2015-08-04T15:28:59-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2014-01-01 221905062 MARINE CORPS SCHOLARSHIP FOUNDATION INC MARI 7035490060 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 STEVEN D PETERSON CHIEF OPERATING OFFICER 7035490060 2015-08-03 1 KAREN GRIES P00078514 5712279500 2014 2016-04-25 22:37:26Z X MARGARET B DAVIS 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 30068158 0 X WWW.MCSF.ORG X 1962 NJ TO PROVIDE POST-HIGH SCHOOL SCHOLARSHIPS TO DESERVING CHILDREN OF MARINES & NAVY CORPSMEN. 36 35 40 92 0 0 16204271 20227816 0 0 2873077 1401045 -900520 -1762265 18176828 19866596 6436925 6389979 0 0 2604727 3158042 959088 849184 3086029 3104681 3063978 13105421 13461183 5071407 6405413 61192002 68327685 2095042 2596181 59096960 65731504 X SINCE 1962, THE MARINE CORPS SCHOLARSHIP FOUNDATION HAS BEEN HONORING MARINES BY EDUCATING THEIR CHILDREN BY AWARDING NEED-BASED, POST-HIGH SCHOOL SCHOLARSHIPS TO THE SONS AND DAUGHTERS OF MARINES AND THE NAVY CORPSMEN WHO SERVE WITH THEM. WHILE THERE ARE MANY WAYS TO HONOR OUR NATION'S HEROES, THERE IS NO ORGANIZATION CLOSER TO THE INTERSECTION OF REAL NEED AND LASTING IMPACT THAN THE MARINE CORPS SCHOLARSHIP FOUNDATION. 0 0 8434027 6389979 FOR 52 YEARS, THE MARINE CORPS SCHOLARSHIP FOUNDATION HAS BEEN PROVIDING ACCESS TO AFFORDABLE EDUCATION FOR THE CHILDREN OF MARINES AND THE NAVY CORPSMEN WHO SERVE WITH THEM ATTENDING POST-HIGH SCHOOL, UNDER-GRADUATE, AND CAREER AND TECHNICAL EDUCATION PROGRAMS. TODAY, WE ARE THE NATION'S OLDEST AND LARGEST PROVIDER OF NEED-BASED SCHOLARSHIPS FOR MILITARY CHILDREN HAVING AWARDED MORE THAN 33,000 SCHOLARSHIPS WORTH NEARLY $90 MILLION. IN 2014, THE SCHOLARSHIP FOUNDATION PROVIDED EDUCATIONAL SUPPORT OF APPROXIMATELY $6.4 MILLION TO 2,200 INDIVIDUALS, WHICH WAS A RECORD YEAR IN TERMS OF NUMBER OF SCHOLARSHIPS PROVIDED. THE SCHOLARSHIP FOUNDATION DOES NOT JUST ISSUE SCHOLARSHIPS AND CHECK THE BOX FOR A JOB WELL DONE. THE SCHOLARSHIP FOUNDATION EVALUATES SUCCESS BY THE SUCCESS OF OUR STUDENTS. ONLY 27% OF FIRST GENERATION COLLEGE STUDENTS ACTUALLY EARN A DEGREE. AT THE SCHOLARSHIP FOUNDATION, MORE THAN 80% OF OUR RECIPIENTS ATTAIN THEIR DEGREES AND 50% OF ALL THE STUDENTS WE SUPPORT ARE ACTUALLY FIRST GENERATION COLLEGE STUDENTS. WE ARE FAR SURPASSING THE NATIONAL STANDARDS AND PROUD OF IT, AS ARE OUR INVESTORS. AT A TIME WHEN PATRIOTIC AMERICANS ARE INCREASINGLY SKEPTICAL OF A BURGEONING CHARITABLE LANDSCAPE, THE SCHOLARSHIP FOUNDATION MAINTAINS THE PUBLIC TRUST WE HAVE EARNED FOR 52 YEARS WITH RESPONSIBLE ORGANIZATIONAL MANAGEMENT AND EXHAUSTIVE FISCAL TRANSPARENCY. NOT ONLY ARE WE A SOLID INVESTMENT, WE'RE A TRUSTED STEWARD FOR MORE THAN 52,000 INVESTORS WITH EXCEEDINGLY STRONG CONTROLS OVER EVERY FINANCIAL TRANSACTION. THE TRUST OF THOSE INVESTORS IS FURTHER VALIDATED BY TOP MARKS FROM LEADING CHARITY WATCHDOGS, INCLUDING AN A+ RATING FROM THE BETTER BUSINESS BUREAU, AND 4 OUT OF 4 STARS FOR ACCOUNTABILITY AND TRANSPARENCY FROM CHARITY NAVIGATOR. TOGETHER WITH OUR INVESTORS, THE SCHOLARSHIP FOUNDATION IS TURNING KIDS RAISED ON THE SPIRIT OF SEMPER FIDELIS INTO THE FUTURE LEADERS OF AMERICA. 