Financials
The consolidated financial statements in this report accurately present the organization’s positions, results of operations and workflows. The financial information is prepared in accordance with generally accepted accounting principles in the United States. Independent Auditors audit the accompanying consolidated financial statements of The United States Naval Academy Alumni Association, Inc. (the Alumni Association) and United States Naval Academy Foundation, Inc. (the Foundation), which comprise the consolidated statements of financial position.
AUDITED FINANCIAL REPORT
Bylaws and Operating Manual
Bylaws are rules or regulations established by our organization to govern our internal operations. They provide structure, clarify procedures, resolve conflicts, and ensure consistency within the specified entity. These bylaws are reviewed and approved by the Board of Trustees (formed under the laws of the State of Maryland).
The purpose of the Operating Manual is to amplify the policies and procedures of the Board of
Trustees (Board) established by the Bylaws of the U.S. Naval Academy Alumni Association
(Association). This manual is authorized by Article VIII, Section 8.1 of the Bylaws, and is
intended to guide the officers, agents and employees of the Association, and committees of the
Board other than the executive committee, but neither the Board nor the executive committee is
required to comply with provisions of the Manual that conflict with any reasonable interpretation
of the Bylaws.
READ OPERATING MANUALPrivacy Policy
Transparency and informing our membership and the public about how their data is being used are two basic goals of this privacy policy. This privacy notice is intended to help our membership make informed decisions about the data the U.S. Naval Academy Alumni Association and Foundation collects and uses.
READ POLICYCertificate of Incorporation & Tax Determination Letter 501(C)3
A certificate of incorporation is a document that confirms your company's formation. Also known as the articles of incorporation or a corporate charter, this document is essential for doing business as a corporation. Anyone who your business authorizes can file your articles of incorporation.
READ CERTIFICATEA 501 (c) (3) determination letter is a written notification from the IRS that informs an organization whether its application for tax-exempt status has been approved or denied. After applying with the IRS for 501 (c) (3) status, it may take between 3 and 6 months to get a determination letter confirming approval. The determination letter is proof of the organization's tax-exempt status.
READ LETTERBoard Policy Concerning Trustee Communications
This policy delineates the privileges afforded individual trustees to use Alumni Association communications channels and provides guidance to trustees on their official communications with others. Official communications are those that utilize the Association’s communications channels as facilitated by Association’s professional staff. The communications channels include but are not limited to the Association’s website, e-mail system, print publications and digital communications and media.
READ POLICYInvestment Policy Statement
The Investment Policy Statement following serves as the cornerstone of the Associations’ investment program, as developed by the Joint Investment Committee and approved by both boards.
READ STATEMENTExecutive Compensation Statement
To ensure the officers receive fair and reasonable compensation and the organizations are in compliance with Internal Revenue Service regulations, a Joint Compensation and HR Committee was formed comprised of members of both the Alumni and Foundation Boards.
The Committee selects an independent professional compensation consultant to conduct a market survey and conclude an appropriate range for the compensation package. Salaries are based on such factors as job responsibilities, performance, and compensation of those in similar positions at other institutions.
READ STATEMENTConflict of Interest Form
A conflict-of-interest declaration form is a documentary disclosure statement provided by our organization with regard to having interest with another that involves any financial or personal interest.
READ DECLARATIONStrategic plan 2030
The U.S. Naval Academy Alumni Association and Foundation is shares our Strategic Plan 2030.
This plan was approved by the Alumni Association Board of Trustees in May 2023, and it will guide how we as an organization CONNECT, COMMUNICATE and SUPPORT our members, as well as how we ANCHOR our activities and tactics in a sound and effective financial execution.
READ PLAN
Codes of Conduct
Standards of Conduct document outlines the principles for trustees to execute their governance responsibility to the Alumni Association. It is vital that trustees, non-trustee committee members, and officers of the Association understand, commit, and operate according to these principles.
READ STANDARDThe Digital Code of Conduct is a set of guidelines and expectations for all users engaging with USNA AA&F on digital platforms, including social media, USNA.com, and myUSNA.com. This document outlines the principles and standards that foster a respectful and inclusive environment for all users. By participating in any digital platform associated with USNA AA&F, users acknowledge and agree to adhere to this code.
READ DIGITAL