Marine Corps Scholarship Foundation Receives $6 Million in Donations and Celebrates 50 Years

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Apr 24, 2012, 11:22 ET

NEW YORK, April 24, 2012 /PRNewswire-USNewswire/ -- On April 27, the Marine Corps Scholarship Foundation, the nation's oldest and largest provider of need-based scholarships to military families, will celebrate its 50th anniversary and recognize the generosity of corporate and individual donors at the New York Leatherneck Scholarship Ball. Donors attending the New York Leatherneck Scholarship Ball, including Boeing and General Motors, will announce a cumulative $6 million in educational aid for the 2012-2013 academic year.

The Marine Corps Scholarship Foundation honors the selfless service of Marines by educating their children, with particular attention given to those whose parent has been killed or wounded in combat, or who have demonstrated financial need. Since 1962, over $67 million has been awarded in 27,000 scholarship awards. The Scholarship Foundation provides critical support to Marine families as the economy continues to recover and the ever-increasing costs of higher education significantly outpace the average enlisted Marine salary.

"Whether a Marine family is struggling in today's economy, welcoming home an injured Marine or mourning a tragic loss, we are here, providing access to educational opportunities for their children – the next generation of American leaders," said Margaret B. Davis, president and CEO of the Marine Corps Scholarship Foundation. "We are honored that corporate and civic leaders generously support our efforts to provide scholarships for sons and daughters of Marines, who sacrifice much in support of our great nation."

The Foundation's scholarships cultivate the nation's future workforce, rewarding those who embody character, leadership, and academic values needed for success in today's globalized world. In support of this goal, Jim McNerney, Chairman, President and CEO of The Boeing Company, will present a $4 million donation on behalf of the company at the Leatherneck Ball. The funded scholarships will support science, engineering, technology, and math students, which account for 40 percent of majors among the Foundation's recipients.

"Boeing is honored to give back to the Marine Corps men and women who have served our country so heroically through this enduring gift that will also strengthen our nation's competitiveness," said McNerney. "As the Marine Corps Scholarship Foundation celebrates 50 years, we are honored to be part of that amazing legacy and confident that the young people supported by our contribution will go on to do truly great things for our nation and our world."

Other significant donations that will be announced at the ball include a $1 million donation from C. Michael Armstrong, former CEO and Chairman of AT&T, who received the Semper Fidelis award in 1997 while serving as CEO and President of Hughes Electronics Corp. A $100,000 company gift from the GM Foundation will also benefit the scholarship fund.

During the ball, the Marine Corps Scholarship Foundation will pay tribute to inspiring scholarship recipients who show career promise and enjoy graduation rates double the national average. The ball will also honor several Medal of Honor recipients for their support in helping Marine families across generations. This includes Sgt. Dakota Meyer, the first living Marine to receive a Medal of Honor for actions in Afghanistan, who issued a "Challenge to America" in September 2011 to raise $2 million by the Foundation's official 50th anniversary on May 28, 2012. With donations at the Leatherneck Ball, he is expected to reach an aggregated $1.5 million as part of his goal.

About the Foundation: Celebrating its 50th year, the Marine Corps Scholarship Foundation is the nation's oldest and largest provider of need-based scholarships to U.S. military families. Since inception, the Foundation has provided more than 27,000 scholarships valued at over $67 million to Marine Corps sons and daughters whose parents have been killed or wounded in combat or have demonstrated financial need. The Scholarship Foundation has a four-star Charity Navigator rating and is proud to have been named by Independent Charities of America as 'Best in America' for demonstrating "the highest standards of public accountability, program effectiveness, and cost effectiveness." For more information on the Marine Corps Scholarship Foundation please visit www.mscf.org.

Contact:
Eugenia R. Gardner, Director, Communications & Investor Relations
Marine Corps Scholarship Foundation
(719) 433-8101
[email protected]

SOURCE Marine Corps Scholarship Foundation