Admiral Nimitz Foundation
- Assets
- $22.0m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 67
- Location
- Fredericksburg, TX
- Founding
- 12/1964
- Data as of
- 12/2022
- EIN
- 74-1492692
Organization Overview
Admiral Nimitz Foundation is located in Fredericksburg, TX. The organization was established in 1964. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Admiral Nimitz Foundation employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Admiral Nimitz Foundation 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, Admiral Nimitz Foundation generated $7.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $6.5m during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 6 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATE AND SUPPORT THE STATE-OWNED MUSEUM EXPERIENCE THROUGH ITS EXTENSIVE COLLECTION TO EDUCATE AND INSPIRE PRESENT AND FUTURE GENERATIONS ABOUT WORLD WAR II IN THE ASIATIC PACIFIC THEATER AND THE RELEVANCE OF ITS LESSONS AND THE EFFECTS WORLDWIDE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSEUM SUPPORT: THE ORGANIZATION OVERSEES AND MANAGES, UNDER AGREEMENT WITH THE TEXAS HISTORICAL COMMISSION, THE NATIONAL MUSEUM OF THE PACIFIC WAR. VISITATION ATTENDANCE IN 2023 WAS 147,080.IN ADDITION TO ORDINARY OPERATIONS DURING 2023, ADMIRAL NIMITZ FOUNDATION RAISED FUNDS AND BEGAN PLANNING THE RENOVATION AND EXPANSION OF THE BUSH GALLERY AND EDUCATION DEPARTMENT.
RETAIL SALES:THE ORGANIZATION OVERSEES AND MANAGES A MUSEUM STORE AND A BOOKSTORE THAT SELLS REFERENCES AND SOUVENIRS RELATING TO THE HISTORY OF WORLD WAR II IN THE PACIFIC.
MEMORIALS AND MEMBERSHIPS:THE ORGANIZATION IS SUPPORTED BY OVER 1,500 MEMBERS AND CONTINUES TO EXPAND A MEMORIAL WALL OF PLAQUES IN HONOR OF WORLD WAR II HEROES AND A WALK OF ENGRAVED BRICKS THAT HONORS ALL MEN AND WOMEN WHO HAVE SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gen Michael W Hagee Usmcret President And CEO | OfficerTrustee | 40 | $105,779 |
Julie Alvarez Director | Trustee | 0.2 | $0 |
Elizabeth Boldrick Director | Trustee | 0.2 | $0 |
David D Fitch Director | Trustee | 0.2 | $0 |
Carlos Jay Guerrero Director | Trustee | 0.2 | $0 |
John E Harris Director | Trustee | 0.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
M5 Construction Roof Repair | 12/30/23 | $399,060 |
Exhibit Concepts Inc Exhibit Design | 12/30/23 | $376,306 |
University Of North Texas Libraries Collections Digitization | 12/30/23 | $124,170 |
Boston Productions Exhibit Design | 12/30/23 | $361,427 |
Kofile Critical Records Preservation | 12/30/23 | $113,928 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $173,820 |
| Related organizations | $0 |
| Government grants | $2,618,872 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,289,311 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,082,003 |
| Total Program Service Revenue | $2,031,178 |
| Investment income | $746,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $10,135 |
| Net Rental Income | $40,059 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $296,245 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $379,057 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,585,485 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $23,000 |
| 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. | $176,081 |
| Compensation of current officers, directors, key employees. | $25,724 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,716,320 |
| Pension plan accruals and contributions | $6,125 |
| Other employee benefits | $383,499 |
| Payroll taxes | $140,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $55,766 |
| Fees for services: Investment Management | $175,688 |
| Fees for services: Other | $86,256 |
| Advertising and promotion | $350,506 |
| Office expenses | $147,953 |
| Information technology | $152,789 |
| Royalties | $0 |
| Occupancy | $149,382 |
| Travel | $12,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,722 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,963 |
| Insurance | $70,720 |
| All other expenses | $0 |
| Total functional expenses | $6,527,391 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,480 |
| Savings and temporary cash investments | $3,294,664 |
| Pledges and grants receivable | $27,567 |
| Accounts receivable, net | $7,658 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $215,060 |
| Prepaid expenses and deferred charges | $102,731 |
| Net Land, buildings, and equipment | $2,472,817 |
| Investments—publicly traded securities | $15,796,491 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,975,468 |
| Accounts payable and accrued expenses | $495,273 |
| Grants payable | $0 |
| Deferred revenue | $124,952 |
| 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 | $620,225 |
| Net assets without donor restrictions | $19,606,683 |
| Net assets with donor restrictions | $1,748,560 |
| 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 | $21,975,468 |
Grants Awarded
Over the last fiscal year, Admiral Nimitz Foundation has awarded $41,569 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
VETERANS ASSISTANCE DOGS OF TEXAS INC PURPOSE: ASSIST WOUNDED SERVICE MEMBERS | $15,569 |
COMBAT MARINE OUTDOORS INC PURPOSE: ASSIST WOUNDED SERVICE MEMBERS | $26,000 |