2024-05-13T09:52:36-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2022-07-01 221905062 MARINE CORPS SCHOLARSHIP FOUNDATION INC MARI 7035490060 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 EDWARD PROBERT JR PRESIDENT & CHIEF EXECUTIVE OFFICER 7035490060 2024-05-09 1 EDWARD PROBERT JR XXX-XX-XXXX 0 ROBERT WILLIAMS P01345960 5712279500 2024-05-09 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z EDWARD PROBERT JR 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 59008442 0 X WWW.MCSF.ORG X 1962 NJ TO PROVIDE SCHOLARSHIPS TO THE CHILDREN OF MARINES & NAVY CORPSMEN ATTENDING POST-HIGH SCHOOL, UNDERGRADUATE, AND CAREER TECHNICAL EDUCATION PROGRAMS 28 27 41 294 0 0 26582491 18153247 0 0 10051527 756664 777858 3463890 37411876 22373801 9788202 10468562 0 0 3327199 4091307 537865 466725 4456462 3591763 4151587 17245029 19178181 20166847 3195620 143461620 160956122 10517290 13631574 132944330 147324548 X SEE SCHEDULE O.THE 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, NAVY CHAPLAINS, AND RELIGIOUS PROGRAM SPECIALISTS ATTENDING POST-HIGH SCHOOL, UNDERGRADUATE, AND CAREER TECHNICAL EDUCATION PROGRAMS. THROUGHOUT OUR HISTORY, WE HAVE AWARDED OVER 50,000 SCHOLARSHIPS VALUED AT MORE THAN $200 MILLION. EVERY QUALIFIED STUDENT WHO HAS APPLIED HAS RECEIVED AID. 0 0 12745411 10468562 SEE SCHEDULE OFOR THE 2023-2024 ACADEMIC YEAR, THE MARINE CORPS SCHOLARSHIP FOUNDATION AWARDED $10.8 MILLION TO 2,760 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 AND NAVY CORPSMAN 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 67% OF OUR RECIPIENTS REPORTING LITTLE TO NO DEBT AT GRADUATION (COMPARED TO 33% NATIONALLY), WE ARE CONFIDENT THAT OUR SCHOLARSHIP SUPPORT MAKES A SIGNIFICANT IMPACT IN THEIR LIVES AFTER GRADUATION. 12745411 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 33 0 41 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR AZ AK CA CT FL GA HI IL KS KY LA ME MO MA MD MI MN MS NC NH NJ NM NY NV OH OK OR PA RI SC TN UT VA WI WV DC CO ND WA X X SARAH TONIZZO 7035490060 909 N WASHINGTON ST STE 400 ALEXANDRIA VA 223141555 EDWARD PROBERT PRESIDENT AND CEO 37.50 1.00 X X 314308 0 17102 ROBERT B NELLER CHAIR 1.00 1.00 X X 0 0 0 ERIC J CANDELORI VICE CHAIR 1.00 1.00 X 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 CHARLES F BOLDEN JR DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH F BOULOS DIRECTOR 1.00 0.00 X 0 0 0 MIGUEL EATON DIRECTOR 1.00 1.00 X 0 0 0 GEORGE J FLYNN DIRECTOR 1.00 1.00 X 0 0 0 STEVE FUSCO DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER HAZELTON DIRECTOR 1.00 0.00 X 0 0 0 DAN HENDERSON DIRECTOR 1.00 0.00 X 0 0 0 KEITH M JONES DIRECTOR 1.00 0.00 X 0 0 0 ROBERT E JOYCE JR DIRECTOR 1.00 1.00 X 0 0 0 PAUL KENNEDY DIRECTOR 1.00 0.00 X 0 0 0 MARGARET G KIBBEN DIRECTOR 1.00 0.00 X 0 0 0 SCOTT LARUE DIRECOTR 1.00 0.00 X 0 0 0 FRANK D MARTELL DIRECTOR 1.00 0.00 X 0 0 0 PETER MCCALLUM DIRECTOR 1.00 0.00 X 0 0 0 DAN NELSON DIRECTOR 1.00 0.00 X 0 0 0 MELISSA D PALMISCIANO DIRECTOR 1.00 1.00 X 0 0 0 GREG PARSONS DIRECTOR 1.00 0.00 X 0 0 0 PAUL POHL DIRECTOR 1.00 0.00 X 0 0 0 ROBERT W SCHRODER DIRECTOR 1.00 1.00 X 0 0 0 HARVEY SEEGERS DIRECTOR 1.00 0.00 X 0 0 0 HENRY