2021-03-23T13:51:21-05:00 2020-06-30 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2019-07-01 221905062 MARINE CORPS SCHOLARSHIP FOUNDATION INC MARI 7035490060 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 ROBERT R RUARK PRESIDENT & CHIEF EXECUTIVE OFFICER 7035490060 2021-03-23 1 AMY CHAPMAN P00843460 5712279500 2021-03-23 2019 2022-09-23 18:48:47Z ROBERT R RUARK 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 62039984 0 X WWW.MCSF.ORG X 1962 NJ TO HONOR MARINES BY EDUCATING THEIR CHILDREN. 28 27 39 379 0 0 15457151 18010379 0 0 2811724 2511106 725722 707019 18994597 21228504 8223262 7560233 0 0 3583177 3597183 492513 452765 3697995 3776598 3221822 16075550 14832003 2919047 6396501 119106857 126336184 10102814 9416635 109004043 116919549 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 MORE THAN 47,000 SCHOLARSHIPS VALUED AT NEARLY $145 MILLION. EVERY QUALIFIED STUDENT WHO HAS APPLIED HAS RECEIVED AID. 0 0 9817287 7560233 SEE SCHEDULE OIN 2020-21 ACADEMIC YEAR, THE MARINE CORPS SCHOLARSHIP FOUNDATION AWARDED $8.5 MILLION TO 2,750 CHILDREN OF MARINES AND NAVY CORPSMEN IN ALL 50 STATES. 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.IN THE 2020-21 ACADEMIC YEAR, THE SCHOLARSHIP FOUNDATION EXPERIENCED A SIGNIFICANT INCREASE IN APPLICATIONS AND AWARDED 400 MORE SCHOLARSHIPS THAN THE PRIOR YEAR, PUTTING US THREE YEARS AHEAD OF PLANNED SCHOLARSHIP GROWTH. GIVEN THE EVENTS OF 2020, WE ANTICIPATE THE NEXT 5-10 YEARS WILL BRING ITS OWN SET OF NEW DEMANDS FOR SUPPORT. DURING THIS UNPRECEDENTED YEAR, WE ARE MONITORING THE UNEXPECTED IMPACTS OF COVID-19 ON HIGHER EDUCATION, THE DEMAND FOR OUR SCHOLARSHIPS, AND THE ACADEMIC PLANS OF INDIVIDUAL STUDENTS. 9817287 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 1 0 1 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 35 0 39 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 CA CT FL GA HI IL KS KY LA MA MD MI MN MS NC NH NJ NM NY OK OR PA RI SC TN UT VA WI WV DC CO ND OH WA X X RITA H HSIEH 5713842806 909 N WASHINGTON STREET SUITE 400 ALEXANDRIA VA 22314 ROBERT R RUARK PRESIDENT AND CEO 40.00 X X 279012 0 14930 EDWARD W PROBERT JR EXECUTIVE VP, DEVELOPMENT 40.00 X 241783 0 37420 STEVEN D PETERSON EXECUTIVE VP, OPERATIONS 40.00 X 200976 0 13315 ASHLEY E SAVILLE SENIOR PHILANTHROPIC OFFICER 40.00 X 156806 0 7838 STEPHANIE TRISTAN DIRECTOR OF DEVELOPMENT 40.00 X 120375 0 37223 RITA HSIEH SR. DIR OF ACCOUNTING & FINANCE 40.00 X 131756 0 17659 JEANNA ADAMS DIRECTOR, SCHOLARSHIP PROGRAMS 40.00 X 115655 0 19077 JENNIFER MCNULTY DIRECTOR OF DEVELOPMENT 40.00 X 125878 0 8649 CHRISTINE WILSON DIRECTOR OF DEVELOPMENT 40.00 X 118875 0 15305 GEORGE J TRAUTMAN III CHAIRMAN - PARTIAL YEAR 1.00 X X 0 0 0 ROBERT B NELLER CHAIRMAN 1.00 X X 0 0 0 ERIC J CANDELORI VICE CHAIRMAN 1.00 X X 0 0 0 RICHARD D STEPHENS TREASURER 