Civic Intelligence

Naval Academy Sailing Foundation Inc.

990 • Fiscal year 2014 • EIN 23-7328323

Jan 01, 2014 to Dec 31, 2014 • Filed on May 07, 2015

Organization ProfileN/A

View Organization Page

58 Bennion Road Mail stop 23JAnnapolis, MD 21402

(410) 757-4504

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

0.06x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

48th percentile

2.0%

Higher net margin than 48% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

29th percentile

$75,625

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 7.6% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

44th percentile

1.3%

Faster asset growth than 44% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$7,486,280

Up $96,701 (+1.3%) from 2013

Net Assets

Up

$7,426,848

Up $68,143 (+0.9%) from 2013

Liabilities

Up

$59,432

Up $28,558 (+92%) from 2013

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin48th percentile

Revenue

Up

$990,329

Up $1,187,911 (+601%) from 2013

Expenses

Down

$970,404

Down $384,964 (-28%) from 2013

Net Income

Up

$19,925

Up $1,572,875 (+101%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2014

Assets$7,486,280
Liabilities$59,432
Net Assets$7,426,848
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$990,329
Expenses$970,404
Net Income$19,925
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 7, 2015
Return Version
2014v5.0
Gross Receipts
$1,138,258
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.

The mission and purpose of the Naval Academy Sailing Foundation is to aid, encourage, and support the mission of the United States Naval Academy to advance the education of the midshipmen.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,757,910$5,809,044▲ $51,134
Investments in Publicly Traded Securities$801,114$1,074,944▲ $273,830
Savings and Temporary Cash Investments$718,743$521,440▼ $197,303
Investments Other Securities$110,607$79,125▼ $31,482
Cash and Non-Interest-Bearing Accounts$1,205$1,727▲ $522
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,389,579$7,486,280▲ $96,701
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$30,874$59,432▲ $28,558
Total Liabilities$30,874$59,432▲ $28,558
Net Assets / Fund Balance
Unrestricted Net Assets$7,327,518$7,342,850▲ $15,332
Temporarily Rstr Net Assets$31,187$83,998▲ $52,811
Total Net Assets Fund Balance$7,358,705$7,426,848▲ $68,143
Total Liabilities and Net Assets / Fund Balance$7,389,579$7,486,280▲ $96,701

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,502,578$1,402,242$5,904,820
Other Land Buildings$1,306,466$147$1,306,613
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Capt J Hollis Bower JrTreasurerFT$73,625$2,000$75,625

Board Members and Trustees

NameTitle
Mr AL Loomis IIIPresident
Mr Karl L KirkmanVice President
Cdr Nick Madigan Usnr RetTrustee
Mr Anthony W ParkerTrustee
Mr Philip LotzTrustee
Mr William C MartinTrustee
William H Rowden VADM RetTrustee
Mr Thomas H Closs JrSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$973,574
Program Service Revenue
$0
Investment Income
$16,609
Other Revenue
$146
All Other Contributions
$973,574
Change in Net Assets
$19,925

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Boats and Planes2$540,000Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table1$141,137Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table1$42,046Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table1$23,934Fair Market Value (FMV) appraisal
Other Non Cash Contri Table1$19,900Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table1$11,532Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table1$4,700Appraisal
Other Non Cash Contri Table1$2,500-
Total Noncash Contributions9$785,749-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,009,480
Revenue Not Reported on Financial Statements
$-19,151
Revenue Not Reported on Form 990
$48,218
Other Revenue Adjustments
$-19,151
Total Revenue per Audited Statements
$1,057,698
Total Revenue per Form 990
$990,329
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$764,443
Salaries, Compensation, and Employee Benefits$205,961
Total Fundraising Expense$22,216
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$609,191--$609,191
Other Salaries and Wages$99,846--$99,846
Current Officers, Directors, Trustees, and Key Employees$30,250$26,469$18,906$75,625
Insurance$32,093--$32,093
Fees for Service Investment Mgmnt Fees-$16,472-$16,472
All Other Expenses$8,624$3,807$1,235$13,666
Payroll Taxes$9,361$1,946$1,390$12,697
Other Employee Benefits$10,764$389$277$11,430
Fees for Services Accounting$3,900$3,900-$7,800
Pension Plan Contributions$6,363--$6,363
Other Expenses$4,768--$4,768
Office Expenses$327$286$204$817
Advertising--$204$204
Total Functional Expenses$894,919$53,269$22,216$970,404

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$970,404
Total Expenses per Form 990$970,404
Total Expenses per Audited Statements$951,253
Expenses Not Reported on Form 990$-19,151
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
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, Line 11B: Form 990 Review Process

“Provided to members of the Audit Committee and Executive Director for review and approval prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“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, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“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 reasonablness of compensation amounts. A written compensation agreement has been signed by the Foundation and the Executive Director for a three-year compensation period ending 31 October, 2014, and subsequently extended for one year to 31 October, 2015.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

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

Filing and Contact Details

Filer

Filer Name
Naval Academy Sailing Foundation Inc
EIN
23-7328323
Phone
4107574504
Address
58 Bennion Road Mail stop 23J, Annapolis, MD 21402

Signing Officer

Name
Capt J Hollis Bower Jr
Title
Treasurer
Signed
2015-05-07
Discuss with paid preparer
Yes

