United States Naval Academy Alumni Assoc
- Assets
- $136.3m
- Revenue
- $26.9m
- Investments
- $69.6m
- Employees
- 50
- Location
- Annapolis, MD
- Founding
- 09/2007
- Data as of
- 06/2022
- EIN
- 52-0548411
Organization Overview
United States Naval Academy Alumni Assoc is located in Annapolis, MD. The organization was established in 2007. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 06/2022, United States Naval Academy Alumni Assoc employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United States Naval Academy Alumni Assoc 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 06/2022, United States Naval Academy Alumni Assoc generated $26.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $11.6m during the year ending 06/2022. While expenses have increased by 1.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE AND SUPPORT THE UNITED STATES, THE NAVAL SERVICE, THE NAVAL ACADEMY, AND ITS ALUMNI.
Describe the Organization's Program Activity:
MEMBERSHIP SUPPORT - COSTS TO PROVIDE SERVICES TO MEMBERS OF THE ALUMNI ASSOCIATION, CLASS AND CHAPTER SUPPORT, AND SPECIAL ALUMNI EVENTS. THE ASSOCIATION MANAGES THE SERVICE ACADEMY CAREER CONFERENCES FOUR TIMES PER YEAR IN DIFFERENT AREAS OF THE U.S. THE CAREER PROGRAMS DEPARTMENT HAS ASSISTED THOUSANDS OF GRADS WITH THEIR CAREER TRANSITION. THE ASSOCIATION ENGAGED WITH 69,744 EXISTING AND 2,190 NEW MEMBERS IN THE CURRENT FISCAL YEAR. THE ASSOCIATION SUPPORTS 102 CHAPTERS AROUND THE WORLD, 77 PARENT CLUBS THROUGHOUT THE US AND 5 SHARED INTEREST GROUPS. STAFF SUPPORTS AN INTERNATIONAL CHAPTER OFFICER'S FORUM EACH YEAR, TWO CLASS MEETINGS AND VARIOUS PARENT FUNCTIONS. ASSOCIATION MEMBERS ARE INVITED TO PARTICIPATE IN A NUMBER OF SPECIAL EVENTS INCLUDING TAILGATES AND FOUNDER'S DAY, LUNCHEONS WITH SPEAKERS, ACADEMY EVENTS AND ACTIVITIES WITH THE BRIGADE OF MIDSHIPMEN.
SUPPORT - THE ASSOCIATION MAKES CONTRIBUTIONS TO THE U.S. NAVAL ACADEMY AND THE U.S. NAVAL ACADEMY FOUNDATION INC., A RELATED PARTY. CONTIBUTIONS TO U.S. NAVAL ACADEMY SUPPORTED CYBER PROGRAMS, STEM AND ENDOWED CHAIRS, MIDSHIPMEN CLUBS SPORTS AND INTERNATIONAL TRAVEL/STUDIES, CREATIVE ARTS AND ATHLETIC FACILITIES. CONTRIBUTIONS TO THE U.S. NAVAL ACADEMY FOUNDATION SUPPORTED INFORMATION MANAGEMENT AND TREASURY FUNCTIONS.
