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., $245,697
Employees:
32
Revenue:
$7,300,610
Expenses:
$5,892,995
Description
Based on its 2023 tax return, we calculate that United States Navy Memorial Foundation spent 72 percent of its $5.8 million budget on programs and 28 percent on overhead. This is higher than our recommended 25 percent maximum overhead spending.
United States Navy Memorial Foundation used joint cost accounting for 12.1 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.