2022-08-16T07:16:09-05:00 2021-12-31 560574444 CHERRY BEKAERT LLP 6116 EXECUTIVE BLVD STE 600 ROCKVILLE MD 20852 990 2021-01-01 521104476 US NAVY MEMORIAL FOUNDATION USNA 2023800762 701 PENNSYLVANIA AVENUE NW 123 WASHINGTON DC 20004 REAR ADM FRANK THORP IV USN RET PRESIDENT AND CEO 2023800762 2022-08-11 1 REAR ADM FRANK THORP IV U 999009999 RAYMOND BARBAGALLO P00173692 3015899000 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z REAR ADM FRANK THORP IV 701 PENNSYLVANIA AVENUE NW 123 WASHINGTON DC 20004 5840047 0 X WWW.NAVYMEMORIAL.ORG X 1977 IL THE US NAVY MEMORIAL'S MISSION IS TO HONOR, RECOGNIZE AND CELEBRATE THE MEN AND WOMEN OF THE SEA SERVICES, AND TO INFORM THE PUBLIC ABOUT THEIR SERVICE. 20 19 27 2 111397 98377 3633258 5137984 109552 223925 50252 63268 171326 222055 3964388 5647232 0 0 0 0 1141332 1411342 269040 294000 917840 2720276 3413909 4130648 5119251 -166260 527981 3149145 3731955 1373783 1307066 1775362 2424889 X THE NAVY MEMORIAL MISSION IS TO HONOR, RECOGNIZE AND CELEBRATE THE MEN AND WOMEN OF THE SEA SERVICES AND THE IMPORTANT CONTRIBUTIONS MADE BY THEM WHILE SERVING IN THE UNITED STATES NAVY, MARINE CORPS, COAST GUARD AND MERCHANT MARINES. THE NAVY MEMORIAL SERVES TO EDUCATE AND INSPIRE THE AMERICAN PEOPLE ABOUT THE VITAL ROLE THAT THE SEA SERVICES PLAY IN OUR NATIONAL SECURITY AND THE RICH MARITIME HISTORY OF THE UNITED STATES. 0 0 1766956 111312 VISITOR CENTER SERVICES - THE VISITOR CENTER HONORS, RECOGNIZES, AND CELEBRATES AMERICA'S ENDURING MARITIME HERITAGE THROUGH COMMEMORATIVE CEREMONIES, REUNION MEETINGS, REENLISTMENT AND RETIREMENT CEREMONIES, BAND CONCERTS, FILM AND VIDEO PRESENTATIONS, PHOTOGRAPHIC AND DATA COLLECTIONS, SPECIAL EVENTS, AND EXHIBITS.DUE TO THE ONGOING COVID-19 PANDEMIC, THE VISITOR CENTER REMAINED CLOSED TO THE PUBLIC THROUGH JUNE 16, 2021. THE VISITOR CENTER WAS ABLE TO REOPEN TO THE PUBLIC ON A LIMITED BASIS BEGINNING JUNE 17, 2021. CONTINUING PUBLIC HEALTH SAFETY RESTRICTIONS IN THE DISTRICT OF COLUMBIA HAD A SIGNIFICANT IMPACT ON THE NUMBER AND TYPES OF IN-PERSON EVENTS THAT WERE ALLOWED TO BE HELD IN THE VISITOR CENTER THROUGH THE REMAINDER OF 2021. DURING THIS TIME, THE NAVY MEMORIAL CONTINUED TO FULFIL ITS MISSION THROUGH ONLINE COMMEMORATIVE EVENTS WHICH ENABLED THE NAVY MEMORIAL TO EXPAND THE IMPACT OF ITS PROGRAMMING TO AUDIENCES ACROSS THE GLOBE. 689179 112613 EDUCATIONAL SERVICES - EDUCATE THE PUBLIC ABOUT THE HERITAGE OF THE UNITED STATES AS A MARITIME NATION AND THE CONTRIBUTIONS OF MEN AND WOMEN IN THE SEA SERVICES THROUGH EXHIBITS, FILM AND VIDEO PRESENTATIONS, LECTURES, TOURS, PUBLICATIONS, AND EVENTS. DURING THE GLOBAL COVID-19 PANDEMIC, THE NAVY MEMORIAL CONTINUED TO ENHANCE AND EXPAND ITS ONLINE EDUCATIONAL OFFERINGS TO INCLUDE A DIGITIZED VERSION OF THE JUNIOR SAILOR PROGRAM, ONLINE COURSE MATERIALS FOR K-12 ON HISTORY AND HERITAGE, SEA SERVICE TRADITIONS AND ARCHIVAL RESEARCH. 