ALUMNI COMMUNICATIONS - SUPPORT FOR ALL ELECTRONIC AND WEBSITE-BASED COMMUNICATIONS. THE ASSOCIATION SUPPORTS IT MEMBERS WORLDWIDE THROUGH ITS ROBUST WEBSITE AND ELECTRONIC COMMUNICATIONS, HELPING TO SUSTAIN THEIR BOND WITH THE SCHOOL, THEIR CLASS AND CLASSMATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cdr Craig J Washington Secretary/vp Engagement (see Sch J) | Officer | 50 | $241,184 |
Byron F Marchant President/ceo (see Sch J) | Officer | 24 | $228,429 |
Michael Mundt Sr Dir Inv & Treas Ops (see Sch J) | 50 | $176,665 | |
Scott Gaiser Dir, Real Estate & It Ops (see Sch J) | 50 | $143,214 | |
Courtney Jolley Sr Dir, Communications | 50 | $135,213 | |
Garrett Keating Director, It (see Sch J) | 50 | $132,057 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Builderguru Contracting Inc Building Consultant | 6/29/22 | $1,879,661 |
Martin's - Bo Brooks Llc Catering | 6/29/22 | $926,168 |
Perkins Eastman Architects Dpc Architects | 6/29/22 | $1,140,299 |
Lsc Communications Printer | 6/29/22 | $350,709 |
Cockley & Williams Construction Llc General Contractor | 6/29/22 | $266,783 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,949,586 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,544,150 |
| Noncash contributions included in lines 1a–1f | $1,515,525 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,493,736 |
| Total Program Service Revenue | $1,742,222 |
| Investment income | $313,975 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $685,123 |
| Net Rental Income | $156,299 |
| Net Gain/Loss on Asset Sales | $7,400,993 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,058 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,897,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,391,122 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $85,413 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $625,814 |
| Compensation of current officers, directors, key employees. | $61,659 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,863,851 |
| Pension plan accruals and contributions | $160,875 |
| Other employee benefits | $102,327 |
| Payroll taxes | $259,169 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $57,437 |
| Fees for services: Accounting | $73,666 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,093 |
| Fees for services: Other | $2,229,683 |
| Advertising and promotion | $0 |
| Office expenses | $1,059,755 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $734,688 |
| Travel | $186,447 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $176,986 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,798 |
| Insurance | $51,824 |
| All other expenses | $159,835 |
| Total functional expenses | $11,615,230 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350 |
| Savings and temporary cash investments | $40,750,654 |
| Pledges and grants receivable | $9,094,084 |
| Accounts receivable, net | $250,856 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,018 |
| Prepaid expenses and deferred charges | $683,992 |
| Net Land, buildings, and equipment | $10,849,079 |
| Investments—publicly traded securities | $1,891,462 |
| Investments—other securities | $69,565,748 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,216,102 |
| Total assets | $136,310,345 |
| Accounts payable and accrued expenses | $3,786,006 |
| 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 | $0 |
| Other liabilities | $7,593,851 |
| Total liabilities | $11,379,857 |
| Net assets without donor restrictions | $28,856,460 |
| Net assets with donor restrictions | $96,074,028 |
| 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 | $136,310,345 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that United States Naval Academy Alumni Assoc has recieved totaling $3,078,563.
| Awarding Organization | Amount |
|---|---|
United States Naval Academy Foundation Inc Annapolis, MD PURPOSE: GENERAL SUPPORT | $2,949,586 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $49,538 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $26,350 |
Lakeside Foundation Jenkintown, PA PURPOSE: GENERAL FUND | $20,000 |
Uvas Foundation Jenkintown, PA PURPOSE: GENERAL PURPOSE | $10,000 |
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
Endowment Analysis
| Beg. Balance | $150,486,340 |
| Earnings | -$7,157,111 |
| Admin Expense | $1,124,067 |
| Net Contributions | $65,439 |
| Other Expense | $2,169,349 |
| Ending Balance | $140,101,252 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United States Naval Academy Alumni Assoc Annapolis, MD | $136,310,345 | $26,897,412 |
Penn State Alumni Association University Park, PA | $100,014,631 | $13,658,978 |
University Of Maryland Alumni Association Inc College Park, MD | $12,691,064 | $3,266,987 |
West Virginia University Alumni Association Inc Morgantown, WV | $18,753,718 | $1,910,317 |
Medical College Of Va Alumni Assoc Of Virginia Commonwealth Univ Richmond, VA | $0 | $190,238 |
Thaddeus Stevens Foundation Lancaster, PA | $7,318,571 | $3,742,597 |
Virginia Commonwealth Universi ALUMNI Richmond, VA | $0 | $210,514 |
V M I Alumni Association Lexington, VA | $3,901,860 | $1,387,698 |
The William & Mary Alumni Association Williamsburg, VA | $17,614,016 | $1,967,274 |
Medical Alumni Association Of The University Of Maryland Inc Baltimore, MD | $3,956,640 | $1,660,288 |
West Virginia University Alumni Association Loyalty Permanent Endo Morgantown, WV | $16,950,235 | $1,354,020 |
National Taiwan Univ Schl Of Pharm Alumni Assoc In North Amer Inc New Britain, PA | $777,638 | $702,875 |