Navy Museum Development Foundation
- Assets
- $5.6m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- Data as of
- 12/2023
- EIN
- 85-3976615
Organization Overview
Navy Museum Development Foundation is located in Washington, DC. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Navy Museum Development 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 12/2023, Navy Museum Development Foundation generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 54.0% each year . All expenses for the organization totaled $1.2m during the year ending 12/2023. While expenses have increased by 60.4% per year over the past 2 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PERPETUATE THE HERITAGE OF THE UNITED STATES NAVY BY SUPPORTING AND RAISING FUNDS FOR THE ESTABLISHMENT OF A NATIONAL MUSEUM OF THE UNITED STATES NAVY IN WASHINGTON, D.C.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERPETUATE THE HERITAGE OF THE UNITED STATES NAVY BY SUPPORTING AND RAISING FUNDS FOR THE ESTABLISHMENT OF A NATIONAL MUSEUM OF THE UNITED STATES NAVY IN WASHINGTON, D.C.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
The Honorable Kenneth J Braithwaite Chairman | OfficerTrustee | 1.25 | $0 |
Dr Jerry Hendrix Secretary | OfficerTrustee | 1.25 | $0 |
Vadm Albert H Konetzni President | OfficerTrustee | 1.25 | $0 |
Dr Christopher Lehman Director | Trustee | 1.25 | $0 |
Dr Jennifer London Director | Trustee | 1.25 | $0 |
Radm Mark Montgomery Treasurer | OfficerTrustee | 1.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,066,878 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,066,878 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,066,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,147,008 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,545 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,300 |
| Office expenses | $2,902 |
| Information technology | $2,557 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,878 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,308 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $705 |
| All other expenses | $0 |
| Total functional expenses | $1,218,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,678 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,498,801 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,570,479 |
| Accounts payable and accrued expenses | $1,796 |
| 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 | $2,084,451 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,086,247 |
| Net assets without donor restrictions | -$2,014,569 |
| Net assets with donor restrictions | $5,498,801 |
| 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 | $5,570,479 |