VIRGINIA BEACH, Va. (NNS) -- The Navy Exchange Service Command (NEXCOM) announced June 18 that its fiscal year 2013 audited financial report showed a $51.9 million contribution to Navy Morale, Welfare and Recreation (MWR).
"In addition to providing our customers with quality goods and services at a savings, NEXCOM's mission is also to support Navy quality of life programs by contributing 70 percent of our profits each year," said Rear Adm. Robert J. Bianchi, (Ret), Chief Executive Officer, NEXCOM. "This year, we gave Navy MWR $51.9 million from our 2013 sales. So, in addition to saving our customers money when they shop at the NEX, the money they spend also ultimately supports their own 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.
"Navy MWR provides world-class programs for Sailors as well as all other service members and their family members, whether stationed ashore or deployed. We are able to construct and repair many of our golf, bowling, youth, and food & beverage facilities because of the significant contribution provided by the annual NEX dividend. These Sailor-generated dollars allow us to build and operate outstanding recreation facilities throughout the Navy and thereby enhance the common thread of 'Service to the Fleet' from MWR in partnership with NEX," said Edward J. Cannon, director, Commander, Navy Installations Command, Fleet and Family Readiness.
NEXCOM operates on the retail fiscal year calendar, which in 2013 was February 2, 2013 - February 1, 2014.
For more news from Navy Exchange Service Command, visit www.navy.mil/local/nexcom/.