2025-05-08T11:35:24-05:00 2024-06-30 881478669 CBIZ ADVISORS LLC 1899 L STREET NW 850 WASHINGTON DC 20036 990 2023-07-01 221905062 MARINE CORPS SCHOLARSHIP FOUNDATION INC MARI 7035490060 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 EDWARD PROBERT JR PRESIDENT & CHIEF EXECUTIVE OFFICER 7035490060 2025-05-07 1 0 FRANK H SMITH P00639053 2022274000 2025-05-07 2023 2025-03-06 01:10:19Z EDWARD PROBERT JR 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 45448994 0 X WWW.MCSF.ORG X 1962 NJ TO PROVIDE SCHOLARSHIPS TO THE CHILDREN OF MARINES ATTENDING POST-HIGH SCHOOL, UNDERGRADUATE, AND CAREER TECHNICAL EDUCATION PROGRAMS. 29 28 39 307 0 0 18153247 18614019 0 0 756664 3398624 3463890 -759754 22373801 21252889 10468562 11578723 0 0 4091307 4536843 466725 459975 4559558 4151587 4426476 19178181 21002017 3195620 250872 160956122 176766473 13631574 15469356 147324548 161297117 X SEE SCHEDULE OTHE MARINE CORPS SCHOLARSHIP FOUNDATION IS THE NATION'S OLDEST AND LARGEST PROVIDER OF NEED-BASED SCHOLARSHIPS TO MILITARY CHILDREN. FOUNDED IN 1962, THE MARINE CORPS SCHOLARSHIP FOUNDATION PROVIDES ACCESS TO EDUCATION FOR THE CHILDREN OF MARINES, NAVY CORPSMEN, AND RELIGIOUS PROGRAM SPECIALISTS ATTENDING POST-HIGH SCHOOL, UNDERGRADUATE, AND CAREER TECHNICAL EDUCATION PROGRAMS. THROUGHOUT OUR HISTORY, WE HAVE AWARDED NEARLY 60,000 SCHOLARSHIPS VALUED AT MORE THAN $220 MILLION. EVERY QUALIFIED STUDENT WHO HAS APPLIED HAS RECEIVED AID. 0 0 14062951 11578723 FOR THE 2024-2025 ACADEMIC YEAR, THE MARINE CORPS SCHOLARSHIP FOUNDATION AWARDED $11.7 MILLION TO 2,882 CHILDREN OF MARINES AND NAVY CORPSMEN IN ALL 50 STATES AND OVERSEAS.THE QUALITY OF THE STUDENTS WE INVEST IN, CHILDREN RAISED BY HONORABLE MARINE PARENTS, IS HIGHLIGHTED IN THEIR ACADEMIC ACCOMPLISHMENTS. THEY GRADUATE AT A RATE OF 91% (COMPARED TO 54% NATIONALLY), DEMONSTRATING THAT OUR INVESTMENT IN THEIR EDUCATION PAYS OFF. WITH 66% OF OUR RECIPIENTS REPORTING LITTLE TO NO DEBT AT GRADUATION (COMPARED TO 32% NATIONALLY), WE ARE CONFIDENT THAT OUR SCHOLARSHIP SUPPORT MAKES A SIGNIFICANT IMPACT IN THEIR LIVES AFTER GRADUATION. 14062951 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 1 0 1 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 28 0 1 39 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 29 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA FL GA HI IL KS KY MA MD MI MN MS NC NH NJ NM NY OK OR PA RI SC TN VA WI WV X X SARAH TONIZZO 7035490060 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 EDWARD PROBERT PRESIDENT AND CEO 37.50 1.00 X X 332236 0 20628 SARAH TONIZZO CHIEF FINANCIAL OFFICER 37.50 1.00 X 215462 0 22148 HAROLD VAN OPDORP CHIEF OPERATING OFFICER 37.50 1.00 X 213923 0 11656 COURTNEY BALSON CHIEF ADVANCEMENT OFFICER 37.50 1.00 X 177368 0 24118 JEANNA ADAMS CHIEF SCHOLARSHIP OFFICER 37.50 1.00 X 180196 0 18638 KEITH H MOORE DIRECTOR OF DEVELOPMENT 37.50 X 142604 0 16392 RENEE