2024-05-13T11:57:25-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2023-01-01 521814344 THE NAVAL INSTITUTE FOUNDATION INC NAVA 4102686110 291 WOOD ROAD ANNAPOLIS MD 214025034 DOUGLAS WALLEN TREASURER 4102686110 2024-05-10 1 DOUGLAS WALLEN XXX-XX-XXXX 1 ROBERT WILLIAMS P01345960 5712279500 2024-05-02 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z RAYMOND A SPICER 291 WOOD ROAD ANNAPOLIS MD 214025034 9412802 0 X WWW.USNI.ORG X 1992 MD TO RAISE FUNDS AND FURTHER THE MISSION OF THE UNITED STATES NAVAL INSTITUTE (THE INSTITUTE). 12 10 0 10 0 0 4964541 9244036 0 0 109157 168766 0 0 5073698 9412802 4122780 3496650 0 0 980697 1205985 0 0 1422160 454755 498027 5558232 5200662 -484534 4212140 13167023 11834384 5878570 158402 7288453 11675982 THE NAVAL INSTITUTE FOUNDATION WAS ORGANIZED TO OPERATE EXCLUSIVELY TO RAISE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES TO FURTHER THE MISSION AND POLICIES OF THE UNITED STATES NAVAL INSTITUTE. 0 0 3496650 3496650 0 THE FOUNDATION RAISED FUNDS TO SUPPORT THE ACTIVITIES OF THE UNITED STATES NAVAL INSTITUTE. THIS ORGANIZATION IS A SEC. 509(A)(3) SUPPORTING ORGANIZATION. MISSION: PROVIDE AN INDEPENDENT FORUM FOR THOSE WHO DARE TO READ, THINK, SPEAK AND WRITE TO ADVANCE THE PROFESSIONAL, LITERARY, AND SCIENTIFIC UNDERSTANDING OF SEA POWER AND OTHER ISSUES CRITICAL TO GLOBAL SECURITY. VISION: GIVING VOICE TO ALL WHO SEEK THE FINEST NAVY, MARINE CORPS, AND COAST GUARD. 3496650 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 10 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 AK AL AR CA CO CT FL GA HI IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X DOUGLAS WALLEN 4105711707 291 WOOD ROAD ANNAPOLIS MD 21402 VADM PETER H DALY USN RET CEO, DIRECTOR (THROUGH NOV 2023) 10.00 30.00 X X 0 499136 10191 HEATHER LANCASTER COO, SECRETARY, DIRECTOR 35.00 5.00 X X 0 179248 7135 RADM RAYMOND A SPICER USN RET CEO, DIRECTOR (BEG DEC 2023) 10.00 30.00 X X 0 88723 4380 GEN PETER PACE USMC RET CHAIRMAN, DIRECTOR 2.00 0.00 X X 0 0 0 MICHAEL M WISEMAN ESQ VICE-CHAIRMAN, DIRECTOR 1.00 0.00 X X 0 0 0 RADM KENDELL PEASE USN RET DIRECTOR 1.00 0.00 X 0 0 0 MR STEPHEN M WATERS DIRECTOR 1.00 0.00 X 0 0 0 CDR GREGORY E GLAROS USN RET DIRECTOR 1.00 0.00 X 0 0 0 ADM JONATHAN GREENERT USN RET DIRECTOR - BOARD LIAISON 1.00 2.00 X 0 0 0 MARTI TOMSON RODAMAKER DIRECTOR (THROUGH NOV 2023) 1.00 0.00 X 0 0 0 MARTIN J BOLLINGER DIRECTOR (BEG NOV 2023) 1.00 0.00 X 0 0 0 JANE CLAYTON JOHNSON DIRECTOR (BEG NOV 2023) 1.00 0.00 X 0 0 0 DIRK P MOSIS DIRECTOR (BEG NOV 2023) 1.00 0.00 X 0 0 0 MICHAEL J SALVATO DIRECTOR (BEG NOV 2023) 1.00 0.00 X 0 0 0 DOUGLAS WALLEN TREASURER 8.00 32.00 X 0 200793 33398 0 967900 55104 0 0 1 0 0 35097 9208939 61684 9244036 168766 168766 9412802 0 0 168766 3496650 3496650 360531 36053 324478 696418 69642 626776 149036 14904 134132 51565 51565 15831 15831 1722 1722 52607 52607 4823 482 4341 84051 8405 75646 79449 7945 71504 12997 1300 11697 38168 3818 34350 2823 2823 37801 3780 34021 29290 2929 26361 