1.00 X X 0 0 0 STEVEN M POST GENERAL COUNSEL 1.00 X X 0 0 0 MICHEAL P BARRETT DIRECTOR 1.00 X 0 0 0 RICHARD A BERGEN DIRECTOR 1.00 X 0 0 0 CHARLES F BOLDEN JR DIRECTOR 1.00 X 0 0 0 JON M DAVIS DIRECTOR 1.00 X 0 0 0 MIGUEL EATON DIRECTOR 1.00 X 0 0 0 GEORGE J FLYNN DIRECTOR 1.00 X 0 0 0 MATTHEW GANTZ DIRECTOR 1.00 X 0 0 0 TRACY GARRETT DIRECTOR 1.00 X 0 0 0 FRANK J GAUDIO DIRECTOR 1.00 X 0 0 0 ROBERT E JOYCE JR DIRECTOR 1.00 X 0 0 0 MARGARET G KIBBEN DIRECTOR 1.00 X 0 0 0 THOMAS J LYONS 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 JAMES MCGINTY DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 SUSAN E MORRISON DIRECTOR 1.00 X 0 0 0 DAN NELSON DIRECTOR 1.00 X 0 0 0 MELISSA D PALMISCIANO DIRECTOR 1.00 X 0 0 0 GREG PARSONS DIRECTOR 1.00 X 0 0 0 ROBERT W SCHRODER DIRECTOR 1.00 X 0 0 0 CHARLES SCIANNA DIRECTOR 1.00 X 0 0 0 PAMELA SCHMIDLE DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 ED SMITH DIRECTOR - PARTIAL YEAR 1.00 X 0 0 0 ROBERT J STEVENS DIRECTOR 1.00 X 0 0 0 CATHERINE THOMAS DIRECTOR 1.00 X 0 0 0 BERNARD J WILLETT DIRECTOR 1.00 X 0 0 0 1491116 0 171416 10 0 1 0 ANNE LEWIS STRATEGIES LLC 120 EAST 1ST STREET PAPOLLION NE 68046 DIGITAL MARKETING PROGRAM 464500 DATOCWITTEN GROUP INC 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 324874 HILL KNOWLTON STRATEGIES LLC POST OFFICE BOX 101264 ATLANTA GA 30392 CONTRACTED MEDIA SERVICES 141312 DATA AXLE INC 120 EAST 1ST STREET PAPOLLION NE 68046 DIRECT MARKING PROGRAM 127461 PATRICIA J HURLEY & ASSOCIATES INC 205 W WACKER DR STE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 122239 11 17269 8271106 9722004 1389772 18010379 2543868 2543868 39252147 39284909 -32762 -32762 -32762 2207070 8271106 1521984 685086 685086 26520 4587 21933 21933 21228504 0 0 3218125 7544824 7544824 15409 15409 938587 352143 179377 407067 2176212 987105 213412 975695 95430 43597 8942 42891 184110 82940 23675 77495 202844 87595 25422 89827 49484 46826 2658 61760 61760 452765 452765 209708 209708 671744 123749 92218 455777 468749 126453 237930 104366 173010 25375 23568 124067 235072 110435 43807 80830 123133 49937 25487 47709 289769 46667 16972 226130 323241 200277 57105 65859 47773 20781 7166 19826 41373 41373 OTHER FUNDRAISING EXP 345600 345600 DIRECT MAIL 98957 98957 82449 1973 80476 14832003 9817287 1316721 3697995 13871997 17386966 2027956 913104 19376375 16487561 145713 97039 601146 584774 1077171 1018080 105275 59091 82872617 90674268 646 0 105132 133381 119106857 126336184 480335 264493 7633028 7301082 659403 0 1330048 1851060 10102814 9416635 X 11773881 15186985 97230162 101732564 109004043 116919549 119106857 126336184 X 6396501 982380 536625 X 0 1 X 1 0 X 31886048 18807333 28786241 22566724 18010379 120056725 31886048 18807333 28786241 22566724 18010379 120056725 26201339 93855386 1120840 1391078 1637701 3301136 