8434027 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 33 0 40 1 0 0 0 0 0 1 1 0 0 0 0 X 36 35 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 AK AL AR AZ CO CT FL GA HI IL KS KY ME MD MA MI MN MS MO NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV CA X X ROBIN F KLUNG 7035490060 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 MARTIN R STEELE CHAIR DIRECTOR 1.00 X 0 0 0 ERIC J CANDELORI VICE CHAIR DIRECTOR 1.00 X 0 0 0 RICHARD C HARTNACK TREASURER 1.00 X X 0 0 0 KEVIN N AINSWORTH GENERAL COUNSEL 1.00 X X 0 0 0 C MICHAEL ARMSTRONG DIRECTOR 1.00 X 0 0 0 RICHARD A BERGEN DIRECTOR 1.00 X 0 0 0 DEBORAH G CARSTENS DIRECTOR 1.00 X 0 0 0 RONALD S COLEMAN DIRECTOR 1.00 X 0 0 0 H LEE DIXSON DIRECTOR 1.00 X 0 0 0 JOSEPH L DRISCOLL DIRECTOR 1.00 X 0 0 0 CRAIG J DUCHOSSOIS DIRECTOR 1.00 X 0 0 0 DONALD V ESMOND DIRECTOR 1.00 X 0 0 0 DONALD W FAUL DIRECTOR 1.00 X 0 0 0 MICHAEL K HAYDE DIRECTOR 1.00 X 0 0 0 JOHN C HEENAN DIRECTOR 1.00 X 0 0 0 MICHAEL HEGARTY DIRECTOR 1.00 X 0 0 0 JAN C HULY DIRECTOR 1.00 X 0 0 0 NIGEL W JONES DIRECTOR 1.00 X 0 0 0 KAREN KELLY DIRECTOR 1.00 X 0 0 0 CARLTON W KENT DIRECTOR 1.00 X 0 0 0 JAMES D KING DIRECTOR 1.00 X 0 0 0 BURRELL H LANDES DIRECTOR 1.00 X 0 0 0 RICHARD B LIEB DIRECTOR 1.00 X 0 0 0 THOMAS J LYONS DIRECTOR 1.00 X 0 0 0 KATHERINE C MCCALLUM DIRECTOR 1.00 X 0 0 0 FREDERICK MCCORKLE DIRECTOR 1.00 X 0 0 0 JAMES P MCGINTY DIRECTOR 1.00 X 0 0 0 DENNIS P MORRIS DIRECTOR 1.00 X 0 0 0 BERNARD A PEKALA DIRECTOR 1.00 X 0 0 0 STEVEN POST DIRECTOR 1.00 X 0 0 0 PAMELA SCHMIDLE DIRECTOR 1.00 X 0 0 0 CHARLES C SCIANNA DIRECTOR 1.00 X 0 0 0 K PATRICK SIRMON DIRECTOR 1.00 X 0 0 0 WILLIAM SKILES DIRECTOR 1.00 X 0 0 0 MANNING J SMITH DIRECTOR 1.00 X 0 0 0 RICHARD STEPHENS DIRECTOR 1.00 X 0 0 0 ROBERT JSTEVENS DIRECTOR 1.00 X 0 0 0 GEORGE J TRAUTMAN DIRECTOR 1.00 X 0 0 0 WILLIE WILLIAMS DIRECTOR 1.00 X 0 0 0 MARGARET B DAVIS PRESIDENT/CEO 40.00 X X 314709 0 15592 ALAN HAMMER SEC (THRU 11/17/14) 22.50 X 63918 0 5722 ROBIN F KLUNG VP ACCOUNTING & FINANCE 40.00 X 148421 0 23817 STEVEN D PETERSON COO & SEC (11/17/14) 40.00 X 166260 0 12386 KENNETH R ASHWORTH DIRECTOR, AMERICAN PATRIOT 40.00 X 140345 0 9404 JOHN M RIPLEY SENIOR DEVELOPMENT OFFICER 40.00 X 150042 0 22731 JEANETTE CASSELANO VP OF ADVANCEMENT 40.00 X 141994 0 6595 1125689 0 96247 6 0 1 0 DATOCWITTEN GROUP INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 309131 GABRIEL GROUP 3190 RIDER TRAIL SOUTH EARTH CITY MO 63045 DIRECT MAIL PROGRAM 155291 HILL & KNOWLTON INC PO BOX 7247-7193 PHILADELPHIA PA 19170 CONTRACTED MEDIA SERVICES 133778 ISOM GLOBAL STRATEGIES 