Coast Guard Foundation
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Coast Guard Foundation meets the 20 Standards for Charity Accountability.
Stated Purpose:
"to partner with the Coast Guard to provide resources to members and families that build resilience and strengthen the entire community."
Year, State Incorporated:
1986, MA
Coast Guard Foundation (CGF) reports that it supports Coast Guard members through morale, wellness, and community building projects, as well as through education and workforce development assistance and recognition programs. The organization also reports that it provides fitness and recreation gear and provides education and workforce development assistance to members pursuing college degrees or professional certifications. CGF also has leadership development programs, diversity and inclusion initiatives, academic enrichment and athletics and club activities at the Coast Guard Academy. The organization also provides grants and scholarships for spouses and college-aged children of Coast Guard members.
For the year ended December 31, 2022, Coast Guard Foundation's program expenses were:
Academy support: $418,238
Assistance to families: $1,573,200
Public awareness: $3,525,850
District wide support: $4,722,936
Total Program Expenses: $10,240,224
Chief Executive
Susan Ludwig, President
Compensation*
$263,051
Chair of the Board
Thomas A. Allegretti
Chair's Profession / Business Affiliation
Former President and Chief Executive Officer, United Waterways Operators
Board Size
30
Paid Staff Size
24
*2022 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio, Special events, Telemarketing, Print advertisements, Corporate solicitation
Coast Guard Foundation incurred joint costs of $486,870 for informational materials and activities that included fundraising materials. Of those costs $255,810 was allocated to program expenses, $217,780 was allocated to fundraising expenses, and $13,280 was allocated to administrative expenses.
Fundraising costs were 22% of related contributions. (Related contributions, which totaled $13,584,896, 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, 2022.
Source of Funds
| Contributions of cash and other financial assets | $8,395,063 |
| In-kind contributions | $2,430,884 |
| Special events, net | $2,677,764 |
| Investment loss, net | $-2,316,290 |
| Gift fee income | $81,185 |
| Miscellaneous | $45,401 |
| Total Income | $11,314,007 |
Programs: 72% Fundraising: 21% Administrative: 7%
| Total Income | $11,314,007 |
| Total expenses: | $14,231,856 |
| Program expenses | $10,240,224 |
| Fundraising expenses | $3,053,058 |
| Administrative expenses | $938,574 |
| Other expenses | $0 |
| Income in Excess of Expenses | $-2,917,849 |
| Beginning Net Assets | $20,781,700 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $17,863,851 |
| Total Liabilities | $3,140,254 |
| Total Assets | $17,863,851 |
Note: According to CGF's 2022 audited financial statements, the organization received in-kind contributions totaling $2,430,884 in the form of air time for PSAs ($2,232,283), advertising and other services ($101,236), and consumer goods ($97,365).
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance