Civic Intelligence

Naval Academy Sailing Foundation Inc.

990 • Fiscal year 2015 • EIN 23-7328323

Jan 01, 2015 to Dec 31, 2015 • Filed on Oct 18, 2016

Organization Profilewww.navalacademysailingfoundation.org

View Organization Page

58 Bennion Road Mail Stop 23 JAnnapolis, MD 21402-5054

(443) 758-4698

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

7th percentile

0.01x

Higher debt load relative to revenue than 7% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

16th percentile

$71,504

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

98th percentile

141%

Faster asset growth than 98% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

99th percentile

1151%

Faster revenue growth than 99% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets9th percentile

Assets

Up

$18,006,199

Up $10,519,919 (+141%) from 2014

Net Assets

Up

$17,938,081

Up $10,511,233 (+142%) from 2014

Liabilities

Up

$68,118

Up $8,686 (+15%) from 2014

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin97th percentile

Revenue

Up

$12,385,300

Up $11,394,971 (+1151%) from 2014

Expenses

Up

$1,838,278

Up $867,874 (+89%) from 2014

Net Income

Up

$10,547,022

Up $10,527,097 (+52834%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth98th 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

2015

Assets$18,006,199
Liabilities$68,118
Net Assets$17,938,081
Open 2015 Filing

Operations Trend

Revenue Growth99th percentile

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

2015

Revenue$12,385,300
Expenses$1,838,278
Net Income$10,547,022
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 18, 2016
Return Version
2015v2.1
Gross Receipts
$12,560,285
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
Land, Buildings, and Equipment, Net$5,809,044$16,721,584▲ $10,912,540
Investments in Publicly Traded Securities$1,074,944$1,000,025▼ $74,919
Savings and Temporary Cash Investments$521,440$257,849▼ $263,591
Investments Other Securities$79,125$25,227▼ $53,898
Cash and Non-Interest-Bearing Accounts$1,727$1,514▼ $213
Total Assets$7,486,280$18,006,199▲ $10,519,919
Liabilities
Accounts Payable and Accrued Expenses$59,432$68,118▲ $8,686
Total Liabilities$59,432$68,118▲ $8,686
Net Assets / Fund Balance
Unrestricted Net Assets$7,342,850$17,938,081▲ $10,595,231
Temporarily Rstr Net Assets$83,998$0▼ $83,998
Total Net Assets Fund Balance$7,426,848$17,938,081▲ $10,511,233
Total Liabilities and Net Assets / Fund Balance$7,486,280$18,006,199▲ $10,519,919

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,514,455$2,415,606$17,930,061
Other Land Buildings$1,207,129$500$1,207,629
Compensation and Service Providers
Top Officer Pay16th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Capt J Hollis Bower Jr Usn RettREASURER & EXECUTIVE DIRECTORFT$71,504$71,504
Cdr Les Spanheimer Usn RetTreasurer & Executive DirectorFT$23,625$23,625
Capt J Hollis Bower Jr Usn RetDirector EmeritusPT$6,096$6,096

Board Members and Trustees

NameTitle
Mr Al Loomis IiiPresident
Mr Karl L KirkmanVice President
Mr Thomas H Closs JrSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$12,385,719
Program Service Revenue
$0
Investment Income
$-419
Other Revenue
$0
All Other Contributions
$12,385,719
Change in Net Assets
$10,547,022

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 Planes5$11,485,241Fair Market Value (FMV) Appraisal
Other Non Cash Contri Table84$791,624Fair Market Value (FMV) Appraisal
Total Noncash Contributions89$12,276,865-

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,385,300
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-35,789
Total Revenue per Audited Statements
$12,349,511
Total Revenue per Form 990
$12,385,300
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,623,277
Salaries, Compensation, and Employee Benefits$215,001
Total Fundraising Expense$28,712
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,013,717--$1,013,717
Other Salaries and Wages$113,775--$113,775
Current Officers, Directors, Trustees, and Key Employees$40,490$35,429$25,307$101,226
Insurance$47,665--$47,665
Fees for Services Other$20,000--$20,000
Fees for Service Investment Mgmnt Fees-$14,660-$14,660
All Other Expenses$11,522$1,788$674$13,984
Other Expenses$12,177$63$45$12,285
Fees for Services Accounting$3,750$3,750-$7,500
Advertising--$2,093$2,093
Conferences and Meetings$615$538$384$1,537
Office Expenses$334$292$209$835
Total Functional Expenses$1,753,046$56,520$28,712$1,838,278

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,838,278
Total Expenses per Audited Statements$1,838,278
Total Expenses per Form 990$1,838,278
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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, Section B, line 11

“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 reasonablness 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.”

Part VII, Section A

“The foundation has an administrative service agreement with the naval academy athletic association (naaa), an unrelated 501(c)(3) organization, whereby the salaries, related taxes and fringe benefits of the foundation's executive director and sailing coach are paid by naaa on behalf of the foundation. The naaa reports these compensation payments on the naaa payroll tax and forms w2 under tin 52-0613669. The foundation subsequently reimburses naaa in full for compensation paid on the foundation's behalf. Both organizations are organized to support the mission of the u.s. Naval academy.”

