Marine Corps League Foundation Inc
- Assets
- $1.7m
- Revenue
- $157.2k
- Investments
- $323.5k
- Employees
- 0
- Location
- Stafford, VA
- Founding
- 05/1990
- Data as of
- 04/2023
- EIN
- 54-1537899
Organization Overview
Marine Corps League Foundation Inc is located in Stafford, VA. The organization was established in 1990. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Corps League 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 04/2023, Marine Corps League Foundation Inc generated $157.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.9%) each year. All expenses for the organization totaled $163.8k during the year ending 04/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ADMINISTRATION OF HUMANITARIAN AID, SCHOLARSHIP DISASTER RELIEF AND YOUTH FUND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARD SCHOLARSHIPS TO QUALFIED RECIPIENTS AS DETERMINED BY THE MARINE CORPS LEAGUE SCHOLARSHIP COMMITTEE. FOR THE YEAR ENDING APRIL 30, 2023 115 SCHOLARSHIPS TOTALING $104,600 WERE AWARDED.
TO PROVIDE FUNDING THAT SUPPORTS PHYSICAL FITNESS, GOOD CITIZENSHIP AND LEADERSHIP IN YOUTH AS WELL AS TO RECOGNIZE STUDENTS AND COACHES WHO PARTICIPATE IN THE PROGRAM.
PROVIDED HUMANITARIAN AID TO MARINES AND FAMILIES OF MARINES WHO ARE IN DIFFICULT SITUATIONS. THIS YEAR 7 INDIVIDUALS AND FAMILIES WERE ASSISTED.
HOMES FOR HEROES PROVIDES RENT / MORTAGE SUPPORT FOR MARINES WHO ARE STRUGGLING TO MAKE PAYMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard Schaeffer President | OfficerTrustee | 5 | $0 |
Gerard Devlin Vice President | OfficerTrustee | 0.5 | $0 |
Harry Mccann Secretary | OfficerTrustee | 1 | $0 |
William Miller Treasurer | OfficerTrustee | 7 | $0 |
Polly Weidenkopf Director | Trustee | 0.5 | $0 |
Bo Durham Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,301 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $65,223 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $66,524 |
| Total Program Service Revenue | $0 |
| Investment income | $86,618 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,002 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $157,182 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $131,298 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $273 |
| Office expenses | $213 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,740 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $797 |
| Insurance | $0 |
| All other expenses | $207 |
| Total functional expenses | $163,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,116 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,359 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $362 |
| Investments—publicly traded securities | $1,355,843 |
| Investments—other securities | $323,502 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,353 |
| Total assets | $1,726,535 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,457,683 |
| Net assets with donor restrictions | $268,852 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,726,535 |
Grants Awarded
Over the last fiscal year, Marine Corps League Foundation Inc has awarded $16,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES MARINES YOUTH FOUNDATION INC PURPOSE: TO PROVIDE SUPPORT FOR THE MARINE YOUTH FOUNDATION YOUTH PHYSICAL FITNESS PROGRAM. | $10,000 |
MARINE MILITARY ACADEMY PURPOSE: FUNDS A PORTION OF THE COST OF ONE CADET ENROLLED AT THE MARINE MILITARY ACADEMY FROM THE CHESTY PULLER SCHOLARSHIP TRUST. | $6,500 |