United States Navy Memorial Foundation

Year Founded:

1978

Address:

701 Pennsylvania Avenue NW NO 123
Washington, DC 20004

EIN:

52-1104476

Top Leadership Pay:

President and CEO RDML Frank Thorp IV, USN, Ret., $233,078

Employees:

27

Revenue:

$5,647,232

Expenses:

$5,119,251

Description

Based on its 2021 tax return, we calculate that United States Navy Memorial Foundation spent 45.3 percent of its $5.1 million budget on overhead. This is higher than our recommended 25 percent overhead spending.

Additionally, the United States Navy Memorial Foundation used joint cost accounting for 16 percent of its budget. While legal, this accounting method can disguise overhead costs as program spending. We recommend that no more than 5 percent of a budget be allocated to joint cost accounting.

We do not recommend giving to United States Navy Memorial Foundation. See our lists of Highly Recommended Charities and Recommended Charities for alternatives.

Mission Statement

The United States 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.