The Naval Institute Foundation Incorporated
- Assets
- $16.5m
- Revenue
- $8.5m
- Investments
- $1.2m
- Employees
- 0
- Location
- Annapolis, MD
- Founding
- 06/1993
- Data as of
- 12/2021
- EIN
- 52-1814344
Organization Overview
The Naval Institute Foundation Incorporated is located in Annapolis, MD. The organization was established in 1993. According to its NTEE Classification (T11) the organization is classified as: Single Organization Support, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Naval Institute Foundation Incorporated 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 12/2021, Naval Institute Foundation Incorporated generated $8.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $15.4m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS AND FURTHER THE MISSION OF THE UNITED STATES NAVAL INSTITUTE (THE INSTITUTE).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION RAISED FUNDS TO SUPPORT THE ACTIVITIES OF THE UNITED STATES NAVAL INSTITUTE. THIS ORGANIZATION IS A SEC. 509(A)(3) SUPPORTING ORGANIZATION. MISSION: PROVIDE AN INDEPENDENT FORUM FOR THOSE WHO DARE TO READ, THINK, SPEAK AND WRITE TO ADVANCE THE PROFESSIONAL, LITERARY, AND SCIENTIFIC UNDERSTANDING OF SEA POWER AND OTHER ISSUES CRITICAL TO GLOBAL SECURITY.VISION: GIVING VOICE TO ALL WHO SEEK THE FINEST NAVY, MARINE CORPS, AND COAST GUARD.THE NAVAL INSTITUTE FOUNDATION CONCLUDED A 4-YEAR CAMPAIGN IN 2021 TO RAISE MONEY TO SUPPORT THE NAVAL INSTITUTE. IN ADDITION TO THE MANY MISSION ACTIVITIES THIS CAMPAIGN ENABLED FOR THE INSTITUTE, A CAPITAL PROJECT TO RAISE MONEY FOR AND CONSTRUCT THE JACK C. TAYLOR CONFERENCE CENTER WAS COMPLETED FOR $30M. THE CAMPAIGN SIGNIFICANTLY INCREASED ASSETS IN 2018-2019, AND THEN THE OUTLAYS REQUIRED TO CONSTRUCT THE CONFERENCE CENTER REDUCED ASSETS IN 2020-2021 AS REFLECTED ON LINE 19 OF PAGE 1. THE CENTER OPENED IN FALL 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vadm Peter H Daly Usn Ret Ceo, Director | OfficerTrustee | 12 | $0 |
Heather Lancaster Coo, Secretary, Director | OfficerTrustee | 35 | $0 |
Michael M Wiseman ESQ Vice-Chairman, Director | OfficerTrustee | 1 | $0 |
Gen Peter Pace Usmc Ret Chairman, Director | OfficerTrustee | 2 | $0 |
Douglas Wallen Treasurer | Officer | 8 | $0 |
Cdr Gregory E Glaros Usn Ret Director | Trustee | 1 | $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 | $8,347,814 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,347,814 |
| Total Program Service Revenue | $0 |
| Investment income | $112,136 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,459,950 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $13,988,933 |
| 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. | $296,258 |
| Compensation of current officers, directors, key employees. | $29,626 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $620,046 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $117,245 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $51,212 |
| Fees for services: Accounting | $22,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,875 |
| Fees for services: Other | $18,196 |
| Advertising and promotion | $2,772 |
| Office expenses | $66,627 |
| Information technology | $87,530 |
| Royalties | $0 |
| Occupancy | $7,288 |
| Travel | $2,922 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,324 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,169 |
| Insurance | $19,548 |
| All other expenses | $749 |
| Total functional expenses | $15,378,539 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,361,271 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,511,038 |
| 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 | $416 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,431,080 |
| Investments—other securities | $1,174,515 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,478,320 |
| 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 | $6,250,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,827,227 |
| Total liabilities | $8,077,227 |
| Net assets without donor restrictions | $1,955,520 |
| Net assets with donor restrictions | $6,445,573 |
| 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 | $16,478,320 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that The Naval Institute Foundation Incorporated has recieved totaling $106,350.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $50,000 |
Greystone Foundation Minneapolis, MN PURPOSE: GENERAL OPERATIONS OF THE ORGANIZATION | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $23,250 |
William Penn Foundation Philadelphia, PA PURPOSE: GENERAL SUPPORT OF THE ORGANIZATION | $5,000 |
William Penn Foundation Philadelphia, PA PURPOSE: GENERAL SUPPORT | $3,000 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $100 |
Endowment Analysis
| Beg. Balance | $986,376 |
| Earnings | $109,289 |
| Other Expense | $54,780 |
| Ending Balance | $1,040,885 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Naval Institute Foundation Incorporated Annapolis, MD | $16,478,320 | $8,459,950 |
Baltimore City Foundation Inc Baltimore, MD | $20,625,141 | $25,532,138 |
The Harry Halloran Jr Charitable Trust Philadelphia, PA | $26,412,399 | $8,412,088 |
The Richman Family Foundation Inc Baltimore, MD | $21,774,672 | $824,650 |
Venture Philanthropy Partners Inc Washington, DC | $4,166,381 | $6,325,429 |
Rodel Charitable Foundation De Wilmington, DE | $15,413,230 | $5,493,740 |
Dbs Foundation Holdings Harrisburg, PA | $361,345 | $2,360,629 |
Commonwealth Foundation V Richmond, VA | $38,532,929 | $6,620,642 |
Commonwealth Foundation Iv Richmond, VA | $38,533,029 | $6,621,693 |
Helena Devereux Foundation Villanova, PA | $208,303,000 | $15,868,103 |
R E B Foundation Richmond, VA | $74,287,615 | $7,129,947 |
Ncf Supporting Organization Wilmington, DE | $1,802,740 | $4,444,698 |