K LAFLAM DIRECTOR OF NATIONAL EVENTS 37.50 X 133384 0 15716 DANA M MILLS DIRECTOR OF COMMUNICATIONS 37.50 1.00 X 126550 0 15511 ROBERT B NELLER CHAIR 1.00 1.00 X 0 0 0 ERIC J CANDELORI VICE CHAIR 1.00 1.00 X 0 0 0 RICHARD D STEPHENS TREASURER 1.00 1.00 X X 0 0 0 STEVEN M POST GENERAL COUNSEL 1.00 1.00 X X 0 0 0 MICHEAL BARRETT DIRECTOR 1.00 X 0 0 0 CHARLES F BOLDEN JR DIRECTOR - UNTIL 10/2023 1.00 X 0 0 0 JOSEPH F BOULOS DIRECTOR 1.00 X 0 0 0 CASSIE BROEMMER DIRECTOR 1.00 X 0 0 0 MIGUEL EATON DIRECTOR 1.00 1.00 X 0 0 0 KAREEM EL DIRECTOR 1.00 X 0 0 0 GEORGE J FLYNN DIRECTOR - UNTIL 10/2023 1.00 1.00 X 0 0 0 STEVE FUSCO DIRECTOR 1.00 X 0 0 0 MATTHEW GANTZ DIRECTOR 1.00 X 0 0 0 JENNIFER HAZELTON DIRECTOR 1.00 X 0 0 0 DAN HENDERSON DIRECTOR 1.00 X 0 0 0 KEITH M JONES DIRECTOR 1.00 X 0 0 0 ROBERT E JOYCE JR DIRECTOR 1.00 1.00 X 0 0 0 PAUL KENNEDY DIRECTOR - UNTIL 10/2023 1.00 X 0 0 0 MARGARET G KIBBEN DIRECTOR 1.00 X 0 0 0 SCOTT LARUE DIRECTOR 1.00 X 0 0 0 FRANK D MARTELL DIRECTOR 1.00 X 0 0 0 PETER MCCALLUM DIRECTOR 1.00 X 0 0 0 DAN NELSON DIRECTOR 1.00 X 0 0 0 PETER PACE DIRECTOR 1.00 X 0 0 0 MELISSA D PALMISCIANO DIRECTOR 1.00 1.00 X 0 0 0 GREG PARSONS DIRECTOR 1.00 X 0 0 0 PAUL POHL DIRECTOR 1.00 X 0 0 0 LORI REYNOLDS DIRECTOR 1.00 X 0 0 0 ROBERT W SCHRODER DIRECTOR - UNTIL 10/2023 1.00 1.00 X 0 0 0 HARVEY SEEGERS DIRECTOR 1.00 X 0 0 0 HENRY STOEVER DIRECTOR 1.00 X 0 0 0 CATHERINE THOMAS DIRECTOR 1.00 X 0 0 0 1521723 0 144807 12 0 1 0 PEBBLE BEACH RESORTS 1700 17 MILE DR PEBBLE BEACH CA 93953 EVENT SPACE SERVICES 685731 CATAPULT COLLECTIVE LLC 4136 DEL REY AVENUE 601 MARINA DEL REY CA 90292 CONTRACTED COMMUNIC. SERVICES 632904 DATOCWITTEN GROUP INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 541119 DATA AXLE PO BOX 959819 ST LOUIS MO 63195 DIRECT & DIGITAL MARKETING PROGRAM 352553 SALAMANDER WASHINGTON 1330 MARYLAND AVENUE SW WASHINGTON DC 20024 EVENT SPACE SERVICES 230378 16 14348 8074593 10525078 221632 18614019 5251847 5251847 20377077 22230300 -1853223 -1853223 -1853223 1181671 8074593 1958338 -776667 -776667 24315 7467 16848 16848 MISCELLANEOUS INCOME 900099 65 65 65 21252889 0 0 2638870 11562497 11562497 16226 16226 858931 339042 512530 7359 3093257 766407 808889 1517961 113869 26930 27021 59918 259526 75352 74896 109278 211260 58985 69515 82760 19150 19150 64958 24055 3896 37007 459975 459975 440276 440276 1106150 333594 104164 668392 738945 236735 1425 500785 380776 50733 38817 291226 223688 65598 38782 119308 199849 57469 63241 79139 272135 115458 6959 149718 424442 310429 31327 82686 22605 6494 7234 8877 57860 16548 15854 25458 OTHER FUNDRAISING EXP. 336494 336494 BAD DEBT EXPENSE 115000 115000 STATE REGISTRATIONS 16700 276 368 16056 OTHER EXPENSE 7448 123 164 7161 21002017 14062951 2379508 4559558 13992363 960053 7849794 21504503 9787237 7337100 338857 0 701375 728057 1064172 1042916 24256 21256 126506526 144652661 1755714 1562843 160956122 