STOEVER DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE THOMAS DIRECTOR 1.00 0.00 X 0 0 0 TRACY GARRETT DIRECTOR UNTIL OCT 2022 1.00 1.00 X 0 0 0 MATTHEW GANTZ DIRECTOR UNTIL OCT 2022 1.00 0.00 X 0 0 0 FRANK J GAUDIO DIRECTOR UNTIL OCT 2022 1.00 0.00 X 0 0 0 SUSAN E MORRISON DIRECTOR UNTIL JUNE 2023 1.00 0.00 X 0 0 0 MICHAEL G MULLEN DIRECTOR UNTIL JAN 2023 1.00 0.00 X 0 0 0 SARAH TONIZZO CHIEF FINANCIAL OFFICER 37.50 1.00 X 140042 0 7408 HAROLD VAN OPDORP CHIEF OPERATING OFFICER 37.50 1.00 X 198985 0 5120 COURTNEY BALSON CHIEF ADVANCEMENT OFFICER 37.50 0.00 X 163288 0 12512 JEANNA ADAMS CHIEF SCHOLARSHIP OFFICER 37.50 1.00 X 153597 0 11878 JEANINE CAVICCHIA DIR. OF DEVELOPMENT UNTIL MAR 2023 37.50 0.00 X 136461 0 8313 KEITH H MOORE DIRECTOR OF DEVELOPMENT 37.50 0.00 X 129506 0 12801 ASHLEY SAVILLE DIR. OF DEVELOPMENT UNTIL MAY 2022 37.50 0.00 X 150193 0 10747 1386380 0 85881 11 0 1 0 PEBBLE BEACH RESORTS 1700 17 MILE DR PEBBLE BEACH CA 93953 EVENT SPACE SERVICES 587741 DATOCWITTEN GROUP INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 517057 CATAPULT COLLECTIVE LLC 4136 DEL REY AVENUE SUITE 601 MARINA DEL REY CA 90292 CONTRACTED COMMUNICATION SERVICES 458755 DATA AXLE PO BOX 959819 ST LOUIS MO 631959819 DIRECT MARKING PROGRAM 243666 ANNE LEWIS STRATEGIES LLC 650 MASSACHSETTS AVENW SUITE 505 WASHINGTON DC 20001 DIGITAL MARKETING PROGRAM 210300 8 12412 2911033 15229802 354083 18153247 4722866 4722866 30873497 34839699 -3966202 -3966202 -3966202 5237678 2911033 1777929 3459749 3459749 20640 17013 3627 3627 MISCELLANEOUS INCOME 900099 514 514 514 22373801 0 0 4220554 10444979 10444979 23583 23583 729855 265722 457520 6613 2722030 845372 479521 1397137 92039 23654 19716 48669 290476 101091 56416 132969 256907 82368 68873 105666 4546 4546 144721 144721 466725 466725 405284 405284 934485 341688 120944 471853 780475 90754 2289 687432 131218 15405 8001 107812 358659 120683 58271 179705 206423 60638 65322 80463 287145 132980 9852 144313 365392 169235 50825 145332 24312 6457 9297 8558 51140 16736 13460 20944 OTHER FUNDRAISING EXP 342373 342373 115414 4066 1450 109898 19178181 12745411 1976308 4456462 27579698 13992363 1769369 7849794 10577217 9787237 115474 338857 481294 701375 1054921 1030665 10135 24256 102765314 126506526 163119 1755714 143461620 160956122 326858 668026 8860046 9563105 573836 1330386 2826607 10517290 13631574 X 31610300 36394314 101334030 110930234 132944330 147324548 143461620 160956122 X 3195620 11163444 21154 X 0 1 X 1 0 X 22566724 18010379 18003057 26582491 18153247 103315898 22566724 18010379 18003057 26582491 18153247 103315898 12915703 90400195 3301136 2543868 2468567 2694084 4722866 15730521 10550 10550 2615631 707019 2748067 2936849 5258832 14266398 133323367 0.67810 0.71520 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2021 AMOUNT: $ 11,851. 2022 AMOUNT: $ 514. SPECIAL EVENTS - 2018 AMOUNT: $ 2,583,786. 2019 AMOUNT: $ 685,086. 2020 AMOUNT: $ 2,735,237. 2021 AMOUNT: $ 2,902,183. 2022 AMOUNT: $ 5,237,678. GAMING ACTIVITIES - 2018 AMOUNT: $ 31,845. 2019 AMOUNT: $ 21,933. 2020 AMOUNT: $ 12,830. 2021 AMOUNT: $ 22,815. 2022 AMOUNT: $ 20,640. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 69255318 8324376 7222235 2891555 81910374 77617042 4430672 -10092365 2700031 69255318 67499548 641055 11755040 2278601 77617042 64633001 2454390 2669798 2257641 67499548 58097977 4610876 3786158 1862010 64633001 0.00000 0.85209 0.14791 0 0 328791 328017 774 726130 702648 23482 24256 OBLIGATIONS UNDER CHARITABLE TRUSTS AND ANNUITIES 2826607 2826607 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 FOUNDATION IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION HAS RECEIVED FROM THE IRS A FAVORABLE RULING THAT IT IS RECOGNIZED AS A "PUBLIC CHARITY" WITHIN THE MEANING OF INTERNAL REVENUE CODE SECTION 170(B)(1)(A)(VI) AND THUS, MEETS THE EXCEPTION TO PRIVATE FOUNDATION STATUS UNDER SECTION 509(A)(1). THE FOUNDATION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN INCOME TAX POSITIONS. THE FOUNDATION EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ITS POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED ON EXAMINATION. THE FOUNDATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. 1 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 18583 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 5000 0 0 0 0 0 0 23583 0 23583 0 0 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 3 15000 CHECK N/A N/A SCHOLARSHIPS EUROPE 1 5000 WIRE TRANSFER N/A N/A SCHOLARSHIPS EAST ASIA AND THE PACIFIC 1 3583 WIRE TRANSFER N/A N/A 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 III ACCOUNTING METHOD: X X X X X 1 DATOCWITTEN INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 0 5168735 245525 4923210 PATRICIA J HURLEY & ASSOCIATES 205 WEST WACKER DRIVE SUITE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 0 1751393 45000 1706393 DATA AXLE INC 120 EAST 1ST STREET PAPOLLION NE 68046 DIRECT & DIGITAL MARKETING PROGRAM 0 873176 176200 696976 7793304 466725 7326579 AL AK AZ AR CA CO CT DC DE FL GA HI ID IL IN IA KS KY LA MA MD MA MI 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 WV WI WY CHICAGO DINNER 1751393 731000 1020393 1671 53980 39651 PEBBLE BEACH GOLF 1370877 442650 928227 22759 145244 22032 356497 21 5026441 1737383 3289058 15092 535892 41221 543890 8148711 2911033 5237678 39522 735116 63253 940038 1777929 3459749 20640 10343 6670 1 1.00000 20640 10343 6670 17013 3627 FL IN MA NJ NC VA MO 1 0 1 0 1.00000 SARAH TONIZZO 909 NORTH WASHINGTON STREET SUITE 4 ALEXANDRIA VA 22314 0 CAROLINA CLASSIC - MAJGEN THOMAS BR 0 CONTROLLED THE OVERALL OPERATION OF THE RAFFLE X 0 SCHEDULE G, PART I, LINE 2B, COLUMN (V) MARINE CORPS SCHOLARSHIP FOUNDATION, INC. (THE FOUNDATION) PAID PROFESSIONAL FUNDRAISERS FOR PROFESSIONAL FUNDRAISING SERVICES AND ADMINISTRATIVE FEES. IN 2022, THE FOUNDATION PAID ADMINISTRATIVE FEES AND EXPENSE REIMBURSEMENTS TO THE FOLLOWING PROFESSIONAL FUNDRAISERS: PATRICIA J. HURLEY - $65,890 DATOC WITTEN - $276,483 DATA AXLE - $158,691 SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: INDIANAPOLIS GOLF - TY MENSCH, ROB GREEN 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 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 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 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 NAME OF GAMING MANAGER: CORPORAL 