Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $1,438,519

• 1f · All other contributions, gifts and grants

  $1,215,015

• 2a · Program service revenue: SEA-AIR SPACE EXPO.

  total $9,504,133 · related or exempt $7,246,608 · excluded $2,257,525

• 2b · Program service revenue: PUBLICATIONS

  total $279,597 · unrelated business $279,597

• 3 · Investment income

  total $483,639 · excluded $483,639

• 6a · Gross rents

  real property $5,419,190

• 6b · Less rental expenses

  real property $5,528,052

• 6c · Rental income or loss

  real property -$108,862

• 6d · Net rental income or loss

  total -$108,862 · unrelated business -$238,362 · excluded $129,500

• 7a · Gross sales of assets other than inventory

  securities $448,288

• 7b · Less cost or other basis and sales expenses

  securities $0

• 7c · Gain or loss

  securities $448,288

• 7d · Net gain or loss

  total $448,288 · excluded $448,288

• 11a · Other revenue: OTHER REVENUE

  total $232,702 · excluded $232,702

• 11b · Other revenue: NAVY BALL

  total $118,500 · related or exempt $118,500

• 11e · Other revenue, total

  $351,202

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,115 · program services $1,115

• 2 · Grants to domestic individuals

  total $11,402 · program services $11,402

• 5 · Compensation of officers, directors and key employees

  total $1,130,035 · program services $461,399 · management and general $621,686 · fundraising $46,950

• 7 · Other salaries and wages

  total $2,933,066 · program services $1,197,586 · management and general $1,613,620 · fundraising $121,860

• 8 · Pension plan contributions

  total $124,185 · program services $50,705 · management and general $68,320 · fundraising $5,160

• 9 · Other employee benefits

  total $256,051 · program services $104,547 · management and general $140,866 · fundraising $10,638

• 10 · Payroll taxes

  total $273,772 · program services $111,783 · management and general $150,615 · fundraising $11,374

• 11b · Fees: legal

  total $23,973 · program services $19,405 · management and general $4,568

• 11c · Fees: accounting

  total $55,787 · program services $45,156 · management and general $10,631

• 11e · Fees: professional fundraising services

  total $20,255 · fundraising $20,255

• 11f · Fees: investment management

  total $83,235 · management and general $83,235

• 11g · Fees: other

  total $579,060 · program services $485,109 · management and general $93,951

• 12 · Advertising and promotion

  total $51,888 · management and general $51,888

• 13 · Office expenses

  total $520,114 · program services $241,497 · management and general $268,065 · fundraising $10,552

• 14 · Information technology

  total $166,996 · management and general $153,940 · fundraising $13,056

• 16 · Occupancy

  total $794,113 · program services $481,207 · management and general $286,971 · fundraising $25,935

• 17 · Travel

  total $98,521 · program services $96,269 · management and general $1,853 · fundraising $399

• 19 · Conferences, conventions and meetings

  total $2,434,641 · program services $2,379,000 · management and general $45,783 · fundraising $9,858

• 22 · Depreciation, depletion and amortization

  total $104,648 · program services $11,426 · management and general $93,222

• 23 · Insurance

  total $97,689 · program services $10,666 · management and general $87,023

• 24a · Other expenses: EQUIPMENT & SOFTWARE

  total $308,535 · management and general $308,535

• 24b · Other expenses: SUBSCRIPTIONS & DUES

  total $4,259 · program services $1,918 · management and general $2,156 · fundraising $185

• 24c · Other expenses: ALLOCATED COSTS

  total $0 · program services $963,155 · management and general -$1,066,171 · fundraising $103,016

• 24e · All other expenses

  total $84,195 · program services $9,172 · management and general $75,023

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,461,795 · end of year $897,134

• 2 · Savings and temporary cash investments

  end of year $7,496,441

• 4 · Accounts receivable

  beginning of year $3,214,222 · end of year $3,894,188

• 9 · Prepaid expenses and deferred charges

  beginning of year $420,531 · end of year $594,972

• 10a · Land, buildings and equipment: cost or other basis

  $54,974,278

• 10b · Land, buildings and equipment: accumulated depreciation

  $31,079,242

• 10c · Land, buildings and equipment, net

  beginning of year $24,443,232 · end of year $23,895,036

• 11 · Investments: publicly traded securities

  beginning of year $14,550,604 · end of year $14,018,458

• 12 · Investments: other securities

  beginning of year $7,538,737 · end of year $12,173,073

• 14 · Intangible assets

  beginning of year $1,655,525 · end of year $1,711,226

• 15 · Other assets

  beginning of year $17,322,645 · end of year $15,509,004

• 17 · Accounts payable and accrued expenses

  beginning of year $2,303,935 · end of year $2,940,319

• 19 · Deferred revenue

  beginning of year $7,013,027 · end of year $7,981,989

• 23 · Secured mortgages and notes payable

  beginning of year $57,283,097 · end of year $56,315,436

• 25 · Other liabilities

  beginning of year $6,419,147 · end of year $5,602,109

• 27 · Net assets without donor restrictions

  beginning of year $1,994,195 · end of year $6,731,462

• 28 · Net assets with donor restrictions

  beginning of year $593,890 · end of year $618,217

The filer's explanations (Part III)

PART I, LINE 7

STAFF BONUSES WERE PAID IN DECEMBER 2024. AN OVERALL AMOUNT FOR BONUSES WAS APPROVED IN THE 2024 BUDGET BY THE COMPENSATION COMMITTEE AND BUDGET COMMITTEE. CEO AND COO DETERMINED THE AMOUNT OF THE DISCRETIONARY BONUSES TO BE PAID OUT TO STAFF.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• NAVY LEAGUE BUILDING LLC

  TO OWN, OPERATE, LEASE, SELL OR MANAGE COMMERCIAL REAL ESTATE. · DE · income $5,853,931 · assets $48,660,854

  Directly controlled by NAVY LEAGUE OF THE UNITED STATES

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• NAVY LEAGUE DEVELOPMENT CORPORATION

  C · OWN,OPERATE GARAGE AT 2300 WILSON · DE · 100% owned · share of income $421,464 · share of assets $4,216,026 · controlled entity

  Directly controlled by NAVY LEAGUE BUILDING LLC

• NAVY LEAGUE BUILDING CONDOMINIUM UNIT OWNERS ASSOCIATION

  C · MANAGE OFFICE CONDO. · VA · 95.86% owned · share of income $1,787,474 · share of assets $1,027,617 · controlled entity

  Directly controlled by NAVY LEAGUE OF THE UNITED STATES