2024-11-13T08:39:56-06:00 2023-12-31 420714325 RSM US LLP 1001 WATER ST STE 500 TAMPA FL 33602 990 2023-01-01 311677884 NAVY LEAGUE FOUNDATION NAVY 7035281775 2300 WILSON BOULEVARD 200 ARLINGTON VA 22201 MICHAEL STEVENS CEO 7035281775 2024-11-11 1 1 KRISTEN BARNETT P01234578 8133162300 2024-11-11 2023 2024-10-15 13:58:12Z MICHAEL STEVENS 2300 WILSON BOULEVARD 200 ARLINGTON VA 22201 128830 0 X WWW.NAVYLEAGUE.ORG/PROGRAMS/SCHOLARSHIPS X 1997 DE THE MISSION OF THE NAVY LEAGUE FOUNDATION IS TO SUPPORT EDUCATIONAL, ADVOCACY, AND RELATED PROGRAMS THAT BENEFIT MEN AND WOMEN OF THE US SEA SERVICES AND THEIR FAMILIES. THE FOUNDATION IS RESPONSIBLE FOR THE MANAGEMENT OF THE NAVY LEAGUE FOUNDATION SCHOLARSHIP PROGRAM AND ALLOCATION OF OTHER FUNDS DONATED TO THE FOUNDATION FOR CHARITABLE OR EDUCATIONAL PURPOSES. 7 7 0 7 0 0 69182 34793 0 0 91224 78458 0 0 160406 113251 50000 50000 0 0 0 0 0 0 0 65648 65705 115648 115705 44758 -2454 3324754 3677507 12159 23585 3312595 3653922 X THE MISSION OF THE NAVY LEAGUE FOUNDATION IS TO SUPPORT EDUCATIONAL, ADVOCACY, AND RELATED PROGRAMS THAT BENEFIT THE MEN AND WOMEN OF THE US SEA SERVICES AND THEIR FAMILIES. THE FOUNDATION IS RESPONSIBLE FOR THE MANAGEMENT OF THE NAVY LEAGUE FOUNDATION SCHOLARSHIP PROGRAM AND ALLOCATION OF OTHER FUNDS DONATED TO THE FOUNDATION FOR CHARITABLE OR EDUCATIONAL PURPOSES. 0 0 53000 50000 SCHOLARSHIPS-PROVIDE COLLEGE SCHOLARSHIPS TO DEPENDENTS OR DESCENDENTS OF U.S. NAVY, U.S. MARINE CORPS, U.S. COAST GUARD AND U.S.-FLAGGED MERCHANT MARINE PERSONNEL. APPLICANTS MUST BE A GRADUATING HIGH SCHOOL SENIOR WHO WILL BE ENTERING THEIR FIRST YEAR OF AN ACCREDITED FOUR YEAR COLLEGE OR UNIVERSITY. 53000 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 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 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 VA X TANNEKA JONES SVP FINANCE 7033122880 2300 WILSON BOULEVARD 200 ARLINGTON VA 22201 DR JENNIFER LONDON CHAIR 1.00 1.00 X X 0 0 0 TOM PRUTER SECRETARY 1.00 1.00 X X 0 0 0 JOSEPH GIAMBRONE TREASURER 1.00 1.00 X X 0 0 0 LOUIS LIOTTI TRUSTEE 1.00 1.00 X 0 0 0 LYNN ATKINSON TRUSTEE 1.00 X 0 0 0 MATTHEW NOLTY TRUSTEE 1.00 X 0 0 0 WARD COOK TRUSTEE 1.00 1.00 X 0 0 0 MICHAEL STEVENS NLUS CEO 1.00 40.00 X 0 364490 28743 RYAN DONALDSON NLUS COO 1.00 40.00 X 0 217582 33057 0 582072 61800 0 0 1 0 0 34793 34793 94037 94037 15579 -15579 -15579 -15579 113251 0 0 78458 X 50000 50000 9345 9345 16769 16769 30000 3000 27000 2413 2413 SUBSCRIPTIONS 6498 6498 OTHER EXPENSES 530 530 BANK CHARGES 150 150 115705 53000 62705 0 65458 50155 35000 4423 2011 2238170 2176539 981703 1448802 3324754 3677507 6275 4750 5884 18835 12159 23585 X 761534 875742 2551061 2778180 3312595 3653922 3324754 3677507 -2454 343781 0 X X 1 X 0 1 0 X 98459 7907 70315 69182 34793 280656 98459 7907 70315 69182 34793 280656 111885 168771 62688 54816 70049 68631 94307 350491 631147 0.26740 0.27310 X NAVY LEAGUE FOUNDATION QUALIFIES AS A PUBLICLY SUPPORTED ORGANIZATION UNDER ALL OF THE FACTS AND CIRCUMSTANCES BECAUSE (A) IT NORMALLY RECEIVES A SUBSTANTIAL PART OF ITS SUPPORT FROM GOVERNMENT UNITS, FROM DIRECT OR INDIRECT CONTRIBUTIONS FROM THE GENERAL