Lowell Milken Family Foundation
- Assets
- $140.0m
- Revenue
- $15.4m
- Investments
- $131.8m
- Employees
- 0
- Location
- Santa Monica, CA
- Founding
- 01/1987
- Data as of
- 10/2023
- EIN
- 95-4078354
Organization Overview
Lowell Milken Family Foundation is located in Santa Monica, CA. The organization was established in 1987. 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. Lowell 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 10/2023, Lowell Milken Family Foundation generated $15.4m 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 (10.9%) each year. All expenses for the organization totaled $14.8m during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Lowell Milken Family Foundation has awarded 185 individual grants totaling $76,361,840. 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 |
|---|---|---|---|
Sarah Haufrect VP Programs & Communications | 40 | $56,250 | |
Lowell Milken President, Director | 35 | $0 | |
Ryan Milken Executive Vice President, Director | 30 | $0 | |
David Milken Vice President, Director | 10 | $0 | |
Jeremy Milken Vice President, Director | 10 | $0 | |
Jeff Green Assistant Secretary, Director | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Milken Family Foundation | 10/30/23 | $110,000 |
Loyal Design | 10/30/23 | $85,750 |
Wilson Delang Construction Group | 10/30/23 | $78,102 |
Sarah Haufrect | 10/30/23 | $52,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,038,329 |
| Interest on Savings | $416,139 |
| Dividends & Interest | $590,553 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $8,750,036 |
| Capital Gain Net Income | $8,648,740 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,654,359 |
| Total Revenue | $15,449,416 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $56,250 |
| Other employee salaries and wages | $207,757 |
| Pension plans, employee benefits | $33,406 |
| Interest | $0 |
| Taxes | $173,694 |
| Depreciation | $12,494 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $17,236 |
| Printing and publications | $0 |
| Other expenses | $206,754 |
| Total operating and administrative expenses | $1,171,479 |
| Contributions, gifts, grants paid | $13,606,550 |
| Total expenses and disbursements | $14,778,029 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,309 |
| Savings and temporary cash investments | $7,942,782 |
| 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 | $124,214,176 |
| Net Land, buildings, and equipment | $162,416 |
| Other assets | $0 |
| Total assets | $139,992,783 |
| Accounts payable and accrued expenses | $10,000 |
| 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 | $10,000 |
Grants Awarded
Over the last fiscal year, Lowell Milken Family Foundation has awarded $21,805,550 in support to 48 organizations.
| Grant Recipient | Amount |
|---|---|
UCLA FOUNDATION - SCHOOL OF LAW PURPOSE: HIGHER ED & RESEARCH INST. & PROGS | $4,975,000 |
NATIONAL PHILANTHROPIC TRUST PURPOSE: COMMUNITY CENTERS & PROGRAMS | $1,250,000 |
AMERICAN FRIENDS OF ARIEL PURPOSE: HIGHER ED & RESEARCH INST. & PROGS | $1,050,000 |
STEPHEN WISE TEMPLE PURPOSE: PRESCHOOL - 12TH GRADE PROGRAMS | $1,022,000 |
NAMI WESTSIDE LOS ANGELES PURPOSE: HUMAN SERVICE PROGRAMS | $815,000 |
JERUSALEM CENTER FOR PUBLIC AFFAIRS PURPOSE: HIGHER ED & RESEARCH INST. & PROGS | $500,000 |