Nonprofit · EIN 52-1814344
THE NAVAL INSTITUTE FOUNDATION INCORPORATED
Tax-exempt · ANNAPOLIS, MD 21402
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $14,444,826 | $5,429,686 | $9,015,140 | $24,511,866 | $0 | $24,511,866 |
| December 31, 2024 | 990 | $6,120,881 | $4,801,914 | $1,318,967 | $14,727,671 | $84,891 | $14,642,780 |
| December 31, 2023 | 990 | $9,412,802 | $5,200,662 | $4,212,140 | $11,834,384 | $158,402 | $11,675,982 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $14,142,143
- Program service revenue
- $0
- Investment income
- $302,683
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $3,984,117
- Compensation of officers, directors and key employees
- $457,284
- Other salaries and wages
- $452,149
- Salaries, compensation and benefits (total)
- $997,955
- Professional fundraising fees
- $0
- Legal fees
- $39,878
- Accounting fees
- $12,973
- Occupancy
- $9,477
- Travel
- $27,464
- Depreciation
- $27,655
- Program services (functional)
- $3,984,117
- Management and general (functional)
- $275,604
- Fundraising (functional)
- $1,169,965
Balance sheet and other
- Total assets, start of year
- $14,727,671
- Total assets, end of year
- $24,511,866
- Total liabilities, end of year
- $0
- Net assets, end of year
- $24,511,866
- Publicly traded securities
- $19,954,689
- Net assets without donor restrictions
- $16,416,913
- Net assets with donor restrictions
- $8,094,953
- Gross receipts
- $14,444,826
- Employees
- 0
- Volunteers
- 12
- Year formed
- 1992
- 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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RADM RAYMOND A SPICER USN RET | CEO, DIRECTOR Trustee or director, Officer | 10 | $0 | $452,231 | $22,821 |
| DOUGLAS WALLEN | TREASURER Officer | 8 | $0 | $216,831 | $37,289 |
| MEG MACKIN | ACTING COO (AS OF 6/25) Trustee or director, Officer | 35 | $0 | $162,206 | $26,904 |
| HEATHER LANCASTER | COO (THRU 6/25), SECRETARY, DIR. Trustee or director, Officer | 35 | $0 | $117,830 | $21,517 |
| GEN PETER PACE USMC RET | CHAIRMAN, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 | $0 |
| MICHAEL M WISEMAN ESQ | VICE-CHAIRMAN, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| MARTIN J BOLLINGER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CDR GREGORY E GLAROS USN RET | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MEL IMMERGUT | DIRECTOR - BOARD LIAISON Trustee or director | 1 | $0 | $0 | $0 |
| JANE CLAYTON JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN MAJORAS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DIRK P MOSIS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| RADM KENDELL PEASE USN RET | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL J SALVATO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MR STEPHEN M WATERS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2024: 16 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| RADM RAYMOND A SPICER USN RET | CEO, DIRECTOR Trustee or director, Officer | 10 | $0 | $362,246 | $25,400 |
| DOUGLAS WALLEN | TREASURER Officer | 8 | $0 | $213,623 | $35,235 |
| HEATHER LANCASTER | COO, SECRETARY, DIRECTOR Trustee or director, Officer | 35 | $0 | $211,267 | $10,395 |
| VADM PETER H DALY USN RET | FORMER CEO, CONSULTANT Former | 2 | $0 | $165,239 | $94 |
| GEN PETER PACE USMC RET | CHAIRMAN, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 | $0 |
| MICHAEL M WISEMAN ESQ | VICE-CHAIRMAN, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RADM KENDELL PEASE USN RET | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MR STEPHEN M WATERS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CDR GREGORY E GLAROS USN RET | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ADM JONATHAN GREENERT USN RET | DIR. - BOARD LIAISON (THRU MAY) Trustee or director | 1 | $0 | $0 | $0 |
| MEL IMMERGUT | DIRECTOR - BOARD LIASON Trustee or director | 1 | $0 | $0 | $0 |
| MARTIN J BOLLINGER | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JANE CLAYTON JOHNSON | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DIRK P MOSIS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL J SALVATO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOHN MAJORAS | DIRECTOR (AS OF NOV) Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| VADM PETER H DALY USN RET | CEO, DIRECTOR (THROUGH NOV 2023) Trustee or director, Officer | 10 | $0 | $499,136 | $10,191 |
