Civic Intelligence

Naval Academy Sailing Foundation Inc

EIN 23-7328323 • 501(c)3 • Arnold, MD

Profile

To further the mission of the united states naval academy; primarily through direct support to the sail training program at the naval academy.

PO Box 195Arnold, MD 21012

www.navalacademysailingfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

11th percentile

0.01x

Higher debt load relative to assets than 11% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

37th percentile

0.17x

Higher debt load relative to revenue than 37% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

2nd percentile

-163%

Higher net margin than 2% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

20th percentile

$150,000

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 13.8% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

28th percentile

-0.5%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

533%

Faster revenue growth than 98% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets11th percentile

Assets

Down

$33,192,620

Down $173,673 (-0.5%) from 2023

Liabilities

Up

$183,486

Up $64,828 (+55%) from 2023

Net Assets

Down

$33,009,134

Down $238,501 (-0.7%) from 2023

Operations
Liabilities / Revenue37th percentileNet Margin2nd percentile

Revenue

Up

$1,084,319

Up $912,914 (+533%) from 2023

Expenses

Up

$2,856,137

Up $39,145 (+1.4%) from 2023

Net Income

Up

-$1,771,818

Up $873,769 (+33%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth28th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2011: $5,865,153Liabilities 2011: $28,722Net Assets 2011: $5,836,4312011Assets 2012: $8,839,587Liabilities 2012: $44,469Net Assets 2012: $8,795,1182012Assets 2013: $7,389,579Liabilities 2013: $30,874Net Assets 2013: $7,358,7052013Assets 2014: $7,486,280Liabilities 2014: $59,432Net Assets 2014: $7,426,8482014Assets 2015: $18,006,199Liabilities 2015: $68,118Net Assets 2015: $17,938,0812015Assets 2016: $18,221,210Liabilities 2016: $49,299Net Assets 2016: $18,171,9112016Assets 2017: $15,324,648Liabilities 2017: $69,336Net Assets 2017: $15,255,3122017Assets 2018: $19,858,482Liabilities 2018: $70,923Net Assets 2018: $19,787,5592018Assets 2019: $38,294,688Liabilities 2019: $162,740Net Assets 2019: $38,131,9482019Assets 2020: $38,236,455Liabilities 2020: $32,915Net Assets 2020: $38,203,5402020Assets 2021: $36,293,200Liabilities 2021: $51,155Net Assets 2021: $36,242,0452021Assets 2022: $34,329,304Liabilities 2022: $146,922Net Assets 2022: $34,182,3822022Assets 2023: $33,366,293Liabilities 2023: $118,658Net Assets 2023: $33,247,6352023Assets 2024: $33,192,620Liabilities 2024: $183,486Net Assets 2024: $33,009,1342024

Highlighted filing

2024

Assets$33,192,620
Liabilities$183,486
Net Assets$33,009,134
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2011: $611,9712011Expenses 2012: $844,9002012Revenue 2013: -$197,582Expenses 2013: $1,355,368Net Income 2013: -$1,552,9502013Revenue 2014: $990,329Expenses 2014: $970,404Net Income 2014: $19,9252014Revenue 2015: $12,385,300Expenses 2015: $1,838,278Net Income 2015: $10,547,0222015Revenue 2016: $2,612,991Expenses 2016: $2,485,469Net Income 2016: $127,5222016Revenue 2017: -$476,872Expenses 2017: $2,517,292Net Income 2017: -$2,994,1642017Revenue 2018: $7,574,050Expenses 2018: $2,399,990Net Income 2018: $5,174,0602018Revenue 2019: $21,482,666Expenses 2019: $3,186,295Net Income 2019: $18,296,3712019Revenue 2020: $2,114,798Expenses 2020: $3,447,124Net Income 2020: -$1,332,3262020Revenue 2021: $847,663Expenses 2021: $3,572,221Net Income 2021: -$2,724,5582021Revenue 2022: $2,874,725Expenses 2022: $2,638,161Net Income 2022: $236,5642022Revenue 2023: $171,405Expenses 2023: $2,816,992Net Income 2023: -$2,645,5872023Revenue 2024: $1,084,319Expenses 2024: $2,856,137Net Income 2024: -$1,771,8182024