951202 THE FOUNDATION HOSTS SEVERAL SPECIAL EVENTS THROUGHOUT THE YEAR TO SUPPORT ITS PROGRAM ACTIVITIES. THE EVENTS CARRIED OUT DURING 2021 INCLUDED THE FOLLOWING:1. LONE SAILOR AWARDS DINNER - RECOGNIZES THE ACCOMPLISHMENTS OF FORMER MEMBERS OF THE SEA SERVICES AND EDUCATES THE PUBLIC ON THE MISSION OF THE NAVY MEMORIAL. DUE TO THE COVID-19 PANDEMIC AND THE PARTIAL LIFTING OF DISTRICT OF COLUMBIA RESTRICTIONS, WE WERE ABLE TO HOLD A SMALL RECEPTION WHERE THE AWARDS WERE PRESENTED TO THE HONOREES AND THE ONE-HOUR ONLINE PROGRAM WAS PREMIERED. THE PROGRAM WAS AIRED ONLINE FIVE DAYS LATER.2. DELBERT D. BLACK AWARD DINNER - RECOGNIZES ONE OUTSTANDING FIRST-TOUR COMMAND MASTER CHIEF, CHIEF OF THE BOAT, OR COMMAND SENIOR CHIEF WHOSE PERFORMANCE AND LEADERSHIP OF SAILORS EMBODIES THE NAVY CORE VALUES AND CHIEF PETTY OFFICER EXPECTATIONS AND DEMONSTRATES THOSE SAME IDEALS OF SERVICE WITH SACRIFICE AS DEMONSTRATED BY MCPON BLACK, AND UPHOLDS THE HIGHEST STANDARDS OF PROFESSIONALISM AND INTEGRITY. 3. COMMEMORATIVE PLAQUE PROGRAM - PERMANENT COMMEMORATIVE PLAQUES OF SHIPS, REUNION GROUPS, HISTORICAL EVENTS, INDIVIDUALS AND FAMILIES, ETC. ON THE PLAQUE WALL WITHIN THE VISITOR CENTER.4. SAILOR OF THE YEAR - IN ORDER TO EXPAND THE RECOGNITION OF THE OUTSTANDING SAILORS IN THE FLEET, THE NAVY INCREASED THE NUMBER OF SAILORS RECOGNIZED AS SAILORS OF THE YEAR FROM 4 IN 2020 TO 18 IN 2021. THE SAILOR OF THE YEAR PROGRAM AT THE NAVY MEMORIAL RECOGNIZES THESE SAILORS THROUGH THE PRODUCTION OF A BROADCAST QUALITY, HOUR-LONG ONLINE PROGRAM THAT FEATURES A VIDEO OF EACH OF THE SAILORS OF THE YEAR. THE PROGRAM IS BROADCAST ON THE NAVY'S BIRTHDAY. CLIPS OF THAT PROGRAM ARE THEN ADDED TO THE PERMANENT SAILOR OF THE YEAR EXHIBIT WHICH IS LOCATED INSIDE THE DELBERT D. BLACK NATIONAL CHIEF'S MESS IN THE NAVY MEMORIAL'S VISITOR CENTER.5. FANTAIL BREAKFASTS - BRINGS TOGETHER SENIOR NAVY LEADERSHIP TO DISCUSS CURRENT NAVY PROJECTS AND PLANS WITH INDUSTRY LEADERS.6. BRIDGE WING CHATS - BRINGS TOGETHER SENIOR NAVY LEADERS AND JUNIOR OFFICERS FOR DISCUSSIONS ON CAREER PATHS, CURRENT TOPICS AFFECTING THE NAVY, EDUCATIONAL OPPORTUNITIES FOR PROFESSIONAL DEVELOPMENT OF JUNIOR OFFICERS, ETC. DUE TO THE GLOBAL COVID-19 PANDEMIC, THE NAVY MEMORIAL WAS UNABLE TO HOST BRIDGE WING CHATS IN 2021. BECAUSE OF THE PARTICIPATORY NATURE OF THIS PROGRAM, IT WAS NOT POSSIBLE TO HOLD THE EVENT VIRTUALLY.7. MOVIES ON THE MEMORIAL - NAVY-THEMED MOVIES SHOWN OUTSIDE ON THE NAVY MEMORIAL PLAZA, FREE AND OPEN TO THE PUBLIC. 8. STATUE PROGRAM - PAYS TRIBUTE TO ALL MEMBERS OF THE SEA SERVICES BY PLACING REPLICAS OF THE LONE SAILOR STATUE IN CITIES AROUND THE US AND ABROAD (NORMANDY, FRANCE). THE PROGRAM ALSO PLACES SMALLER BRONZE LONE SAILOR STATUES ON SHIPS BEING COMMISSIONED.9. SITREP SPEAKER SERIES - THE SITREP (SITUATION REPORT) SPEAKER SERIES WAS DEVELOPED AS A DIRECT RESULT OF THE COVID-19 PANDEMIC. THE SITREP SPEAKER SERIES FOCUSES ON A ONE-ON-ONE CHAT BETWEEN THE NAVY MEMORIAL PRESIDENT AND CEO AND A HIGH-RANKING GUEST FROM THE NAVY OR THE DEPARTMENT OF DEFENSE. THE TOPICS DISCUSSED RANGE FROM CURRENT OPERATIONS AND INITIATIVES WITHIN THE NAVY TO THE GUEST'S PERSONAL THOUGHTS ON CERTAIN MATTERS. 