Overview
What is United States Merchant Marine Academy Alumni Association And Foundation Inc?
United States Merchant Marine Academy Alumni Association and Foundation Inc, based in Kings Point, New York, is a nonprofit organization with a mission to serve, assist, and perpetuate the United States Merchant Marine Academy, its midshipmen, faculty, staff, and alumni. The foundation supports the academy's mission of educating and graduating merchant marine officers, who will become leaders in the commercial and defense transportation services of the United States. They achieve this by providing financial assistance to various teams and clubs, sponsoring awards and scholarships, and fostering the development of the academy to meet future transportation needs of the nation. The foundation also raises and distributes funds for charitable, scientific, and educational purposes, maintaining some of these funds in an endowment. The organization currently employs 13 individuals.
Official website here: www.usmmaalumni.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 94%
The United States Merchant Marine Academy Alumni Association And Foundation Inc has received a commendable Four-Star out of Four Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The organization boasts an impressive overall score of 94%, with significant strengths in governance, evidenced by a fully independent board and robust audit practices.
The financial metrics indicate that the foundation excels in maintaining a low liabilities-to-assets ratio at 0.79% and demonstrating efficiency in fundraising, with only $0.07 spent to raise each dollar. However, the program expense ratio stands at 60.21%, suggesting that a larger portion of funds could be directed toward programmatic activities rather than administrative or fundraising costs.
Overall, the organization shows a high level of transparency and ethical governance with policies in place to prevent conflicts of interest and ensure proper document retention. While the program expense ratio may be an area for improvement, the strong financial indicators and governance practices underscore the foundation’s dedication to its mission and responsible stewardship of resources.
This AI summary has been generated from information found on Charity Navigator.
Is United States Merchant Marine Academy Alumni Association And Foundation Inc legitimate?
United States Merchant Marine Academy Alumni Association And Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. United States Merchant Marine Academy Alumni Association And Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $383,137
Professional Fundraising Fees: $0
Other Salaries and Wages: $868,918
For more financial information, click here
Official website here: www.usmmaalumni.com
What is the mission statement of United States Merchant Marine Academy Alumni Association And Foundation Inc?
The United States Merchant Marine Academy Alumni Association and Foundation Inc exists to support and uphold the academy, its midshipmen, faculty, staff, and alumni. Its primary mission is to aid in the education and graduation of merchant marine officers, who will serve as leaders in the commercial and defense transportation sectors of the United States. The foundation provides financial assistance for charitable, scientific, and educational purposes by raising and distributing funds, some of which are maintained in an endowment. The organization also works towards enhancing the academy's future transportation needs and boosts its prestige by disseminating information about its history, activities, methods, and objectives.
Official website here: www.usmmaalumni.com
Who is the CEO of United States Merchant Marine Academy Alumni Association And Foundation Inc?
James F Tobin is the President And Ceo of United States Merchant Marine Academy Alumni Association And Foundation Inc. The CEO's salary of United States Merchant Marine Academy Alumni Association And Foundation Inc is $225,013 and their total compensation is $254,881.
Official website here: www.usmmaalumni.com
What is the revenue of United States Merchant Marine Academy Alumni Association And Foundation Inc?
United States Merchant Marine Academy Alumni Association And Foundation Inc's revenue in 2022 was $6,652,900.
Official website here: www.usmmaalumni.com
Who are the executives of United States Merchant Marine Academy Alumni Association And Foundation Inc and what are their salaries?
The average compensation at United States Merchant Marine Academy Alumni Association And Foundation Inc during 2022 was $96,312. There are 13 employees and 18 volunteers at United States Merchant Marine Academy Alumni Association And Foundation Inc.
Here are 23 key members and their salaries (United States Merchant Marine Academy Alumni Association And Foundation Inc's CEO's salary is $225,013 and their total compensation is $254,881):
- Compensation: $225,013
- Related: $0
- Other: $29,868
- Compensation: $112,100
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- Other: $36,479
- Compensation: $127,105
- Related: $0
- Other: $15,901
- Compensation: $110,293
- Related: $0
- Other: $17,963
- Compensation: $101,405
- Related: $0
- Other: $11,631
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Official website here: www.usmmaalumni.com
Where can I find the form 990 for United States Merchant Marine Academy Alumni Association And Foundation Inc?
United States Merchant Marine Academy Alumni Association And Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.usmmaalumni.com
Learn more at the official website: www.usmmaalumni.com
Mission Statement of United States Merchant Marine Academy Alumni Association And Foundation Inc
The United States Merchant Marine Academy Alumni Association and Foundation Inc exists with a mission to support, assist, and perpetuate the academy, its midshipmen, faculty, staff, and alumni. This nonprofit organization plays a crucial role in furthering the academy's mission of educating and graduating merchant marine officers who will become leaders in the commercial and defense transportation services of the United States. To achieve this, the foundation raises and distributes funds for charitable, scientific, and educational purposes, some of which are maintained in an endowment.
Moreover, the United States Merchant Marine Academy Alumni Association and Foundation Inc is committed to fostering and encouraging the development of the academy to meet the future transportation needs of the United States. The organization enhances the prestige of the academy by acquiring, preserving, and disseminating information about its history, activities, methods, and objectives. By doing so, the United States Merchant Marine Academy Alumni Association and Foundation Inc contributes significantly to the advancement and recognition of the academy.
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Impact
July, 2024
The United States Merchant Marine Academy Alumni Association And Foundation Inc's impact lies in supporting the education and development of future merchant marine officers. By providing financial support to midshipmen programs and activities, enhancing the education experience of over 1,000 midshipmen, sponsoring awards and scholarships, and promoting academic and athletic excellence, the foundation contributes to the growth of leaders in the commercial and defense transportation services of the United States. Additionally, through raising and distributing funds for charitable, scientific, and educational purposes, the foundation helps meet the future transportation needs of the country while preserving and disseminating information about the academy's history and objectives.
This information is meant to be a general summary of United States Merchant Marine Academy Alumni Association And Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$22,606
- Program Service Revenue: $270,287
- Gross Receipts: $17,954,322
Assets and Liabilities:
- Total Assets: $54,000,919
- Total Liabilities: $427,465
- Net Assets: $53,573,454
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ALUMNI EVENTS & MERCHANDISE SALE
Revenue
$126,123
JOB PLACEMENT SERVICE
Revenue
$48,164
RENTAL REVENUE
Revenue
$96,000
Organization Details
Founding Year
1944
Phone
(516) 773-5566Principal Officer
James F Tobin
Main Address
300 Steamboat Road, Kings Point, NY, 11024
Website
www.usmmaalumni.comNTEE Category
Code: B84 - Education
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