NAVAL WAR COLLEGE FOUNDATION INC

EIN: 237063084 501(c)(3) Education

NEWPORT, RI

Total Revenue
$18,087,303
Total Expenses
$4,840,693
Total Assets
$66,658,457
Net Assets
$65,820,158
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
RI
Principal Officer
GEORGE E LANG JR USN
Phone
4018488300
Tax Period
2023-01-01 to 2023-12-31

NAVAL WAR COLLEGE FOUNDATION INC, founded in 1969, is a mid-sized nonprofit in the Education sector that reported $18.1M in total revenue in fiscal year 2023. Revenue surged 321% from the prior year, signaling strong growth momentum. The organization ran a surplus of $13.2M, a strong 73% operating margin.

Mission

HELP THE NAVAL WAR COLLEGE TO: A. DEVELOP STRATEGIC AND OPERATIONAL LEADERS: PROVIDE PROFESSIONAL MILITARY EDUCATION PROGRAMS THAT ARE CURRENT, RIGOROUS, RELEVANT, AND ACCESSIBLE TO THE MAXIMUM NUMBER OF QUALIFIED U.S. OFFICERS AND NAVY ENLISTED PERSONNEL, CIVILIAN EMPLOYEES OF THE U.S. GOVERNMENT AND NON-GOVERNMENTAL ORGANIZATIONS, AND INTERNATIONAL OFFICERS. B. HELP THE CHIEF OF NAVAL OPERATIONS DEFINE THE FUTURE NAVY AND ITS ROLES AND MISSIONS: CONDUCT RESEARCH, ANALYSIS, AND GAMING TO SUPPORT THE REQUIREMENTS OF THE SECRETARY OF THE NAVY, THE CHIEF OF NAVAL OPERATIONS, THE COMBATANT COMMANDERS, THE NAVY COMPONENT COMMANDERS, THE NAVY'S NUMBERED FLEET COMMANDERS, OTHER NAVY AND MARINE CORPS COMMANDERS, THE U.S. INTELLIGENCE COMMUNITY, AND OTHER DEPARTMENTS AND AGENCIES OF THE U.S. GOVERNMENT. C. SUPPORT COMBAT READINESS: CONDUCT TRAINING, EDUCATION, LEADERSHIP, AND ASSESSMENT ACTIVITIES TO SUPPORT THE ABILITY OF THE NAVY'S JOINT FORCE MARITIME AND NAVY COMPONENT COMMANDERS TO FUNCTION EFFECTIVELY AS OPERATIONAL COMMANDERS. D. STRENGTHEN MARITIME SECURITY COOPERATION: BRING TOGETHER SENIOR AND INTERMEDIATE LEVEL NAVAL OFFICERS FROM 129 OTHER NATIONS TO DEVELOP LEADERS FOR HIGH COMMAND IN THEIR NAVIES; PROMOTE AN OPEN EXCHANGE OF PROFESSIONAL VIEWS; ENCOURAGE FRIENDSHIP AND COOPERATION; AND STUDY OPERATIONAL PLANNING METHODS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $13,175,016
Program Service Revenue $0
Investment Income $5,074,835
Other Revenue $-162,548
TOTAL REVENUE $18,087,303

Expense Breakdown

Grants Paid $1,868,975
Salaries & Benefits $1,490,889
Fundraising Expenses $1,122,782
Program Expenses $2,073,944
Other Expenses $1,195,829
TOTAL EXPENSES $4,840,693

Year-over-Year Comparison

2023 2022 Change
Revenue $18,087,303 $4,293,682 +3.2%
Expenses $4,840,693 $4,390,006 +0.1%
Net Income $13,246,610 $-96,324 -138.5%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
31
Independent Members
31
Employees
19
Volunteers
36

