Naval War College Foundation Inc
- Assets
- $47.6m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 16
- Location
- Newport, RI
- Founding
- 03/1970
- Data as of
- 12/2020
- EIN
- 23-7063084
Organization Overview
Naval War College Foundation Inc is located in Newport, RI. The organization was established in 1970. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 12/2021, Naval War College Foundation Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naval War College Foundation Inc 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, Naval War College Foundation Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $3.4m during the year ending 12/2020. While expenses have increased by 6.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
SEE SCHEDULE O.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS TO THE NAVAL WAR COLLEGE TO ENHANCE THE EDUCATIONAL BENEFIT IN ITS WORLD-RENOWNED ACADEMIC, RESEARCH, ANALYSIS AND WAR GAMING PROGRAMS.
INFORMATION OUTREACH AND OTHER PROGRAMS DESIGNED TO INCREASE AWARENESS OF THE NAVAL WAR COLLEGE NATIONALLY AND INTERNATIONALLY.
THE FOUNDATION OPERATES A STORE IN THE NAVAL WAR COLLEGE MUSEUM WHICH SELLS NAVAL WAR COLLEGE GIFTS AND MEMORABILIA AND U.S. NAVAL HISTORY PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Capt George E Lang Jr Usn Ret Chief Executive Officer | OfficerTrustee | 40 | $252,986 |
Carla Knorowski President And Cdo | Officer | 40 | $227,925 |
Victor Stanescu CFO & Exec. Dir., Development | Officer | 40 | $211,645 |
Mr Philip M Bilden Chairman | OfficerTrustee | 5 | $0 |
Mrs Nancy W Cushing Evans Secretary (until June 2021) | OfficerTrustee | 5 | $0 |
Mr Mitchell B Waldman Secretary | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Slocum Gordon & Co Investment Mgmt | 12/30/18 | $143,262 |
Harlan Ullman Distinguished Visiting Scholar | 12/30/18 | $105,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,265,052 |
| Investment income | $1,427,493 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $188,239 |
| Net Income from Fundraising Events | -$12,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,940 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,900,088 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $22,650 |
| Grants and other assistance to Foreign Orgs/Individuals | $6,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $846,573 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $414,065 |
| Pension plan accruals and contributions | $11,270 |
| Other employee benefits | $42,820 |
| Payroll taxes | $71,565 |
| Fees for services: Management | $114,377 |
| Fees for services: Legal | $20,800 |
| Fees for services: Accounting | $62,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $190,088 |
| Fees for services: Other | $0 |
| Advertising and promotion | $50,403 |
| Office expenses | $100,507 |
| Information technology | $10,379 |
| 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 | $11,434 |
| Insurance | $3,556 |
| All other expenses | $0 |
| Total functional expenses | $3,447,135 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $755,279 |
| Savings and temporary cash investments | $4,903,965 |
| Pledges and grants receivable | $858,285 |
| Accounts receivable, net | $77,870 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $81,222 |
| Prepaid expenses and deferred charges | $27,955 |
| Investments—publicly traded securities | $40,841,489 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $67,598 |
| Total assets | $47,645,265 |
| Accounts payable and accrued expenses | $151,979 |
| 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 | $124,046 |
| Total liabilities | $276,025 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $47,369,240 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Naval War College Foundation Inc has recieved totaling $1,464,240.
| Awarding Organization | Amount |
|---|---|
Alletta Morris Mcbean Charitable Trust La Quinta, CA PURPOSE: TO UPGRADE AND DEVELOP COMMUNICATION INTERNAL STRUCTURES AND PROCESSES AND EXTERNAL MARKETING PRODUCTS TO BETTER SERVE THE COLLEGE | $300,000 |
Van Beuren Charitable Foundation Inc New York, NY PURPOSE: DIGITIZING THE NWCF COLLECTION, ANNUAL FUNDS | $276,500 |
Pritzker Military Foundation Chicago, IL PURPOSE: GENERAL SUPPORT | $205,000 |
Sherif Foundation New York, NY PURPOSE: UNRESTRICTED CONTRIBUTION TO PUBLIC CHARITY | $125,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $94,650 |
Alletta Morris Mcbean Charitable Trust La Quinta, CA PURPOSE: TO UPGRADE AND DEVELOP COMMUNICATION INTERNAL STRUCTURES AND PROCESSES AND EXTERNAL MARKETING PRODUCTS TO BETTER SERVE THE COLLEGE | $75,000 |
Endowment Analysis
| Beg. Balance | $32,029,658 |
| Earnings | $3,438,894 |
| Admin Expense | $399,105 |
| Net Contributions | $1,258,363 |
| Other Expense | $812,125 |
| Ending Balance | $35,515,685 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marlboro College Foxborough, MA | $37,753,712 | $8,202,208 |
Sattler College Inc Boston, MA | $4,505,835 | $11,233,247 |
Hebrew College Newton, MA | $18,470,927 | $14,279,250 |
Naval War College Foundation Inc Newport, RI | $47,645,265 | $3,900,088 |
Rhode Island College Foundation Providence, RI | $46,078,068 | $6,584,099 |
Ma Maritime Academy Foundation Inc Buzzards Bay, MA | $42,100,464 | $7,083,053 |
Fitchburg State University Foundation Inc Fitchburg, MA | $26,762,004 | $3,824,038 |
American Friends Of St Hildas College Inc Cambridge, MA | $145,597 | $1,157,203 |
Green Mountain College Foxborough, MA | $232,434 | -$12,605,117 |
The Westfield State Foundation Inc Westfield, MA | $18,215,222 | $4,228,113 |
Connecticut Conference Of Independent Colleges Inc West Hartford, CT | $872,993 | $587,054 |
College Year In Athens Inc Cambridge, MA | $129,120 | $84,666 |