Civic Intelligence

West Point Class of 1998 Memorial

EIN 32-0289471 • 501(c)3 • Hingham, MA

Profile

The 98 fund exists to serve and support graduates and graduate families of the united states military academy principally through educational scholarships, financial support, and mentorship of the spouses and children of our fallen graduates. The 98 fund owns and operates a summer camp compound in alaska to provide beneficial experiences for the families of our fallen graduates and fellowship opportunities for west point graduates.

197 Main StreetHingham, MA 02043

www.the98fund.org

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

20th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

11th percentile

-28%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

81st percentile

23%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-26%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$1,641,983

Up $309,241 (+23%) from 2023

Liabilities

Down

$0

Down $25,000 (-100%) from 2023

Net Assets

Up

$1,641,983

Up $334,241 (+26%) from 2023

Operations
Liabilities / Revenue20th percentileNet Margin11th percentile

Revenue

Down

$318,668

Down $112,942 (-26%) from 2023

Expenses

Down

$408,738

Down $191,185 (-32%) from 2023

Net Income

Up

-$90,070

Up $78,243 (+46%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth81st percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2020: $806,464Liabilities 2020: $100,000Net Assets 2020: $706,4642020Assets 2021: $972,503Liabilities 2021: $99,949Net Assets 2021: $872,5542021Assets 2022: $1,395,835Liabilities 2022: $50,000Net Assets 2022: $1,345,8352022Assets 2023: $1,332,742Liabilities 2023: $25,000Net Assets 2023: $1,307,7422023Assets 2024: $1,641,983Liabilities 2024: $0Net Assets 2024: $1,641,9832024

Highlighted filing

2024

Assets$1,641,983
Liabilities$0
Net Assets$1,641,983
Open 2024 Filing

Operations Trend

Revenue Growth12th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2020: $198,757Expenses 2020: $68,364Net Income 2020: $130,3932020Revenue 2021: $333,585Expenses 2021: $296,878Net Income 2021: $36,7072021Revenue 2022: $629,808Expenses 2022: $402,669Net Income 2022: $227,1392022Revenue 2023: $431,610Expenses 2023: $599,923Net Income 2023: -$168,3132023Revenue 2024: $318,668Expenses 2024: $408,738Net Income 2024: -$90,0702024

Highlighted filing

2024

Revenue$318,668
Expenses$408,738
Net Income-$90,070
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
$1,641,983
Liabilities
$0
Net assets
$1,641,983
Revenue
$318,668
Expenses
$408,738
Net income
-$90,070
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.64$0.00$1.64$0.32$0.41$0.09
2023Detailed filing. Detailed filing data is available for this year.$1.33$0.03$1.31$0.43$0.60$0.17
2022Detailed filing. Detailed filing data is available for this year.$1.40$0.05$1.35$0.63$0.40$0.23
2021Detailed filing. Detailed filing data is available for this year.$0.97$0.10$0.87$0.33$0.30$0.04
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.81$0.10$0.71$0.20$0.07$0.13
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 13, 2025
Return Version
2024v5.0
Gross Receipts
$324,943
Mission and Program Overview

Mission

The 98 fund exists to serve and support graduates and graduate families of the united states military academy principally through educational scholarships, financial support, and mentorship of the spouses and children of our fallen graduates. The 98 fund owns and operates a summer camp compound in alaska to provide beneficial experiences for the families of our fallen graduates and fellowship opportunities for west point graduates.

The 98 fund exists to serve and support the graduate community of the united states military academy principally through educational scholarships, financial support, and by operating a summer camp that provides mentorship and beneficial experiences for the families of our fallen graduates.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,031,167$1,365,408▲ $334,241
Land, Buildings, and Equipment, Net$909,858$1,109,944▲ $200,086
Investments in Publicly Traded Securities$328,891$473,994▲ $145,103
Pd in Cap Srpls Land Bldg Eqp Fund$276,575$276,575→ $0
Cash and Non-Interest-Bearing Accounts$75,170$58,045▼ $17,125
Savings and Temporary Cash Investments$18,823--
Total Assets$1,332,742$1,641,983▲ $309,241
Liabilities
Mortgage Notes Payable Secured by Investment Property$25,000--
Total Liabilities$25,000$0▼ $25,000
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,307,742$1,641,983▲ $334,241
Total Liabilities and Net Assets / Fund Balance$1,332,742$1,641,983▲ $309,241

