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CHARITY REVIEW
Issued: August 2026 Expires: August 2028

Marine Corps Scholarship Foundation

Standards Not Met
Standards Not Met
8
(703) 549-0060
909 North Washington Street, Suite 400
Alexandria, VA, 22314
https://mcsf.org
📄 Full Report 🖨️ Print 📋 BBB Charity Standards

Standards For Charity Accountability

Governance

  1. Board Oversight
  2. Board Size
  3. Board Meetings
  4. Board Compensation
  5. Conflict of Interest

Measuring Effectiveness

  1. Effectiveness Policy
  2. Effectiveness Report

Finances

  1. Program Expenses
  2. Fundraising Expenses
  3. Accumulating Funds
  4. Audit Report
  5. Detailed Expense Breakdown
  6. Accurate Expense Reporting
  7. Budget Plan

Fundraising & Info

  1. Truthful Materials
  2. Annual Report
  3. Website Disclosures
  4. Donor Privacy
  5. Cause Marketing Disclosures
  6. Complaints

Marine Corps Scholarship Foundation does not meet the following 1 Standards for Charity Accountability:

Standard 8 (Program Service Expense Ratio)
Spend at least 65% of its total expenses on program activities.

MCSF does not meet this Standard because:

  • According to its audited financial statements - consolidated - for the year ended June 30, 2025, the organization spent $14,302,342 or 60% of its total expenses on programs.

In response to this report, MCSF states, in part that:

"MCSF's FY 2025 Standard 8 result reflects a change in the accounting classification of event-related expenses rather than a reduction in mission-related activities. MCSF remains focused on maximizing scholarship support for military children, continuing our practice of awarding scholarships to 100% of eligible applicants for four years each and never reducing scholarship award amounts."

Marine Corps Scholarship Foundation meets the remaining 19 Standards for Charity Accountability.

Stated Purpose:
"to provide access to education for the children of Marines, Navy Corpsmen, and religious program specialists attending post-high school, undergraduate, and career technical education programs."

Year, State Incorporated:
1962, NJ

Marine Corps Scholarship Foundation (MCSF) assists the families of United States Marines and United States Navy Corpsmen by providing their children with scholarships to attend accredited community colleges, universities, and vocational and technical institutions. The organization reports they provide need-based scholarships to military children, awarding 2,886 scholarships totaling $12.1 million, in the 2025-2026 academic year.

For the year ended June 30, 2025, Marine Corps Scholarship Foundation's program expenses were:

Scholarship programs $14,302,342
Total Program Expenses $14,302,342

Chief Executive
Edward "Ted" Probert, President and Chief Executive Officer

Compensation*
$381,621

Chair of the Board
George W. Smith, Jr.

Chair's Profession / Business Affiliation
Retired, Lieutenant General, United States Marine Corps

Board Size
27

Paid Staff Size
37

*2024 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.

Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Radio, Grant proposals, Internet, Planned giving arrangements, Cause-related marketing (affinity credit cards, consumer product sales, etc.), Cryptocurrency, Workplace Giving

Fundraising costs were 27% of related contributions. (Related contributions, which totaled $27,847,109, are donations received as a result of fundraising activities.)

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

The following information is based on Marine Corps Scholarship Foundation's audited financial statements - consolidated for the year ended June 30, 2025.

Source of Funds
Contributions $18,328,193
Investment income $15,659,296
Special events $9,518,916
License plate programs $741,172
North Carolina funds program $40,000
Total Income $44,287,577

Programs: 60% Fundraising: 29% Administrative: 11%

Total Income $44,287,577
Total expenses: $23,864,348
  Program expenses $14,302,342
  Fundraising expenses $7,034,725
  Administrative expenses $2,527,281
  Other expenses $0
Income in Excess of Expenses $20,423,229
Beginning Net Assets $162,718,651
Other Changes In Net Assets $-67,927
Ending Net Assets $183,073,953
Total Liabilities $15,777,773
Total Assets $198,851,726

Note 1: As noted in the above financial section, "other changes in net assets" refers to change in value of obligations under charitable trusts and annuities.

Note 2: According to the organization, MCSF received in-kind contributions totaling $69,892 in the form of travel ($46,776), legal services ($13,500), special event goods and services ($4,730), and special events raffle ($4,886).

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.

This report is not to be used for fundraising or promotional purposes.

RELATED CONTENT

Report completed by:
BBB Wise Giving Alliance