
- Founding
- 03/2008
- Data as of
- 12/2020
- EIN
- 06-1803198
Organization Overview
Marine Military Academy Foundation is located in Harlingen, TX. The organization was established in 2008. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Military Academy Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Marine Military Academy Foundation generated $440.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $577.0k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MARINE MILITARY ACADEMY FOUNDATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF MARINE MILITARY ACADEMY, INC., A COLLEGE PREPARATORY BOARDING SCHOOL FOR YOUNG MEN GRADES 7 THROUGH 12.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARINE MILITARY ACADEMY FOUNDATION PROVIDES SCHOLARSHIP FUNDS FOR STUDENTS TO ATTEND THE MARINE MILITARY ACADEMY, INC. AND FUNDS TO SUPPORT THE OPERATIONS OF THE MARINE MILITARY ACADEMY, INC. ALL EXPENSES ARE ATTRIBUTABLE TO THE MARINE MILITARY ACADEMY FOUNDATION. THE MARINE MILITARY ACADEMY IS A COLLEGE PREPARATORY BOARDING SCHOOL FOR YOUNG MEN IN GRADES 7-12 AND SERVED 239 ACADEMIC YEAR CADETS AND 398 SUMMER CAMPERS DURING 2020. THE ACADEMY DEVELOPS DISCIPLINED, MORALLY STRONG, COLLEGE READY YOUNG MEN WHO ARE PREPARED FOR RESPONSIBLE LEADERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ricky Leal Secretary | OfficerTrustee | 0.5 | $0 |
John D Butler Treasurer | OfficerTrustee | 0.5 | $0 |
Christopher S Dowling President | OfficerTrustee | 0.5 | $0 |
Edgar D Aronson Director | Trustee | 0.5 | $0 |
Thomas M Brownell Director | Trustee | 0.5 | $0 |
John Heiner Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,058 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,058 |
| Total Program Service Revenue | $0 |
| Investment income | $70,741 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $368,775 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $440,574 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $276,464 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,500 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,413 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $275,444 |
| Total functional expenses | $577,021 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,142 |
| Savings and temporary cash investments | $579,158 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,679,027 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,259,327 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,500 |
| Total liabilities | $2,500 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $6,256,827 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,259,327 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Marine Military Academy Foundation has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $1,000 |
Endowment Analysis
| Beg. Balance | $6,250,573 |
| Earnings | $579,517 |
| Admin Expense | $300,557 |
| Net Contributions | $3,758 |
| Grants | $276,464 |
| Ending Balance | $6,256,827 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Arkansas Foundation Inc Fayetteville, AR | $2,089,992,333 | $297,590,096 |
Texas A & M Research Foundation College Station, TX | $17,651,760 | $64,742,890 |
Tiger Athletic Foundation Baton Rouge, LA | $492,455,521 | $67,955,012 |
Vanguard Academy Pharr, TX | $58,411,993 | $65,696,988 |
Southwestern Medical Foundation Dallas, TX | $1,318,497,986 | $133,001,887 |
Unm Rainforest Innovations Albuquerque, NM | $22,586,721 | $58,002,418 |
University Of New Mexico Foundation Incorporated Albuquerque, NM | $270,142,035 | $53,815,950 |
University Of Texas Foundation Austin, TX | $88,879,484 | $47,692,096 |
L S U Foundation Baton Rouge, LA | $804,249,383 | $72,730,367 |
Southeastern Louisiana Area Health Education Center Natalbany, LA | $8,364,528 | $32,019,241 |
University Of Arkansas Fayetteville Campus Foundation Inc Fayetteville, AR | $748,157,500 | $15,686,060 |
Razorback Foundation Inc Fayetteville, AR | $72,537,377 | $26,130,749 |