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Posts tagged ‘Charles S Abbot’

11
Mar

Executive Compensation at the Navy-Marine Corps Relief Society

The Navy-Marine Corps Relief Society (NMCRS) is a 501 (c) (3) based in Arlington, Virginia with about 255 employees who received total compensation of $19.2 million, which equates to an average of $75,000 each. 14 individuals received more than $100,000 in compensation with the most highly compensated 11 staff listed below: Read more »

9
Mar

Where Does $100 to the Navy-Marine Corps Relief Society Go?

The Navy-Marine Corps Relief Society (NMCRS) primarily provides financial assistance (interest free loans and grants) to members (and their families) of the Naval Service although the organization also provides educational and other assistance. Established in 1904, NMCRS is based in Arlington, Virginia.

In the most recent years (2015 and 2016) the organization raised about $23 million a year and spent about $29 million – about $6 million more than they raised – which was partially offset by unrealized gains on investments and changes in ┬ápension-related charges. Consequently, NMCRS maintained a net fund balance of $96 million from year-to-year.

Given that NMCRS brings in about $23 million a year and spends about $29 million annually, it is surprising to learn that the organization only gave $2.5 million (about 11% of revenue) out in grants in 2016. ┬áSo where was the rest of the revenue spent? The Form 990 (2016) submitted to the IRS reports revenue was spent as follows: Read more »