The Naval Institute Foundation Incorporated

Analysis

The Naval Institute Foundation Incorporated is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in June 1993, 33 years ago. 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, The Naval Institute Foundation Incorporated reported income of $9.4m and spending of $5.2m, leaving 45% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $9.8m to $9.4m (-3.7%), an average of -0.9% a year. The sharpest change came in the year to December 2023, when income rose by 86%. Over the whole period it spent 137% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Naval Institute Foundation Incorporated sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Jefferson City Area YMCA ($9.4m), St Luke Homes & Services Inc ($9.4m) and Arc of Northeastern Pa ($9.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $361k (6.9% of expenses). Other salaries and wages came to $696k. At year end it held assets of $11.8m against liabilities of $158k, net assets of $11.7m.