Nonprofit · EIN 52-0643040
UNITED STATES NAVAL INSTITUTE
Tax-exempt · ANNAPOLIS, MD 21402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $10,963,609 | $10,714,748 | $248,861 | $7,770,195 | $4,357,320 | $3,412,875 |
| December 31, 2023 | 990 | $9,064,791 | $10,563,594 | -$1,498,803 | $6,986,699 | $3,814,539 | $3,172,160 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,332,311
- Program service revenue
- $4,086,647
- Investment income
- $40,287
- Royalties
- $109,131
- Net income from sales of inventory
- $3,395,233
- Other revenue
- $3,504,364
Expenses
- Grants and similar amounts paid
- $3,250
- Compensation of officers, directors and key employees
- $489,820
- Other salaries and wages
- $4,893,484
- Salaries, compensation and benefits (total)
- $6,245,958
- Professional fundraising fees
- $0
- Legal fees
- $230,399
- Accounting fees
- $189,223
- Occupancy
- $431,788
- Travel
- $159,598
- Depreciation
- $310,789
- Program services (functional)
- $6,502,638
- Management and general (functional)
- $4,212,110
Balance sheet and other
- Total assets, start of year
- $6,986,699
- Total assets, end of year
- $7,770,195
- Total liabilities, end of year
- $4,357,320
- Net assets, end of year
- $3,412,875
- Land, buildings and equipment
- $1,801,331
- Net assets without donor restrictions
- $3,412,875
- Gross unrelated business income
- $346,096
- Gross receipts
- $12,776,896
- Employees
- 75
- Volunteers
- 25
- Year formed
- 1942
- State of legal domicile
- MD
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RADM RAYMOND SPICER USN | CEO, PUBLISHER, DIR Trustee or director, Officer | 30 | $362,246 | $25,400 |
| DOUGLAS WALLEN | CFO, TREASURER Officer | 32 | $213,623 | $35,235 |
| WILLIAM HAMBLET | EVP PERIODIC, MEMBERS, MAR Highest-paid employee | 40 | $214,330 | $9,670 |
| HEATHER LANCASTER | EVP DEVELOPMENT Highest-paid employee | 5 | $211,267 | $10,395 |
| APRIL PARRECO | EVP CONFERENCES & EVENTS Highest-paid employee | 40 | $194,897 | $23,142 |
| ADAM KANE | DIRECTOR, NAVAL INSTITUTE Highest-paid employee | 40 | $171,386 | $22,015 |
| VADM PETER H DALY USN RET | FORMER CEO, CONSULTANT Highest-paid employee | 6 | $165,239 | $94 |
| ROBERT O WORK | CHAIR, DIR (THRU 5/24) Trustee or director, Officer | 2 | $0 | $0 |
| HARRY HARRIS | CHAIR, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 |
| JONATHAN W GREENERT | VICE CHAIR, DIR (THRU 5/24) Trustee or director, Officer | 2 | $0 | $0 |
| ELLEN LORD | VICE CHAIR, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 |
| CHARLES BOLDEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CALVIN CASS JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DEVERE CROOKS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRISTINE FOX | DIRECTOR Trustee or director | 1 | $0 | $0 |
14 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| THOMAS FURLONG | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM HANNIGAN | DIRECTOR Trustee or director | 1 | $0 |
| MEL IMMERGUT | DIRECTOR Trustee or director | 1 | $0 |
| FRED M MIDGETTE | DIRECTOR Trustee or director | 1 | $0 |
| C MICHAEL PETTERS | DIRECTOR Trustee or director | 1 | $0 |
| LORI E REYNOLDS | DIRECTOR Trustee or director | 1 | $0 |
| CHARLES A RICHARD | DIRECTOR Trustee or director | 1 | $0 |
| MICHAEL S ROGERS | DIRECTOR Trustee or director | 1 | $0 |
| RUSSELL L SMITH | DIRECTOR Trustee or director | 1 | $0 |
| SCOTT SWIFT | DIRECTOR Trustee or director | 1 | $0 |
| ROBERT S WALSH | DIRECTOR Trustee or director | 1 | $0 |
| THAD W ALLEN | DIRECTOR (THRU 5/24) Trustee or director | 1 | $0 |
| THOMAS E CLARITY | DIRECTOR (THRU 6/24) Trustee or director | 1 | $0 |
| MARGARET D KLEIN | DIRECTOR (THRU 5/24) Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| VADM PETER H DALY USN RET | CEO, PUBLISHER, DIR THRU NOV 2023 Trustee or director, Officer | 30 | $499,136 | $10,191 |
| DOUGLAS WALLEN | CFO Officer | 32 | $200,793 | $33,398 |
| APRIL PARRECO | EVP CONFERENCES & EVENTS Highest-paid employee | 40 | $185,595 | $21,291 |
| WILLIAM HAMBLET | EVP PERIODIC, MEMBERS, MARKETING Highest-paid employee | 40 | $196,665 | $8,120 |
| HEATHER LANCASTER | EVP DEVELOPMENT Highest-paid employee | 5 | $179,248 | $7,135 |
| ADAM KANE | DIRECTOR, NAVAL INSTITUTE PRESS Highest-paid employee | 40 | $158,911 | $20,359 |
| KERRI MASSARO | CONTROLLER Highest-paid employee | 40 | $156,314 | $21,262 |
| RADM RAYMOND SPICER USN | CEO, PUBLISHER, DIR BEG DEC 2023 Trustee or director, Officer | 30 | $88,723 | $4,380 |
| ROBERT O WORK | CHAIR, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 |
| JONATHAN W GREENERT | VICE CHAIR, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 |
| THAD W ALLEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARGARET D KLEIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ROBERT S WALSH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL S ROGERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRISTINE FOX | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHARLES BOLDEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS FURLONG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM MORAN | DIRECTOR (THRU 9/2023) Trustee or director | 1 | $0 | $0 |
| SCOTT SWIFT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MEL IMMERGUT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HARRY HARRIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ELLEN LORD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM HANNIGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CALVIN CASS JR | DIRECTOR (BEG 9/2023) Trustee or director | 1 | $0 | $0 |
| THOMAS E CLARITY | DIRECTOR (BEG 9/2023) Trustee or director | 1 | $0 | $0 |
| TROY THOMPSON JR | DIRECTOR (THRU 8/2023) Trustee or director | 1 | $0 | $0 |
| MICHELLE FOSTER | DIRECTOR (THRU 8/2023) Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 291 WOOD ROAD, ANNAPOLIS, MD 21402-1213
- Principal officer (990 for 2024)
- RAYMOND SPICER, 291 WOOD ROAD, ANNAPOLIS, MD 214025034
- Signed the 990
- DOUGLAS WALLEN, CHIEF FINANCIAL OFFICER
- Phone
- (410) 268-6110
- Website
- WWW.USNI.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
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.