176766473 668026 648320 9563105 10618772 573836 1042385 2826607 3159879 13631574 15469356 X 36394314 42238009 110930234 119059108 147324548 161297117 160956122 176766473 X 250872 14209781 -488084 X 0 1 X 1 0 X 18010379 18003057 26582491 18153247 18614019 99363193 18010379 18003057 26582491 18153247 18614019 99363193 12174841 87188352 2543868 2468567 2694084 4722866 5251847 17681232 707019 2377211 766007 3463376 16848 7330461 11851 514 65 12430 124387316 0.70090 0.67810 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 11,851. 2022 AMOUNT: $ 514. 2023 AMOUNT: $ 65. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 81910374 2504950 10025980 2751234 430580 91259490 69255318 8754691 7222235 2891555 430315 81910374 77617042 4862432 -10092365 2700031 431760 69255318 67499548 1033510 11755040 2278601 392455 77617042 64633001 2825449 2669798 2257641 371059 67499548 0.79224 0.20776 0 0 328791 328791 0 735381 714125 21256 21256 OBLIGATIONS UNDER CHARITABLE TRUSTS AND ANNUITIES 1739730 LEASE LIABILITY - OPERATING LEASE 1408637 DUE TO RELATED ORGANIZATION 11512 3159879 X PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIPS TO THE CHILDREN OF MARINES, WHO APPLY AND QUALIFY ACCORDING TO THE REQUIREMENTS AS SET BY THE FOUNDATION'S POLICY. PART X, LINE 2: THE ORGANIZATION EVALUATED ITS UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2024 AND 2023, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. 1 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 11226 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTMAKING 5000 0 0 0 0 0 0 16226 0 16226 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 1 3726 WIRE SCHOLARSHIPS EAST ASIA AND THE PACIFIC 1 7500 CHECK SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 1 5000 CHECK 0 0 0 0 0 0 PART I, LINE 2: AT THE TIME OF APPLICATION, STUDENTS PROVIDE DOCUMENTATION TO VERIFY THEIR ELIGIBILITY WITH REGARDS TO FINANCIAL NEED, ACADEMIC ACHIEVEMENT, AND PARENT'S HONORABLE MILITARY SERVICE. THEN BEFORE AWARDS ARE MADE, A PROPRIETARY POINT SYSTEM IS USED TO DETERMINE THE AWARD AMOUNT FOR EACH ELIGIBLE STUDENT. EACH STUDENT AND THE EDUCATIONAL INSTITUTION WHERE THE STUDENT IS ENROLLED AGREES THAT THE PAYMENT, OR THE UNUSED PORTION OF THE PAYMENT, MUST BE REFUNDED TO THE SCHOLARSHIP FOUNDATION IF 1) THE STUDENT TRANSFERS, WITHDRAWS OR OTHERWISE LEAVES SCHOOL, 2) THE STUDENT DOES NOT REMAIN IN SATISFACTORY ACADEMIC STANDING AS DEFINED BY THE SCHOOL, 3) THE STUDENT'S BEHAVIOR IS NOT CONSISTENT WITH THE SCHOOL'S STUDENT CONDUCT CODE, OR 4) THE STUDENT IS FOUND GUILTY OF A VIOLATION OF ANY CIVIL CODE. PART I, LINE 3: IN ACCORDANCE WITH IRS INSTRUCTIONS, ALL AMOUNTS REPORTED ON PART I AND PART III OF SCHEDULE F ARE REPORTED USING THE ACCRUAL BASIS OF ACCOUNTING, THE SAME METHOD OF ACCOUNTING USED IN THE FINANCIAL STATEMENTS. X X X X X 1 DATOCWITTEN INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 0 6219340 