212371 1251 SALES OF MEMORABILIA TO FURTHER EDUCATE THE PUBLIC REGARDING THE ROLE OF THE NAVY AND THE CONTRIBUTIONS OF THOSE WHO HAVE SERVED THE UNITED STATES IN THE NAVY, MARINE CORPS, COAST GUARD, OR MERCHANT MARINE. 212371 1251 3619708 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 1 27 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV NV X X SCOTT MATIRNE 2023800762 701 PENNSYLVANIA AVENUE NW 123 WASHINGTON DC 20004 ADM JOHN C HARVEY JR USN RET CHAIRMAN 1.00 X X 0 0 0 VADM CAROL M POTTENGER USN RET VICE CHAIRMAN 1.00 X X 0 0 0 MR JOHN B BURKE TREASURER 1.00 X X 0 0 0 VADM HAROLD D STARLING USN RET SECRETARY 1.00 X X 0 0 0 MR JOHN P BUSH DIRECTOR 1.00 X 0 0 0 JACQUELINE ARENDS DIRECTOR 1.00 X 0 0 0 MR LAWRENCE DI RITA DIRECTOR 1.00 X 0 0 0 MR FRANK B GLASSNER DIRECTOR 1.00 X 0 0 0 RADM MARK HEINRICH SC USN RET DIRECTOR 1.00 X 0 0 0 MCPON JAMES L HERDT USN RET DIRECTOR 1.00 X 0 0 0 MR MATTHEW H KIRTLAND DIRECTOR 1.00 X 0 0 0 THOMAS R KUHN DIRECTOR 1.00 X 0 0 0 HARRY COKER JR DIRECTOR 1.00 X 0 0 0 JO DECKER DIRECTOR 1.00 X 0 0 0 CAPT JOSEPH L SPRUILL USN RET DIRECTOR 1.00 X 0 0 0 MR VICTOR S TRIONE DIRECTOR 1.00 X 0 0 0 RADM EDWARD K WALKER JR SC USN DIRECTOR 1.00 X 0 0 0 RDML FRANK THORP IV USN RET PRESIDENT/CEO 40.00 X X 233078 0 9403 VADM LUKE MCCOLLUM UNS RET DIRECTOR 1.00 X 0 0 0 RADM SAMUEL PEREZ JR USN RET DIRECTOR 1.00 X 0 0 0 CDR WILLIAM NEWELL USN RET DIRECTOR 1.00 X 0 0 0 MR SCOTT D MATIRNE CFO 40.00 X 122862 0 16810 355940 0 26213 2 0 1 0 ALONGI MEDIA SOLUTIONS 119 COBBLESONE BLVD MONROE TOWNSHIP NJ 08831 VIDEO FILMING AND PRODUCTION 315300 NNE MARKETING LLC 1666 MASSACHUSETTS AVE STE 14 LEXINGTON MA 02420 DIRECT MAIL CONSULTING 294000 IMPACT XM PO BOX 674910 DETROIT MI 48267 EXHIBIT CONSTRUCTION/INSTALLATION 148180 3 326312 4811672 6102 5137984 NAVY CEREMONY 900099 112613 112613 VISITOR CENTER 900099 111312 111312 223925 46704 46704 699 699 61822 45258 16564 16564 16564 148808 147557 1251 1251 AFFINITY PROGRAM 900099 125239 111397 13842 INSURANCE PROCEEDS 900099 75000 75000 19866 19866 220105 5647232 225176 111397 172675 374606 323257 43087 8262 865121 746534 99506 19081 20221 17449 2326 446 26971 23274 3102 595 124423 107368 14311 2744 35207 35207 38228 38228 294000 294000 454637 426220 28417 81766 81766 755139 556011 40295 158833 172334 20832 55076 96426 1026528 932074 65249 29205 16649 13396 3253 83702 71718 145 11839 11361 11361 194161 178740 15421 UBI TAX 37549 37549 DIRECT MAIL CAMPAIGNS 366213 100164 266049 MISCELLANEOUS 104612 20905 83073 634 LIST RENTAL EXPENSE 26473 26473 9350 9350 5119251 3619708 581703 917840 X 817093 490256 0 