Friends of Naval Academy Music
Public records show a registered, tax-exempt organization in good standing.
What it says it does
FRIENDS OF NAVAL ACADEMY MUSIC, INC (FONAM) IS A 501 (C) 3 NON-PROFIT ORGANIZATION ESTABLISHED TO PROVIDE PRIVATE FINANCIAL SUPPORT FOR NAVAL ACADEMY MUSICAL ACTIVITIES. OUR INITIAL GOAL IS TO RAISE $10 MILLION IN OPERATING FUNDS WHICH WOULD GUARANTEE THE SUSTAINABILITY OF THE MUSIC PROGRAM AT USNA FOR YEARS TO COME. FONAM FUNDS ARE 100% ALLOCATED TOWARDS MUSICAL ACTIVITIES, WITH NO RESTRICTIONS IN TIMES OF DEFENSE BUDGETARY CUTS OR SEQUESTRATION, MAKING THEM MORE VITAL NOW THAN EVER. FUNDS RAISED ARE ALLOCATED AMONG BUILDING STRATEGIC AND EMERGENCY RESERVES AND IMMEDIATE PROGRAM FUNDING.
- Income
- $184,324
- Spending
- $81,031
- Spent on programs
- 78%
- Reserves
- Over 10 years of spending
- Largest source of income
- donations and private grants, 74%
- Employees
- 0
- Volunteers
- 0
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 90 out of 100. Higher than 73% of charities in its peer group (arts and culture, under $250k).
Reserves
35 of 35Spendable reserves would cover more than ten years of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
15 of 15Income exceeded spending by 56% of income.
Income trend
5 of 15Income fell 21% on the year before.
Spending floor
15 of 1578% of spending went to programs and raising each dollar of donations cost 5 cents.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 81 out of 100. Higher than 73% of charities in its peer group (arts and culture, under $250k).
Independent board
25 of 2515 of 15 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (2)
- $63,336 spent. FONAM PURCHASED AND DONATED 10 EUPHONIUMS IN FEBRUARY 2025 TOTALING $26,878, WHICH WERE DELIVERED WITHIN THREE WEEKS AND READY FOR THE PLEBE CLASS OF THE DRUM & BUGLE CORPS TO PLAY DURING PLEBE SUMMER 2025. THE BOARD MADE A DONATION TO USNA MUSIC OF $33,500 IN DECEMBER 2025. THESE DONATIONS CONTRIBUTED TO THE MARGIN OF EXCELLENCE, WHICH ENABLED THE MUSIC PROGRAM AT THE UNITED STATES NAVAL ACADEMY TO CONTINUE TO PURSUE ITS MISSION OF TRAINING FUTURE NAVAL AND MARINE CORPS OFFICERS FOR CAREERS IN THE FLEET.
- THE ORGANIZATION INFUSED MONEY INTO ITS INVESTMENT AND ENDOWMENT ACCOUNTS AND WATCHED THEM GROW DURING 2025. THE VALUE ROSE FROM $708,000 AT THE BEGINNING OF 2025 TO OVER $831,000 BY THE END OF 2025. OF THIS GROWTH, $53,756 CAME FROM TRANSFERS INTO THE INVESTMENT ACCOUNTS DURING 2025. THE INVESTMENTS, WHICH ARE MANAGED BY OUR DIRECTOR OF INVESTMENTS IN CONNECTION WITH THE INVESTMENT COMMITTEE, SERVE LONG- AND SHORT-TERM PURPOSES OF THE ORGANIZATION. A SMALL PORTION OF OUR INVESTMENTS IS HELD IN A MONEY MARKET FUND, WHERE ALL INCOME IS ACCUMULATED DURING THE YEAR. THIS FUND IS AVAILABLE TO DISTRIBUTE ANNUALLY TO THE MUSIC DEPARTMENT AT THE UNITED STATES NAVAL ACADEMY TO SUPPORT ITS ONGOING MISSION AND OPERATIONS. APPROXIMATELY HALF OF THE INVESTMENTS ARE HELD IN A STRATEGIC RESERVE FUND INTENDED TO GROW OVER THE LONG TERM. THE REMAINING INVESTMENTS ARE HELD IN ENDOWMENT FUNDS, WHICH PURPOSE IS TO GROW AND BE USED TO SUPPORT THE MUSICAL ACTIVITIES DEPARTMENT BY THEIR INCOME STREAM.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since December 2014.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.