222475 5996865 PATRICIA J HURLEY & ASSOCIATES 205 WEST WACKER DRIVE SUITE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 0 1861045 45000 1816045 DATA AXLE INC 120 EAST 1ST STREET PAPOLLION NE 68046 DIRECT AND DIGITAL MARKETING PROGRAM 0 892370 192500 699870 8972755 459975 8512780 AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA MD MA MI ME MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WI WV WY CHICAGO DINNER 1861045 1809420 51625 548 49399 2275 41847 PEBBLE BEACH GOLF 1190146 1040621 149525 35941 169096 21545 409404 19 6205073 5224552 980521 106246 11855 542871 13109 554202 9256264 8074593 1181671 142735 11855 761366 36929 1005453 1958338 -776667 24315 1949 5518 1 1.00000 24315 1949 5518 7467 16848 FL IN MA NJ NC VA MO PA 1 0 1 0 0.00000 1.00000 SARAH TONIZZO 909 NORTH WASHINGTON STREET SUITE 4 ALEXANDRIA VA 22314 0 CAROLINA CLASSIC - MAJGEN THOMAS BRAATEN 0 CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. X 0 SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: TAMPA GOLF - TONY GAIN AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: SARASOTA GOLF - MIKE TUTCHER AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: INDIANAPOLIS GOLF - TY MENSCH AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: BOSTON GOLF - DICK MURPHY AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: CORPORAL DONALD M. MARLER GOLF - MIKE MOLNAR AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: JERSEY SHORE GOLF - BOB VALVANO, MEGAN HEERWAGEN AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: CAPITAL AREA GOLF - SCOTT "BOY" ARNOLD AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: SERGEANT DOUGHERTY USMC MEMORIAL SHOOT - JIM LATTA AMOUNT OF COMPENSATION AS GAMING MANAGER - 0 DESCRIPTION OF SERVICES PROVIDED - CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS. POSITION WITH THE ORGANIZATION - INDEPENDENT CONTRACTOR 1 SCHOLARSHIP AWARDS 2763 11562497 PART I, LINE 2: AT THE TIME OF APPLICATION, STUDENTS PROVIDE DOCUMENTATION TO VERIFY THEIR ELIGIBILITY WITH REGARDS TO FINANCIAL NEED, ACADEMIC ACHIEVEMENT, AND PARENT'S HONORABLE MILITARY SERVICE. THEN BEFORE AWARDS ARE MADE, A PROPRIETARY POINT SYSTEM IS USED TO DETERMINE THE AWARD AMOUNT FOR EACH ELIGIBLE STUDENT. EACH STUDENT AND THE EDUCATIONAL INSTITUTION WHERE THE STUDENT IS ENROLLED AGREES THAT THE PAYMENT, OR THE UNUSED PORTION OF THE PAYMENT, MUST BE REFUNDED TO THE SCHOLARSHIP FOUNDATION IF 1) THE STUDENT TRANSFERS, WITHDRAWS OR OTHERWISE LEAVES SCHOOL, 2) THE STUDENT DOES NOT REMAIN IN SATISFACTORY ACADEMIC STANDING AS DEFINED BY THE SCHOOL, 3) THE STUDENT'S BEHAVIOR IS NOT CONSISTENT WITH THE SCHOOL'S STUDENT CONDUCT CODE, OR 4) THE STUDENT IS FOUND GUILTY OF A VIOLATION OF ANY CIVIL CODE. X X X X 0 0 0 1 0 0 0 1 0 EDWARD PROBERT PRESIDENT AND CEO 280296 0 51940 0 0 0 16627 0 4001 0 352864 0 0 0 SARAH TONIZZO CHIEF FINANCIAL OFFICER 215462 0 0 0 0 0 6863 0 15285 