2012-07-16T15:38:33-05:00 2011-12-31 410746749 CLIFTONLARSONALLEN LLP 2900 SOUTH QUINCY ST SUITE 150 ARLINGTON VA 22206 990 2011-01-01 221905062 MARINE CORPS SCHOLARSHIP FOUNDATION INC MARI 7035490060 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 MARGARET DAVIS 7035490060 2012-07-17 1 KAREN GRIES P00078514 7039985100 2011 2016-02-24 21:20:13Z MARGARET B DAVIS 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 35876493 0 3414 X WWW.MCSF.ORG X 1962 VA TO PROVIDE POST-HIGH SCHOOL SCHOLARSHIPS TO DESERVING SONS AND DAUGHTERS OF MARINES. 31 30 35 50 0 0 10788693 13865393 0 0 3333193 758671 463818 -156661 14585704 14467403 4294576 4344900 0 0 1430532 1391680 550704 463149 1584218 1513656 2749132 7789468 8948861 6796236 5518542 42639481 47049780 1918991 3003448 40720490 44046332 X TO PROVIDE POST-HIGH SCHOOL SCHOLARSHIPS TO DESERVING SONS AND DAUGHTERS OF MARINES (BOTH CURRENT AND FORMER). AS THE OLDEST, LARGEST, FINANCIAL NEED-BASED SCHOLARSHIP PROVIDER TO MILITARY CHILDREN, THE FOUNDATION PROVIDES POST-HIGH SCHOOL SCHOLARSHIPS TO SONS AND DAUGHTERS OF MARINES AND NAVY CORPSMEN IN ORDER TO HONOR THE MILITARY SERVICE AND BUILD A STRONGER AMERICA. THE SCHOLARSHIP FOUNDATION HONORS MARINES BY EDUCATING THEIR CHILDREN. 0 0 5332988 4344900 0 FOR NEARLY 50 YEARS, THE MARINE CORPS SCHOLARSHIP FOUNDATION HAS HELPED ACCOMPLISH WHAT MANY MARINES CANNOT - ENABLING THEIR CHILDREN TO PURSUE DREAMS OF A COLLEGE EDUCATION. THE FOUNDATION HAS PROVIDED OVER $67 MILLION - IN TODAY'S DOLLARS - IN NEED-BASED SCHOLARSHIPS TO DESERVING SONS AND DAUGHTERS OF OUR MARINES, WITH PARTICULAR ATTENTION GIVEN TO CHILDREN WHOSE PARENT WAS KILLED OR WOUNDED IN ACTION. OVER 27,000 SCHOLARSHIPS HAVE HELPED TO PROVIDE POSITIVE, NEW PATHS FOR THESE YOUNG MEN AND WOMEN, WHILE HONORING OUR NATION'S BRAVE MARINES. 5332988 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 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 0 1 44 0 35 1 0 0 0 0 0 1 1 0 0 0 0 X 31 30 0 0 0 0 1 1 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT FL GA HI IL KS KY ME MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT WA WV WI MD VA X X ROBIN F KLUNG 7035490060 909 N WASHINGTON STREET NO 400 ALEXANDRIA VA 22314 X WILLIAM L NYLAND 1.00 X 0 0 0 ROBERT MAGNUS 1.00 X 0 0 0 ERIC J CANDELORI 1.00 X 0 0 0 RICHARD C HARTNACK 1.00 X X 0 0 0 KEVIN N AINSWORTH 1.00 X X 0 0 0 L MORGAN PORTER 1.00 X X 0 0 0 RONALD ARMSTRONG 1.00 X 0 0 0 CHARLES W BABCOCK 1.00 X 0 0 0 CATHERINE D BARKER 1.00 X 0 0 0 GARY J BEBAN 1.00 X 0 0 0 RICHARD A BERGEN 1.00 X 0 0 0 RICHARD BERTEA 1.00 X 0 0 0 MATTHEW J CARROLL 1.00 X 0 0 0 DEBORAH G CARSTENS 1.00 X 0 0 0 PETER DEPAOLA 1.00 X 0 0 0 H LEE DIXSON 1.00 X 0 0 0 DONALD D DROBNY 1.00 X 0 0 0 CRAIG J DUCHOSSOIS 1.00 X 0 0 0 DONALD W FAUL 1.00 X 0 0 0 NATHANIEL C FICK 1.00 X 0 0 0 PATRICK J FINNERAN 1.00 X 0 0 0 MICHAEL K HAYDE 1.00 X 0 0 0 JAN C HULY 1.00 X 0 0 0 DAVID A JONES 1.00 X 0 0 0 CARLTON W KENT 1.00 X 0 0 0 ROBERT P KUDWA 1.00 X 0 0 0 KEVIN B KUKLOK 1.00 X 0 0 0 BURRELL H LANDES 1.00 X 0 0 0 ROBERT E LUND 1.00 X 0 0 0 FREDERICK MCCORKLE 1.00 X 0 0 0 DENNIS P MORRIS 1.00 X 0 0 0 MICHAEL P MULQUEEN 1.00 X 0 0 0 JOHN M ROUSE 1.00 X 0 0 0 JOSEPH A RUSSO 1.00 X 0 0 0 CHARLES C SCIANNA 1.00 X 0 0 0 K PATRICK SIRMON 1.00 X 0 0 0 MARTIN R STEELE 1.00 X 0 0 0 SARAH M STOKES 1.00 X 0 0 0 GEORGE J TRAUTMAN 1.00 X 0 0 0 OWEN O WEST 1.00 X 0 0 0 MARGARET B DAVIS 30.00 X 243220 27025 13776 ALAN HAMMER 36.50 X 57411 0 5302 ROBIN F KLUNG