Overview
What is Us Naval Academy Foundation Inc?
The Us Naval Academy Foundation is a nonprofit organization dedicated to enhancing the Naval Academy's mission by collaborating with academy leadership to identify key priorities. They raise, manage, and distribute private funds to augment the academy's resources, focusing on endowed positions and various programs. These initiatives cover areas such as cyber security, athletic excellence, STEM education, minority outreach, leadership development, and international projects. Additionally, grants to the academy facilitate project-based learning.
Official website here: www.usna.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star Rating
The Us Naval Academy Foundation Inc has achieved a perfect score of 100% on Charity Navigator, reflecting its strong performance in accountability and finance. This rating indicates a high level of transparency and responsible financial management, underscored by a comprehensive evaluation of its financial practices and governance. The organization boasts a fully independent board, with 97% of its members being independent, which enhances its credibility and oversight.
The foundation's financial metrics are impressive, with a healthy program expense ratio of 77.81%, signifying that the majority of its funding goes directly toward its mission. Additionally, its fundraising efficiency is noteworthy, with only $0.20 spent to raise each dollar, demonstrating effective resource utilization. The organization's low liability-to-assets ratio of 3.55% suggests a strong financial position, further reinforcing its stability.
Overall, the Us Naval Academy Foundation Inc demonstrates a strong commitment to ethical practices, governance, and financial responsibility. While the data does not reveal any significant limitations, continued transparency and effective communication of its impact could further enhance its reputation among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Us Naval Academy Foundation Inc legitimate?
Us Naval Academy Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Us Naval Academy 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: $907,422
Professional Fundraising Fees: $351,416
Other Salaries and Wages: $4,266,068
For more financial information, click here
Official website here: www.usna.com
What is the mission statement of Us Naval Academy Foundation Inc?
The Us Naval Academy Foundation is a non-profit organization committed to enhancing the mission of the Naval Academy. In collaboration with academy leadership, it identifies strategic institutional priorities and raises, manages, and disburses private funds. These funds provide a margin of excellence, supporting various areas such as cyber security, athletic excellence, STEM education, minority outreach, leadership development, and international programs. Additionally, grants to the Naval Academy finance project-based learning initiatives.
Official website here: www.usna.com
Who is the CEO of Us Naval Academy Foundation Inc?
Robert Gast is the Director of Us Naval Academy Foundation Inc. The CEO's salary of Us Naval Academy Foundation Inc is $342,644 and their total compensation is $620,276.
Official website here: www.usna.com
What is the revenue of Us Naval Academy Foundation Inc?
Us Naval Academy Foundation Inc's revenue in 2022 was $47,603,619.
Official website here: www.usna.com
Who are the executives of Us Naval Academy Foundation Inc and what are their salaries?
The average compensation at Us Naval Academy Foundation Inc during 2022 was $97,613. There are 53 employees and 53 volunteers at Us Naval Academy Foundation Inc.
Here are 60 key members and their salaries (Us Naval Academy Foundation Inc's CEO's salary is $342,644 and their total compensation is $620,276):
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Official website here: www.usna.com
Where can I find the form 990 for Us Naval Academy Foundation Inc?
Us Naval Academy Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.usna.com
Learn more at the official website: www.usna.com
Mission Statement of Us Naval Academy Foundation Inc
The Us Naval Academy Foundation plays a crucial role in supporting, promoting, and advancing the mission of the Naval Academy. Working in conjunction with academy leadership, the foundation identifies strategic institutional priorities and raises, manages, and disburses private gift funds to provide a margin of excellence. This support extends to various areas, including endowed positions and program development.
The foundation's efforts encompass numerous initiatives aimed at enhancing the Naval Academy's cyber security, athletic programs, STEM education, minority outreach, leadership development, and international programs. By providing resources for these areas, the Us Naval Academy Foundation enables the Naval Academy to maintain a position of excellence and innovation in the realm of higher education and military training.
Moreover, the foundation offers grants to the Naval Academy to support project-based learning, fostering a hands-on, experiential approach to education. This approach not only prepares midshipmen for the challenges they will face in their future careers but also ensures that the Naval Academy remains at the forefront of educational best practices. Through its commitment to the Naval Academy and its strategic priorities, the Us Naval Academy Foundation contributes significantly to the institution's ability to develop leaders and innovators for the US Navy and Marine Corps.
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Impact
October, 2024
The U.S. Naval Academy Foundation Inc. plays a vital role in enhancing the mission and vision of the Naval Academy by actively supporting and promoting its educational and developmental priorities. By collaborating closely with academy leadership, the Foundation identifies strategic institutional needs and mobilizes resources to address them.
Through the raise, management, and disbursement of private gift funds, the Foundation contributes significantly to the academy’s excellence in various areas, including cybersecurity, athletics, STEM education, minority outreach, and leadership development. These initiatives not only bolster the academy's programs but also aid in cultivating a diverse and skilled future workforce for the Navy and Marine Corps.
The Foundation’s support extends beyond financial contributions; it also fosters project-based learning, ensuring that midshipmen receive practical, hands-on experiences vital for their professional growth. Whether by funding endowed positions or facilitating international programs, the Foundation enhances the overall educational environment at the Naval Academy, thereby empowering future leaders to meet the challenges of a complex global landscape.
This information is meant to be a general summary of Us Naval Academy 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: $13,532,851
- Program Service Revenue: $3,776,417
- Gross Receipts: $222,023,948
Assets and Liabilities:
- Total Assets: $305,968,176
- Total Liabilities: $10,754,679
- Net Assets: $295,213,497
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FUND ADMIN. FEE
Revenue
$3,715,926
MISCELLANEOUS FEES & S
Revenue
$60,491
Organization Details
Founding Year
1969
Phone
(410) 295-4000Principal Officer
Robert Gast
Main Address
247 KING GEORGE STREET, ANNAPOLIS, MD, 21402
Website
www.usna.comNTEE Category
Code: B12 - Education
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