Naval Academy Sailing Foundation
The Naval Academy Sailing Foundation (NASF) is a 501(c)(3) charitable tax-exempt organization chartered in the State of Maryland. Its sole mission is to support the sail training program at the Naval Academy. The Foundation's trustees are selected from either active or former Fales Committee members. The Foundation seeks and manages donations of sailing yachts and equipment for the Naval Academy's sail training program. Donated boats are owned by the Foundation and chartered to the Naval Academy. When these boats are no longer needed in the sailing program, NASF then markets the boats and the proceeds are deposited into the Foundation's professionally managed investment account. The income stream from this portfolio, and from the sale of boats, funds the operation of NASF and also provides funding for various on-the-water activities for Navy's sail training program.
In addition to providing a steady flow of offshore boats for both the Varsity Offshore and OSTS programs, and building the investment account, the Foundation has contributed additional support (of which a partial list follows) to the sailing program by providing through donors, as well as from its own resources:
- Funding for the design and some of the quality control for the fleet of Navy 44s, greatly expediting their delivery
- Transportation, insurance, survey and maintenance expenses, when necessary, for newly donated boats
- Four flights of sailboards and the salary for a sailboard coach for approximately a decade
- The Vanderstar Sailing Chair is funded through the Foundation by Mr. Cornelius Vanderstar
For more information and contact information, please go to navalacademysailingfoundation.org.