2026-07-03T13:07:29-05:00 2025-12-31 990 2025-01-01 461084699 FRIENDS OF NAVAL ACADEMY MUSIC INC FRIE 4437165806 1428 CROFTON PARKWAY CROFTON MD 21114 AMY SMITH TREASURER 4437165806 2026-07-03 2025 2025-03-06 01:10:19Z FONAM AMY SMITH 1428 CROFTON PARKWAY CROFTON MD 21114 409867 0 X WWW.FONAM.ORG X 2013 MD THE ORGANIZATION SEEKS TO RAISE FUNDS TO PERMANENTLY SUPPORT AND SUSTAIN THE MUSIC DEPARTMENT AT THE UNITED STATES NAVAL ACADEMY. 15 15 0 0 0 0 124511 136073 0 0 108116 35951 0 12300 232627 184324 55395 60378 0 0 0 0 0 0 6953 23693 20653 79088 81031 153539 103293 730291 889938 0 986 730291 888952 X FRIENDS OF NAVAL ACADEMY MUSIC, INC (FONAM) IS A 501 (C) 3 NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE PRIVATE FINANCIAL SUPPORT FOR NAVAL ACADEMY MUSICAL ACTIVITIES. OUR INITIAL GOAL IS TO RAISE $10 MILLION IN OPERATING FUNDS WHICH WOULD GUARANTEE THE SUSTAINABILITY OF THE MUSIC PROGRAM AT USNA FOR YEARS TO COME. FONAM FUNDS ARE 100% ALLOCATED TOWARDS MUSICAL ACTIVITIES, WITH NO RESTRICTIONS IN TIMES OF DEFENSE BUDGETARY CUTS OR SEQUESTRATION, MAKING THEM MORE VITAL NOW THAN EVER. FUNDS RAISED ARE ALLOCATED AMONG BUILDING STRATEGIC AND EMERGENCY RESERVES AND IMMEDIATE PROGRAM FUNDING. 0 0 63336 60378 FONAM PURCHASED AND DONATED 10 EUPHONIUMS IN FEBRUARY 2025 TOTALING $26,878, WHICH WERE DELIVERED WITHIN THREE WEEKS AND READY FOR THE PLEBE CLASS OF THE DRUM & BUGLE CORPS TO PLAY DURING PLEBE SUMMER 2025. THE BOARD MADE A DONATION TO USNA MUSIC OF $33,500 IN DECEMBER 2025. THESE DONATIONS CONTRIBUTED TO THE MARGIN OF EXCELLENCE, WHICH ENABLED THE MUSIC PROGRAM AT THE UNITED STATES NAVAL ACADEMY TO CONTINUE TO PURSUE ITS MISSION OF TRAINING FUTURE NAVAL AND MARINE CORPS OFFICERS FOR CAREERS IN THE FLEET. THE ORGANIZATION INFUSED MONEY INTO ITS INVESTMENT AND ENDOWMENT ACCOUNTS AND WATCHED THEM GROW DURING 2025. THE VALUE ROSE FROM $708,000 AT THE BEGINNING OF 2025 TO OVER $831,000 BY THE END OF 2025. OF THIS GROWTH, $53,756 CAME FROM TRANSFERS INTO THE INVESTMENT ACCOUNTS DURING 2025. THE INVESTMENTS, WHICH ARE MANAGED BY OUR DIRECTOR OF INVESTMENTS IN CONNECTION WITH THE INVESTMENT COMMITTEE, SERVE LONG- AND SHORT-TERM PURPOSES OF THE ORGANIZATION. A SMALL PORTION OF OUR INVESTMENTS IS HELD IN A MONEY MARKET FUND, WHERE ALL INCOME IS ACCUMULATED DURING THE YEAR. THIS FUND IS AVAILABLE TO DISTRIBUTE ANNUALLY TO THE MUSIC DEPARTMENT AT THE UNITED STATES NAVAL ACADEMY TO SUPPORT ITS ONGOING MISSION AND OPERATIONS. APPROXIMATELY HALF OF THE INVESTMENTS ARE HELD IN A STRATEGIC RESERVE FUND INTENDED TO GROW OVER THE LONG TERM. THE REMAINING INVESTMENTS ARE HELD IN ENDOWMENT FUNDS, WHICH PURPOSE IS TO GROW AND BE USED TO SUPPORT THE MUSICAL ACTIVITIES DEPARTMENT BY THEIR INCOME STREAM. 