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 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 NAME OF GAMING MANAGER: CAPITAL AREA GOLF - SCOTT 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 1 SCHOLARSHIP AWARDS 2616 10444979 N/A N/A PART I, LINE 2: AT THE TIME OF APPLICATION, STUDENTS PROVIDE DOCUMENTATION TO VERIFY THEIR ELIGIBLITY 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 1 0 0 0 0 0 0 0 0 EDWARD PROBERT PRESIDENT AND CEO 253058 0 61250 0 0 0 15683 0 1419 0 331410 0 0 0 HAROLD VAN OPDORP CHIEF OPERATING OFFICER 198985 0 0 0 0 0 4038 0 1082 0 204105 0 0 0 COURTNEY BALSON CHIEF ADVANCEMENT OFFICER 152038 0 11250 0 0 0 8375 0 4137 0 175800 0 0 0 JEANNA ADAMS CHIEF SCHOLARSHIP OFFICER 151097 0 2500 0 0 0 7813 0 4065 0 165475 0 0 0 ASHLEY SAVILLE DIR. OF DEVELOPMENT UNTIL MAY 2022 107078 0 0 0 43115 0 7346 0 3401 0 160940 0 0 0 PART I, LINE 4A ASHLEY SAVILLE, DIRECTOR OF DEVELOPMENT, RECEIVED $43,115 OF SEVERANCE PAYMENT IN THE CALENDAR YEAR 2022. THIS AMOUNT WAS INCLUDED IN HER W-2. X 11 338991 PUBLISHED MARKET VALUE X AUCTION ITEMS 8 15092 COST & SELLING PRICE 0 0 1 1 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. 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 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 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 VI, SECTION B, LINE 11B THE RETURN IS REVIEWED AND APPROVED BY MANAGEMENT, THE ORGANIZATION'S BOARD OF DIRECTORS AND GENERAL COUNSEL BEFORE FILING WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD MEMBERS ARE REQUIRED TO READ THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. THEY MUST SIGN THAT THEY READ IT AND THEN COMPLETE A FORM THAT LISTS ANY CONFLICTS. THERE ARE PERIODIC REVIEWS TO ENSURE COMPLIANCE. AT SUCH TIME AS ANY MATTER COMES BEFORE THE BOARD IN SUCH A WAY AS TO GIVE RISE TO A CONFLICT OF INTEREST, THE INTERESTED OFFICER, IF ATTENDING THE MEETING, OR DIRECTOR SHALL MAKE KNOWN THE POTENTIAL CONFLICT, WHETHER OR NOT DISCLOSED BY HIS OR HER WRITTEN STATEMENT, AND 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 IT. 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 PRESIDENT AND CEO USES THAT INFORMATION, ALONG WITH A REVIEW OF THE EXECUTIVE MANAGEMENT TEAM'S ACHIEVEMENT OF THEIR ANNUAL GOALS TO PREPARE A RECOMMENDATION ON EXECUTIVE MANAGEMENT TEAM COMPENSATION TO THE MCSF EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE REVIEWS AND DISCUSSES THE WORK OF THE PRESIDENT AND CEO PRIOR TO VOTING ON A FINAL COMPENSATION PACKAGE FOR THE EXECUTIVE MANAGEMENT TEAM, WITH EVIDENCE OF THE APPROVAL BEING MAINTAINED BY THE BOARD CHAIR AND THE COMPENSATION COMMITTEE CHAIR. COMPENSATION COMMITTEE DELIBERATIONS ARE RECORDED AND TRACKED IN THE MEETING MINUTES, WHICH ARE MAINTAINED BY THE COMPENSATION COMMITTEE CHAIR. THIS PROCESS WAS LAST TAKEN IN FY 2023. 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. FORM 990, PART XI, LINE 9: CHANGE IN VALUES OF OBLIGATIONS UNDER CHARITABLE TRUSTS 21,154. BROWN HUDNER NAVY SCHOLARSHIP FOUNDATION 9900 N WASHINGTON STREET SUITE 400 ALEXANDRIA VA 22314 874808169 PROVIDING SCHOLARSHIP DE 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 1 0 0 0