US Navy Memorial Foundation

Analysis

US Navy Memorial Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in July 1978, 48 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, US Navy Memorial Foundation reported income of $7.3m and spending of $5.9m, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.8m to $7.3m (+52%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, US Navy Memorial Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 84th percentile within DC. Charities of a similar size with the same main cause include Bravo Greater Des Moines Inc ($7.3m), Flint Institute of Arts ($7.3m) and National Theatre in America Inc ($7.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $429k (7.3% of expenses). Other salaries and wages came to $1.4m. It paid $310k in professional fundraising fees. At year end it held assets of $5.0m against liabilities of $1.9m, net assets of $3.0m. It reported 25 employees.