701 8TH STREET NW SUITE 350 WASHINGTON DC 20001 EVENT MANAGEMENT 105307 4 14123047 6104769 1731608 20227816 1052195 1052195 8055609 7706759 348850 348850 348850 664985 14123047 2494803 -1829818 -1829818 MANAGEMENT FEE 900099 67500 67500 OTHER REVENUE 900099 53 53 67553 19866596 0 0 -361220 6389979 6389979 750825 280169 285903 184753 2011661 752990 369039 889632 82562 33576 16918 32068 130328 57905 29362 43061 182666 71079 43541 68046 17112 954 1617 14541 74287 74287 849184 849184 155060 155060 463876 141947 133458 188471 403378 70614 212198 120566 272277 39643 63830 168804 220790 76340 77698 66752 179499 57885 57268 64346 277084 51306 24831 200947 660110 375660 195286 89164 98493 33980 28563 35950 26996 26996 BAD DEBT 119177 119177 MISCELLANEOUS 95839 26095 69744 13461183 8434027 1941127 3086029 7569994 8369319 9545440 12473917 70185 37682 377367 518882 1073240 680426 356905 392814 36182482 40677162 4169790 3074830 2919839 2783079 61192002 68327685 327503 527401 124770 310501 700745 581847 416034 416865 250000 525990 509567 2095042 2596181 X 644227 -662217 23329354 29952849 35123379 36440872 59096960 65731504 61192002 68327685 X 6405413 332934 -103803 X X 0 1 X 1 0 X 10678804 13865393 18973358 16204271 20227816 79949642 10678804 13865393 18973358 16204271 20227816 79949642 6701443 73248199 784537 758671 1034880 935250 1052195 4565533 153091 270087 14906 67553 505637 85020812 0.86150 0.80690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 38999872 2137070 1387227 1395326 41128843 34573570 2594211 2834286 1002195 38999872 25927113 6410094 3043454 807091 34573570 25366522 5520078 -1093788 3865699 25927113 21332597 1410869 3219244 596188 25366522 0.01680 0.80050 0.18270 0 0 328791 108387 220404 744449 572039 172410 392814 OBLIGATIONS UNDER CHARITABLE TRUSTS 507267 OTHER LIABILITIES 2300 509567 X 22496517 332934 61048 2391000 2784982 19711535 155061 155061 19866596 15861973 61048 2494803 2555851 13306122 155061 155061 13461183 PART IV, LINE 2B: AMOUNTS HELD FOR OTHERS REPRESENT FUNDS NOT CONTROLLED BY THE FOUNDATION AND HELD IN A CUSTODIAL CAPACITY ON BEHALF OF OTHERS. THE AMOUNTS HELD FOR OTHERS RELATE TO A REVOLVING LOW-INTEREST LOAN FUND ESTABLISHED BY COLONEL WALTER AND ELEANOR SHORT FOR NEEDY UNDERGRADUATE STUDENTS ENROLLED IN NROTC, MECEP AND PLC PROGRAMS, WHO ARE COMPLETING PRE-COMMISSIONING REQUIREMENTS TO BECOME MARINE OFFICERS. THE FOUNDATION DOES NOT CONTROL THE DISBURSEMENTS OF THESE FUNDS. TO DATE, NO LOANS HAVE BEEN MADE. INVESTMENTS AND CASH EQUIVALENTS AT DECEMBER 31, 2014 AND 2013 INCLUDE $416,865 AND $416,034 RESPECTIVELY, REPRESENTING THE PRINCIPAL OF APPROXIMATELY $109,000 AND APPRECIATION OF $307,865 AND $307,034 RESPECTIVELY, ON THE SHORT FUND. