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United States Merchant Marine Academy Alumni Association and FOU

Public charity
DBA: % JAMES F TOBIN
Other · KINGS POINT, NY · EIN 11-6037948

About

The foundation shall exist to serve, assist and perpetuate the academy, its regiment of midshipmen, faculty, staff, and alumni. The foundation supports the academy's mission of educating and graduating merchant marine officers who will become leaders in the commercial and defense transportation services of the united states. The foundation provides financial support for charitable, scientific and educational purposes by raising and distributing funds, some of which will be maintained in an endowment. The foundation also fosters and encourages the development of the academy to meet the future transportation needs of the united states, and enhances the prestige thereof by acquisition, preservation, and dissemination of information pertaining to their history, activities, methods and objectives.

In care of James F Tobin

Donations are tax-deductible
Category
Other
Employees
13
Volunteers
18

Financial Snapshot

FY ending 2022-12-31
Revenue
$6.7M
Expenses
$4.5M
Assets
$54.0M
Liabilities
$427K

Financial history

$12.1M$6.0M$0
16171819202122
RevenueExpenses
Latest FY2022: $6.7M · Peak FY2017: $12.1M · Avg: $8.0M

501(h) election

This 501(c)(3) has NOT elected 501(h) — lobbying is permitted but limited under the vaguer "no substantial part of activities" test.

Political & Grant Activity

Campaign Spending
Lobbying
$166K
Grants Given
$1.0M
UNITED STATES MERCHANT MARINE ACADEMY ALUMNI ASSOCIATION AND FOU
Your actions

Address

8 Elmridge RD
Kings Point, NY, 11024-130

Governance

Voting board members19
Independent members18
Conflict-of-interest policyYes
Whistleblower policyYes
Doc-retention policyYes
Audit committeeYes
990 reviewed by boardYes

Compensation practices

Severance paymentsNo
Equity-based compNo
Supplemental retirement planNo
Compensation committeeYes
Used comp surveyYes
Board approved compYes
Initial contract exceptionNo

Financial detail (Schedule D)

Permanent endowment %94.0%
Endowment held by related orgNo
Public records
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