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$40,000--
Land$301,575--
Leasehold Improvements$768,369--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
John SerafiniChairman & T
Mark DerocchiPresident&bo
Anderson PuckettBoard Member
Ann BonneyBoard Member
Chris McquillenBoard Member
George WoodsBoard Member
Jason KostalBoard Member
Jason ParksBoard Member
Kaleigh WotringBoard Member
Michelle LavickaBoard Member
Mike AveryBoard Member
Stacey TomicBoard Member
Steven TetreaultBoard Member
Traci VoelkeBoard Member
William GibbsBoard Member
Mark WeaverVP & Board M
Revenue and Support

Revenue Composition

Contributions and Grants
$266,881
Program Service Revenue
$0
Investment Income
$51,787
Other Revenue
$0
All Other Contributions
$266,881
Change in Net Assets
$-90,070

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 Amount
Other Non Cash Contri Table1$54,822
Total Noncash Contributions1$54,822
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$336,281
Other Expenses$72,457
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$336,281--$336,281
Advertising-$13,975-$13,975
Office Expenses-$12,986-$12,986
Insurance-$12,506-$12,506
Travel-$10,112-$10,112
Other Expenses$3,189$140-$140
Total Functional Expenses$351,470$57,268$0$408,738
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Our organization distributed the form 990 and all accompanying schedules to the full membership of the organization's board of directors at least 1 week prior to formal submission. We provided all board members with ample time in which to review the form 990 and to raise any questions or comments concerning the form 990 or any of the schedules.”

Form 990, Page 6, Part VI, Line 19

“Our organization's website presently states that governing documents and financial statements are available upon request through the contact webpage. This notice was posted after the fy 2019 tax year.”

Filing and Contact Details

Filer

Filer Name
West Point Class of 1998 Memorial
EIN
32-0289471
Phone
6178946425
Address
197 MAIN STREET, HINGHAM, MA 02043
Doing Business As
The 98 Fund

Signing Officer

Name
John Serafini
Title
Chairman & Treasurer
Phone
6178946425
Signed
2025-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Serafini
Formed
2009
Legal Domicile
Va
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
25

Preparer

Firm
Ryan & Wetmore Pc
Address
1950 OLD GALLOWS ROAD SUITE 525, VIENNA, VA 22182
Preparer
Jason T Dudas CPA Va
Phone
7032884777
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The 98 fund exists to serve and support graduates and graduate families of the united states military academy principally through educational scholarships, financial support, and mentorship of the spouses and children of our fallen graduates. The 98 fund owns and operates a summer camp compound in alaska to provide beneficial experiences for the families of our fallen graduates and fellowship opportunities for west point graduates.”

