Fellow Members of the Naval Institute,
In accordance with the Constitution & By-Laws, we are pleased to communicate this summarized annual report on the State of the Naval Institute in its 132nd year of service. You will find the full 2005 Annual Report, together with the 2005 Financial Statement, on the USNI Web site.
Last year we reported that Year 2004 was a year of unprecedented change at the Naval Institute. That pace of change continued in Year 2005. We saw significant staff turnover (59% for the entire year). We also continued to wrestle with major information technology problems: an inaccurate membership database, missing business rules, and a fragmented, disorganized information technology network.