Coast Guard Foundation Inc
- Assets
- $23.3m
- Revenue
- $11.8m
- Investments
- $494.2k
- Employees
- 23
- Location
- Stonington, CT
- Founding
- 05/1986
- Data as of
- 12/2023
- EIN
- 04-2899862
Organization Overview
Coast Guard Foundation Inc is located in Stonington, CT. The organization was established in 1986. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Coast Guard Foundation Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Coast Guard Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Coast Guard Foundation Inc generated $11.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $10.8m during the year ending 12/2023. While expenses have increased by 6.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Coast Guard Foundation Inc has awarded 85 individual grants totaling $25,398,323. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE COAST GUARD FOUNDATION SUPPORTS COAST GUARD MEMBERS AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION IS ESSENTIAL TO A STRONG FUTURE FOR THE COAST GUARD COMMUNITY, BUT THE RISING COSTS OF SCHOOL AND OTHER BARRIERS MAKE IT INACCESSIBLE TO MANY. WE HELP MAKE HIGHER EDUCATION POSSIBLE THROUGH VARIOUS INITIATIVES INCLUDING: SCHOLARSHIPS FOR CHILDREN OF ACTIVE DUTY, RETIRED, OR ACTIVE RESERVE MEMBERS; 100% COVERAGE OF HIGHER EDUCATION FOR CHILDREN OF COAST GUARD MEMBERS WHO DIE IN OPERATIONAL, LINE OF DUTY SERVICE; AND, PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR COAST GUARD MEMBERS AND THEIR SPOUSES. WE ALSO SUPPORT THE COAST GUARD ACADEMY, A TOP-TIER EDUCATIONAL INSTITUTION TRAINING THE FUTURE LEADERS OF THE COAST GUARD, THROUGH VARIOUS GRANT SUPPORT.
PUBLIC AWARENESS:THE COAST GUARD FOUNDATION SERVES AS A GOODWILL AMBASSADOR FOR THE UNITED STATES COAST GUARD BY MAKING THE PUBLIC AWARE OF THE BENEFITS OF A STRONG COAST GUARD. WE CELEBRATE COAST GUARD MEMBERS THROUGH OUR TRIBUTE EVENTS, GOLF TOURNAMENTS, AND OUR RUN TO REMEMBER, A WORLDWIDE MOVEMENT WHERE THOUSANDS OF INDIVIDUALS PARTICIPATE IN ROAD RACES, MEMORIAL WALKS, AND OTHER TYPES OF FITNESS EVENTS.
MORALE AND WELL-BEING OF THE COAST GUARD IS CRUCIAL - NOT ONLY SO THEY REMAIN ALWAYS READY FOR THEIR ASSIGNMENTS, BUT SO THEY CAN MAINTAIN THEIR OWN PHYSICAL AND MENTAL WELL-BEING WHILE AT SEA OR STATIONED IN REMOTE AREAS. WE PROVIDE MORALE AND WELL-BEING SUPPORT THROUGH VARIOUS INITIATIVES INCLUDING: PROVIDING EXERCISE, SPORTS, AND OUTDOOR RECREATION EQUIPMENT AT COAST GUARD STATIONS AND ON BOARD CUTTERS; FUNDING RECREATION SPACES IN COAST GUARD COMMUNITIES; OFFERING MORALE SUPPORT THROUGH PARTNERSHIP WITH COAST GUARD LEADERSHIP; AND, PROVIDING TRAINING PROGRAMS FOR COAST GUARD CHAPLAINS SPECIFIC TO FAMILY COUNSELING.
