United States Coast Guard Academy Alumni Association Inc
- Assets
- $41.6m
- Revenue
- $8.6m
- Investments
- $7.9m
- Employees
- 14
- Location
- New London, CT
- Founding
- 05/1993
- Data as of
- 12/2022
- EIN
- 06-1354978
Organization Overview
United States Coast Guard Academy Alumni Association Inc is located in New London, CT. The organization was established in 1993. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 12/2022, United States Coast Guard Academy Alumni Association Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United States Coast Guard Academy Alumni Association 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 12/2022, United States Coast Guard Academy Alumni Association Inc generated $8.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $18.2m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO PROVIDE SERVICES AND PROMOTE FELLOWSHIP AMONG ITS MEMBERS. THE ORGANIZATION SHALL RAISE FUNDS TO PROVIDE "MARGIN OF EXCELLENCE" SUPPORT FOR THE CORPS OF CADETS (PRESENT DAY STUDENTS) AS COAST GUARD OFFICERS AND CIVILIAN EXMPLOYEES ARE PROHIBITED BY THE LAW FROM SEEKING FUNDS BEYOND WHAT IS APPROPRIATED BY CONGRESS. THE ASSOCIATION IS A 501(C)(3) AND ALSO SERVES TO PRESERVE TRADITIONS AND ENHANCE THE REPUTATION OF THE ACADEMY AS IT CARRIES OUT THE ABOVE FUNCTIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES DIRECT SUPPORT TO THE COAST GUARD ACADEMY FOR VARIOUS PROJECTS IN MAJOR CATEGORIES SUCH AS ACADEMIC ENRICHMENT, CADET ACTIVITIES, ATHLETICS AND CAPITAL IMPROVEMENT PROJECTS IN VARIOUS ACADEMY BUILDINGS.
PREPARE BI-MONTHLY MAGAZINE, MONTHLY E-NEWSLETTER AND ANNUAL DIRECTORY AND DISTRIBUTE SAME TO DUES PAYING MEMBERS. THESE ARE THE MEANS BY WHICH THE ASSOCIATION KEEPS ALUMNI CONNECTED TO THE INSTITUTION ON A REGULAR BASIS.
OPERATING EXPENSES ALLOCATED TO VARIOUS PROJECTS IN THE CATEGORIES LISTED ABOVE WHICH PROVIDE ADMINISTRATIVE SUPPORT TO PROCESS AND DISTRIBUTE THE FUNDS NEEDED TO DO THE SAME.
HOST OF HOMECOMING WEEKEND EACH YEAR FOR CLASSES. THIS ANNUAL FRIEND- RAISING SERIES OF EVENTS SOLIDIFIES ALUMNI WITH THEIR ALMA MATER AND PROVIDES THE OPPORTUNITY TO RECONNECT WITH OTHER GRADUATES WITH WHOM THEY SERVED ON ACTIVE DUTY IN THE COAST GUARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Radm Fred Ames Director | Trustee | 1 | $0 |
Capt Kirsten Martin Director | Trustee | 1 | $0 |
Lcdr Philip Baxa Director | Trustee | 1 | $0 |
Ltjg Zachary Bagdon Director | Trustee | 1 | $0 |
Mr James J Smith Chair | OfficerTrustee | 1 | $0 |
Capt Charlene Downey Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Thad W Allen Institute For Leadership Chair Pay | 12/30/15 | $141,666 |
Ira H Martin Institute For Leadership Visiting Schola | 12/30/15 | $133,725 |
Thad W Allen Institute For Leadership Chair Pay | 12/30/15 | $141,666 |
Ira H Martin Institute For Leadership Visiting Schola | 12/30/15 | $133,725 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $576,208 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,379,514 |
| Noncash contributions included in lines 1a–1f | $1,156,843 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,955,722 |
| Total Program Service Revenue | $0 |
| Investment income | $675,075 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,465 |
| Net Gain/Loss on Asset Sales | -$322,802 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,498 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,604,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,593,270 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $332,809 |
| Compensation of current officers, directors, key employees. | $49,921 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $951,369 |
| Pension plan accruals and contributions | $59,941 |
| Other employee benefits | $91,864 |
| Payroll taxes | $91,717 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,417 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $36,900 |
| Advertising and promotion | $0 |
| Office expenses | $318,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,500 |
| Travel | $3,535 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,904 |
| Interest | $9,091 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $138,857 |
| Insurance | $33,312 |
| All other expenses | $67,333 |
| Total functional expenses | $18,177,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $501,022 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,288,603 |
| Accounts receivable, net | $16,484 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,364 |
| Net Land, buildings, and equipment | $2,825,439 |
| Investments—publicly traded securities | $26,911,464 |
| Investments—other securities | $7,906,604 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $64,656 |
| Total assets | $41,555,636 |
| Accounts payable and accrued expenses | $670,214 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,234,103 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $919,673 |
| Total liabilities | $3,823,990 |
| Net assets without donor restrictions | $3,468,952 |
| Net assets with donor restrictions | $34,262,694 |
| 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 | $41,555,636 |
Grants Awarded
Over the last fiscal year, United States Coast Guard Academy Alumni Association Inc has awarded $4,933,036 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES COAST GUARD ACADEMY PURPOSE: PROVIDES DIRECT SUPP | $4,831,783 |
UNITED STATES COAST GUARD PURPOSE: PROVIDES SUPPORT | $101,253 |