EFF JULY 2011 30.00 X 51891 5766 8765 DAVID ROMLEY UNTIL NOV 2011 30.00 X 131604 43868 9896 JULIA M HILL 37.50 X 107118 0 3335 591244 76659 41074 3 0 1 0 VERIS CONSULTING INC 11710 PLAZA AMERICA DR 300 RESTON VA 20190 ACCOUNTING SERVICES 296006 CLIFTONLARSONALLEN LLP PO BOX 643637 CINCINNATI OH 45264 AUDIT/TAX SERVICES 159360 CONTACT 1 INC 910 SEVENTEENTH ST NW 400 WASHINGTON DC 20006 EMPLOYEE RECRUITING 116611 DATOCWITTEN GROUP 13145 APPLEGROVE LN HERNDON VA 20171 EVENT MANAGEMENT 115005 4 3590135 2979691 7295567 377817 13865393 643203 643203 20905741 20790273 115468 115468 115468 192069 3590135 618817 -426748 -426748 MANAGEMENT FEE 900099 270087 270087 270087 14467403 0 0 602010 4344900 4344900 517806 137674 225610 154522 692177 289407 162100 240670 28722 7590 8963 12169 72303 26202 13357 32744 80672 28323 26011 26338 54586 1665 6818 46103 459517 459517 463149 463149 224007 224007 388711 102232 168764 117715 722615 201317 359679 161619 191491 36343 70509 84639 106563 28684 35506 42373 148567 55298 59611 33658 45574 7566 13955 24053 166484 13114 130695 22675 151046 52606 50379 48061 15370 15370 MISCELLANEOUS EXPENSE 74601 67 804 73730 8948861 5332988 2031655 1584218 4470954 6599325 5193221 8044994 3065069 70147 33345 30597 142225 239632 1534666 690570 646231 844096 29071981 31192689 16455 28300 42639481 47049780 363419 471313 365784 347433 1056261 1189788 1128441 1918991 3003448 X 4731076 2925560 14714674 14424299 21274740 26696473 40720490 44046332 42639481 47049780 X 5518542 -2192700 X 0 1 1 X 0 X 11282103 8282489 6479610 10678804 13865393 50588399 11282103 8282489 6479610 10678804 13865393 50588399 5083390 45505009 857200 1064018 679679 784537 758671 4144105 331 2177 68805 153091 270087 494491 55226995 0.82400 0.75850 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 25366522 5520078 -1093788 650234 29142578 21332597 1410869 3219244 596188 25366522 16365114 2247163 3722349 10077 5740122 16584427 15705565 1717002 -365523 691930 16365114 0.00000 0.87350 0.12650 0 0 620070 266868 353202 307528 16613 290915 607068 407089 199979 844096 AMOUNTS HELD FOR OTHERS 401694 OBLIGATIONS UNDER CHARITABLE TRUSTS 726747 1128441 14467403 8948861 5518542 -2192700 -2192700 3325842 14392452 -2192700 5321447 3128747 11263705 224007 2979691 3203698 14467403 11066609 2341755 2341755 8724854 224007 224007 8948861 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, 2011 AND 2010 INCLUDE $401,694 AND $393,475, RESPECTIVELY, REPRESENTING THE PRINCIPAL OF APPROXIMATELY $109,000 AND APPRECIATION OF $292,694 AND $284,475, RESPECTIVELY, ON THE SHORT FUND. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS ON JANUARY 1, 2009. 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 2009 THROUGH 2011 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: REVENUE INCLUDED IN RETURN OF SUBORDINATE GROUP 4,702,630. FUNDRAISING EVENT EXPENSES 618,817. PART XII, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION FROM SUBORDINATE ORGANIZATIONS 2,979,691. PART XIII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES INCLUDED IN RETURN OF SUBORDINATE GROUP 1,722,938. EXPENSES OF INTERNAL EVENTS NETTED AGAINST REVENUE 618,817. X X X X X 1 GORDON C JAMES 4715 N 32ND STREET SUITE 104 PHOENIX AZ 85018 EVENT MANAGEMENT 0 1265312 56343 1208969 PATRICIA J HURLEY & ASSOCIATES 205 W WACKER DRIVE SUITE 1400 CHICAGO IL 60606 EVENT MANAGEMENT 0 1155986 66623 1089363 EVENTS PLUS 1413 WHISPERING PINES 3 HOUSTON TX 77055 EVENT MANAGEMENT 0 738375 29986 