326837 34110 66094 370639 561730 28100 23350 163261 147149 84072 95184 93678 125174 11668636 10599405 929485 1069231 1304101 1494422 6945 6151 134754 143470 3149145 3731955 134554 299180 598263 657831 232200 408766 350055 1373783 1307066 X 1240872 1925515 534490 499374 1775362 2424889 3149145 3731955 527981 121546 0 X 0 1 X 1 0 X 4756840 5099361 3978105 3633258 5137984 22605548 4756840 5099361 3978105 3633258 5137984 22605548 810053 21795495 25355 36065 29551 26958 47403 165332 98687 101767 99796 105897 99362 505509 22145 5633 94670 2340 19866 144654 23421043 2565019 0.93060 0.93250 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 68075 X 0 192887 3775 196662 192657 5729 5499 192887 196220 4934 8497 192657 195056 6163 4999 196220 212332 19038 36314 195056 1.00000 0.00000 0 0 6890636 6456847 433789 4778000 4142558 635442 1069231 DEFERRED RENT 123353 ANNUITIES PAYABLE 226702 350055 X 5916335 121546 121546 5794789 -147557 -147557 5647232 5266808 147557 147557 5119251 0 5119251 PART III, LINE 4: THE ART COLLECTION CONSISTS OF OIL PAINTINGS OF THE EIGHT US PRESIDENTS WHO EITHER SERVED IN THE US NAVY OR WERE SECRETARIES OF THE NAVY. THE FOUNDATION'S EXEMPT PURPOSE IS TO EDUCATE THE PUBLIC ABOUT MARITIME HERITAGE. THESE PAINTINGS SHOW MEN WHO WERE A PART OF THAT MARITIME HERITAGE. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS WERE ESTABLISHED FOR THE PURPOSE OF SECURING THE FOUNDATION'S LONG-TERM FINANCIAL VIABILITY AND CONTINUING TO MEET THE NEEDS OF THE FOUNDATION. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION IS NOT CONSIDERED A PRIVATE FOUNDATION. THE FOUNDATION IS REQUIRED TO PAY FEDERAL AND STATE INCOME TAXES ONLY ON UNRELATED BUSINESS INCOME. MANAGEMENT HAS CONCLUDED THAT THE FOUNDATION HAS MAINTAINED ITS TAX EXEMPT STATUS AND THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2021 AND 2020. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -147,557. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 147,557. X X X 1 NNE MARKETING 1666 1666 MASSACHUSETTS AVENUE SUITE 14 LEXINGTON MA 02420 DIRECT MAIL MARKETING 0 2154419 294000 1860419 2154419 294000 1860419 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MO MS NC ND NH NJ NM NV NY OH OK OR PA RI SC TN UT VA WA WI WV X X X X X 0 0 0 0 0 0 0 1 0 RDML FRANK THORP IV USN RET PRESIDENT/CEO 196597 0 36372 0 109 0 6000 0 3403 0 242481 0 0 0 PART I, LINE 7 THE PRESIDENT RECEIVED A BONUS DURING THE YEAR. THIS COMES AS A RECOMMENDATION FROM THE COMPENSATION COMMITTEE AND IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD. THE CHIEF FINANCIAL OFFICER ALSO RECEIVED A BONUS DURING THE YEAR. THIS COMES AT THE DISCRETION OF THE PRESIDENT AND CEO. FORM 990, PART VI THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS IS AUTHORIZED TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. THE MEMBERSHIP OF THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIRMAN OF THE