CULTIVATION 66720 66720 STATE REGISTRATIONS 11974 11974 REFERENCE MATERIALS 8028 8028 OTHER 178 18 160 5200662 3496650 281852 1422160 2171125 283624 1284946 6009101 5070640 8154 10400 3982254 4023870 996389 1160904 13167023 11834384 5500000 378570 158402 5878570 158402 X 1364301 5724741 5924152 5951241 7288453 11675982 13167023 11834384 X 4212140 192012 -16623 X 0 1 X 1 0 X X X 1 US NAVAL INSTITUTE 520643040 10 1 3496650 0 1 3496650 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 862763 73008 935771 1040885 -178122 862763 986376 109289 54780 1040885 917564 120728 51916 986376 935881 145750 164067 917564 0.00000 1.00000 0.00000 0 0 0 TIFF MULTI-ASSET FUND 1160904 F 1160904 DUE TO UNITED STATES NAVAL INSTITUTE 158402 158402 X PART V, LINE 4: THE INSTITUTE ALLOCATES THE INVESTMENT INCOME GENERATED BY THE ENDOWMENT EACH YEAR BASED ON THE PURPOSE OF THE ENDOWMENT AND THE DONOR'S REQUEST. IF THE DONOR DOES NOT SPECIFY A PURPOSE OF THE INCOME GENERATED FROM THEIR PERMANENTLY RESTRICTED ENDOWMENT, THE INCOME IS USED FOR GENERAL SUPPORT AND IS DISTRIBUTED ANNUALLY. PART X, LINE 2: THE FOUNDATION ADOPTED THE GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT HAS DETERMINED THAT THE FOUNDATION HAS NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION UNDER THE GUIDANCE. 1 UNITED STATES NAVAL INSTITUTE 291 WOOD ROAD ANNAPOLIS MD 214025034 520643040 501(C)(3) 3496650 0 N/A N/A TO ADVANCE PROFESSIONAL, LITERARY, AND SCIENTIFIC UNDERSTANDING OF SEA POWER. 1 PART I, LINE 2: THE FOUNDATION, THROUGH REVIEW AND APPROVAL OF THE U.S. NAVAL INSTITUTE'S EXPENSES, MONITORS GRANTS AWARDED TO ENSURE THAT ALL FUNDS GIVEN ARE BEING UTILIZED FOR THE INTENDED PURPOSE. 0 0 0 0 0 0 0 0 0 VADM PETER H DALY USN RET CEO, DIRECTOR (THROUGH NOV 2023) 0 368846 0 100000 0 30290 0 9152 0 1039 0 509327 0 0 DOUGLAS WALLEN TREASURER 0 171660 0 29133 0 0 0 7147 0 26251 0 234191 0 0 HEATHER LANCASTER COO, SECRETARY, DIRECTOR 0 149248 0 30000 0 0 0 5962 0 1173 0 186383 0 0 PART I, LINE 3 THE CEO OF THE UNITED STATES NAVAL INSTITUTE (THE INSTITUTE) IS THE CEO OF THE FOUNDATION, BUT IS FULLY COMPENSATED BY THE INSTITUTE. THE SALARY OF THE INSTITUTE'S CEO IS DETERMINED BY THE BOARD OF DIRECTORS OF THE INSTITUTE - SPECIFICALLY THE COMPENSATION COMMITTEE WHICH REVIEWS THE SALARY OF THE CEO ANNUALLY. THE COMPENSATION COMMITTEE REVIEWS COMPARABLE SALARIES FOR SIMILAR ORGANIZATIONS WHEN THE CEO EMPLOYMENT CONTRACT IS RENEWED. X 1 35000 APPRAISAL X 1 2184 STOCK EXCHANGE X 1 24500 APPRAISAL 0 0 1 0 PART I, COLUMN (B): THE NUMBER REPORTED IN PART I, COLUMN B IS THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 7A THE NAVAL INSTITUTE FOUNDATION IS A TYPE I SUPPORTING ORGANIZATION WHOSE GOVERNING BODY IS APPOINTED BY THE BOARD OF DIRECTORS OF THE INSTITUTE, THE SUPPORTED ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS OF THE INSTITUTE, THE SUPPORTED ORGANIZATION, IS RESPONSIBLE FOR FILLING VACANCIES FOR BOTH TRUSTEES AND OFFICERS, THE REMOVAL OF TRUSTEES (IF NECESSARY), THE