708389 DATOCWITTEN GROUP 13145 APPLEGROVE LANE HERNDON VA 20171 EVENT MANAGEMENT 0 422195 115005 307190 AMERGENT 9 CENTENNIAL DRIVE PEABODY MA 01960 DIRECT MAIL PROGRAM 0 386241 316237 70004 3968109 584194 3383915 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 ARIZONA AWARDS DINNER 1265312 1249313 15999 0 5349 0 66205 0 149086 CHICAGO DINNER 1155986 1086986 69000 0 3000 0 55448 325 44869 4 1360906 1253836 107070 0 3165 4400 106552 776 179642 3782204 3590135 192069 11514 4400 228205 1101 373597 618817 -426748 1 SCHOLARSHIP AWARDS 1636 4344900 0 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENTS APPLY FOR THE SCHOLARSHIPS AND A POINT SYSTEM IS USED TO DETERMINE THE AWARD AMOUNT TO EACH STUDENT. STUDENTS MUST PROVIDE INFORMATION TO THE ORGANIZATION INCLUDING TRANSCRIPTS, BILLS FROM THE COLLEGES, AND A STATEMENT OF USE. X X X X X X 1 0 0 0 0 0 0 0 0 MARGARET B DAVIS 204036 22671 39060 4340 124 14 11358 0 2418 0 256996 27025 0 0 DAVID ROMLEY UNTIL NOV 2011 115924 38641 10875 3625 4805 1602 6985 0 2911 0 141500 43868 0 0 PART I, LINE 4A DAVID ROMLEY - SEVERANCE - TOTAL OF $6,352 -- $4,764 FROM THE FILING ORGANIZATION (PARENT) AND $1,588 FROM THE RELATED ORGANIZATION (GROUP) X 10 377817 STOCK MARKET QUOTES 0 0 1 1 THIRD PARTY USE: 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 GENERAL COUNSEL REVIEWS THE 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 15 CONSULTATION WITH HR CONSULTANT WHO PROVIDED A SALARY SURVEY OF COMPARABLE SIZED NPOS NATIONALLY AND IN THE DC AREA, INCLUDING INFORMATION OBTAINED FROM A SPECIALIST IN CEO COMPENSATION. CONSULTATION OF MARKET DATA PROVIDED BY HR CONSULTANT AND PROFESSIONALS IN THE FIELD COUPLED WITH SCOPE AND DEMANDS OF THE JOB, DIRECTLY TO THE BOARD VICE-CHAIR. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2011 FOR THE PRESDIENT/CEO, MARGARET B. DAVIS. 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 FOR ALL OTHER OFFICERS AND KEY EMPLOYEES. THIS PROCESS WAS MOST RECENTLY UNDERTAKEN IN 2010 FOR THE DIRECTOR OF ACCOUNTING & FINANCE, ROBIN F. KLUNG. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION PUBLISHES AN ANNUAL REPORT THAT INCLUDES FINANCIAL DATA THAT IS POSTED ON THE WEBSITE. THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST STATEMENT ARE AVAILABLE UPON REQUEST. EXPLANATION FOR HOURS WORKED FORM 990, PART VII, SECTION A THE OFFICERS/BOARD MEMBERS SERVED ON MARINE CORPS SCHOLARSHIP FOUNDATION (GROUP) DO NOT RECEIVE COMPENSATION. THEY ARE TO RECEIVE COMPENSATION FROM MARINE CORPS SCHOLARSHIP FOUNDATION (PARENT) ONLY. ALL DIRECTORS DEVOTED ONE HOUR TO EACH ENTITY, MARINE CORPS SCHOLARSHIP FOUNDATION (PARENT) AND MARINE CORPS SCHOLARSHIP FOUNDATION (GROUP). ALL OFFICERS/HIGHEST COMPENSATED EMPLOYEE DEVOTED THE FOLLOWING HOURS TO EACH ENTITY: - MARGARET DAVIS, PRESIDENT/CEO - 30 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (PARENT), 7.5 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (GROUP) - ALAN HAMMER, SECRETARY - 36.5 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (PARENT), 1 HOUR/MARINE CORPS SCHOLARSHIP FOUNDATION (GROUP) - ROBIN F. KLUNG, DIRECTOR OF ACCOUNTING & FINANCE - 30 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (PARENT), 7.5 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (GROUP) - DAVID ROMLEY, VP - 30 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (PARENT), 7.5 HOURS/MARINE CORPS SCHOLARSHIP FOUNDATION (GROUP) CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -2,192,700.