Program accomplishments
- PUBLISHING COSTS:INCLUDES COSTS OF PRODUCING PROCEEDINGS WHICH IS AN INDEPENDENT, OPEN FORUM FOR ARTICLES FROM NAVAL PROFESSIONALS AND CIVILIAN CONTRIBUTORS FEATURING CURRENT PROFESSIONAL TOPICS AND ISSUES. ALSO, NAVAL HISTORY MAGAZINE SHOWCASES HISTORICAL TOPICS WITH FOCUS ON THE SEA SERVICES. ADDITIONALLY, THE NAVAL INSTITUTE PRESS, WHICH IS THE BOOK-PUBLISHING ARM OF THE NAVAL INSTITUTE PUBLISHES ABOUT SEVENTY TITLES EACH YEAR, RANGING FROM BOOKS ON NAVIGATION TO BATTLE HISTORIES, UNITED STATES NAVAL ACADEMY TEXTBOOKS AND REFERENCE BOOKS, BIOGRAPHIES, SHIP AND AIRCRAFT GUIDES, AND NOVELS.Expenses $4,729,359 · grants $3,250 · revenue $4,760,546
- CONFERENCE EXPENSES:THE INSTITUTE PROVIDES FOR VARIOUS SEMINARS AND MEETINGS THROUGHOUT ITS FISCAL YEAR ON CURRENT AND HISTORICAL TOPICS. THESE MEETINGS OFFER A CONCENTRATED OPPORTUNITY FOR THE EXCHANGE OF IDEAS AND DISCUSSION OF KEY NAVAL ISSUES AMONG NAVAL PROFESSIONALS ANDOTHERS.Expenses $1,039,049 · revenue $2,375,238
- SPECIAL PROJECTS:REPRESENT VARIOUS PROJECTS UNDERTAKEN TO ADVANCE THE PROFESSIONAL, LITERARY, AND SCIENTIFIC UNDERSTANDING OF SEA POWER AND OTHER ISSUES CRITICAL TO GLOBAL SECURITY.Expenses $240,930
- ROYALTIES: REPRESENT AGREED-UPON PAYMENTS MADE BY THE INSTITUTE TO VARIOUS AUTHORS FOR THEIR RESPECTIVE BOOKS. THE AMOUNT OF THE ROYALTY IS BASED UPON THE ACTUAL SALES OF THE RESPECTIVE BOOKS AND ANY SALES OF SUBSIDIARY RIGHTS.Expenses $493,300
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 52-0643040
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1942
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $7,770,195
- Income (IRS master file)
- $12,776,896
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $10,963,609 | $10,714,748 | $7,770,195 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $9,064,791 | $10,563,594 | $6,986,699 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $10,573,853 | $10,507,303 | $37,452,353 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 52-0643040).
Questions about UNITED STATES NAVAL INSTITUTE
- What is the EIN of UNITED STATES NAVAL INSTITUTE?
- The employer identification number (EIN) of UNITED STATES NAVAL INSTITUTE is 52-0643040.
- Is UNITED STATES NAVAL INSTITUTE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1942.
- Are donations to UNITED STATES NAVAL INSTITUTE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does UNITED STATES NAVAL INSTITUTE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of UNITED STATES NAVAL INSTITUTE due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did UNITED STATES NAVAL INSTITUTE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of UNITED STATES NAVAL INSTITUTE?
- The 990 for the year ended December 31, 2024 names RAYMOND SPICER.
- Who are the officers and directors of UNITED STATES NAVAL INSTITUTE?
- The 990 for the year ended December 31, 2024 lists 29 people; 7 received compensation from the organization, the highest $362,246 (RADM RAYMOND SPICER USN, CEO, PUBLISHER, DIR).
- How much revenue does UNITED STATES NAVAL INSTITUTE have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $10,963,609, expenses of $10,714,748 and total assets of $7,770,195 at year end.
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