The Navy Exchange Service Command (NEXCOM) announced June 25 that its fiscal year 2014 audited financial report showed a $46.6 million contribution to Navy Morale, Welfare and Recreation (MWR).

"NEXCOM's mission is to provide our customers with quality goods and services at a savings and to support Navy quality of life programs," said retired Rear Adm. Robert J. Bianchi, chief executive officer, NEXCOM. "Each year, we contribute 70 percent of our profits to MWR to accomplish that mission. For 2014, we gave Navy MWR $46.6 million from our sales. Shopping at the NEX not only saves our customers money, it also contributes to their quality of life."

Navy MWR uses the dividends from the NEX in a variety of ways. Installations receive part of the funds for specific installation level MWR efforts. The remaining funds are used for MWR capital projects to improve facilities.

"Our MWR effort relies on the dividend we get from NEXCOM to continue to offer a quality recreation experience for Sailors and their families. These funds are very important in helping us to upgrade facilities and equipment, as well as support the diverse recreation needs of the military community that we serve," said Lorraine Seidel, recreation program manager for Navy Installations Command.

NEXCOM operates on the retail fiscal year calendar, which in 2014 was February 1, 2014 - January 31, 2015.

For more news from Navy Exchange Service Command, visit www.navy.mil/.