Naval Academy Athletic Association: Nonprofit Profile, Financials & Form 990 (EIN 81-6529931)

Revenue by fiscal year
FY2020	$218K
FY2021	$228K
FY2022	$257K
FY2023	$260K
FY2024	$386K

Expenses by fiscal year
FY2020	$125K
FY2021	$131K
FY2022	$126K
FY2023	$132K
FY2024	$138K

Net assets by fiscal year
FY2020	$3.6M
FY2021	$3.9M
FY2022	$3.2M
FY2023	$3.5M
FY2024	$3.8M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2016.

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

Who runs it and what they're paid

3 people listed on the 990; $8K paid to officers and key staff.

Part VII, Section A · reportable compensation

Comerica Bank & Trust NA

Trustee

$8,250Pt VII · Sec A

Chet Gladchuk

Naaa President

$0Pt VII · Sec A

M Colleen Jordan

Naaa CFO/Treasurer

$0Pt VII · Sec A

Comerica Bank & Trust NA’s $8K as Trustee is at the 45th percentile of top reported officer pay among 539 $100K–1M mutual/membership nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Comerica Bank & Trust NA	$8,250	$8,250	$11,000	$11,000	$11,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Offers group health benefits to eligible Naval Academy Athletic Association retirees.

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Provided by the organization

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1 program · in their own filed words · FY2024

01

To provide group health benefits and medicare part-d coverage for eligible retirees of the naval academy athletic association.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$386K

Ln 12

Investment incomeLn 3$386K

Fees for servicesLn 2g$69

Money outPt IX

$138K

Ln 25

Owns and owesPt X

$3.8M

net assets · Ln 32

Cash and savingsLn 1–2$84K

Total assetsLn 16$3.8M

LiabilitiesLn 26$0

PeoplePt VI, VII

3

listed · VII A

PaidVII A1

Voting boardVI 1a3

IndependentVI 1b0

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$69

Investment incomeLn 3$386K

Gains on assetsLn 7$223K

Total revenueLn 12$386K

Assets in detailPt X, end of year

SavingsLn 2$84K

Cash and savings togetherLn 1–2$84K

InvestmentsLn 11–13$3.7M

Total assetsLn 16$3.8M

LiabilitiesLn 26$0

Net assetsLn 32$3.8M

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$4K	$84K
InvestmentsLn 11–13	$3.5M	$3.7M
Total assetsLn 16	$3.5M	$3.8M
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$3.5M	$3.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Benefits paid to or for membersLn 4	$105K
Management feesLn 11a	$8K
Investment management feesLn 11f	$24K
Total functional expensesLn 25	$138K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$386K	$138K	$248K	$3.8M	990 PDF
FY2023	$260K	$132K	$128K	$3.5M	990 PDF
FY2022	$257K	$126K	$131K	$3.2M	990 PDF
FY2021	$228K	$131K	$98K	$3.9M	990 PDF
FY2020	$218K	$125K	$93K	$3.6M	990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

See the full FY2024 990 (6 parts)

Part I · Summary $385,774 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$69

I-10 Investment incomePrior year $260,208$385,705

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $260,208$385,774

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $96,614$105,127

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $35,501$32,432

I-18 Total expensesPrior year $132,115$137,559

I-19 Revenue less expensesPrior year $128,093$248,215

Part VI · Governance 0 of 3 board members independent, 4 to look at

VI-1a Voting members of the governing body3

VI-1b Independent voting members0

VI-12a Written conflict of interest policyNo

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

Part VIII · Statement of revenue $385,774 across 4 lines filed

Lines not itemized here account for $159,613 of total revenue; see the IRS return.

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $69$69

VIII-3 Investment incomeExcluded from tax $2,752$2,752

VIII-7 Net gain or loss on sales of assetsExcluded from tax $223,340$223,340

VIII-12 Total revenueRelated to mission $69 · Unrelated business $0 · Excluded from tax $385,705$385,774

Part IX · Statement of functional expenses $137,559 across 3 lines filed

IX-4 Benefits paid to or for members$105,127

IX-11a Management fees$8,250

IX-11f Investment management fees$24,182

IX-25 Total functional expenses$137,559

Part X · Balance sheet $3,818,633 assets, 7 lines filed

X-2 Savings and temporary cash investmentsStart of year $4,248$83,674

X-4 Accounts receivableStart of year $3,342$3,507

X-11 Publicly traded securitiesStart of year $3,499,494$3,731,452

X-16 Total assetsStart of year $3,507,084$3,818,633

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $3,507,084$3,818,633

X-33 Total liabilities and net assetsStart of year $3,507,084$3,818,633

Part XI · Reconciliation of net assets $3,818,633 net assets at year end

XI-1 Total revenue$385,774

XI-2 Total expenses$137,559

XI-3 Revenue less expenses$248,215

XI-4 Net assets at start of year$3,507,084

XI-5 Net unrealized gains (losses) on investments$63,334

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$3,818,633

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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