63336 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 1 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 MD TN FL CO ME MN SC GA NY HI PA X AMY K SMITH CPA 4437165806 180 ADMIRAL COCHRANE DRIVE SUITE ANNAPOLIS MD 21401 X JOHN BARRY TALLEY DIRECTOR OF INVESTMENTS 1.00 X 0 0 0 CHRIS JENSEN DIRECTOR 1.00 X 0 0 0 APRIL MCBRIDE DIRECTOR 1.00 X 0 0 0 CHRIS O'KEEFE DIRECTOR 1.00 X 0 0 0 CHAD REDMER DIRECTOR 1.00 X 0 0 0 NATE SHENCK PAST PRESIDENT AND DIRECTO 1.00 X 0 0 0 KATE KRANZ JORDAN DIRECTOR 1.00 X 0 0 0 ALICE ANN CALHOUN DIRECTOR 1.00 X 0 0 0 DAVID EDGERTON DIRECTOR 1.00 X 0 0 0 BRIAN FONTAINE-ISAAC DIRECTOR 1.00 X 0 0 0 PAUL WEITLISBACH DIRECTOR 1.00 X 0 0 0 SARAH GLASS DIRECTOR 1.00 X 0 0 0 PAUL WOOD PRESIDENT 1.00 X 0 0 0 TABITHA STROBEL VICE PRESIDENT 1.00 X 0 0 0 CAROL KEPLER SECRETARY 1.00 X 0 0 0 AMY SMITH TREASURER 1.00 X 0 0 0 0 0 0 0 0 0 0 0 136073 136073 28752 28752 232742 225543 7199 7199 7199 DIVIDEND INCOME AND CA 523000 12300 12300 12300 184324 0 0 48251 60378 60378 6390 2130 2130 2130 720 720 RECEPTIONS 4755 4755 STATE REGISTRATION FEES 4009 4009 CREDIT CARD PROCESSING 3814 3814 ADVERTISING AND PROMOTI 759 759 206 69 69 68 81031 63336 10742 6953 6842 37839 14450 19829 927 458 708072 831812 730291 889938 0 986 0 986 X 730291 888952 730291 888952 730291 889938 103293 55368 0 X 1 X 0 0 0 X 93271 151604 181501 124511 136073 686960 93271 151604 181501 124511 136073 686960 8532 16194 19155 22967 24100 90948 0 8532 16194 19155 22967 24100 90948 596012 13647 15703 20750 27761 28752 106613 13647 15703 20750 27761 28752 106613 106918 167307 202251 152272 164825 793573 0.75100 0.77310 0.13430 0.12530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENTS OF PUBLICLY TRADED SECURITIES 831812 831812 ACCRUED EXPENSES 986 986 1 UNITED STATES NAVAL ACADEMY 121 BLAKE ROAD ANNAPOLIS MD 21402 33500 26878 PURCHASE PRICE DONATION OF 10 EUPHONIUMS TO SUPPORT THE MUSIC DEPARTMENT PART I, LINE 2: THIS ORGANIZATION EXISTS TO SUPPORT THE MUSIC DEPARTMENT OF THE UNITED STATES NAVAL ACADEMY (USNA), A GOVERNMENT ENTITY. CURRENTLY OUR POLICY IS TO RAISE FUNDS TO SUPPORT USNA MUSIC. OF THE FUNDS RAISED, TWO THIRDS ARE INVESTED IN STRATEGIC RESERVES TO BUILD A LONG-TERM ENDOWMENT AND TO BUILD A RESERVE FOR EMERGENCY USES IF OR WHEN THE NEED ARISES. ONE-THIRD OF FUNDS RAISED ARE DISTRIBUTED TO THE MUSIC DEPARTMENT ANNUALLY. FORM 990, PART VI, SECTION A, LINE 2 DON NELSON AND CAROL KEPLER ARE MARRIED. BARRY TALLEY IS THE FATHER OF SARAH GLASS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS THE ANNUAL FORM 990 OR 990-EZ BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THIS INFORMATION IS MADE AVAILABLE UPON REQUEST.