The Milken Family Foundation
- Assets
- $99.0m
- Revenue
- $5.0m
- Investments
- $92.8m
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 11/1998
- Data as of
- 11/2023
- EIN
- 95-4073646
Organization Overview
The Milken Family Foundation is located in Santa Monica, CA. The organization was established in 1998. 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. 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, Milken Family Foundation generated $5.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $9.8m during the year ending 11/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Milken Family Foundation has awarded 39 individual grants totaling $7,077,307. 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 |
|---|---|---|---|
Lowell Milken Chairman & Director | 30 | $0 | |
Michael Milken President & Director | 10 | $0 | |
Ralph Finerman Sr. VP & Director | 20 | $0 | |
Lynda Resnick Director | 5 | $0 | |
Thomas Boysen Director | 5 | $0 | |
Jane Foley Sr. Vp, Milken Educator Awards | 40 | $323,917 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Execpro Information Services | 11/29/23 | $932,395 |
Execpro Services Inc | 11/29/23 | $117,492 |
Jeffrey Janeczko | 11/29/23 | $113,375 |
Roosevelt Grier | 11/29/23 | $108,000 |
Green Hasson Janks Llp | 11/29/23 | $68,170 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $169,655 |
| Dividends & Interest | $121 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,560,201 |
| Capital Gain Net Income | $2,497,362 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,317,983 |
| Total Revenue | $5,047,960 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $993,285 |
| Other employee salaries and wages | $1,309,936 |
| Pension plans, employee benefits | $636,050 |
| Interest | $0 |
| Taxes | $75,873 |
| Depreciation | $200,594 |
| Occupancy | $291,273 |
| Travel, conferences, and meetings | $11,244 |
| Printing and publications | $21,879 |
| Other expenses | $5,244,944 |
| Total operating and administrative expenses | $9,322,333 |
| Contributions, gifts, grants paid | $475,575 |
| Total expenses and disbursements | $9,797,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,000 |
| Savings and temporary cash investments | $4,864,296 |
| 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 | $92,620,393 |
| Net Land, buildings, and equipment | $364,674 |
| Other assets | $964,674 |
| Total assets | $98,977,255 |
| Accounts payable and accrued expenses | $30,815 |
| 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 | $30,815 |
Grants Awarded
Over the last fiscal year, The Milken Family Foundation has awarded $475,575 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BJE PURPOSE: PRESCHOOL - 12TH GRADE PROGRAMS | $387,500 |
ARIEL UNIVERSITY FOUNDATION PURPOSE: HIGHER ED & RESEARCH INST. & PROGS | $50,000 |
EXCEPTIONAL CHILDRENS FOUNDATION PURPOSE: COMMUNITY CENTERS & PROGRAMS | $10,875 |
SINAI TEMPLE PURPOSE: COMMUNITY CENTERS & PROGRAMS | $10,000 |
THE HELP GROUP CHILD AND FAMILY CENTER PURPOSE: COMMUNITY CENTERS & PROGRAMS | $10,000 |
ACTIVE MINDS INC PURPOSE: COMMUNITY CENTERS & PROGRAMS | $7,200 |