Overview
What is Naval Academy Sailing Foundation Inc?
Naval Academy Sailing Foundation Inc is a nonprofit organization situated in Annapolis, Maryland. Its primary mission is to support the United States Naval Academy's sail training programs, contributing significantly to their mission. The foundation accomplishes this by managing and maintaining boats donated to them, covering repair costs, insurance, depreciation, and other related expenses. Furthermore, the foundation funds the full-time salaries of five sailing coaches at the U.S. Naval Academy. By doing so, they play a crucial role in nurturing the sailing skills of future Navy leaders, directly contributing to the Academy's objectives.
Official website here: www.navalacademysailingfoundation.org
Is Naval Academy Sailing Foundation Inc legitimate?
Naval Academy Sailing Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Naval Academy Sailing 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: $125,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.navalacademysailingfoundation.org
What is the mission statement of Naval Academy Sailing Foundation Inc?
The Naval Academy Sailing Foundation Inc's primary mission is to support the United States Naval Academy, specifically the sail training program. This is done by providing direct financial assistance. The foundation spends funds on maintaining, repairing, insuring, and acquiring title for boats donated to the Navy for use in the training programs. Additionally, the foundation covers the full-time salaries of five sailing coaches at the Naval Academy.
Official website here: www.navalacademysailingfoundation.org
Who is the CEO of Naval Academy Sailing Foundation Inc?
Cdr Les Spanheimer Usn is the Principal Officer of Naval Academy Sailing Foundation Inc.
Official website here: www.navalacademysailingfoundation.org
What is the revenue of Naval Academy Sailing Foundation Inc?
Naval Academy Sailing Foundation Inc's revenue in 2022 was $2,874,725.
Official website here: www.navalacademysailingfoundation.org
Who are the executives of Naval Academy Sailing Foundation Inc and what are their salaries?
The average compensation at Naval Academy Sailing Foundation Inc during 2022 was $125,000. There is 1 employee and 21 volunteers at Naval Academy Sailing Foundation Inc.
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Official website here: www.navalacademysailingfoundation.org
Where can I find the form 990 for Naval Academy Sailing Foundation Inc?
Naval Academy Sailing Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.navalacademysailingfoundation.org
Learn more at the official website: www.navalacademysailingfoundation.org
Mission Statement of Naval Academy Sailing Foundation Inc
The Naval Academy Sailing Foundation Inc is committed to advancing the mission of the United States Naval Academy primarily through direct support to its sail training program. This support is multifaceted, encompassing various expenses related to boats donated to the Foundation. These expenses include repairs, maintenance, depreciation, insurance on vessels, and the cost of acquiring title. Beyond these financial contributions, the Foundation also funds the full-time salaries of five sailing coaches at the United States Naval Academy. These coaches play a crucial role in guiding and instructing cadets within the sail training program, thereby furthering the overall mission of the Naval Academy Sailing Foundation Inc.
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Impact
October, 2024
Naval Academy Sailing Foundation Inc significantly enhances the sail training program at the United States Naval Academy, contributing to the development of future naval leaders. By funding the repair and maintenance of donated boats, the foundation ensures that cadets have access to high-quality vessels for training, which is essential for cultivating their sailing skills and fostering teamwork.
The foundation also invests in the educational experience by covering the salaries of five dedicated sailing coaches, providing invaluable mentorship and guidance to midshipmen. This support not only strengthens the cadets' sailing abilities but also embodies the leadership and discipline essential in their military careers.
Through its efforts, the foundation plays a critical role in promoting excellence and fostering a spirit of camaraderie among aspiring naval officers, ultimately furthering the mission of the United States Naval Academy and enhancing the institution’s commitment to developing capable and skilled leaders in service to the nation.
This information is meant to be a general summary of Naval Academy Sailing 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: -$2,107,019
- Gross Receipts: $6,192,653
Assets and Liabilities:
- Total Assets: $34,329,304
- Total Liabilities: $146,922
- Net Assets: $34,182,382
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Organization Details
Founding Year
1973
Phone
(443) 758-4698Principal Officer
Cdr Les Spanheimer Usn
Main Address
58 BENNION ROAD MAIL STOP 23 J, ANNAPOLIS, MD, 214025054
NTEE Category
Code: W30I - Public benefit
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