Coast Guard Foundation Inc
- Assets
- $21.6m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 21
- Location
- Stonington, CT
- Founding
- 05/1986
- Data as of
- 12/2021
- 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 12/2021, Coast Guard Foundation Inc employed 21 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 12/2021, Coast Guard Foundation Inc generated $10.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $7.7m during the year ending 12/2021. While expenses have increased by 3.6% per year over the past 7 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 72 individual grants totaling $18,104,451. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE COAST GUARD FOUNDATION PARTNERS WITH THE COAST GUARD TO PROVIDE RESOURCES TO MEMBERS AND FAMILIES THAT BUILD RESILIENCE AND STRENGTHEN THE ENTIRE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT TO MEMBERS OF THE UNITED STATES COAST GUARD:THE COAST GUARD FOUNDATION'S SUPPORT FOR COAST GUARD MEMBERS ENHANCES THEIR MISSION READINESS AND RESILIENCE. THROUGH FITNESS AND RECREATION GEAR, WE PROMOTE MORALE AND WELLNESS INITIATIVES. THE COAST GUARD FOUNDATION PROVIDES EDUCATION AND WORKFORCE DEVELOPMENT ASSISTANCE TO MEMBERS PURSUING COLLEGE DEGREES OR PROFESSIONAL CERTIFICATIONS TO BETTER PREPARE THEM FOR THEIR ASSIGNED DUTIES AND SET THEM UP FOR FUTURE SUCCESS.
SUPPORT TO THE CORPS OF CADETS AT THE COAST GUARD ACADEMY:THE COAST GUARD FOUNDATION SUPPORTS THE COAST GUARD'S FUTURE OFFICER CORPS THROUGH LEADERSHIP DEVELOPMENT PROGRAMS, DIVERSITY AND INCLUSION INITIATIVES, ACADEMIC ENRICHMENT, AND ATHLETICS AND CLUB ACTIVITIES AT THE COAST GUARD ACADEMY.
SUPPORT TO COAST GUARD FAMILIES:THE COAST GUARD FOUNDATION PROVIDES GRANTS AND SCHOLARSHIPS FOR SPOUSES AND COLLEGE-AGE CHILDREN OF COAST GUARD MEMBERS. THE FOUNDATION UPGRADES THE COAST GUARD LOCATIONS AND FAMILY HOUSING AREAS WITH PROJECTS SUCH AS RECREATION FACILITIES. IN TIMES OF TRAGEDY, WHEN A COAST GUARD MEMBER DIES OR IS CRITICALLY INJURED WHILE ON ACTIVE DUTY, THE COAST GUARD FOUNDATION OFFERS COMFORT AND ASSISTANCE TO THE FAMILY AND FRIENDS OF THE FALLEN. IN TIMES OF EMERGENCIES AND NATURAL DISASTERS THE FOUNDATION STEPS IN TO RELIEVE THE IMMEDIATE NEEDS OF COAST GUARD FAMILIES. THE FALLEN HEROES SCHOLARSHIP PAYS THE COST OF A COLLEGE EDUCATION FOR THE CHILDREN OF A COAST GUARD MEMBER WHO IS KILLED IN THE LINE OF DUTY DURING AN OPERATIONAL MISHAP.
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. THROUGH A PUBLIC SERVICE ANNOUNCEMENT CAMPAIGN, THE FOUNDATION HIGHLIGHTS THE DEDICATION AND BRAVERY OF COAST GUARD CREWS. BY HONORING COAST GUARD MEMBERS AT EVENTS, SUCH AS TRIBUTE DINNERS, THE FOUNDATION SHOWCASES THE BRAVERY AND PERFORMANCE EXCELLENCE OF THE SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Ludwig President | OfficerTrustee | 45 | $224,255 |
Brad Sisley Senior VP Of Development | Officer | 45 | $175,429 |
Ron Labrec External Engagement Officer | Officer | 45 | $162,844 |
Linda Naugle Regional Dir Of Philanthro | 45 | $154,091 | |
Marc Cregan Regional Dir Of Philanthro | 45 | $150,427 | |
Andrew Kerr Regional Dir Of Philanthro | 45 | $138,342 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $16,464 |
| Membership dues | $0 |
| Fundraising events | $1,450,280 |
| Related organizations | $0 |
| Government grants | $389,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,748,675 |
| Noncash contributions included in lines 1a–1f | $815,187 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,604,919 |
| Total Program Service Revenue | $0 |
| Investment income | $311,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $771,327 |
| Net Income from Fundraising Events | -$320,298 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,406,014 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,236,323 |
| Grants and other assistance to domestic individuals. | $912,568 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $729,644 |
| Compensation of current officers, directors, key employees. | $185,767 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,278,938 |
| Pension plan accruals and contributions | $72,462 |