Filing and Contact Details

Filer

Filer Name
Naval Academy Sailing Foundation Inc
EIN
23-7328323
Phone
4437584698
Address
58 Bennion Road Mail Stop 23 J, Annapolis, MD 21402-5054

Signing Officer

Name
Cdr Les Spanheimer Usn Ret
Title
Treasurer & Executive Director
Phone
4437584698
Signed
2016-10-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cdr Les Spanheimer Usn
Formed
1973
Legal Domicile
Md
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Linton Shafer Warfield & Garrett Pa
Address
201 THOMAS JOHNSON DRIVE, FREDERICK, MD 21702
Preparer
Joseph M McCathran
Phone
3016629200
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

“Board reviews draft financial statements before final approval”

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 2012 - 2014”

Raw XML AppendixShowing 400 of 483 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.

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IRS990/PrincipalOfficerNm0CDR LES SPANHEIMER USN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0973574
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt016609
IRS990/PYOtherExpensesAmt0764443
IRS990/PYOtherRevenueAmt0146
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt019925
IRS990/PYSalariesCompEmpBnftPaidAmt0205961
IRS990/PYTotalExpensesAmt0970404
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0990329
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt010547022
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0521440
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0257849
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/ActivitiesEngagedOrgInvlmntInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd01
IRS990ScheduleA/Form990SchAType3FuncIntGrp/AppointElectMajorityOfficerInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ExerciseDirectionPoliciesInd00
IRS990ScheduleA/Form990SchAType3FuncIntGrp/GovernmentalEntityInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd00
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0NONE 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 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/ExplanationTxt1THE 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/ExplanationTxt2THE 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/ExplanationTxt3TO FURTHER THE MISSION OF THE UNITED STATES NAVAL ACADEMY; PRIMARILY THROUGH DIRECT SUPPORT TO THE SAIL TRAINING PROGRAM AT THE NAVAL ACADEMY.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 2- ORGANIZATION MAINTAINED A RELATI
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A - IDENTIFY SUPPORTED ORGS. AND E
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2PART IV, SECTION E, LINE 2B - REASONS FOR THE ORGANIZATION'S
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc3Part IV, Section E, Line 1c:
IRS990ScheduleA/OtherSupportSumAmt01364325
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0311575142
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd06
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt01364325
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0388721
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0US NAVAL ACADEMY
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt0388721
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/BookValueAmt015514455
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02415606
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt017930061
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01838278
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-35789
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01207129
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0500
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01207629
IRS990ScheduleD/RevenueNotReportedAmt0-35789
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt012385300
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 2012 - 2014
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016721584
IRS990ScheduleD/TotalExpensesPerForm990Amt01838278
IRS990ScheduleD/TotalRevenuePerForm990Amt012385300
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012349511
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01838278
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt023625
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt16096
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt271504
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CDR LES SPANHEIMER USN RET
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CAPT J HOLLIS BOWER JR USN RET
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2CAPT J HOLLIS BOWER JR USN RET
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TREASURER & EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR EMERITUS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2tREASURER & EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt023625
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt16096
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt271504
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt20
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/BoatsAndPlanesGrp/ContributionCnt05
IRS990ScheduleM/BoatsAndPlanesGrp/MethodOfDeterminingRevenuesTxt0FMV APPRAISAL
IRS990ScheduleM/BoatsAndPlanesGrp/NonCashCheckboxInd0X
IRS990ScheduleM/BoatsAndPlanesGrp/NoncashContributionsRptF990Amt011485241
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt084
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0Sails
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FMV APPRAISAL
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt0791624
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
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 REASONABLNESS 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/ExplanationTxt4THE FOUNDATION HAS AN ADMINISTRATIVE SERVICE AGREEMENT WITH THE NAVAL ACADEMY ATHLETIC ASSOCIATION (NAAA), AN UNRELATED 501(C)(3) ORGANIZATION, WHEREBY THE SALARIES, RELATED TAXES AND FRINGE BENEFITS OF THE FOUNDATION'S EXECUTIVE DIRECTOR AND SAILING COACH ARE PAID BY NAAA ON BEHALF OF THE FOUNDATION. THE NAAA REPORTS THESE COMPENSATION PAYMENTS ON THE NAAA PAYROLL TAX AND FORMS W2 UNDER TIN 52-0613669. THE FOUNDATION SUBSEQUENTLY REIMBURSES NAAA IN FULL FOR COMPENSATION PAID ON THE FOUNDATION'S BEHALF. BOTH ORGANIZATIONS ARE ORGANIZED TO SUPPORT THE MISSION OF THE U.S. NAVAL ACADEMY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD REVIEWS DRAFT FINANCIAL STATEMENTS BEFORE FINAL APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,006,199
Liabilities
$68,118
Net assets
$17,938,081
Revenue
$12,385,300
Expenses
$1,838,278
Net income
$10,547,022
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
2015Detailed filing. Detailed filing data is available for this year.$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
Peer Organizations

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