Organization Details

Formed
1973
Legal Domicile
Md
Voting Board Members
9
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Linton Shafer Warfield & Garrett PA CPAs
Address
201 Thomas Johnson Drive, Frederick, MD 21702
Preparer
JOSEPH M McCATHRAN
Phone
3016629200
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt01074944
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IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt05809044
IRS990/LandBldgEquipCostOrOtherBssAmt07211433
IRS990/LegalDomicileStateCd0MD
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IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt079778
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The mission and purpose of the Naval Academy Sailing Foundation is to aid, encourage, and support the mission of the United States Naval Academy to advance the education of the midshipmen.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt07426848
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt013990
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-19151
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-5161
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt048218
IRS990/NoncashContributionsAmt0785749
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/FundraisingAmt0204
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0286
IRS990/OfficeExpensesGrp/ProgramServicesAmt0327
IRS990/OfficeExpensesGrp/TotalAmt0817
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0277
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0389
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt010764
IRS990/OtherEmployeeBenefitsGrp/TotalAmt011430
IRS990/OtherExpensesGrp/Desc0LOSS ON DISPOSAL OF EQUIPMENT
IRS990/OtherExpensesGrp/Desc1maintenance - boats
IRS990/OtherExpensesGrp/Desc2DONATIONS
IRS990/OtherExpensesGrp/Desc3boat storage
IRS990/OtherExpensesGrp/ProgramServicesAmt059037
IRS990/OtherExpensesGrp/ProgramServicesAmt115304
IRS990/OtherExpensesGrp/ProgramServicesAmt25091
IRS990/OtherExpensesGrp/ProgramServicesAmt34768
IRS990/OtherExpensesGrp/TotalAmt059037
IRS990/OtherExpensesGrp/TotalAmt115304
IRS990/OtherExpensesGrp/TotalAmt25091
IRS990/OtherExpensesGrp/TotalAmt34768
IRS990/OtherRevenueMiscGrp/Desc0miscellaneous
IRS990/OtherRevenueMiscGrp/ExclusionAmt0146
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0146
IRS990/OtherRevenueTotalAmt0146
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt099846
IRS990/OtherSalariesAndWagesGrp/TotalAmt099846
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01390
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01946
IRS990/PayrollTaxesGrp/ProgramServicesAmt09361
IRS990/PayrollTaxesGrp/TotalAmt012697
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt06363
IRS990/PensionPlanContributionsGrp/TotalAmt06363
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01446235
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0-1644817
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01169602
IRS990/PYOtherRevenueAmt01000
IRS990/PYRevenuesLessExpensesAmt0-1552950
IRS990/PYSalariesCompEmpBnftPaidAmt0185766
IRS990/PYTotalExpensesAmt01355368
IRS990/PYTotalRevenueAmt0-197582
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt019925
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0718743
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0521440
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd0true
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd0true
IRS990ScheduleA/Form990SchAType3FuncIntGrp/AppointElectMajorityOfficerInd0false
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ExerciseDirectionPoliciesInd0false
IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION'S EXEMPT PURPOSE IS TO ACCEPT CONTRIBUTIONS OF LARGE SAIL BOATS AND RELATED MARINE EQUIPMENT SUITABLE AND SOLELY FOR USE IN TRAINING U.S. NAVAL ACADEMY MIDSHIPMEN. SUITABLE EQUIPMENT GENERALLY REQUIRES ACCEPTING INFREQUENT CONTRIBUTION OF LARGE DOLLAR VALUE SAIL BOATS FROM INDIVIDUALS. THE NUMBER OF SUCH SAIL BOATS THAT CAN BE USED BY THE U.S. NAVAL ACADEMY IS LIMITED WHICH LIMITS THE NUMBER OF SUCH CONTRIBUTIONS THE FOUNDATION CAN ACCEPT IN ANY ONE YEAR.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1None of the Foundation's officers, directors, or trustee 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 education 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/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 superintendant 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 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 sailing vessels, the Academy would not have such assets available for their use.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part I: Additional Information
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section D, Line 2: Organizaiton Maintained A Relationship with Supported Orgs.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc3Part IV, Section E, Line 2b: Reasons For The Organization's Position
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0311575142
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeDesc06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0894919
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0US Naval Academy
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt0894919
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt04502578
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01402242
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05904820
IRS990ScheduleD/ExpensesNotReportedAmt0-19151
IRS990ScheduleD/ExpensesSubtotalAmt0970404
IRS990ScheduleD/NetUnrealizedGainsInvstAmt048218
IRS990ScheduleD/OtherExpensesIncludedAmt0-19151
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01306466
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0147
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01306613
IRS990ScheduleD/OtherRevenuesNotIncludedAmt0-19151
IRS990ScheduleD/RevenueNotReportedAmt048218
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0-19151
IRS990ScheduleD/RevenueSubtotalAmt01009480
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05809044
IRS990ScheduleD/TotalExpensesPerForm990Amt0970404
IRS990ScheduleD/TotalRevenuePerForm990Amt0990329
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01057698
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0951253
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,486,280
Liabilities
$59,432
Net assets
$7,426,848
Revenue
$990,329
Expenses
$970,404
Net income
$19,925
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