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Compensation 990 is an independent service that uses public IRS Form 990 filings as its source data. We clean and standardize this information, but the original filings may contain errors or omissions. Years on this site refer to the organization’s fiscal year end date on the filing.

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Organizations The Naval Institute Foundation Inc.

The Naval Institute Foundation Inc.

Fiscal year ending 2024. Filed on May 7, 2025.

291 Wood Road
Annapolis, Maryland 21402

The Naval Institute Foundation Inc. (EIN: 52-1814344) has filed an IRS Form 990 since at least fiscal year 2016. In its fiscal year 2024 IRS Form 990 filing, The Naval Institute Foundation Inc., a 501(c)(3) charitable organization, reported compensation for 4 employees. Among the employees shown here, the average compensation is $255,875. The highest compensated employee at The Naval Institute Foundation Inc. is Radm Raymond A Spicer Usn Ret with fiscal year 2024 compensation of $387,646.

Revenue, expenses, and employee compensation

Revenue

$6,120,881

Expenses

$4,801,914

Employee compensation

$1,087,018
Revenue, expenses, and employee compensation over time

Reported Compensated Employees

Radm Raymond A Spicer Usn Ret
Chief Executive Officer and Director
$387,646
$0 $362,246 $25,400
Douglas Wallen
Treasurer
$248,858
$0 $213,623 $35,235
Heather Lancaster
COO, Secretary, Director
$221,662
$0 $211,267 $10,395
Vadm Peter H Daly Usn Ret
Former CEO, Consultant
$165,333
$0 $165,239 $94

Benchmark Employee Compensation

Non-Employee Board Members

Adm Jonathan Greenert Usn Ret
Director - Board Liaison (Thru MAY)
Cdr Gregory E Glaros Usn Ret
Director
Dirk P Mosis
Director
Gen Peter Pace Usmc Ret
Chair and Director
Jane Clayton Johnson
Director
John Majoras
Director (AS of NOV)
Martin J Bollinger
Director
Mel Immergut
Director - Board Liason
Michael J Salvato
Director
Michael M Wiseman, Esq
Vice Chair and Director
Mr Stephen M Waters
Director
Radm Kendell Pease Usn Ret
Director

Mission Statement

THE NAVAL INSTITUTE FOUNDATION WAS ORGANIZED TO OPERATE EXCLUSIVELY TO RAISE FUNDS FOR CHARITABLE AND EDUCATIONAL PURPOSES TO FURTHER THE MISSION AND POLICIES OF THE UNITED STATES NAVAL INSTITUTE.

Revisions to this organization profile

May 7, 2025:
2024 The Naval Institute Foundation Inc. 990 filed
May 13, 2024:
2023 The Naval Institute Foundation Inc. 990 filed
May 15, 2023:
2022 The Naval Institute Foundation Inc. 990 filed

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