NEXCOM Gives $45.9 Million to MWR
The Navy Exchange Service Command (NEXCOM) released its fiscal year 2012 audited financial report which showed a $45.9 million contribution to Navy Morale, Welfare and Recreation (MWR).
“NEXCOM’s mission is to provide customers with quality goods and services at a savings and to provide quality of life program support to Navy MWR,” said Rear Adm. Robert J. Bianchi, (Ret), Chief Executive Officer, NEXCOM. “Our contribution of $45.9 million represents 70 percent of our 2012 NEX profits. So, not only do customers save an average of 21 percent, plus sales tax, when they shop at their 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.
“The NEX contributions to MWR have been tremendous over the years and are what enable our program to continue to provide some of the best services to the Fleet, Fighter, and Family,” said Ed Cannon, Director of Fleet and Family Readiness at Commander, Navy Installations Command. “This partnership has been very fruitful and we continue to look forward to giving NEX contributions back to the Sailor in the future.”
NEXCOM operates on the retail fiscal year calendar, which in 2012 was January 29, 2012 – February 2, 2013.