| Other employee benefits | $149,515 |
| Payroll taxes | $150,024 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,953 |
| Fees for services: Accounting | $45,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $270,396 |
| Fees for services: Investment Management | $39,076 |
| Fees for services: Other | $221,158 |
| Advertising and promotion | $271,505 |
| Office expenses | $0 |
| Information technology | $95,394 |
| Royalties | $0 |
| Occupancy | $99,660 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $96,322 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,904 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,663,013 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,318,831 |
| Savings and temporary cash investments | $1,971,738 |
| Pledges and grants receivable | $957,406 |
| Accounts receivable, net | $1,930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $35,285 |
| Prepaid expenses and deferred charges | $111,652 |
| Net Land, buildings, and equipment | $451,986 |
| Investments—publicly traded securities | $16,781,634 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,630,462 |
| Accounts payable and accrued expenses | $395,757 |
| Grants payable | $0 |
| Deferred revenue | $453,005 |
| 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 | $0 |
| Total liabilities | $848,762 |
| Net assets without donor restrictions | $6,005,917 |
| Net assets with donor restrictions | $14,775,783 |
| 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 | $21,630,462 |
Grants Awarded
Over the last fiscal year, Coast Guard Foundation Inc has awarded $2,236,323 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES COAST GUARD PURPOSE: TO SUPPORT SHIPMATE FUNDS THROUGHOUT THE COAST GUARD | $1,366,418 |
Springfield, VA PURPOSE: TO PROVIDE DISASTER ASSISTANCE AND EMERGENCY RELIEF TO COASTGUARDSMEN & WOMEN | $432,317 |
UNITED STATES COAST GUARD PURPOSE: TO IMPROVE MORALE AND WELFARE OF COAST GUARDSMEN | $334,303 |
UNITED STATES COAST GUARD PURPOSE: TO SUPPORT PUBLIC OUTREACH OPPORTUNITIES AT THE COAST GUARD ACADEMY AND DISTRICTS | $34,791 |
UNITED STATES COAST GUARD PURPOSE: TO SUPPORT CHAPLAIN FAMILY INITIATIVES THROUGHOUT THE COAST GUARD | $25,000 |
UNITED STATES COAST GUARD PURPOSE: TO ENHANCE THE ATHLETIC PROGRAMS AT THE COAST GUARD ACADEMY | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Coast Guard Foundation Inc has recieved totaling $24,700.
| Awarding Organization | Amount |
|---|---|
Worldscale Assoc Nyc Inc New York, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Noel Foundation Wilmington, DE PURPOSE: MERIT SCHOLARSHIP FUND | $5,000 |
Jim Thompson Foundation Dallas, TX PURPOSE: ENSURE COAST GUARD MEMBERS HAVE RESOURCES THEY NEED | $2,500 |
Thomas E Rodgers Jr Foundation Inc Miami, FL PURPOSE: UNDESIGNATED | $2,500 |
Hull Family Foundation Fort Lauderdale, FL PURPOSE: TO FURTHER THE ORGANIZATION'S QUALIFIED PURPOSE | $2,500 |
The Norman And Florence Brody Family Foundation Inc Reisterstown, MD PURPOSE: GENERAL SUPPORT | $1,500 |
Endowment Analysis
| Beg. Balance | $14,045,528 |
| Earnings | $1,291,398 |
| Net Contributions | $1,775,203 |
| Other Expense | $760,133 |
| Ending Balance | $16,351,996 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Soldier On Inc Pittsfield, MA | $26,254,508 | $13,386,266 |
Americas Vetdogs The Veterans K9 Corps Inc Smithtown, NY | $4,103,216 | $9,390,820 |
United Spinal Association Inc Kew Gardens, NY | $8,457,849 | $8,910,555 |
Coast Guard Foundation Inc Stonington, CT | $21,630,462 | $10,406,014 |
Usa Veteran And Military Support Foundation Inc Buzzards Bay, MA | $1,068 | $7,423,561 |
Veterans North East Outreach Center Inc Haverhill, MA | $8,243,940 | $5,723,835 |
Veterans Outreach Center Inc Rochester, NY | $10,292,940 | $5,967,513 |
Army Aviation Association Of America Inc Monroe, CT | $11,637,681 | $3,912,077 |
Common Defense Civic Engagement New York, NY | $599,694 | $2,910,495 |
American Legion Troy, NY | $13,558,229 | $3,222,198 |
United War Veterans Council Inc New York, NY | $437,790 | $1,827,572 |
Southeastern Massachusetts Veterans Housing Program Inc New Bedford, MA | $3,405,175 | $1,838,019 |