Financial Reports

MODIFICATION TO THE USC NAVAL ROTC ALUMNI LEAGUE SCHOLARSHIP ENDOWMENT

RECITALS

Members of the NROTC Alumni League gave a total exceeding $275,000 to the University of Southern California between December 2000 and August 2024 to support the USC Naval ROTC Alumni League Scholarship Endowment (#9823304296). The Naval ROTC Board of Directors, governing the fund, and USC are requesting a modification to the fund as outlined below.

MODIFICATION AGREEMENT

1) Revised Name: The name of the fund shall now be the USC Naval ROTC Alumni League Midshipmen Success Endowment.

2) Revised Purpose: The purpose of the USC Naval ROTC Alumni League Midshipmen Success Endowment will be revised to support the following purposes:
The annual spendable income generated each year by the USC Naval ROTC Alumni League Midshipmen Success Endowment will be used to support activities contributing to the career and academic success of midshipmen enrolled at USC in the NROTC program, including but not limited to scholarships, internships, and/or expenses associated with experiential learning programs (e.g. travel, lodging, meals, etc.).

3) Except as changed in the Modification Agreement, all other terms and conditions of the Fund shall remain in effect.

4) Agreement of NROTC Board of Directors on behalf of the Donors. By proxy, Donors hereby accept this Modification of Agreement dated September 16, 2024, and agree to the terms and conditions as set forth hereinabove.

5) Agreement of USC. USC hereby accepts this Modification of Pledge Agreement dated September 16, 2024, and agrees to the terms and conditions as set forth hereinabove.