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IRS990/OtherExpensesGrp/Desc2EQUIPMENT RENTAL
IRS990/OtherExpensesGrp/Desc3BUSINESS LICENSE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1140
IRS990/OtherExpensesGrp/ProgramServicesAmt012000
IRS990/OtherExpensesGrp/ProgramServicesAmt13189
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0JOHN SERAFINI
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0DISTRIBUTED CAPITAL TO SUPPORT EDUCATIONAL (COLLEGE) SCHOLARSHIPS FOR THE CHILDREN OF OUR WEST POINT CLASSMATES WHO WERE EITHER KILLED IN COMBAT OR DIED OTHERWISE. TO DATE, THE FUND HAS MADE FOURTEEN 10,000 SCHOLARSHIP COMMITMENTS THAT HAVE BEEN DISTRIBUTED TO DATE OR WILL BE DISTRIBUTED OVER THE NEXT FEW YEARS AS THE CHILDREN REACH COLLEGE AGE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt020000
IRS990/ProgSrvcAccomActy2Grp/GrantAmt020000
IRS990/ProgSrvcAccomActy3Grp/Desc0DISTRIBUTED CAPITAL TO SUPPORT THE MEDICAL, LIVING AND TRAVEL EXPENSES OF LIVING WEST POINT GRADUATES IN NEED AS WELL AS FOR THE CHILDREN AND WIDOWS OF WEST POINT GRADUATES WHO WERE EITHER KILLED IN COMBAT OR DIED OTHERWISE.
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0333545
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0198684
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01859506
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt040
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt073
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt018346
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt017212
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0836
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0185
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt040
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt073
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt018346
IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.01000
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IRS990ScheduleA/PublicSupportCY509Pct00.99020
IRS990ScheduleA/PublicSupportPY509Pct00.98950
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0266881
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0198684
IRS990ScheduleA/Total509Grp/TotalAmt01859506
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0284093
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0431610
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0629807
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0333585
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0198757
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01877852
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt040000
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt040000
IRS990ScheduleD/LandGrp/BookValueAmt0301575
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0301575
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0768369
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0768369
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01109944
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt020000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt1116195
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt2200086
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0CASH GRANTS FOR EDUCATION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1CASH GRANTS FOR FIN AID
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2DEVELOPMENT OF CAMP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt02
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt134
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt01 OUR ORGANIZATION WORKS CLOSELY WITH GRANT RECIPIENTS TO ENSURE THAT THE GRANT MONEY RECEIVED IS USED TO PRINCIPALLY SUPPORT TUITION AND OTHER EXPENSES ASSOCIATED WITH COLLEGE AND POST-COLLEGE EDUCATION. TO DATE WE HAVE MADE GRANT COMMITMENTS TO 10+ CHILDREN OF OUR FALLEN CLASSMATES OF THE WEST POINT CLASS OF 1998. WE ARE CLOSELY ENGAGED WITH EACH OF THESE CHILDREN AND THEIR SURVIVING PARENT TO ENSURE FOR THEIR SUCCESSFUL EDUCATION. WE MONITOR THE HEALTH AND WELFARE OF THESE GRANT RECIPIENTS CLOSELY AND ARE KNOWLEDGEABLE OF THEIR EDUCATION STATUS AND HOW THEY USE THE CAPITAL PROVIDED FOR THEIR COLLEGE AND POST-COLLEGE EDUCATION. TO THE BEST OF OUR KNOWLEDGE, ALL GRANTS - IN THIS TAX YEAR AND YEARS PAST - HAVE BEEN USED FOR EDUCATION EXPENSES IN THE UNITED STATES. 2 WE HAVE ALSO MADE CASH GRANTS TO OTHER WEST POINT GRADUATE FAMILIES IN NEED OF HELP OUTSIDE OF TUITION. WE TREAT THE REVIEW PROCESS FOR THESE CASES THE SAME AS DISTRIBTUION OF CASH GRANTS FOR EDUCATION. SIMILARLY, WE MONITOR THE HEALTH AND WELFARE OF THESE GRANT RECIPIENTS CLOSELY AND ARE KNOWLEDGABLE ABOUT THEIR HEALTH AND WELLNESS STATUS AND HOW THE CAPITAL IS USED. TO THE BEST OF OUR KNOWLEDGE, ALL GRANTS - IN THIS TAX YEAR AND YEARS PAST - HAVE BEEN USED FOR HEALTH, LIVING, AND WELLNESS EXPENSES IN THE UNITED STATES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt054822
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE 98 FUND RECEIVED ONE MAJOR NON-CASH CONTRIBUTION IN 2024. (1) BLOCK OF 100 SHARES OF NVIDIA STOCK (NVDA) VALUED ON THE NASDAQ AT 54,350 AT TIME OF CONTRIBUTION.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE M, PAGE 2, PART II
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 98 FUND EXISTS TO SERVE AND SUPPORT GRADUATES AND GRADUATE FAMILIES OF THE UNITED STATES MILITARY ACADEMY PRINCIPALLY THROUGH EDUCATIONAL SCHOLARSHIPS, FINANCIAL SUPPORT, AND MENTORSHIP OF THE SPOUSES AND CHILDREN OF OUR FALLEN GRADUATES. THE 98 FUND OWNS AND OPERATES A SUMMER CAMP COMPOUND IN ALASKA TO PROVIDE BENEFICIAL EXPERIENCES FOR THE FAMILIES OF OUR FALLEN GRADUATES AND FELLOWSHIP OPPORTUNITIES FOR WEST POINT GRADUATES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OUR ORGANIZATION DISTRIBUTED THE FORM 990 AND ALL ACCOMPANYING SCHEDULES TO THE FULL MEMBERSHIP OF THE ORGANIZATION'S BOARD OF DIRECTORS AT LEAST 1 WEEK PRIOR TO FORMAL SUBMISSION. WE PROVIDED ALL BOARD MEMBERS WITH AMPLE TIME IN WHICH TO REVIEW THE FORM 990 AND TO RAISE ANY QUESTIONS OR COMMENTS CONCERNING THE FORM 990 OR ANY OF THE SCHEDULES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OUR ORGANIZATION'S WEBSITE PRESENTLY STATES THAT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST THROUGH THE CONTACT WEBPAGE. THIS NOTICE WAS POSTED AFTER THE FY 2019 TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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