2543868 9994623 63323 40416 27067 10550 141356 707019 707019 130899723 0.71700 0.72010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 64633001 2454390 2669798 2257641 67499548 58097977 4610876 3786158 1862010 64633001 58925152 1022542 -414230 1435487 58097977 50083327 3679771 6330436 1168382 58925152 41715078 6564692 2983272 1179715 50083327 0.00000 0.81700 0.18300 0 0 328791 277675 51116 748380 740405 7975 59091 OBLIGATIONS UNDER CHARITABLE TRUSTS AND ANNUITIES 1222804 DEFERRED RENT 63634 PAYCHECK PROTECTION PROGRAM LOAN 564622 1851060 X 23513475 982380 38054 -52326 968108 22545367 209708 -1526571 -1316863 21228504 16257372 38054 1597023 1635077 14622295 209708 209708 14832003 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUES OF OBLIGATIONS UNDER CHARITABLE TRUSTS -52,326. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -1,521,984. GAMING EVENT EXPENSES -4,587. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 1,521,984. GAMING EVENT EXPENSES 4,587. BAD DEBTS 70,452. 0 NORTH AMERICA 0 0 GRANTS TO RECEIPIENTS LOCATED IN THE REGION 1500 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECEIPIENTS LOCATED IN THE REGION 8909 EUROPE 0 0 GRANTS TO RECEIPIENTS LOCATED IN THE REGION 5000 0 0 0 0 0 0 15409 0 15409 SCHOLARSHIPS NORTH AMERICA 1 1500 CHECK N/A N/A SCHOLARSHIPS EAST ASIA AND THE PACIFIC 2 8909 $5,000 CHECK; $3,909 WIRE N/A N/A SCHOLARSHIPS EUROPE 1 5000 CHECK 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 LN HERNDON VA 20171 EVENT MANAGEMENT 0 5261842 148281 5113561 PATRICIA J HURLEY & ASSOCIATES 205 WEST WACKER DR STE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 0 2138971 52500 2086471 THE FASHIONABLE EVENT 1101 WALNUT F HUNTINGTON BEACH CA 92648 EVENT MANAGEMENT 0 735330 18684 716646 ANNE LEWIS STRATEGIES LLC 120 EAST 1ST ST PAPOLLION NE 68046 DIGITAL ADVERTISING AND MARKETING 0 728268 142500 585768 DATA AXLE INC 120 EAST 1ST ST PAPOLLION NE 68046 DIRECT MARKETING PROGRAM 0 318563 60000 258563 GORDON C JAMES PUBLIC RELATIONS 5080 NORTH 40TH ST STE 350 PHOENIX AZ 85018 EVENT MANAGEMENT 0 246102 30800 215302 9429076 452765 8976311 AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY CHICAGO AWARDS DINNER 2138971 1450471 688500 164 60292 5675 36079 PEBBLE BEACH GOLF 1186422 1013297 173125 29738 140882 6885 368148 25 7152783 5807338 1345445 193549 310891 13707 355974 10478176 8271106 2207070 223451 512065 26267 760201 1521984 685086 26520 680 1807 2100 1 1.00000 26520 680 1807 2100 4587 21933 CT IN NJ FL VA NC 1 0 1 0 1.00000 MARINE CORPS SCHOLARSHIP FOUNDATION INC 909 N WASHINGTON STREET SUITE 400 ALEXANDRIA VA 22314 0 SEE PART IV FOR LIST OF GAMING MANA 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 2019, THE FOUNDATION PAID ADMINISTRATIVE FEES AND EXPENSE REIMBURSEMENTS TO THE FOLLOWING PROFESSIONAL FUNDRAISERS: PATRICIA J. HURLEY - $69,739 THE FASHIONAL EVENT - $56,680 CREATIVE DIRECT RESPONSE - $7,834 GORDON C. JAMES - $45,579 DATOC WITTEN - $173,602 ANNE LEWIS, LLC - $329,500 DATA AXLE - $72,461 SCHEDULE G, PART III, LINE 16 THE FOUNDATION HAD RAFFLES DURING GOLF FUNDRAISING EVENTS DURING THE YEAR. THE FOLLOWING RAFFLE MANAGERS CONTROLLED THE OVERALL OPERATION OF THE RAFFLE ACTIVITIES AT THE EVENTS, NONE OF THESE RAFFLE MANAGERS WERE COMPENSATED (VOLUNTEERS): CAROLINA CLASSIC - MAJGEN THOMAS BRAATEN CONNECTICUT GOLF - MARY CARROLL INDIANAPOLIS GOLF - DONALD VANDOWSKI JERSEY SHORE GOLF - ROBERT VALVANO TAMPA GOLF - TONY GAIN CAPITAL AREA GOLF - F. SCOTT ARNOLD 1 SCHOLARSHIP AWARDS 2338 7544824 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 1 1 X X X X 0 0 0 1 0 0 0 0 0 ROBERT R RUARK PRESIDENT AND CEO 239322 0 38502 0 1188 0 13910 0 1020 0 293942 0 0 0 EDWARD W PROBERT JR EXECUTIVE VP, DEVELOPMENT 216109 0 24900 0 774 0 9466 0 27954 0 279203 0 0 0 STEVEN D PETERSON EXECUTIVE VP, OPERATIONS 189741 0 10821 0 414 0 10135 0 3180 0 214291 0 0 0 ASHLEY E SAVILLE SENIOR PHILANTHROPIC OFFICER 151608 0 5150 0 48 0 7838 0 0 0 164644 0 0 0 STEPHANIE TRISTAN DIRECTOR OF DEVELOPMENT 117584 0 2731 0 60 0 6680 0 30543 0 157598 0 0 0 PART I, LINE 1A MRS. CHRISTINE COETZEE, THE SPOUSE OF PRESIDENT AND CEO LIEUTENANT GENERAL ROBERT RUARK, TRAVELED TO EVENTS FOR THE SCHOLARSHIP FOUNDATION IN A PROFESSIONAL CAPACITY ON FIVE OCCASIONS IN 2019. AT THESE EVENTS, MRS. COETZEE'S DEVELOPMENT OF RELATIONSHIPS WITH INVESTORS AND KEY SUPPORTERS WAS CRITICAL TO THE PROMOTION OF THE SCHOLARSHIP FOUNDATION'S MISSION AND HELPED THE ORGANIZATION ACHIEVE ITS FUNDRAISING GOALS. THE EXPENSES INCURRED WERE FLIGHTS TOTALING $2,912, NOT INCLUDED IN TAXABLE COMPENSATION. X 21 1315588 PUBLISHED MARKET VALUE X AUCTION ITEMS 15 31432 COST & SELLING PRICE 0 0 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTORS FOR SECURITIES AND NUMBER OF ITEMS FOR AUCTION. 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 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, 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 REVIEW THE FORM 990 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: CONSULTATION WITH 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. EXECUTIVE COMMITTEE REVIEWED SCOPE OF WORK, DEMANDS AND IF CEO ANNUAL GOALS WERE ACHIEVED. RECOMMENDED COMPENSATION WAS PROVIDED BY WRITTEN COMMUNICATION TO THE EXECUTIVE COMMITTEE WHICH WAS THEN DISCUSSED AND VOTED UPON FOR APPROVAL WITH EVIDENCE OF APPROVAL BEING MAINTAINED BY BOARD VICE CHAIR. THE PROCESS WAS LAST UNDERTAKEN IN FY 2020 THE PROCESS OF DETERMINING THE COMPENSATION OF OFFICERS OR 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 FY 2019. 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 -52,326. CHANGE IN ACCOUNTING POLICY 659,403. BAD DEBT -70,452.