Highlighted filing

2024

Revenue$1,084,319
Expenses$2,856,137
Net Income-$1,771,818
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$33,192,620
Liabilities
$183,486
Net assets
$33,009,134
Revenue
$1,084,319
Expenses
$2,856,137
Net income
-$1,771,818
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.2$0.18$33.0$1.08$2.86$1.77
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.4$0.12$33.2$0.17$2.82$2.65
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.3$0.15$34.2$2.87$2.64$0.24
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$36.3$0.05$36.2$0.85$3.57$2.72
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.2$0.03$38.2$2.11$3.45$1.33
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$38.3$0.16$38.1$21.5$3.19$18.3
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.9$0.07$19.8$7.57$2.40$5.17
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.3$0.07$15.3$0.48$2.52$2.99
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.2$0.05$18.2$2.61$2.49$0.13
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.0$0.07$17.9$12.4$1.84$10.5
2014Detailed filing. Detailed filing data is available for this year.$7.49$0.06$7.43$0.99$0.97$0.02
2013Detailed filing. Detailed filing data is available for this year.$7.39$0.03$7.36$0.20$1.36$1.55
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.84$0.04$8.80$0.84
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.87$0.03$5.84$0.61
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 1, 2025
Return Version
2024v5.2
Gross Receipts
$13,776,849
Mission and Program Overview

Mission

To further the mission of the united states naval academy; primarily through direct support to the sail training program at the naval academy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$22,303,295$25,454,116▲ $3,150,821
Land, Buildings, and Equipment, Net$9,472,806$6,527,858▼ $2,944,948
Savings and Temporary Cash Investments$1,308,430$885,982▼ $422,448
Cash and Non-Interest-Bearing Accounts$101,132$198,399▲ $97,267
Pledges and Grants Receivable$103,000--
Prepaid Expenses and Deferred Charges$8,033$19,611▲ $11,578
Total Assets$33,366,293$33,192,620▼ $173,673
Other Assets Total$69,597$106,654▲ $37,057
Liabilities
Accounts Payable and Accrued Expenses$118,658$183,486▲ $64,828
Total Liabilities$118,658$183,486▲ $64,828
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$32,983,852$32,731,111▼ $252,741
Net Assets With Donor Restrictions$263,783$278,023▲ $14,240
Total Net Assets Fund Balance$33,247,635$33,009,134▼ $238,501
Total Liabilities and Net Assets / Fund Balance$33,366,293$33,192,620▼ $173,673

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,527,858$3,237,028$9,764,886
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Cdr Les Spanheimer Usn RetTreasurer & Executive DireFT$150,000$150,000

Board Members and Trustees

NameTitle
Cdr Nick Madigan Usnr RetPresident & Trustee
Vadm Dixon Smith Usn RetVice President & Trustee
Margaret PodlichSecretary & Trustee
Alec CutlerTrustee
Anthony ParkerTrustee
Brad RodiTrustee
Clare HarringtonTrustee
Hal GilreathTrustee
Peter CraigTrustee
Radm Pat Dawson Jr Usnr RetTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$1,729,980
Program Service Revenue
$0
Investment Income
$-733,636
Other Revenue
$87,975
All Other Contributions
$1,729,980
Change in Net Assets
$-1,771,818

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$1,549,000Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table4$44,918Fair Market Value (FMV) Appraisal
Total Noncash Contributions5$1,593,918-

Audited Revenue Reconciliation

Revenue per Audited Statements
$965,232
Revenue Not Reported on Financial Statements
$119,087
Revenue Not Reported on Form 990
$1,547,822
Total Revenue per Audited Statements
$2,513,054
Total Revenue per Form 990
$1,084,319
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,694,662
Salaries, Compensation, and Employee Benefits$161,475
Total Fundraising Expense$17,890
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,416,707--$1,416,707
Current Officers, Directors, Trustees, and Key Employees$97,500$37,500$15,000$150,000
Insurance$137,333$8,250-$145,583
Fees for Service Investment Mgmnt Fees-$119,087-$119,087
Other Expenses$69,046$1,602-$69,046
Fees for Services Other$1,806$51,989$278$54,073
All Other Expenses$44,658$563$225$45,446
Fees for Services Accounting-$28,304-$28,304
Payroll Taxes$7,459$2,869$1,147$11,475
Conferences and Meetings$6,834$2,629$1,051$10,514
Office Expenses$428$7,877$65$8,370
Occupancy-$4,695-$4,695
Travel$804$309$124$1,237
Total Functional Expenses$2,572,573$265,674$17,890$2,856,137

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,856,137
Total Expenses per Audited Statements$2,751,555
Expenses per Audited Statements$2,737,050
Expenses Not Reported on Financial Statements$119,087
Expenses Not Reported on Form 990$14,505
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$14,505
Fundraising Gross Income$10,249
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Provided to members of the audit committee and executive director for review and approval prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Potential conflict of interest issues are discussed at board meetings held twice a year. No such issues in the current year.”

Form 990, Part VI, Section B, Line 15

“Hiring decisions and compensation amounts are reviewed and approved by all members of the board of trustees. Compensation is determined based on experience level with the use of comparability data for reasonableness of compensation amounts. A written compensation agreement has been signed by the foundation and the executive director.”