FAMILY RESILIENCE, EMERGENCY SUPPORT AND COMMUNITY BUILDING - WHEN THE COAST GUARD FAMILY FACES DIFFICULT TIMES, THE COAST GUARD FOUNDATION PRIORITIZES FAMILY RESILIENCE, SO THAT MEMBERS, SPOUSES, AND CHILDREN HAVE THE SUPPORT THEY NEED TO RECOVER. WHEN NATURAL DISASTERS STRIKE, THE FOUNDATION OFFERS COAST GUARD MEMBERS IMMEDIATE RELIEF BY ASSESSING MEMBER AND FAMILY NEEDS THROUGH OUR DISASTER RELIEF AND RESPONSE PROGRAM. WHEN COAST GUARD FAMILIES OR UNITS FACE THE UNTHINKABLE LOSS OF AN ACTIVE DUTY MEMBER, WE ARE THERE WITH IMMEDIATE FINANCIAL AND MORALE SUPPORT. FOR AN INJURED OR CRITICALLY ILL COAST GUARD MEMBER WHICH DEEPLY AFFECTS FAMILY AND LOVED ONES, OUR TRAGEDY ASSISTANCE SUPPORT PROGRAM ENSURES THAT FAMILIES CAN FOCUS EXCLUSIVELY ON RECOVERY. THIS DEDICATED AND ROBUST FINANCIAL SUPPORT SYSTEM ALLOWS FAMILIES AND FELLOW SERVICE MEMBERS TO BE NEARBY DURING THESE DIFFICULT TIMES. A SENSE OF COMMUNITY IS POWERFUL FOR MEMBERS AND FAMILIES, AS COAST GUARD DEPLOYMENTS CAN BE REMOTE AND ISOLATING. WE FUND COMMUNITY SPACES THAT SERVE AS GATHERING PLACES FOR COAST GUARD FAMILIES TO MEET AND CONNECT WITH EACH OTHER WHILE STATIONED FAR AWAY FROM LOVED ONES. MEMBERS AND FAMILIES CAN ALSO SPEND TIME TOGETHER AT THESE SPACES WHEN MEMBERS ARE OFF DUTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Ludwig President | OfficerTrustee | 45 | $272,978 |
Thomas A Allegretti Chairman | OfficerTrustee | 20 | $0 |
R Christian Johnsen Vice Chairman | OfficerTrustee | 15 | $0 |
Cheryl D Felder Treasurer | OfficerTrustee | 15 | $0 |
Duncan C Smith III Secretary | OfficerTrustee | 15 | $0 |
Frederick Brodsky Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rkd Group Solicitations | 12/30/23 | $207,031 |
Emerson Events & Marketing Event Planner | 12/30/23 | $295,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $6,028 |
| Membership dues | $0 |
| Fundraising events | $2,438,301 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,841,189 |
| Noncash contributions included in lines 1a–1f | $232,577 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,285,518 |
| Total Program Service Revenue | $0 |
| Investment income | $883,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $47,164 |
| Net Income from Fundraising Events | -$476,783 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,780,701 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,665,988 |
| Grants and other assistance to domestic individuals. | $1,223,537 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $787,227 |
| Compensation of current officers, directors, key employees. | $199,834 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,906,676 |
| Pension plan accruals and contributions | $88,889 |
| Other employee benefits | $204,557 |
| Payroll taxes | $187,605 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,798 |
| Fees for services: Accounting | $47,043 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $565,260 |
| Fees for services: Investment Management | $40,000 |
| Fees for services: Other | $284,336 |
| Advertising and promotion | $663,271 |
| Office expenses | $0 |
| Information technology | $186,607 |
| Royalties | $0 |
| Occupancy | $129,174 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $301,777 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,207 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $10,812,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $792,844 |
| Savings and temporary cash investments | $963,034 |
| Pledges and grants receivable | $2,264,746 |
| Accounts receivable, net | $4,692 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $28,735 |
| Prepaid expenses and deferred charges | $456,499 |
| Net Land, buildings, and equipment | $491,622 |
| Investments—publicly traded securities | $17,851,540 |
| Investments—other securities | $494,232 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,347,944 |
| Accounts payable and accrued expenses | $637,346 |
| Grants payable | $0 |
| Deferred revenue | $383,924 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,059,241 |
| Total liabilities | $3,080,511 |
| Net assets without donor restrictions | $2,962,448 |
| Net assets with donor restrictions | $17,304,985 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,347,944 |
Grants Awarded
Over the last fiscal year, Coast Guard Foundation Inc has awarded $2,661,887 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES COAST GUARD PURPOSE: TO ENHANCE EDUCATIONAL OPPORTUNITIES AT THE COAST GUARD ACADEMY | $42,633 |
UNITED STATES COAST GUARD PURPOSE: TO IMPROVE MORALE AND DISTRICT SUPPORT | $1,812,176 |
UNITED STATES COAST GUARD PURPOSE: TO SUPPORT INITIATIVES FOR STRENGTHENING MENTAL RESILIENCY | $302,725 |
UNITED STATES COAST GUARD PURPOSE: TO PROVIDE DISASTER ASSISTANCE AND EMERGENCY RELIEF TO COASTGUARDSMEN & WOMEN | $53,247 |
UNITED STATES COAST GUARD PURPOSE: TO PROVIDE YOUTH ENRICHMENT | $231,106 |
US COAST GUARD CHIEF PETTY OFFICERS ASSOCIATION PURPOSE: TO PROVIDE DISASTER ASSISTANCE AND EMERGENCY RELIEF TO COASTGUARDSMEN & WOMEN | $220,000 |