The Foundation may assess a 5% establishment fee on all gifts restricted to specific purpose, as well as a 1.25% annual management fee on the remaining balance in those funds and endowments restricted for a specific purpose.
Gifts made to the unrestricted Naval Academy Fund, or to class projects that include a portion to the Naval Academy Fund, are exempt from these fees.
Income from these fees helps fund the Foundation’s operations as well as those of the Alumni Association.