BOARD, VICE-CHAIRMAN, SECRETARY, TREASURER AND ALL BOARD COMMITTEE CHAIRMEN, AS WELL AS THE PRESIDENT AND CEO OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO THE FILING OF THE FORM 990 WITH THE INTERNAL REVENUE SERVICE, EACH MEMBER OF THE FINANCE AND INVESTMENT COMMITTEE IS GIVEN A COPY FOR THEIR REVIEW. ONCE THE FINANCE AND INVESTMENT COMMITTEE HAS REVIEWED THE RETURNS, THE RETURNS ARE SENT TO THE ENTIRE GOVERNING BODY, WHICH HAS THREE DAYS TO REVIEW AND SUBMIT QUESTIONS. ALL QUESTIONS ARE COLLECTIVELY ANSWERED ELECTRONICALLY PRIOR TO SUBMISSION OF THE 990. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, AT THE SPRING MEETING, THE BOARD AND SENIOR STAFF COMPLETE THE CONFLICT OF INTEREST STATEMENT. IT IS EMAILED OR FAXED TO THOSE NOT ATTENDING THE MEETING. WHEN RETURNED, THE STATEMENTS ARE REVIEWED BY SENIOR MANAGEMENT. SENIOR MANAGEMENT IS USUALLY AWARE OF THE CONFLICT PRIOR TO ADDING THE PERSON TO THE BOARD OR TO THE STAFF. BETWEEN SPRING BOARD MEETINGS, THE CHAIRMAN ADVISES THE DIRECTORS AND SENIOR STAFF THAT THEY ARE TO UPDATE THE CONFLICT OF INTEREST STATEMENTS IN THE EVENT OF A POSSIBLE CONFLICT OF INTEREST. IN THE EVENT OF A CONFLICT OF INTEREST, THE INTERESTED PERSON MAY MAKE A PRESENTATION AT THE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION PROCESS AT THE UNITED STATES NAVY MEMORIAL FOUNDATION IS DESIGNED TO PROVIDE COMPENSATION THAT IS AT THE MEDIAN LEVEL OF FOUNDATIONS AND ASSOCIATIONS IN THE NATIONAL CAPITAL REGION. THE LEADERSHIP TEAM AT THE UNITED STATES NAVY MEMORIAL FOUNDATION, CONSISTING OF THE PRESIDENT, CEO AND THE CHIEF FINANCIAL OFFICER, MEET ANNUALLY TO REVIEW THE POSITION DESCRIPTIONS AND THE LEVEL OF WORK TO ENSURE THAT THE INDIVIDUALS IN THE FOUNDATION ARE EFFECTIVELY BEING COMPARED TO THEIR PEERS IN OTHER ORGANIZATIONS. DURING THE COMPENSATION REVIEW PROCESS, THE WORK PERFORMANCE OF ALL EMPLOYEES ARE REVIEWED, AND A DETERMINATION IS MADE REGARDING ANY INCREASES IN SALARY. ADDITIONALLY, A DECISION IS MADE ABOUT WHETHER ANY RAISE IS POSSIBLE BASED ON THE FOUNDATION'S FINANCIAL CONDITION. ANNUALLY, EMPLOYEES ARE REVIEWED ON THE BASIS OF PERFORMANCE. THE PERFORMANCE REVIEW DOCUMENT IS WRITTEN FOR EACH INDIVIDUAL EVALUATING THEIR PERFORMANCE AGAINST THE GOALS THAT ARE ESTABLISHED FOR THE YEAR. THE COMPENSATION COMMITTEE ALSO REVIEWS THE AGGREGATE SALARY STRUCTURE FOR THE REMAINDER OF THE EMPLOYEES TO ENSURE THAT THE AGGREGATE COMPENSATION APPEARS FAIR AND REASONABLE. THE COMPENSATION FOR THE PRESIDENT IS REVIEWED ANNUALLY BY THE COMPENSATION COMMITTEE OF THE BOARD. THE TOTAL COMPENSATION POOL FOR STAFF IS ALSO REVIEWED ANNUALLY BY THIS COMMITTEE. THE PRESIDENT AND CEO'S MOST RECENT COMPENSATION REVIEW WAS HELD IN DECEMBER 2021. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT MADE AVAILABLE TO THE PUBLIC, HOWEVER THE AUDITED FINANCIAL STATEMENTS AND THE 990 ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE.