2023-05-11T14:36:59-05:00 2022-06-30 410746749 CLIFTONLARSONALLEN LLP 901 NORTH GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2021-07-01 221905062 MARINE CORPS SCHOLARSHIP FOUNDATION INC MARI 7035490060 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 EDWARD PROBERT JR PRESIDENT & CHIEF EXECUTIVE OFFICER 7035490060 2023-05-10 1 EDWARD PROBERT JR XXX-XX-XXXX ROBERT WILLIAMS P01345960 5712279500 2023-05-10 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z EDWARD PROBERT JR 909 N WASHINGTON STREET 400 ALEXANDRIA VA 22314 170213832 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 40 329 0 0 18003057 26582491 0 0 13905448 10051527 2377211 777858 34285716 37411876 8819080 9788202 0 0 3649119 3327199 442592 537865 3920091 2333270 3591763 15244061 17245029 19041655 20166847 149128193 143461620 10492244 10517290 138635949 132944330 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 NEARLY 50,000 SCHOLARSHIPS VALUED AT $185 MILLION. EVERY QUALIFIED STUDENT WHO HAS APPLIED HAS RECEIVED AID. 0 0 11945279 9788202 SEE SCHEDULE OFOR THE 2022-2023 ACADEMIC YEAR, THE MARINE CORPS SCHOLARSHIP FOUNDATION AWARDED $10 MILLION TO 2,611 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 56% NATIONALLY), DEMONSTRATING THAT OUR INVESTMENT IN THEIR EDUCATION PAYS OFF. WITH 50% OF OUR RECIPIENTS REPORTING LITTLE TO NO DEBT AT GRADUATION (COMPARED TO 30% NATIONALLY), WE ARE CONFIDENT THAT OUR SCHOLARSHIP SUPPORT MAKES A SIGNIFICANT IMPACT IN THEIR LIVES AFTER GRADUATION. 11945279 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 26 0 40 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 STREET SUITE 400 ALEXANDRIA VA 22314 EDWARD PROBERT PRESIDENT AND CEO 37.50 1.00 X X 290843 0 17241 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 MICHEAL P BARRETT DIRECTOR UNTIL SEPT 2021 1.00 X 0 0 0 RICHARD A BERGEN DIRECTOR UNTIL SEPT 2021 1.00 X 0 0 0 CHARLES F BOLDEN JR DIRECTOR 1.00 X 0 0 0 JOSEPH F BOULOS DIRECTOR 1.00 X 0 0 0 MIGUEL EATON DIRECTOR 1.00 X 0 0 0 GEORGE J FLYNN DIRECTOR 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 TRACY GARRETT DIRECTOR 1.00 1.00 X 0 0 0 FRANK J GAUDIO 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 1.00 X 0 0 0 MARGARET G KIBBEN 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 SUSAN E MORRISON DIRECTOR 1.00 X 0 0 0 MICHAEL G MULLEN DIRECTOR 1.00 X 0 0 0 DAN NELSON 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 ROBERT W SCHRODER DIRECTOR 1.00 1.00 X 0 0 0 CHARLES SCIANNA DIRECTOR UNTIL SEPT 2021 1.00 X 0 0 0 HARVEY SEEGERS DIRECTOR 1.00 X 0 0 0 CATHERINE THOMAS DIRECTOR 1.00 X 0 0 0 BERNARD J WILLETT DIRECTOR UNTIL APRIL 2022 1.00 X 0 0 0 RITA THAKUR COMPTROLLER UNTIL JAN 2022 37.50 X 153653 0 19005 HAROLD VAN OPDORP CHIEF OPERATING OFFICER 37.50 1.00 X 97708 0 26649 SARAH TONIZZO CFO STARTING MAY 2022 37.50 1.00 X 0 0 0 ASHLEY SAVILLE CHIEF PHILANTHROPIC UNTIL MAY 2022 37.50 X 177634 0 10234 KEITH MOORE DEVELOPMENT OFFICER 37.50 X 119490 0 19586 COURTNEY BALSON CHIEF ADVANCEMENT OFFICER 37.50 X 117371 0 20518 JEANNA ADAMS CHIEF SCHOLARSHIP OFFICER 37.50 X 122147 0 13846 BRIAN CHADWICK DEVELOPMENT OFFICER UNTIL APRIL 2022 37.50 X 125950 0 6609 ROBERT RUARK FORMER OFFICER UNTIL JUNE 2021 37.50 X 215513 0 11714 STEVEN PETERSON FORMER OFFICER UNTIL JUNE 2021 37.50 X 184841 0 6222 1605150 0 151624 11 1 1 0 ANNE LEWIS STRATEGIES LLC 650 MASSACHSETTS AVENW SUITE 505 WASHINGTON DC 20001 DIGITAL MARKETING PROGRAM 445900 ICONIC COLLECTIVE LLC 4136 DEL REY AVENUE SUITE 601 MARINA DEL REY CA 90292 CONTRACTED COMMUNICATIONS SERVICES 374133 DATOCWITTEN GROUP INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 363123 DATA AXLE PO BOX 959819 ST LOUIS MO 631959819 DIRECT MARKING PROGRAM 149812 PEBBLE BEACH RESORTS 1700 17 MILE DR PEBBLE BEACH CA 93953 EVENT SPACE SERVICES 105058 5 13561 9889844 569670 16109416 4792758 26582491 2694084 2694084 138000366 130642923 7357443 7357443 7357443 2902225 9889844 2144280 757945 757945 22815 14753 8062 8062 MISCELLANEOUS INCOME 900099 11851 11851 11851 37411876 0 0 10829385 9763889 9763889 24313 24313 640415 250237 171341 218837 2230735 1047277 189920 993538 88221 42394 7686 38141 161743 73761 18167 69815 206085 93344 25561 87180 29590 29590 64914 64914 537865 537865 335681 335681 501281 202258 58047 240976 672969 68580 190510 413879 196560 20409 30556 145595 343159 164806 47110 131243 174000 74349 28721 70930 278763 51731 43244 183788 276067 57673 86824 131570 17059 10258 3537 3264 45021 45021 OTHER FUNDRAISING EXP 430405 430405 DIRECT MAIL 150650 150650 75644 3229 72415 17245029 11945279 1379659 3920091 23401949 27579698 1338566 1769369 13877692 10577217 86284 115474 862300 481294 1032969 1022834 27444 10135 109397864 102765314 136094 163119 149128193 143461620 592219 326858 8011204 8860046 569670 0 1319151 1330386 10492244 10517290 X 22428658 31610300 116207291 101334030 138635949 132944330 149128193 143461620 X 20166847 -25765413 -93053 X 0 1 X 1 0 X 28786241 22566724 18010379 18003057 26582491 113948892 28786241 22566724 18010379 18003057 26582491 113948892 16940415 97008477 1637701 3301136 2543868 2468567 2694084 12645356 27067 10550 37617 2615631 707019 2748067 2936849 9007566 135639431 0.71520 0.80620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 77617042 4430672 -10092365 2700031 69255318 67499548 641055 11755040 2278601 77617042 64633001 2454390 2669798 2257641 67499548 58097977 4610876 3786158 1862010 64633001 58925152 1022542 -414230 1435487 58097977 0.00000 0.88137 0.11862 0 0 328791 327087 1704 704178 695747 8431 10135 OBLIGATIONS UNDER CHARITABLE TRUSTS AND ANNUITIES 1270571 DEFERRED RENT 59815 1330386 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. 0 EUROPE 0 0 GRANTS TO RECEIPIENTS LOCATED IN THE REGION 7500 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO RECEIPIENTS LOCATED IN THE REGION 7500 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECEIPIENTS LOCATED IN THE REGION 9313 0 0 0 0 0 0 24313 0 24313 SCHOLARSHIPS EUROPE 2 7500 WIRE $5,000; CHECK $2,500 0 N/A N/A SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 7500 CHECK 0 N/A N/A SCHOLARSHIPS EAST ASIA AND THE PACIFIC 2 9313 WIRE $4,313; CHECK $5,000 0 N/A N/A 0 0 0 0 0 0 PART I, LINE 2: BEFORE AWARDS ARE MADE, STUDENTS APPLY FOR THE SCHOLARSHIPS AND A POINT SYSTEM IS USED TO DETERMINE THE AWARD AMOUNT TO EACH STUDENT BASED ON ELIGIBILITY AND NEED OF THE STUDENT. STUDENTS MUST PROVIDE INFORMATION TO THE ORGANIZATION, INCLUDING TRANSCRIPTS, VERIFICATION OF STUDENT EXPENSES AND AID FROM THE EDUCATIONAL INSTITUTIONS, AND A STATEMENT OF USE OF THE SCHOLARSHIP FUNDS. 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 7351359 233925 7117434 PATRICIA J HURLEY & ASSOCIATES 205 WEST WACKER DRIVE SUITE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 0 3169964 50000 3119965 THE FASHIONABLE EVENT 1101 WALNUT F HUNTINGTON BEACH CA 92648 EVENT MANAGEMENT 0 809539 16940 792599 ANNE LEWIS STRATEGIES LLC 120 EAST 1ST STREET PAPOLLION NE 68046 DIGITAL ADVERTISING AND MARKETING 0 687206 177000 510206 DATA AXLE INC 120 EAST 1ST STREET PAPOLLION NE 68046 DIRECT MARKETING PROGRAM 0 364815 60000 304815 12382883 537865 11845019 AL AK AZ AR CA CO CT DC FL GA HI IL KS KY LA MA MD ME MI MN MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN UT VA WA WI WV WY CHICAGO DINNER 3169965 2324924 845041 50334 2000 42805 NEW YORK BALL 2288926 1825630 463296 5880 248734 6910 102364 21 7328212 5739290 1588922 157985 587413 26089 911566 12787103 9889844 2897259 163865 886481 34999 1056735 2142080 755179 22815 10615 4138 1 1.00000 22815 10615 4138 14753 8062 FL IN MA NJ NC VA 1 0 1 0 0.00000 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 ACTIVITIES AT THE EVENTS. 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 2021, THE FOUNDATION PAID ADMINISTRATIVE FEES AND EXPENSE REIMBURSEMENTS TO THE FOLLOWING PROFESSIONAL FUNDRAISERS: PATRICIA J. HURLEY - $67,470 THE FASHIONAL EVENT - $100,786 DATOC WITTEN - $262,150 ANNE LEWIS, LLC - $233,300 DATA AXLE - $124,342 SCH G, PART III, LINE 16 - GAMING MANAGER INFORMATION: NAME OF GAMING MANAGER: INDIANAPOLIS GOLF - 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 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: DON 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 2505 9763889 0 N/A N/A PART I, LINE 2: BEFORE AWARDS ARE MADE, STUDENTS APPLY FOR THE SCHOLARSHIPS AND A POINT SYSTEM IS USED TO DETERMINE THE AWARD AMOUNT TO EACH STUDENT BASED ON ELIGIBILITY AND NEED OF THE STUDENT. STUDENTS MUST PROVIDE INFORMATION TO THE ORGANIZATION, INCLUDING TRANSCRIPTS, VERIFICATION OF STUDENT EXPENSES AND AID FROM THE EDUCATIONAL INSTITUTIONS, AND A STATEMENT OF USE OF THE SCHOLARSHIP FUNDS. 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 233468 0 57375 0 0 0 14707 0 2534 0 308084 0 0 0 ROBERT RUARK FORMER OFFICER UNTIL JUNE 2021 142165 0 73348 0 0 0 10157 0 1557 0 227227 0 0 0 STEVEN PETERSON FORMER OFFICER UNTIL JUNE 2021 114177 0 2500 0 68164 0 5292 0 930 0 191063 0 0 0 ASHLEY SAVILLE CHIEF PHILANTHROPIC UNTIL MAY 2022 169528 0 7500 0 606 0 8912 0 1322 0 187868 0 0 0 RITA THAKUR COMPTROLLER UNTIL JAN 2022 144420 0 5000 0 4233 0 7867 0 11138 0 172658 0 0 0 PART I, LINE 4A STEVEN PETERSON, FORMER EXECUTIVE VICE PRESIDENT OPERATIONS, RECEIVED $67,401 OF SEVERANCE PAYMENT IN THE CALENDAR YEAR 2021. THIS AMOUNT IS INCLUDED IN HIS W-2. X 18 4752285 PUBLISHED MARKET VALUE X AUCTION ITEMS 8 23356 COST & SELLING PRICE X COINS/SNACKS/GIFT 6 17117 COST & SELLING PRICE 0 0 1 1 PART I, COLUMN (B): 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 (WHICH SHALL INCLUDE COMPENSATION AMONG ITS FUNCTIONS), 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, 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 PROCESS FOR DETERMINING THE COMPENSATION OF CEO, EXECUTIVE DIRECTOR OR TOP MANAGEMENT OFFICIAL: COMPENSATION COMMITTEE HIRED OUTSIDE FIRM TO CONDUCT A COMPENSATION ANALYSIS TO DETERMINE COMPENSATION PACKAGE FOR PRESIDENT AND CEO. COMPENSATION COMMITTEE PRESENTED RESULTS TO EXECUTIVE COMMITTEE AND REVIEWED SCOPE OF WORK, DEMANDS AND IF CEO ACHIEVED ANNUAL GOALS. RECOMMENDED COMPENSATION WAS DISCUSSED WITH THE EXECUTIVE COMMITTEE FOR APPROVAL, WITH EVIDENCE OF APPROVAL BEING MAINTAINED BY BOARD CHAIR. MINUTES OF THE MEETINGS ARE MAINTAINED BY THE COMPENSATION COMMITTEE CHAIRMAN. THE PROCESS WAS LAST UNDERTAKEN IN FY 2022. THE PROCESS OF DETERMINING THE COMPENSATION OF OFFICERS OR KEY EMPLOYEES: THE PRESIDENT AND CEO HIRED HR CONSULTANT TO COMPLETE A COMPENSATION STUDY FOR ENTIRE STAFF. PROCESS INCLUDED SALARY SURVEYS FOR RESPECTIVE POSITIONS AND/OR INTERVIEWS OF OTHER SIMILAR NPOS, AND CONSULTATION WITH EXECUTIVE RECRUITERS REGARDING THEIR RECOMMENDED SALARY BASED ON NATURE AND DUTIES OF THE POSITION. INFORMATION WAS REVIEWED BY THE PRESIDENT/CEO AND DOCUMENTED BY THE HR CONSULTANT. THE PROCESS WAS LAST UNDERTAKEN IN FY 2022. 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 11,597. BAD DEBT -104,650. 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