Form 990, Part VI, Section C, Line 19

“Disclosure of governing documents, policies, and financial statement are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Naval Academy Sailing Foundation Inc
EIN
23-7328323
Phone
4437584698
Address
PO BOX 195, ARNOLD, MD 21012

Signing Officer

Name
Cdr Les Spanheimer Usn Ret
Title
Treasurer & Executive Director
Phone
4437584698
Signed
2025-10-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cdr Les Spanheimer Usn
Formed
1973
Legal Domicile
Md
Voting Board Members
10
Independent Board Members
10
Employees
1
Volunteers
10

Preparer

Firm
Lswg Pa
Address
1801 RESEARCH BLVD SUITE 320, ROCKVILLE, MD 20850
Preparer
C Eva Webb
Phone
3016629200
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“No change from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation adopted the revised provisions of fasb asc 740, relating to uncertain income tax positions as required by generally accepted accounting principles, with no cumulative effect adjustment required. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The foundation believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the foundation's financial condition, results of operations or cash flows. Accordingly, the foundation has not recorded any reserves, or related accruals for interest and penalties for uncertain income taxes. For tax purposes, the foundation's open tax years are 2021-2023.”

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 14,505.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 14,505.”

Raw XML AppendixShowing 400 of 487 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TREASURER & EXECUTIVE DIRE
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT & TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY & TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT & TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01973
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/FundraisingDirectExpensesAmt014505
IRS990/FundraisingGrossIncomeAmt010249
IRS990/GainOrLossGrp/OtherAmt0-2002511
IRS990/GainOrLossGrp/SecuritiesAmt0624696
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/OtherAmt01135000
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt010165210
IRS990/GrossReceiptsAmt013776849
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt08250
IRS990/InsuranceGrp/ProgramServicesAmt0137333
IRS990/InsuranceGrp/TotalAmt0145583
IRS990/InvestmentIncomeGrp/ExclusionAmt0644179
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0644179
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt022303295
IRS990/InvestmentsPubTradedSecGrp/EOYAmt025454116
IRS990/IRPDocumentCnt07
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt03237028
IRS990/LandBldgEquipBasisNetGrp/BOYAmt09472806
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06527858
IRS990/LandBldgEquipCostOrOtherBssAmt09764886
IRS990/LegalDomicileStateCd0MD
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt03137511
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt09540514
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO FURTHER THE MISSION OF THE UNITED STATES NAVAL ACADEMY; PRIMARILY THROUGH DIRECT SUPPORT TO THE SAIL TRAINING PROGRAM AT THE NAVAL ACADEMY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt033247635
IRS990/NetAssetsOrFundBalancesEOYAmt033009134
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0624696
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-2002511
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-1377815
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-4256
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-4256
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt01533317
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt032983852
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt032731111
IRS990/NoncashContributionsAmt01607818
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt04695
IRS990/OccupancyGrp/TotalAmt04695
IRS990/OfficeExpensesGrp/FundraisingAmt065
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07877
IRS990/OfficeExpensesGrp/ProgramServicesAmt0428
IRS990/OfficeExpensesGrp/TotalAmt08370
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt069597
IRS990/OtherAssetsTotalGrp/EOYAmt0106654
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0SAILING PROGRAM SALARY
IRS990/OtherExpensesGrp/Desc1MAINTENANCE OF NASF FLE
IRS990/OtherExpensesGrp/Desc2BROKERAGE FEES
IRS990/OtherExpensesGrp/Desc3SAILING PROGRAM SUPPORT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01602
IRS990/OtherExpensesGrp/ProgramServicesAmt0440399
IRS990/OtherExpensesGrp/ProgramServicesAmt1201099
IRS990/OtherExpensesGrp/ProgramServicesAmt2148500
IRS990/OtherExpensesGrp/ProgramServicesAmt369046
IRS990/OtherExpensesGrp/TotalAmt0440399
IRS990/OtherExpensesGrp/TotalAmt1201099
IRS990/OtherExpensesGrp/TotalAmt2150102
IRS990/OtherExpensesGrp/TotalAmt369046
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt092231
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt092231
IRS990/OtherRevenueTotalAmt092231
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01147
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02869
IRS990/PayrollTaxesGrp/ProgramServicesAmt07459
IRS990/PayrollTaxesGrp/TotalAmt011475
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0103000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08033
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019611
IRS990/PrincipalOfficerNm0CDR LES SPANHEIMER USN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt078714
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt092691
IRS990/PYOtherExpensesAmt02678784
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-2645587