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED TO PROVIDE SCHOLARSHIP AWARDS TO THOSE STUDENTS WHO ARE CHILDREN OF PERSONS WHO SERVED IN THE U.S. MARINE CORPS, WHO APPLY AND QUALIFY ACCORDING TO THE REQUIREMENTS AS SET BY THE FOUNDATION'S POLICY. PART X, LINE 2: THE FOUNDATION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN 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. THE TAX RETURNS FOR THE FISCAL YEARS 2011 THROUGH 2013 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 2,494,803. CHANGE IN VALUE OF CHARITABLE TRUSTS -103,803. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF INTERNAL EVENTS NETTED AGAINST REVENUE 2,494,803. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 693026 0 0 0 0 0 0 693026 0 693026 0 0 0 0 0 0 X X X X X X 1 DATOCWITTEN GROUP 13145 APPLEGROVE LN HERNDON VA 20171 EVENT MANAGEMENT 0 5831944 309131 5522813 PATRICIA J HURLEY & ASSOCIATES 205 W WACKER DR STE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 0 1859702 73637 1786065 PROJECTS PLUS INC 145 W 45TH ST STE 300 NEW YORK NY 10036 EVENT MANAGEMENT 0 1177263 90084 1087179 GORDON C JAMES PUBLIC RELATIONS 4715 N 32ND ST STE 104 PHOENIX AZ 85018 EVENT MANAGEMENT 0 866601 52832 813769 TAYLOR MADE EXPERIENCE LLC 9507 FLOWER AVE SILVER SPRING MD 20901 EVENT MANAGEMENT 0 828447 40978 787469 CONVENTURES INC ONE DESIGN CENTER PL BOSTON MA 02210 EVENT MANAGEMENT 0 570382 41418 528964 CREATIVE DIRECT RESPONSE 16900 SCIENCE DR STE 210 BOWIE MD 20715 DIRECT MAIL PROGRAM 0 380907 86029 294878 GABRIEL GROUP 3190 RIDER TRL S EARTH CITY MO 63045 DIRECT MAIL PROGRAM 0 215698 155291 60407 TOLO EVENTS LLC 2717 WESTERN AVE STE 1106 SEATTLE WA 98121 EVENT MANAGEMENT 0 202777 52226 150551 THE JFM GROUP 629 FIFTH AVE STE 106 PELHAM NY 10803 EVENT MANAGEMENT 0 0 42219 -42219 11933721 943845 10989876 AL AK AZ AR CA CO CT FL GA HI IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI DE IA ID IN LA MT NE NV SD TX VT WY CHICAGO DINNER 1859702 1816702 43000 67269 325 80363 PEBBLE BEACH GOLF 1573781 1461365 112416 17210 141680 218656 35 11354549 10844980 509569 170558 8500 644655 25756 1119831 14788032 14123047 664985 187768 8500 853604 26081 1418850 2494803 -1829818 SCHEDULE G LINE 2(B) THE AMOUNT REPORTED AS BEING PAID DURING 2014 TO THE JFM GROUP IS THE AMOUNT OF EXPENSES PAID IN ADVANCE FOR AN EVENT WHICH OCCURS IN APRIL 2015. 1 SCHOLARSHIP AWARDS 2200 6389979 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 COLLEGES, 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 MARINE CORPS 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 ACADEMIC INSTITUTION'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 0 0 0 0 0 0 MARGARET B DAVIS PRESIDENT/CEO 258127 0 56324 0 258 0 13000 0 2592 0 330301 0 0 0 ROBIN F KLUNG VP ACCOUNTING & FINANCE 131966 0 16365 0 90 0 7794 0 16023 0 172238 0 0 0 STEVEN D PETERSON COO & SEC (11/17/14) 150370 0 15800 0 90 0 8506 0 3880 0 178646 0 0 0 JOHN M RIPLEY SENIOR DEVELOPMENT OFFICER 128396 0 21250 0 396 0 7553 0 15178 0 172773 0 0 0 X 28 1704734 STOCK MARKET QUOTES X EVENT SUPPLIES 19 26874 DONOR ESTIMATE 0 1 1 PART I, LINE 32B: STOCK CONTRIBUTIONS THROUGH EVENTS THAT USE THIRD PARTY SOLICITORS. FORM 990, PART VI, SECTION A, LINE 1 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, AN INVESTMENT COMMITTEE, AND AN AUDIT COMMITTEE (WHICH SHALL INCLUDE FINANCE AMONG ITS FUNCTIONS). 