| DOUGLAS WALLEN | TREASURER Officer | 8 | $0 | $200,793 | $33,398 |
| HEATHER LANCASTER | COO, SECRETARY, DIRECTOR Trustee or director, Officer | 35 | $0 | $179,248 | $7,135 |
| RADM RAYMOND A SPICER USN RET | CEO, DIRECTOR (BEG DEC 2023) Trustee or director, Officer | 10 | $0 | $88,723 | $4,380 |
| GEN PETER PACE USMC RET | CHAIRMAN, DIRECTOR Trustee or director, Officer | 2 | $0 | $0 | $0 |
| MICHAEL M WISEMAN ESQ | VICE-CHAIRMAN, DIRECTOR Trustee or director, Officer | 1 | $0 | $0 | $0 |
| RADM KENDELL PEASE USN RET | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MR STEPHEN M WATERS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CDR GREGORY E GLAROS USN RET | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ADM JONATHAN GREENERT USN RET | DIRECTOR - BOARD LIAISON Trustee or director | 1 | $0 | $0 | $0 |
| MARTI TOMSON RODAMAKER | DIRECTOR (THROUGH NOV 2023) Trustee or director | 1 | $0 | $0 | $0 |
| MARTIN J BOLLINGER | DIRECTOR (BEG NOV 2023) Trustee or director | 1 | $0 | $0 | $0 |
| JANE CLAYTON JOHNSON | DIRECTOR (BEG NOV 2023) Trustee or director | 1 | $0 | $0 | $0 |
| DIRK P MOSIS | DIRECTOR (BEG NOV 2023) Trustee or director | 1 | $0 | $0 | $0 |
| MICHAEL J SALVATO | DIRECTOR (BEG NOV 2023) Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 291 WOOD ROAD, ANNAPOLIS, MD 21402-5034
- In care of
- % JAMES L ADAMS
- Principal officer (990 for 2025)
- RAYMOND A SPICER, 291 WOOD ROAD, ANNAPOLIS, MD 214025034
- Signed the 990
- RAYMOND A SPICER, CHIEF EXECUTIVE OFFICER
- Phone
- (410) 268-6110
- Website
- WWW.USNI.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
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.
Program accomplishments
- 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: TO ADVANCE THE PROFESSIONAL, LITERARY, AND SCIENTIFIC UNDERSTANDING OF SEA POWER AND THE CRITICAL ISSUES SHAPING GLOBAL SECURITY. VISION: TO BE THE CENTER FOR DEBATE AND THOUGHT LEADERSHIP ON THE FUTURE OF SEA POWER, MARITIME SECURITY, AND NATIONAL DEFENSE.Expenses $3,984,117 · grants $3,984,117
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 | 990 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
- 52-1814344
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Supporting organization (509(a)(3))
- Donations deductible (Pub 78)
- Supporting organization of unknown type
- Exempt since
- 1993
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $24,511,866
- Income (IRS master file)
- $14,444,826
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $14,444,826 | $5,429,686 | $24,511,866 | IRS |
| 990 | December 2024 | $6,120,881 | $4,801,914 | $14,727,671 | IRS |
| 990 | December 2023 | $9,412,802 | $5,200,662 | $11,834,384 | XML |
| 990 | December 2022 | $5,073,698 | $5,558,232 | $13,167,023 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | 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 52-1814344).
Questions about THE NAVAL INSTITUTE FOUNDATION INCORPORATED
- What is the EIN of THE NAVAL INSTITUTE FOUNDATION INCORPORATED?
- The employer identification number (EIN) of THE NAVAL INSTITUTE FOUNDATION INCORPORATED is 52-1814344.
- Is THE NAVAL INSTITUTE FOUNDATION INCORPORATED tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to THE NAVAL INSTITUTE FOUNDATION INCORPORATED tax-deductible?
- Yes. It is listed in IRS Publication 78 (Supporting organization of unknown type).
- Which annual return does THE NAVAL INSTITUTE FOUNDATION INCORPORATED 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 THE NAVAL INSTITUTE FOUNDATION INCORPORATED due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE NAVAL INSTITUTE FOUNDATION INCORPORATED last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of THE NAVAL INSTITUTE FOUNDATION INCORPORATED?
- The 990 for the year ended December 31, 2025 names RAYMOND A SPICER.
- Who are the officers and directors of THE NAVAL INSTITUTE FOUNDATION INCORPORATED?
- The 990 for the year ended December 31, 2025 lists 15 people; 0 received compensation from the organization.
- How much revenue does THE NAVAL INSTITUTE FOUNDATION INCORPORATED have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $14,444,826, expenses of $5,429,686 and total assets of $24,511,866 at year end.
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