0 237610 0 0 0 HAROLD VAN OPDORP CHIEF OPERATING OFFICER 213923 0 0 0 0 0 10696 0 960 0 225579 0 0 0 COURTNEY BALSON CHIEF ADVANCEMENT OFFICER 177368 0 0 0 0 0 9087 0 15031 0 201486 0 0 0 JEANNA ADAMS CHIEF SCHOLARSHIP OFFICER 175196 0 5000 0 0 0 9087 0 9551 0 198834 0 0 0 KEITH H MOORE DIRECTOR OF DEVELOPMENT 142604 0 0 0 0 0 7186 0 9206 0 158996 0 0 0 PART I, LINE 5 THE BONUS AMOUNT OF $51,940 PAID TO EDWARD PROBERT, PRESIDENT, DURING THE YEAR ENDED DECEMBER 31, 2023 IS BASED ON GOALS DETERMINED BY THE BOARD, INCLUDING THE FINANCIAL PERFORMANCE OF THE ORGANIZATION. PART I, LINE 7 DURING THE YEAR ENDED DECEMBER 31, 2023, JEANNA ADAMS, CHIEF SCHOLARSHIP OFFICER, RECEIVED A DISCRETIONARY BONUS PAYMENT IN THE AMOUNT OF $5,000. X 16 195479 FMV X AUCTION ITEMS 11 26153 FMV 0 1 1 PART I, COLUMN (B): THE TOTAL REPRESENTED IN PART I, COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS THAT WERE RECEIVED FOR THE YEAR ENDED JUNE 30, 2024. PART I, LINE 32B: STOCK CONTRIBUTIONS THROUGH EVENTS THAT USE THIRD PARTY SOLICITORS, AND INVESTMENT MANAGER TO SELL STOCK CONTRIBUTIONS UPON RECEIPT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND APPROVED BY THE MARINE CORPS SCHOLARSHIP FOUNDATION MANAGEMENT TEAM, THE FOUNDATION'S BOARD OF DIRECTORS AND GENERAL COUNSEL BEFORE FILING WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C THE MARINE CORPS SCHOLARSHIP FOUNDATION'S BOARD MEMBERS AND STAFF ARE REQUIRED TO READ AND ACKNOWLEDGE COMPLIANCE WITH THE FOUNDATION'S CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. BOARD MEMBERS MUST LIST ANY POTENTIAL CONFLICTS OF INTEREST AT SUCH TIME. THERE ARE PERIODIC REVIEWS TO ENSURE COMPLIANCE. IF ANY MATTER COMES BEFORE THE BOARD IN SUCH A WAY AS TO GIVE RISE TO A CONFLICT OF INTEREST, THE INTERESTED BOARD MEMBER OR OFFICER, IF ATTENDING THE MEETING, SHALL MAKE KNOWN THE POTENTIAL CONFLICT, WHETHER OR NOT DISCLOSED ON HIS OR HER CONFLICT OF INTEREST FORM. AFTER ANSWERING ANY QUESTIONS THAT MIGHT BE ASKED OF SUCH OFFICER OR DIRECTOR, HE OR SHE SHALL WITHDRAW FROM THE MEETING FOR SO LONG AS THE MATTER SHALL CONTINUE UNDER DISCUSSION. SHOULD THE MATTER BE BROUGHT TO A VOTE, NEITHER THE INTERESTED DIRECTOR NOR ANY OTHER DIRECTOR HAVING A PECUNIARY BENEFIT TRANSACTION WITH THE FOUNDATION SHALL VOTE ON THE ISSUE. A TWO-THIRDS (66 2/3%) VOTE OF THE ENTIRE BOARD IS REQUIRED TO AUTHORIZE ANY TRANSACTION OR OTHER MATTER IN WHICH AN OFFICER OR DIRECTOR HAS A POTENTIAL CONFLICT OF INTEREST. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 THE MARINE CORPS SCHOLARSHIP FOUNDATION USES AN OUTSIDE COMPENSATION CONSULTANT TO CONDUCT A COMPENSATION STUDY OF COMPARABLE NONPROFIT ORGANIZATIONS NATIONALLY AND IN THE WASHINGTON DC AREA. THE COMPENSATION STUDY EXAMINES THE ROLES OF PRESIDENT AND CEO AND THE EXECUTIVE MANAGEMENT TEAM. THE BOARD'S COMPENSATION COMMITTEE REVIEWS AND DISCUSSES THE PRESIDENT AND CEO'S PERFORMANCE AGAINST THE PREDETERMINED GOALS FOR THE PERIOD IN QUESTION, NORMALLY THE FISCAL YEAR. BASED ON THIS DISCUSSION AND THE RESULTS OF THE COMPENSATION STUDY, THE COMPENSATION COMMITTEE PREPARES A FINAL COMPENSATION PACKAGE AND PRESENTS TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THIS PROCESS WAS LAST TAKEN IN JUNE 2024/FY 2024. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION PUBLISHES AN ANNUAL REPORT THAT INCLUDES FINANCIAL DATA. THE ANNUAL REPORT, AS WELL AS AUDITED FINANCIAL STATEMENTS, ARE POSTED TO THE WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST STATEMENT ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PART VI, SECTION A, LINE 1A: THE BOARD OF DIRECTORS, BY RESOLUTION ADOPTED BY A MAJORITY OF THE ENTIRE BOARD, SHALL APPOINT FROM AMONG THE DIRECTORS AN EXECUTIVE COMMITTEE, AND FROM AMONG THE DIRECTORS AND, IN THE BOARD'S SOLE DISCRETION, PERSONS WHO ARE NOT DIRECTORS, A CORPORATE GOVERNANCE COMMITTEE (WHICH SHALL INCLUDE NOMINATIONS AMONG ITS FUNCTIONS), A SCHOLARSHIP COMMITTEE, A DEVELOPMENT COMMITTEE, A FINANCE AND INVESTMENT COMMITTEE, A COMPENSATION COMMITTEE, AND AN AUDIT COMMITTEE. DIRECTORS SHALL COMPRISE A MAJORITY OF ANY SUCH STANDING COMMITTEE TO WHICH PERSONS WHO ARE NOT DIRECTORS MAY BE APPOINTED. THE BOARD, IN ITS SOLE DISCRETION, MAY ALSO APPOINT FROM AMONG THE DIRECTORS AND PERSONS WHO ARE NOT DIRECTORS ONE OR MORE OTHER COMMITTEES, EACH OF WHICH SHALL HAVE ONE OR MORE COMMITTEE MEMBERS INCLUDING AT LEAST ONE DIRECTOR. THE NUMBER OF DIRECTORS TO BE APPOINTED TO THE EXECUTIVE COMMITTEE SHALL NOT EXCEED TEN AND SHALL INCLUDE THE CHAIRMAN, THE VICE CHAIRMAN OR, IF THERE IS MORE THAN ONE, THE VICE CHAIRMAN DESIGNATED TO SUCCEED THE CHAIRMAN IN HIS OR HER ABSENCE, THE PRESIDENT, THE CHAIR OF EACH OF THE OTHER STANDING COMMITTEES, THE TREASURER, AND THE GENERAL COUNSEL. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE FULL AUTHORITY OF THE BOARD OF DIRECTORS IN THE MANAGEMENT OF THE CORPORATION. ALL OTHER COMMITTEES, TO THE EXTENT PROVIDED IN THEIR RESPECTIVE ENABLING RESOLUTIONS AND NOT RESTRICTED BY LAW, SHALL HAVE AND EXERCISE SUCH AUTHORITY AS THE BOARD OF DIRECTORS SHALL PRESCRIBE IN THE MANAGEMENT OF THE CORPORATION. THE DESIGNATION OF ANY COMMITTEE, WHETHER UNDER THESE BYLAWS OR BY RESOLUTION ADOPTED BY THE BOARD, AND THE DELEGATION THERETO OF AUTHORITY MARINE CORPS SCHOLARSHIP FOUNDATION, SHALL NOT OPERATE TO RELIEVE THE BOARD OF DIRECTORS, OR ANY INDIVIDUAL DIRECTOR, OF ANY RESPONSIBILITY IMPOSED ON IT, HIM, OR HER BY LAW. FORM 990, PART XI, LINE 9: CHANGE IN VALUES OF OBLIGATIONS UNDER CHARITABLE TRUSTS -488,084. BROWN HUDNER NAVY SCHOLARSHIP FOUNDATION 9900 N WASHINGTON STREET SUITE 400 ALEXANDRIA VA 22314 874808169 PROVIDING SCHOLARSHIPS VA 501(C)(3) LINE 12A, I MARINE CORPS SCHOLARSHIP FOUNDATION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 BROWN HUDNER NAVY SCHOLARSHIP FOUNDATION Q 73477 BOOK VALUE