TORRANCE, Calif. -

Toyota detailed its latest scholarship contributions to the Marine Corps Scholarship Foundation, a program to provide assistance to the sons and daughters of Marine Corps parents who have been killed or wounded in combat or have demonstrated financial need.

On Wednesday, the automaker presented 16 scholarships that represent the 12 Toyota regional sales offices and the four Lexus area sales offices in the U.S.

Toyota reiterated that it has been a supporter of this foundation since 2004, creating an endowment of $1.65 million to provide the annual $5,000 scholarships.

Officials explained the Marine Corps Foundation is the nation's oldest and largest provider of need-based scholarships to U.S. military families. Since 1962, the foundation has provided more than 25,000 scholarships valued at more than $60 million.

For the 2010-11 academic year, foundation officials will provide 1,423 scholarships totaling $4.250 million.

"It is an honor to be involved with the Marine Corps Foundation and offer these scholarships," stated Don Esmond, senior vice president for automotive operations with Toyota Motors Sales and a former Marine Corps captain, naval aviator and helicopter pilot in Vietnam.

"It's one way we can give back to these families that sacrifice so much for our country." Esmond added.