IRS990/PYSalariesCompEmpBnftPaidAmt0138208
IRS990/PYTotalExpensesAmt02816992
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0171405
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-1771818
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01308430
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0885982
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0NONE OF THE FOUNDATION'S OFFICERS, DIRECTORS, OR TRUSTEES WERE APPOINTED OR ELECTED BY THE SUPPORTED ORGANIZATION, OR SERVE ON THE GOVERNING BOARD OF THE SUPPORTED ORGANIZATION. THE FOUNDATION MAINTAINS NEARLY DAILY CONTACT WITH THE DIRECTOR OF SAILING PROGRAM OF THE SUPPORTED ORGANIZATION, AND MEETS WITH THE FALES SAILING ADVISORY COMMITTEE AND THE SUPERINTENDENT OF THE U.S. NAVAL ACADEMY TWICE ANNUALLY TO EVALUATE THE FOUNDATION'S SUPPORT PROVIDED TO THE NAVAL ACADEMY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1TO FURTHER THE MISSION OF THE UNITED STATES NAVAL ACADEMY; PRIMARILY THROUGH DIRECT SUPPORT OF THE SAIL TRAINING PROGRAM AT THE NAVAL ACADEMY
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE FOUNDATION'S MISSION AND PURPOSE IS TO SUPPORT THE UNITED STATES NAVAL ACADEMY IN THEIR EDUCATION OF THE MIDSHIPMEN. THE FOUNDATION WORKS ALMOST DAILY WITH THE DIRECTOR OF THE NAVAL ACADEMY SAILING PROGRAM IN SAILING EDUCATION, AND MEETS WITH THE SUPERINTENDENT OF THE NAVAL ACADEMY TO EVALUATE THE FOUNDATION'S SUPPORT PROVIDED TO THE ACADEMY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt3THE FOUNDATION PROVIDES THE USE OF SAILING VESSELS TO THE U.S. NAVAL ACADEMY FOR THE USE IN TRAINING ACADEMY MIDSHIPMEN. THE FOUNDATION ACCEPTS DONATIONS OF APPROPRIATE SAILING VESSELS FOR USE IN THE ACADEMY'S SAILING EDUCATION PROGRAM. WITHOUT THE USE OF THESE VESSELS, THE ACADEMY WOULD NOT HAVE SUCH ASSETS AVAILABLE FOR THEIR USE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 2:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 1C:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION E, LINE 2A:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc3PART IV, SECTION E, LINE 2B:
IRS990ScheduleA/OtherSupportSumAmt02568683
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0311575142
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt02568683
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt03890
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0US NAVAL ACADEMY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt03890
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt06527858
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03237028
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09764886
IRS990ScheduleD/ExpensesNotReportedAmt014505
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0119087
IRS990ScheduleD/ExpensesSubtotalAmt02737050
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0119087
IRS990ScheduleD/InvestmentExpensesNotIncldAmt0119087
IRS990ScheduleD/NetUnrealizedGainsInvstAmt01533317
IRS990ScheduleD/OtherExpensesIncludedAmt014505
IRS990ScheduleD/OtherRevenueAmt014505
IRS990ScheduleD/RevenueNotReportedAmt01547822
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0119087
IRS990ScheduleD/RevenueSubtotalAmt0965232
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION ADOPTED THE REVISED PROVISIONS OF FASB ASC 740, RELATING TO UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, WITH NO CUMULATIVE EFFECT ADJUSTMENT REQUIRED. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE FOUNDATION BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE FOUNDATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS. ACCORDINGLY, THE FOUNDATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAXES. FOR TAX PURPOSES, THE FOUNDATION'S OPEN TAX YEARS ARE 2021-2023.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FUNDRAISING EXPENSES 14,505.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES 14,505.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06527858
IRS990ScheduleD/TotalExpensesPerForm990Amt02856137
IRS990ScheduleD/TotalRevenuePerForm990Amt01084319
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02513054
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02751555
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt14
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0SAILBOAT 2024 MILLS 41
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc1SWAN 601 RACING SAILS
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FMV APPRAISAL
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt1FMV APPRAISAL
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd1X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt01549000
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt144918
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd01
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDED TO MEMBERS OF THE AUDIT COMMITTEE AND EXECUTIVE DIRECTOR FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1POTENTIAL CONFLICT OF INTEREST ISSUES ARE DISCUSSED AT BOARD MEETINGS HELD TWICE A YEAR. NO SUCH ISSUES IN THE CURRENT YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HIRING DECISIONS AND COMPENSATION AMOUNTS ARE REVIEWED AND APPROVED BY ALL MEMBERS OF THE BOARD OF TRUSTEES. COMPENSATION IS DETERMINED BASED ON EXPERIENCE LEVEL WITH THE USE OF COMPARABILITY DATA FOR REASONABLENESS OF COMPENSATION AMOUNTS. A WRITTEN COMPENSATION AGREEMENT HAS BEEN SIGNED BY THE FOUNDATION AND THE EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DISCLOSURE OF GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENT ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO CHANGE FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C

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