This page provides information regarding the financial affairs of the Class other than those concerning our Chair in Naval Heritage which is managed by the Foundation. Reports of that account are published on a sub-page, “Chair Correspondence Received” , under “Chair in Naval Heritage”. Any questions should be referred to either The Prez or to Bob Crouch who serves as our auditor.

The below report comes from our Treasurer: Don Regenhardt.

Classmates, this year's report is a little later than usual which I attribute to the Alumni Association's move into their new quarters. It was difficult to get their audited report on the funds in our NAAA checking account.

I believe Bob Crouch will report on the status of funds in our other NAAA accounts, primarily, the one associated with the Chair in Naval Heritage.

I believe the state of our Class Funds is good, and that much credit goes to Jerry Smith for his work in managing both the lunches at ANCC and the April lunch at the Academy.

September 20, 2023
Subject: Audit of Class of 1957 Accounts for Fiscal Year 2023
This report addresses the five accounts over which we have a substantial degree of control. They are our Navy Federal Credit Union (NFCU) “National” accounts, checking and saving; Washington DC Chapter accounts, checking and saving; and our checking account with the Naval Academy Alumni Association. Fiscal Year 2023 beginning and ending balances, along with the change, for each are shown in the table below. Note – several years ago, we adopted the NAAA Fiscal Year, July 1 through June 30.
ACCOUNT July 1, 2022 June 30,2023 CHANGE
National Checking $ 2,328.06 $ 1,694.15 $ (633.91)
National Saving $ 30.19 $ 30.31 $ 0.12
Wash DC Chapter Checking $ 3,110.45 $ 2,386.25 $ (724.20)
Wash DC Chapter Saving $ 97.27 $ 97.51 $0.24
NAAA&F Checking $ 15,996.50 $ 20,350.51 $ 4,354.01

Total Assets: $24,558.73
National Checking (NFCU): There were two checks written on this account during FY 23 – $484.00 to the Wash DC Chapter Checking Account to reimburse the DC Chapter for April Luncheon guest lunches at the Naval Academy Club, and $157.40 to reimburse Bill Peerenboom for ZOOM services. The remaining difference is interest of $8.00.
DC Chapter Checking (NFCU): The decrease of $724.20 is due to expenses for the annual class lunch at the Naval Academy Club with guests from both the History Department and the 22nd Company. In addition, we hired a bus to provide transportation from Gate 5 Parking at the Stadium to the Club due to concerns with parking availability in the Yard. The expected losses for the April luncheon were partially offset due to Jerry Smith’s careful financial management of the Army Navy Country Club luncheons.
National and DC Chapter NFCU Savings: Both are required by NFCU policy and show modest gains due to interest over the fiscal year.
NAAA & F Checking: The net increase in this account is the result of income from investments of $395.68 and Bob Crouch’s deposit of proceeds from the 65th Reunion of $3,958.33.
Last year’s report included our final funding of the Perimeter Site at the Navy Marine Corps Stadium and our final contribution to the 22nd Company Wardroom.
Chair in Naval Heritage Funds
Bob Crouch traditionally provides a review of these funds.

Don Regenhardt