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Midshipmans Foundation FY2020 filing

Tax-deductible

Austin, TX501(c)(3) EIN 23-7100496Revenue $148K in FY2020Latest return filed Mar 26, 2026

On file with the IRSutnrotcalum.orgAustin, TXTax-exempt since Mar 1971Publicly supported — 509(a)(2)

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Provide financial aid and meritorious sword awards to Midshipmen and Officer Candidates at the NROTC Unit University of Texas at Austin

Form 990 Part I, line 1, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 23-7100496) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $131K a year · 46% of revenue · last 6 filings
A surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
88% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
9.1 mo
of spending, in cash
Plus $2.4M in investments, Pt X · Ln 11–13
9.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $18K
2 funders name it on their filings.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Liabilities are 0% of assets.
Pt X · Ln 26
Independent board members
9
of 9 voting members
9 of 9 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$148K
Spent
$132K
To programs
88%
Net assets
$2.5M
By yearFY2020–FY2025
Revenue
$148K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$148K
FY2021$330K
FY2022$281K
FY2023$217K
FY2024$354K
FY2025$355K
Expenses
$132K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$132K
FY2021$151K
FY2022$123K
FY2023$139K
FY2024$176K
FY2025$181K
Net assets
$2.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.5M
FY2021$2.9M
FY2022$2.6M
FY2023$3.0M
FY2024$3.2M
FY2025$3.7M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

Give Follow Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $116K Management & general 12% · $16K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
Max K Miller
Chairman of the Board
$0Pt VII · Sec A
Gabriel R Salazar
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert L Collins
Vicepresident
$0Pt VII · Sec A
David M Wells
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Midshipmans Foundation executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Awards deserving Midshipmen and Officer Candidates with financial aid and swords.

Questions for Midshipmans Foundation

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2 programs · $116K · in their own filed words · FY2020
01

Cash scholarships awarded.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 23-7100496) · Dispute this line
$114Kprogram expense
02

Meritorious sword awards

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 23-7100496) · Dispute this line
$2Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Donor Advised Charitable Giving INCFY2024$14K
Alice Taylor Gray Foundation Acct #g02992FY2024$4K
Total grants receivedfrom 2 funders$18K
Grants paid · 10 grants · $588K · 2020–2025
Unitemized GrantFY2025$115,000
Unitemized GrantFY2025$12,000
Unitemized GrantFY2025$12,000
Unitemized GrantFY2024$117,000
Unitemized GrantFY2024$12,000
Unitemized GrantFY2024$6,000
Unitemized GrantFY2022$86,000
Unitemized GrantFY2022$7,500
Unitemized GrantFY2021$107,500
Unitemized GrantFY2020$113,500

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$148K
Ln 12
Investment incomeLn 3$77K
Gifts and grantsLn 1h$72K
Money outPt IX
$132K
Ln 25
Programscol B$116K
Managementcol C$16K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$100K
Total assetsLn 16$2.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$72K
Investment incomeLn 3$77K
Total revenueLn 12$148K
Assets in detailPt X, end of year
CashLn 1$100K
Cash and savings togetherLn 1–2$100K
InvestmentsLn 11–13$2.4M
Total assetsLn 16$2.5M
LiabilitiesLn 26$0
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$148K$100K
InvestmentsLn 11–13$2.2M$2.4M
Total assetsLn 16$2.3M$2.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.3M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$116K$116K
Investment management feesLn 11f$15K$15K
Conferences, conventions and meetingsLn 19$337$337
InsuranceLn 23$803$803
Total functional expensesLn 25$132K$116K$16K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Mar 26, 2026 $355K$181K$173K$3.7M 990 PDF
FY2024Filed with the IRS May 5, 2025 $354K$176K$178K$3.2M 990 PDF
FY2023Filed with the IRS Apr 12, 2024 $217K$139K$78K$3.0M 990 PDF
FY2022Filed with the IRS May 2, 2023 $281K$123K$159K$2.6M 990 PDF
FY2021Filed with the IRS May 16, 2022 $330K$151K$179K$2.9M 990 PDF
FY2020 ViewingFiled with the IRS May 16, 2021 $148K$132K$17K$2.5M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2020 990
Part I · Summary $148,415 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $155,900$71,773
I-9 Program service revenue$0
I-10 Investment incomePrior year $77,459$76,642
I-11 Other revenue$0
I-12 Total revenuePrior year $233,359$148,415
I-13 Grants and similar amounts paidPrior year $97,338$115,887
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $40,764$15,786
I-18 Total expensesPrior year $138,102$131,673
I-19 Revenue less expensesPrior year $95,257$16,742
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $148,415 across 5 lines filed
VIII-1f All other contributions, gifts and grants$71,773
VIII-1h Total contributions, gifts and grants$71,773
VIII-3 Investment incomeRelated to mission $76,642$76,642
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $76,642$148,415
Part IX · Statement of functional expenses $131,673 across 4 lines filed
IX-2 Grants to domestic individualsPrograms $115,887$115,887
IX-11f Investment management feesManagement $14,646$14,646
IX-19 Conferences, conventions and meetingsManagement $337$337
IX-23 InsuranceManagement $803$803
IX-25 Total functional expensesPrograms $115,887 · Management $15,786 · Fundraising $0$131,673
Part X · Balance sheet $2,469,397 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $148,324$99,794
X-11 Publicly traded securitiesStart of year $2,152,670$2,369,603
X-16 Total assetsStart of year $2,300,994$2,469,397
X-26 Total liabilitiesStart of year $0$0
X-31 Retained earnings or endowmentStart of year $2,300,994$2,469,397
X-32 Total net assets or fund balancesStart of year $2,300,994$2,469,397
X-33 Total liabilities and net assetsStart of year $2,300,994$2,469,397
Part XI · Reconciliation of net assets $2,469,397 net assets at year end
XI-1 Total revenue$148,415
XI-2 Total expenses$131,673
XI-3 Revenue less expenses$16,742
XI-4 Net assets at start of year$2,300,994
XI-5 Net unrealized gains (losses) on investments$151,661
XI-10 Net assets at end of year$2,469,397

Form 990 e-file FY2020 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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