PUBLIC, OR FROM A COMBINATION OF THESE SOURCES, UNDER THE STANDARDS SET FORTH IN REG. 1.170A-9(F)(3)(I) AND (II); AND (B) IT IS IN THE NATURE OF A PUBLICLY SUPPORTED ORGANIZATION TAKING INTO ACCOUNT THE FACTORS SET FORTH IN REG. 1.170-A-9(F)(3)(III) THROUGH (VII).A. TEN PERCENT SUPPORT LIMITATION. NAVY LEAGUE FOUNDATION NORMALLY RECEIVES AT LEAST 10 PERCENT OF ITS TOTAL SUPPORT FROM PUBLIC SOURCES. AS SET FORTH IN SCHEDULE A, PART II, THE ORGANIZATION'S PUBLIC SUPPORT FOR TAXABLE YEARS 2022 WAS 27.31% AND 2023 WAS 26.74%.ATTRACTION OF PUBLIC SUPPORT. NAVY LEAGUE FOUNDATION MAINTAINS A CONTINUOUS AND BONA FIDE PROGRAM DESIGNED TO ATTRACT PUBLIC SUPPORT. EXAMPLES OF EFFORTS TO ATTRACT PUBLIC SUPPORT DURING THE FIVE-YEAR TESTING PERIOD INCLUDE THE FOLLOWING:THE FOUNDATION BOARD OF DIRECTORS CONTINUOUSLY DISCUSSES HOW TO RAISE ADDITIONAL FUNDS FOR THE ORGANIZATION. FOR 2024, THERE IS A REQUIREMENT THAT WAS IMPLEMENTED FOR EACH BOARD MEMBER TO OBTAIN CONTRIBUTIONS OF AT LEAST $25,000. THE NLF WEBSITE IT AVAILABLE TO THE PUBLIC AND THERE ARE SEVERAL PLACES WHERE THE DONATE BUTTON IS LOCATED FOR DONATIONS. IN 2023, THERE WAS AN END OF YEAR CAMPAIGN TO RAISE FUNDS. THERE ARE A NUMBER OF COLLEGE SCHOLARSHIPS THAT ARE PAID THROUGH THE FOUNDATION, SO THERE IS A CONTINUOUS PUSH TO RAISE ADDITIONAL FUNDS TO SUPPORT THE STUDENTS. ADDITIONALLY, THE MARKETING TEAM HAS INCREASED ITS EFFORTS TO GET THE ORGANIZATION'S NAME AND SCHOLARSHIP TYPES OUT TO THE PUBLIC. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2443777 3000 405470 181351 2670896 3112643 3000 -510950 160916 2443777 2941746 3000 354439 186542 3112643 2691119 5000 418788 173161 2941746 2361405 5000 476933 152219 2691119 0.00000 1.00000 0.00000 0 0 0 FIDELITY 500 INDEX FUND 534633 C ISHARES RUSSELL 2000 ETF 264134 C VANGUARD TTL BD MKT IDX-ADM 449637 C ISHARES CORE MSCI EMERGING 200398 C 1448802 DUE TO RELATED PARTY 18835 18835 X 456426 343781 16163 359944 96482 16769 16769 113251 115099 16163 16163 98936 16769 16769 115705 PART V, LINE 4: THE EARNINGS FROM THESE ENDOWMENTS ARE AVAILABLE IN SUPPORT OF THE SCHOLARSHIP PROGRAM OF THE FOUNDATION. THE FOUNDATION APPROPRIATES THE AMOUNT NECESSARY TO SUPPORT THE NAMED SCHOLARSHIPS EACH YEAR. PART X, LINE 2: THE FOUNDATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE FOUNDATION QUALIFIES FOR CHARITABLE CONTRIBUTIONS DEDUCTIONS AND HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE NOT TO BE A PRIVATE FOUNDATION. INCOME, WHICH IS NOT RELATED TO ITS EXEMPT PURPOSE, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. THE FOUNDATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEAR ENDED DECEMBER 31, 2023. MANAGEMENT EVALUATED THE FOUNDATION'S TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. 1 SCHOLARSHIPS 39 50000 PART I, LINE 2: DISBURSEMENTS ARE MADE DIRECTLY TO THE UNIVERSITY'S FINANCIAL AID OFFICE WHERE THE STUDENT ATTENDS. THE UNIVERSITY MONITORS THE USE OF THE FUNDS. NLF IS PROVIDED INFORMATION THAT THE STUDENT REMAINS IN SCHOOL AND IN GOOD STANDING. 