Foundation

Question 1

How does philanthropy work at the Naval Academy?

Answer 1

Government appropriated dollars (through the annual Congressional appropriations process) fund most (95%) of the Naval Academy operations and anything that is a requirement for graduation (e.g. facilities maintenance, staff, active-duty professors, feeding and caring for Midshipmen, military training, etc.). The USNA Foundation raises money for the Margin of Excellence which we consider about 5%.

Question 2

Who manages our Foundation investments?

Answer 2

T.I.F.F. The Investment Fund for Foundations

Question 3

How do we explain our endowment?

Answer 3

Our endowment is approx. $350 million AUM (assets under management). It includes long term restricted funds that operate similarly to an endowment as well as traditional endowment funds

Question 4

FY 24 Needs

Answer 4

$2.2M Campaign Fund
$4.2 AE Fund
$9.2M NAF
$75 M new gifts & commitments

Question 5

How much did the Foundation give to USNA in 2023?

Answer 5

$23.1 M to USNA and $8M to NAAA = $31.1 M support to USNA