United States Naval Academy Foundation Inc

Analysis

United States Naval Academy Foundation Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in February 1969, 57 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, United States Naval Academy Foundation Inc reported income of $42.7m and spending of $44.1m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $53.4m to $42.7m (-20%), an average of -5.4% a year. The sharpest change came in the year to June 2020, when income rose by 25%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, United States Naval Academy Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within MD. Charities of a similar size with the same main cause include South Texas College of Law Houston Inc ($42.7m), Albertus Magnus College ($42.7m) and Detroit 90-90 ($42.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 8.4% of the total. Compensation of current officers, directors and key employees was $1.3m (2.9% of expenses). Other salaries and wages came to $4.3m. It paid $271k in professional fundraising fees. At year end it held assets of $327.5m against liabilities of $11.6m, net assets of $315.8m. It reported 58 employees.