Coast Guard Foundation meets the 20 Standards for Charity Accountability.
Coast Guard Foundation (CGF) aims to strengthen the Coast Guard community and service by being there for members and their families, where and when they need it the most. The organization reports that it focuses on programs that make a difference for Coast Guard members and families, such as education and employment opportunities. CGF prioritizes family resilience, focuses on health and wellness, and creates and celebrates communal bonds.
For the year ended December 31, 2019, Coast Guard Foundation's program expenses were:
Public awareness |
$6,460,319 |
District wide support |
$2,447,573 |
Assistance to families |
$1,353,000 |
Academy support |
$266,822 |
Total Program Expenses: |
$10,527,714 |
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Planned giving arrangements, Print advertisements (newspapers, magazines, etc.), Cause- related marketing (affinity credit cards, consumer product sales, etc.), Television
Coast Guard Foundation incurred joint costs of $400,000 for informational materials and activities that included fund raising materials. Of those costs $243,000 was allocated to program expenses, $139,000 was allocated to fund raising expenses, and $18,000 was allocated to administrative expenses.
Fundraising costs were 21% of related contributions. (Related contributions, which totaled $9,299,517, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Coast Guard Foundation's audited financial statements for the year ended December 31, 2019.
Source of Funds |
Contributions |
$6,841,412 |
Gifts in-kind |
$5,436,593 |
Special events, net |
$2,195,606 |
Investment return, net |
$1,950,327 |
Miscellaneous |
$74,616 |
Total Income |
$16,498,554 |
- Programs: 79%
- Fundraising: 15%
- Administrative: 6%
Total Income |
$16,498,554 |
Program expenses |
$10,527,714 |
Fundraising expenses |
$1,997,031 |
Administrative expenses |
$809,157 |
Other expenses |
$0 |
Total expenses: |
$13,333,902 |
Income in Excess of Expenses |
$3,164,652 |
Beginning Net Assets |
$12,927,894 |
Other Changes In Net Assets |
$0 |
Ending Net Assets |
$16,092,546 |
Total Liabilities |
$677,325 |
Total Assets |
$16,769,871 |
Note: According to CGF's audited financial statements for the year ended December 31, 2019, the organizaiton received in-kind contributions totaling $5,436,593 in the form of PSAs ($5,174,094), consumer goods to be donated to the U.S. Coast Guard ($156,743), and other ($105,756).