Naval Academy Sailing Foundation Inc

Analysis

Naval Academy Sailing Foundation Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in December 1973, 53 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Naval Academy Sailing Foundation Inc reported income of $171k and spending of $2.8m, spending 1643% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $21.5m to $171k (-99%), an average of -70% a year. The sharpest change came in the year to December 2022, when income rose by 239%. Over the whole period it spent 57% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Naval Academy Sailing Foundation Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 50th percentile within MD. Charities of a similar size with the same main cause include Galveston Electrical Joint Apprenticeship & Training Trust Fu ($171k), Georgia Extension 4-H Foundation ($171k) and Morgan County Historical Society Inc ($171k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% of the total. Compensation of current officers, directors and key employees was $128k (4.5% of expenses). At year end it held assets of $33.4m against liabilities of $119k, net assets of $33.2m. It reported 1 employees.