Michael And Lori Milken Family Foundation
- Assets
- $369.0m
- Revenue
- $27.5m
- Investments
- $356.6m
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 01/2018
- Data as of
- 11/2023
- EIN
- 82-1927087
Organization Overview
Michael And Lori Milken Family Foundation is located in Santa Monica, CA. The organization was established in 2018. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michael And Lori Milken Family Foundation 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 11/2023, Michael And Lori Milken Family Foundation generated $27.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $24.5m during the year ending 11/2023. While expenses have increased by 9.5% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Michael And Lori Milken Family Foundation has awarded 430 individual grants totaling $90,415,657. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Milken Trustee | 5 | $0 | |
Lori Milken Trustee | 5 | $0 | |
Richard Sandler Co-Trustee | 10 | $275,000 | |
Gregory Milken Co-Trustee | 5 | $0 | |
Lance Milken Co-Trustee | 5 | $0 | |
Bari Milken Co-Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Milken Family Foundation | 11/29/23 | $887,563 |
Michael Klowden | 11/29/23 | $225,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,201,236 |
| Interest on Savings | $1,272,746 |
| Dividends & Interest | $70,021 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,766,555 |
| Capital Gain Net Income | $6,620,997 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,160,767 |
| Total Revenue | $27,471,325 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $275,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $181,719 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $207 |
| Total operating and administrative expenses | $1,641,523 |
| Contributions, gifts, grants paid | $22,836,303 |
| Total expenses and disbursements | $24,477,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,019 |
| Savings and temporary cash investments | $12,238,415 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $353,455,112 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $369,013,261 |
| Accounts payable and accrued expenses | $128,576 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $128,576 |
Grants Awarded
Over the last fiscal year, Michael And Lori Milken Family Foundation has awarded $26,676,303 in support to 96 organizations.
| Grant Recipient | Amount |
|---|---|
MILKEN INSTITUTE PURPOSE: HIGHER ED & RESEARCH INST. & PROGS | $18,956,703 |
PROSTATE CANCER FOUNDATION PURPOSE: PROSTATE CANCER RESEARCH | $1,158,000 |
LOS ANGELES BALLET PURPOSE: CULTURAL, LIBRARIES & MUSEUMS | $455,000 |
AMERICAN EXCHANGE PROJECT PURPOSE: PRESCHOOL - 12TH GRADE PROGRAMS | $250,000 |
OWNERSHIP WORKS PURPOSE: COMMUNITY CENTERS & PROGRAMS | $250,000 |
WINDWARD SCHOOL PURPOSE: PRESCHOOL - 12TH GRADE PROGRAMS | $200,000 |