U.S. Naval Academy Fuundation manages an endowment fund of the U.S. Naval Academy which is based in Annapolis, Maryland. The endowment supports athletic programs at the Naval Academy through scholarships, grants and awards. In 1999, the foundation and the Naval Academy Endowment Trust merged to form the sole fundraising entity for the Naval Academy, now known as the United States Naval Academy Foundation. The foundation is focused to support, promote and advance the mission of the Naval Academy by working in conjunction with academy leadership to identify strategic and institutional priorities and by raising, managing and disbursing private gift funds that provide a margin of excellence in support of the nation's premier leadership institution. The assets of the foundation are managed and administered by the board of directors.U.S. Naval Academy FoundationAos investment portfolio is valued at $204.75 million, with investments in equity, private equity, real estate, real assets, natural resources, infrastructure, hedge funds, metal & mining, and cash.