Marine Corps Scholarship Foundation Inc

Organization Overview

Marine Corps Scholarship Foundation Inc is located in Alexandria, VA. The organization was established in 1995. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Marine Corps Scholarship Foundation Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Corps Scholarship Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2021, Marine Corps Scholarship Foundation Inc generated $34.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $15.2m during the year ending 06/2021. While expenses have increased by 0.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO HONOR MARINES BY EDUCATING THEIR CHILDREN.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE SCHEDULE OIN THE 2021-22 ACADEMIC YEAR, THE MARINE CORPS SCHOLARSHIP FOUNDATION AWARDED $9.2 MILLION TO 2,510 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.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 TIME, WE ARE MONITORING THE UNEXPECTED IMPACTS OF COVID-19 ON HIGHER EDUCATION, THE DEMAND FOR OUR SCHOLARSHIPS, AND THE ACADEMIC PLANS OF INDIVIDUAL STUDENTS.


SEE SCHEDULE OIN THE 2021-22 ACADEMIC YEAR, THE MARINE CORPS SCHOLARSHIP FOUNDATION AWARDED $9.2 MILLION TO 2,510 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.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 TIME, WE ARE MONITORING THE UNEXPECTED IMPACTS OF COVID-19 ON HIGHER EDUCATION, THE DEMAND FOR OUR SCHOLARSHIPS, AND THE ACADEMIC PLANS OF INDIVIDUAL STUDENTS.


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Financial Statements

Statement of Revenue
Federated campaigns$16,522
Membership dues$0
Fundraising events$5,930,446
Related organizations$0
Government grants $564,622
All other contributions, gifts, grants, and similar amounts not included above$11,491,467
Noncash contributions included in lines 1a–1f $118,998
Total Revenue from Contributions, Gifts, Grants & Similar$18,003,057
Total Program Service Revenue$0
Investment income $2,468,567
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $11,436,881
Net Income from Fundraising Events $2,368,016
Net Income from Gaming Activities $9,195
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $34,285,716

Grants Recieved

Over the last fiscal year, we have identified 6 grants that Marine Corps Scholarship Foundation Inc has recieved totaling $205,750.

Awarding OrganizationAmount
Timothy T Day Foundation Inc

Phoenix, AZ

PURPOSE: EDUCATION

$150,000
Quinn Emanuel Foundation

Los Angeles, CA

PURPOSE: CHARITABLE

$26,750
Urbanek Family Foundation

Menlo Park, CA

PURPOSE: UNRESTRICTED CHARITABLE DONATION

$20,000
Niamogue Foundation

Chicago, IL

PURPOSE: ANNUAL EVENT

$5,000
La Speranza Charitable Foundation

Blue Bell, PA

PURPOSE: GENERAL SUPPORT

$2,000
Tronvold Foundation

Lakewood Ranch, FL

PURPOSE: UNRESTRICTED

$2,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$67,499,548
Earnings$11,755,040
Net Contributions$641,055
Grants$2,278,601
Ending Balance$77,617,042

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