Marine Corps Scholarship Foundation Inc

Nonprofit profile at a glance

EIN
221905062
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Alexandria, VA, USA
Phone
7035490060
Rating
76
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$39,359,324
Expenses
$22,193,571
Assets
$194,122,792
Liabilities
$15,641,116

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

39 people listed

Executive titles in this filing

  • EDWARD PROBERT (PRESIDENT AND CEO)

Highest reported compensation

  • EDWARD PROBERT (PRESIDENT AND CEO): $381,621 total reported compensation
  • SARAH TONIZZO (CHIEF FINANCIAL OFFICER): $268,151 total reported compensation
  • HAROLD VAN OPDORP (CHIEF OPERATING OFFICER): $245,247 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule othe 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, and religious program specialists attending post-high school, undergraduate, and career technical education programs. Throughout our history, we have awarded more than 60,000 scholarships valued at more than $235 million. Every qualified student who has applied has received aid.

What it reported doing in 2024

For the 2025-2026 academic year, the marine corps scholarship foundation awarded $12.1 million to 2,886 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 parents, is highlighted in their academic accomplishments. They graduate at a rate of 91% (compared to 54% nationally), demonstrating that our investment in their education pays off. With 63% of our recipients reporting little to no debt at graduation (compared to an average student debt of $30,000 upon graduation nationally), we are confident that our scholarship support makes a significant impact in their lives after graduation.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 83% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 83
  • Accountability: 98
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58%; rating input score 58
  • Program expense ratio: 63.6%; rating input score 64
  • Fundraising efficiency: $4.76 raised per $1 spent on fundraising; rating input score 19; 19th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Pass
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.3%; rating input score 96; 30th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 43.6%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 8.75; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 8.3%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 42nd percentile among comparable filings
  • Asset growth: 10.1% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 58% of revenue deployed · 63.6% of spending went to programs
  • Governance: 26 of 27 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $14.1M in reported program spending
  • Leadership: top reported pay $382K · 39 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.9M reported
  • Consistency: 41 of 41 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Financial Efficiency: Fundraising efficiency scored 19/100.
  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 28/100.