0 0 0 0 0 0 0 0 0 MICHAEL STEVENS NLUS CEO 0 363258 0 0 0 1232 0 26040 0 2703 0 393233 0 0 RYAN DONALDSON NLUS COO 0 217432 0 0 0 150 0 12841 0 20216 0 250639 0 0 FORM 990, PART VI, SECTION A, LINE 7A BOTH THE NLUS PRESIDENT AND CHAIRPERSON OF THE NLF BOARD APPOINT MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE TOP MANAGEMENT OFFICIAL, TOP FINANCIAL OFFICIAL ALONG WITH MEMBERS OF THE FINANCIAL TEAM REVIEWED THE RETURN AFTER IT WAS PREPARED BY OUR TAX PREPARERS FROM THE BOOKS, RECORDS AND OTHER INFORMATION SUPPLIED BY THE ORGANIZATION. THE RETURN WAS THEN MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING THESE DOCUMENTS WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C WHEN THE BOARD OF THE FOUNDATION MEETS THE CHAIR REMINDS THE BOARD OF THE CONFLICT OF INTEREST POLICY AND ASKS THEM TO DISCLOSE ANY CONFLICTS OF INTEREST. THE FOUNDATION REQUIRES ALL BOARD MEMBERS, OFFICERS AND STAFF TO SIGN THE CONFLICT OF INTEREST POLICY, ACKNOWLEDGING THAT THEY HAVE READ AND UNDERSTOOD IT AND THAT THEY WILL INFORM THE FOUNDATION, IN WRITING OF ANY CONFLICTS UNDER THIS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT HAVE A SEPARATE CEO, EXECUTIVE DIRECTOR OR STAFF. THE NAVY LEAGUE CEO, COO AND FINANCE STAFF SERVE AS EMPLOYEES OF THE FOUNDATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATON'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE FOUNDATION AT: NAVY LEAGUE FOUNDATION, ATTN: EXECUTIVE DIRECTOR, 2300 WILSON BOULEVARD, SUITE 200. ARLINGTON, VA. 22201. THE FOUNDATION MAINTAINS A PUBLIC INSPECTION FILE. THE ORGANIZATIONS TAX RETURNS ARE AVAILABLE IN THE PUBLIC INSPECTION FILE, UPON REQUEST AND ON THE "GUIDESTAR" WEBSITE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 3,000. MANAGEMENT AND GENERAL EXPENSES 27,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 30,000. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSEEING THE REVIEW OF THE FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT THAT AUDITED THE FINANCIAL STATEMENTS HAS BEEN CONSISTENT WITH PRIOR YEARS. FORM 990, PART VI, LINE 15: NAVY LEAGUE FOUNDATION DOES NOT COMPENSATE ANYONE SHOWN IN PART VII OF THE FORM 990 OR SCHEDULE J, PART II. THE COMPENSATION SHOWN IN THESE SECTIONS IS PAID BY NAVY LEAGUE OF THE UNITED STATES, THE ORGANIZATION'S RELATED ORGANIZATION. NAVY LEAGUE FOUNDATION RELIES ON THE COMPENSATION DETERMINATION METHODOLOGY OF NAVY LEAGUE OF THE UNITED STATES. THE FOLLOWING IS THE COMPENSATION METHODOLOGY USED BY NAVY LEAGUE OF THE UNITED STATES: THE NLUS EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED AND REVIEWED BY THE NATIONAL PRESIDENT IN CONSULTATION WITH THE COMPENSATION COMMITTEE OF THE LEAGUE. THE COMMITTEE MAY CONSULT WITH INDEPENDENT PERSONS IN DETERMINING THE PAY PACKAGE OFFERED TO THE EXECUTIVE DIRECTOR. A WRITTEN EMPLOYMENT AGREEMENT IS EXECUTED. THE NLUS STAFF'S COMPENSATION IS DETERMINED AND REVIEWED BY THE EXECUTIVE DIRECTOR [ED]. THE ED MAY CONSULT WITH THE NATIONAL PRESIDENT AND THE COMPENSATION COMMITTEE ON PAY RANGES AND FRINGE BENEFITS OFFERED TO THE EMPLOYEES OF THE LEAGUE. ALL STAFF HAVE WRITTEN EMPLOYMENT AGREEMENTS. NAVY LEAGUE OF THE UNITED STATES 2300 WILSON BLVD STE 200 ARLINGTON VA 22201 530116710 SUPPORT OF SEA SERVICES NY 501(C)(3) 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0