United States Merchant Marine Academy Alumni Association And Fou
- Assets
- $55.8m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Kings Point, NY
- Founding
- 08/1959
- Data as of
- 12/2021
- EIN
- 11-6037948
Organization Overview
United States Merchant Marine Academy Alumni Association And Fou is located in Kings Point, NY. The organization was established in 1959. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 12/2021, United States Merchant Marine Academy Alumni Association And Fou employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United States Merchant Marine Academy Alumni Association And Fou 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, United States Merchant Marine Academy Alumni Association And Fou generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 1.3% 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION SHALL EXIST TO SERVE, ASSIST, AND PERPETUATE THE ACADEMY, ITS REGIMENT OF MIDSHIPMEN, FACULTY, STAFF, AND ALUMNI.
Describe the Organization's Program Activity:
MIDSHIPMEN AND ACADEMY ACTIVITIES - SUPPORT TO ACADEMY (USMMA) MIDSHIPMEN PROGRAMS AND ACTIVITIES ENHANCE THE EDUCATION EXPERIENCE OF 1,025 MIDSHIPMEN BY PROVIDING FINANCIAL SUPPORT TO 2 TEAMS, AND 35 CLUBS. PROMOTE ACADEMIC AND ATHLETIC EXCELLENCE BY SPONSORING 70 AWARDS AND SCHOLARSHIPS.
ALUMNI ACTIVITIES - SUPPORT TO ALUMNI SERVICES AND ALUMNI FUNDRAISING EVENTS FOR THE BENEFIT OF THE USMMA. SUPPORT ALUMNI ACTIVITIES BY SPONSORING 12 GOLF TOURNAMENTS A YEAR, HOMECOMING EVENTS, AND SPONSORING 50 ALUMNI AWARDS.
PUBLICATIONS - SUPPORT TO COMMUNICATIONS (PUBLICATIONS AND WEBSITE) FOR ALUMNI, PARENTS, AND MIDSHIPMEN. PUBLISH THE KINGS POINTER MAGAZINE FOUR TIMES A YEAR WITH A CIRCULATION OF 15,556. PUBLISH THE SCUTTLEBUT NEWSLETTER BY E-MAIL TWICE A MONTH TO 7,700 ALUMNI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James F Tobin President & CEO | OfficerTrustee | 40 | $211,628 |
Marilyn Livi Senior Vice President | 40 | $118,765 | |
Brian O Foy Legislative Coordinator | 40 | $109,992 | |
Rosalba Raccagna Controller | Officer | 40 | $105,234 |
James L Hamilton Chairman | OfficerTrustee | 4 | $0 |
John E Chickering Vice Chairman | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daniel J Edelman Consulting | 12/30/20 | $249,817 |
Perlman Perlman Llp Legal Services | 12/30/20 | $112,044 |
Sheridan Magazine Services Publishing | 12/30/20 | $116,525 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $244,985 |
| Related organizations | $0 |
| Government grants | $163,817 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,347,276 |
| Noncash contributions included in lines 1a–1f | $54,855 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,756,078 |
| Total Program Service Revenue | $154,305 |
| Investment income | $492,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $72,476 |
| Net Gain/Loss on Asset Sales | $2,329,130 |
| Net Income from Fundraising Events | $53,341 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,053,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $969,205 |
| Grants and other assistance to domestic individuals. | $88,713 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $365,238 |
| Compensation of current officers, directors, key employees. | $179,291 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $775,658 |
| Pension plan accruals and contributions | $22,190 |
| Other employee benefits | $87,346 |
| Payroll taxes | $83,578 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,856 |
| Fees for services: Accounting | $59,533 |
| Fees for services: Lobbying | $186,125 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $135,628 |
| Fees for services: Other | $193,310 |
| Advertising and promotion | $1,575 |
| Office expenses | $291,627 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $268,591 |
| Travel | $45,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $138,728 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $73,400 |
| Insurance | $92,329 |
| All other expenses | $0 |
| Total functional expenses | $3,926,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,251 |
| Savings and temporary cash investments | $15,114,887 |
| Pledges and grants receivable | $176,069 |
| Accounts receivable, net | $4,151 |
| 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 | $45,449 |
| Net Land, buildings, and equipment | $5,478,320 |
| Investments—publicly traded securities | $26,605,044 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,293,763 |
| Total assets | $55,826,934 |
| Accounts payable and accrued expenses | $252,141 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $205,392 |
| Other liabilities | $143,560 |
| Total liabilities | $601,093 |
| Net assets without donor restrictions | $14,615,885 |
| Net assets with donor restrictions | $40,609,956 |
| 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 | $55,826,934 |
Grants Awarded
Over the last fiscal year, United States Merchant Marine Academy Alumni Association And Fou has awarded $969,205 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
US MERCHANT MARINE ACADEMY PURPOSE: midshipmen/academy activities | $959,205 |
Houston, TX PURPOSE: Support Mission | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that United States Merchant Marine Academy Alumni Association And Fou has recieved totaling $423,137.
| Awarding Organization | Amount |
|---|---|
Yocum Family Perpetual Charitable Tr Wilmington, DE PURPOSE: General Purposes, Without Restriction | $262,008 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $59,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $27,451 |
Baltimore Community Foundation Inc Baltimore, MD PURPOSE: GENERAL SUPPORT AND VARIOUS PROJECTS | $20,300 |
Gratis Foundation Washington, DC PURPOSE: GENERAL USE | $15,000 |
Arizona Community Foundation Phoenix, AZ PURPOSE: PROGRAM SUPPORT | $9,000 |
Endowment Analysis
| Beg. Balance | $16,681,159 |
| Earnings | $1,978,896 |
| Admin Expense | $90,697 |
| Net Contributions | $6,294 |
| Ending Balance | $18,575,652 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Coast Guard Academy Alumni Association Inc New London, CT | $53,324,091 | $18,444,264 |
Penn State Alumni Association University Park, PA | $100,014,631 | $13,658,978 |
Baseball Assistance Team Inc New York, NY | $16,328,027 | $4,707,517 |
United States Merchant Marine Academy Alumni Association And Fou Kings Point, NY | $55,826,934 | $8,053,233 |
Alumni Association Of New Jersey Institute Of Technology Paramus, NJ | $0 | $306,119 |
Alumni Of The Rabbinical College Knesseth Israel Of Slabodka Kowno Brooklyn, NY | $341,064 | $3,063,744 |
The Bronx High School Of Science Alumni Foundation Inc Bronx, NY | $31,172,697 | $12,367,161 |
Bernard M Baruch College Association Inc New York, NY | $9,740,278 | $4,039,630 |
Wellesley College Alumnae Association Wellesley, MA | $21,826,732 | $2,808,656 |
Yale Alumni Publications Inc New Haven, CT | $28,715 | $87,332 |
Seoul National University Foundation Inc Fort Lee, NJ | $6,845,557 | $3,716,699 |
Syracuse Health Science Center Medical Alumni Foundation Inc Syracuse, NY | $50,640,765 | $25,764,011 |