U.S. Naval Academy Alumni Association & Foundation

Legal name: Us Naval Academy Foundation Inc

Nonprofit profile at a glance

EIN
237003516
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-T 2024
Location
Annapolis, MD, USA
Phone
4102954000
Rating
73
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$79,865,558
Expenses
$47,764,827
Assets
$418,994,710
Liabilities
$26,329,786

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

Leadership & pay

61 people listed

Executive titles in this filing

  • JEFFREY R WEBB (PRESIDENT/CEO (SEE SCH J))

Highest reported compensation

  • JEFFREY R WEBB (PRESIDENT/CEO (SEE SCH J)): $606,577 total reported compensation
  • WILLIAM O'CONNOR (SEC/EVP DEV (SEE SCH J)): $446,736 total reported compensation
  • ROBERT W GAST (FORMER EVP & CFO/TREAS (SEE SCH J)): $325,094 total reported compensation

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

Overview

Mission

We support and connect the alumni & friends of the U.S. Naval Academy with programs, volunteers and critical philanthropy.

What it reported doing in 2024

Support included direct and indirect support for usna endowed positions and program support for cyber security, athletic excellence, stem, minority outreach, leadership development and international programs. Grants to usna also supported project based learning, admissions support, the academic center and the center of ethical leadership. Grants to the alumni association were in support of operations.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 77
  • Accountability: 99
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.6%; rating input score 49
  • Program expense ratio: 69.5%; rating input score 69
  • Fundraising efficiency: $5.22 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 33rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: No; rating input score 0

Accountability

  • Independent voting board: 97.8%; rating input score 98; 54th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 40.2%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 8.77; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 87; 87th percentile among comparable filings
  • Officer compensation ratio: 5.6%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 5.6% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: 48.6% of revenue deployed · 69.5% of spending went to programs
  • Governance: 45 of 46 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $33.2M in reported program spending
  • Leadership: top reported pay $607K · 61 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $629K reported
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 49/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.