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
8
$687,946
Total Directors
36
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MR PHILIP M BILDEN CHAIRMAN (UNTIL JUNE 2023) 5.00
Officer Director
$0 $0 $0
MR DANIEL E HOLLAND III CHAIRMAN 5.00
Officer Director
$0 $0 $0
RDML AB CRUZ III USN RET VICE-CHAIRMAN & TREASURER 5.00
Officer Director
$0 $0 $0
MR MITCHELL B WALDMAN SECRETARY 5.00
Officer Director
$0 $0 $0
MR GREGORY ANNICK TRUSTEE 1.00
Director
$0 $0 $0
DR STEPHANIE BENNETT SMITH TRUSTEE 1.00
Director
$0 $0 $0
HONORABLE ERIK P BETHAL TRUSTEE 1.00
Director
$0 $0 $0
MR DUNCAN A CHAPMAN TRUSTEE 1.00
Director
$0 $0 $0
MR DUNCAN H COCROFT TRUSTEE 1.00
Director
$0 $0 $0
HONORABLE MICHAEL W COULTER TRUSTEE 1.00
Director
$0 $0 $0
MRS NANCY CUSHING EVANS TRUSTEE 1.00
Director
$0 $0 $0
MR DOMINIC A DANNESSA PHD TRUSTEE 1.00
Director
$0 $0 $0
MR PAUL A DIMITRUK TRUSTEE 1.00
Director
$0 $0 $0
AMBASSADOR PAULA J DOBRIANSKY TRUSTEE 1.00
Director
$0 $0 $0
MR PHILIP DUNMIRE TRUSTEE 1.00
Director
$0 $0 $0
CAPT DAVID P HUNTER USN RET TRUSTEE 1.00
Director
$0 $0 $0
MR RALPH H ISHAM TRUSTEE 1.00
Director
$0 $0 $0
MR CARL C LIEBERT TRUSTEE 1.00
Director
$0 $0 $0
HONORABLE RONALD MACHTLEY TRUSTEE 1.00
Director
$0 $0 $0
CRD BYRON F MARCHANT ESQ TRUSTEE 1.00
Director
$0 $0 $0
MR DOUGLAS MATTHEWS TRUSTEE 1.00
Director
$0 $0 $0
MR JAMES S METCALF TRUSTEE 1.00
Director
$0 $0 $0
MR HOWARD MORGAN TRUSTEE 1.00
Director
$0 $0 $0
MR DOUGLAS L NEWHOUSE TRUSTEE 1.00
Director
$0 $0 $0
MR BENJAMIN W PARTRIDGE IV TRUSTEE 1.00
Director
$0 $0 $0
MR DANIEL P QUIGLEY TRUSTEE 1.00
Director
$0 $0 $0
MR KEVIN J ROCHFORD TRUSTEE 1.00
Director
$0 $0 $0
MS BARBARA SCHOENFELD TRUSTEE 1.00
Director
$0 $0 $0
MR DWIGHT D SIPPRELLE TRUSTEE 1.00
Director
$0 $0 $0
MR J RONALD TEWILLGER TRUSTEE 1.00
Director
$0 $0 $0
MR ARCHBOLD D VAN BEUREN TRUSTEE 1.00
Director
$0 $0 $0
MR SCOTT DEPASQUALE TRUSTEE (UNTIL JUNE 2023) 1.00
Director
$0 $0 $0
HONORABLE JULIETTE C MCLENNAN TRUSTEE (UNTIL JUNE 2023) 1.00
Director
$0 $0 $0
VADM ALLEN G MYERS USN RET TRUSTEE (UNTIL JUNE 2023) 1.00
Director
$0 $0 $0
MR JOSEPH G NICHOLAS TRUSTEE (UNTIL JUNE 2023) 1.00
Director
$0 $0 $0
RADM JULIUS S CAESAR USNRET TRUSTEE 1.00
Director
$0 $0 $0
CAPT GEORGE E LANG JR USN CHIEF EXECUTIVE OFFICER & PRESIDENT 40.00
Officer
$284,560 $16,350 $300,910
VICTOR STANESCU CFO & EXEC. DIR., DEVELOPMENT 40.00
Officer
$258,591 $24,801 $283,392
CARLA KNOROWSKI PRESIDENT AND CDO (UNTIL MARCH 2023) 40.00
Officer
$63,832 $2,630 $66,462
CATHLEEN COYLE WEBSTER CHIEF DEVELOPMENT OFFICER 40.00
Officer
$35,077 $2,105 $37,182
KIMBERLY BERRY DIRECTOR OF DEVELOPMENT 40.00
Highest
$129,005 $24,180 $153,185
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $18,087,303 $4,840,693 $66,658,457 $13,246,610
2023 $18,087,303 $4,840,693 $66,658,457 $13,246,610
2022 $4,293,682 $4,390,006 $52,719,377 $-96,324
2021 $5,932,022 $4,508,289 $53,017,000 $1,423,733
2020 $3,900,088 $3,447,135 $47,645,265 $452,953
2019 $15,095,455 $3,155,431 $49,201,414 $11,940,024
2018 $6,608,899 $3,159,006 $34,164,262 $3,449,893
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