APPOINTMENT OF THE CHAIR AND VICE-CHAIR, AND THE AMENDING OF BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS COMPLETED ON AN ANNUAL BASIS WITH COPIES BEING PROVIDED TO THE TRUSTEE BOARD, THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS OF THE INSTITUTE, AND THE CEO OF THE ORGANIZATION FOR REVIEW. ONCE ALL NECESSARY CHANGES ARE MADE, IT WILL BE SIGNED BY THE TREASURER AND DATED AND SUBMITTED BY THE FILING DEADLINE. A FINAL COPY OF THE APPROVED FORM 990 WILL BE PROVIDED TO ALL OFFICERS AND DIRECTORS AT THE TIME IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE NAVAL INSTITUTE FOUNDATION HAS ADOPTED THE CONFLICT OF INTEREST POLICY OF THE UNITED STATES NAVAL INSTITUTE WHICH COVERS ANY DIRECTOR, OFFICER, MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS, OR KEY EMPLOYEE. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTEREST, THE NATURE OF SUCH INTEREST, AND ALL MATERIAL FACTS TO THE BOARD OF DIRECTORS OF THE INSTITUTE (THE "BOARD") OR TO ANY SPECIAL COMMITTEES WITH BOARD DELEGATED POWERS (E.G., CONFLICTS OR COMPENSATION COMMITTEES) CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON SHALL EXCUSE HIMSELF OR HERSELF FROM THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING, BUT AFTER SUCH PRESENTATION, THE INTERESTED PERSON SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE POSSIBLE CONFLICT OF INTEREST. THE BOARD OR THE COMMITTEE SHALL UNDERTAKE, OR APPOINT A DISINTERESTED PERSON OR COMMITTEE TO UNDERTAKE, AN APPROPRIATE DUE DILIGENCE INVESTIGATION, INCLUDING AN ANALYSIS OF ALL MATERIAL FACTS RELATED TO THE POSSIBLE CONFLICT OF INTEREST, COLLECTION OF DATA ON COMPARABLE ARRANGEMENTS OR TRANSACTIONS, AND THE DEVELOPMENT AND INVESTIGATION OF ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE INSTITUTE CAN OBTAIN, WITH REASONABLE EFFORTS, A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE INSTITUTE'S BEST INTEREST AND FOR ITS OWN BENEFIT AND CHARITABLE PURPOSES AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE INSTITUTE, AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATIONS. THE MINUTES OF THE BOARD AND ANY SPECIAL COMMITTEE WITH BOARD DELEGATED POWERS SHALL CONTAIN THE FOLLOWING: THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THE FINANCIAL INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT OF INTEREST WAS PRESENT, AND THE DECISION OF THE BOARD OR COMMITTEE AS TO WHETHER A CONFLICT OF INTEREST EXISTS; THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS: AVAILABLE TO MEMBERS OF THE INSTITUTE ON THE WEBSITE, ALL OTHERS UPON REQUEST. CONFLICT OF INTEREST POLICY: BY REQUEST FINANCIAL STATEMENTS: AVAILABLE TO MEMBERS OF THE INSTITUTE ON THE WEBSITE, ALL OTHERS UPON REQUEST. FORM 990, PART XI, LINE 9: RESERVE FOR PLEDGES -16,625. ROUNDING 2. UNITED STATES NAVAL INSTITUTE 291 WOOD ROAD ANNAPOLIS MD 214025034 520643040 TO ADVANCE PROFESSIONAL, LITERARY, AND SCIENTIFIC UNDERSTANDING OF SEA POWER MD 501(C)(3) LINE 10 N/A 0 0 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 0 0 0