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 A, LINE 6 THE FOUNDATION HAS ONLY ONE CLASS OF MEMBERSHIP. NO PERSON MAY BE DENIED MEMBERSHIP ON THE BASIS OF SEX, RACE, CREED, AGE, COLOR, NATIONAL ORIGIN, OR ANY OTHER ILLEGALLY DISCRIMINATORY BASIS. AN APPLICANT FOR MEMBERSHIP SHALL, UPON HAVING FILED WITH THE FOUNDATION A SIGNED WRITTEN DOCUMENT EXPRESSING HIS OR HER INTEREST IN PROMOTING THE PURPOSES OF THE FOUNDATION AND ABSENT GOOD CAUSE FOR DENIAL, BE ACCEPTED AS A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER SHALL BE ENTITLED TO CAST ONE VOTE FOR EACH DIRECTOR TO BE ELECTED IN ANY ELECTION OF DIRECTORS AND FOR THE REMOVAL OF ANY DIRECTOR. NO MEMBER SHALL HAVE THE RIGHT TO VOTE ON ANY OTHER MATTER. FORM 990, PART VI, SECTION B, LINE 11 THE RETURN IS PREPARED BY AN OUTSIDE PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY MANAGEMENT. ONCE THE DRAFT OF THE FILING IS REVIEWED AND APPROVED BY MANAGEMENT, THE ORGANIZATION'S GENERAL COUNSEL REVIEWS THE FORM 990 ON BEHALF OF THE BOARD OF DIRECTORS. 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 15A CEO, EXECUTIVE DIRECTOR, MANAGEMENT: CONSULTATION WITH HUMAN RESOURCE (HR) CONSULTANT WHO PROVIDED A SALARY SURVEY OF COMPARABLE SIZED NONPROFIT ORGANIZATIONS (NPOS) NATIONALLY AND IN THE DC AREA, INCLUDING OTHER UNITED STATES MARINE CORPS (USMC)-RELATED NPOS. AN ADDITIONAL SURVEY IS SENT TO ALL BOARD MEMBERS REQUESTING ANSWERS TO SPECIFIC PERFORMANCE-RELATED QUESTIONS. CONSULTATION OF MARKET DATA PROVIDED BY HR CONSULTANT AND PROFESSIONALS IN THE FIELD COUPLED WITH SCOPE AND DEMANDS OF THE JOB, IS PROVIDED DIRECTLY TO THE BOARD VICE-CHAIR. RECOMMENDED COMPENSATION IS PROVIDED THROUGH WRITTEN COMMUNICATION TO MEMBERS OF THE EXECUTIVE COMMITTEE FOR APPROVAL, AND EVIDENCE OF APPROVAL MAINTAINED BY BOARD VICE-CHAIR. THE PROCESS WAS LAST UNDERTAKEN IN 2014. OFFICERS AND KEY EMPLOYEES: CONSULTATION WITH HR CONSULTANT, WHICH INCLUDES 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 REVIEWED BY PRESIDENT/CEO AND DOCUMENTED BY THE HR CONSULTANT. THE PROCESS WAS LAST UNDERTAKEN IN 2014. 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 UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE TRUSTS -103,803. FORM 990, PART XII, LINE 2C: NO CHANGE IN METHOD SINCE PRIOR YEAR. FORM 990, PAGE 1, HEADING - REASON FOR AMENDED RETURN THE ORGANIZATION AMENDED ITS 2014 FORM 990 FOR THE FOLLOWING: FORM 990, PART VII, SECTION B: CORRECTED LIST OF INDEPENDENT CONTRACTORS SCHEDULE G, PART I: CORRECTED LIST OF TEN HIGHEST PAID FUNDRAISERS