Aircraft Carrier Hornet Foundation

Nonprofit profile at a glance

EIN
943226801
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Alameda, CA, USA
Phone
5105218448
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
History Museums

Official website

Reported finances

Revenue
$3,124,099
Expenses
$3,403,014
Assets
$1,753,325
Liabilities
$726,092

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • LAURA FIES (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LAURA FIES (EXECUTIVE DIRECTOR): $95,000 total reported compensation
  • ISABEL ANSCHUTZ (CHIEF COMPLIANCE OFFICER): $84,671 total reported compensation
  • JOSE FERREIRA (CHIEF OPERATIONS OFFICER): $75,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The foundation preserves and honors the legacy of the uss hornet, a national historic landmark, and its role in naval aviation, the defense of our country, the apollo programs, and exploration of space. The uss hornet connects the greatest generation of americans with future generations, educating and inspiring them to meet the challenges they will face in the days to come.

What it reported doing in 2024

The uss hornet is a vintage wwii aircraft carrier. Maintaining such a large ship in good order is costly. Moreover, the ship operates as a museum, serving the public; consequently, there are many local inspections designed to secure public safety. Maintaining the ship/museum is an ongoing project.

Operating model

Revenue model
Earned-program. 79% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 87
  • Accountability: 95
  • Sustainability: 19
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.2%; rating input score 87
  • Program expense ratio: 76.3%; rating input score 76
  • Fundraising efficiency: $26.41 raised per $1 spent on fundraising; rating input score 66; 66th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.9%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.41; rating input score 26; 26th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: -2.8% per year; rating input score 0; 7th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 87.2% of revenue deployed · 76.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $2.6M in reported program spending
  • Leadership: top reported pay $95K · 18 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 26/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.