The Milken Institute
- Assets
- $1.2b
- Revenue
- $264.7m
- Investments
- $156.7m
- Employees
- 323
- Location
- Santa Monica, CA
- Founding
- 05/1991
- Data as of
- 12/2023
- EIN
- 95-4240775
Organization Overview
The Milken Institute is located in Santa Monica, CA. The organization was established in 1991. According to its NTEE Classification (O53) the organization is classified as: Youth Development - Business, under the broad grouping of Youth Development and related organizations. As of 12/2023, Milken Institute employed 323 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milken Institute 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 12/2023, Milken Institute generated $264.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $150.8m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Milken Institute has awarded 65 individual grants totaling $59,431,183. 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.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE SOLUTIONS THAT WIDEN ACCESS TO CAPITAL, CREATE JOBS AND IMPROVE HEALTH.
Describe the Organization's Program Activity:
THE MILKEN INSTITUTE PURSUES ITS MISSION THROUGH A RANGE OF PROGRAMMATIC ACTIVITIES IN OUR CENTERS.MI HEALTH-FASTERCURES WORKS TO IMPROVE THE MEDICAL RESEARCH SYSTEM-- TO CLEAR ROADBLOCKS THAT PREVENT MEDICAL BREAKTHROUGHS FROM REACHING PATIENTS SOONER. ITS MISSION IS TO ACCELERATE THE PROGRESS OF DISCOVERY AND DEVELOPMENT OF MEDICAL SOLUTIONS THROUGH PROGRAMS THAT EDUCATE STAKEHOLDERS, AMPLIFY BEST PRACTICES, AND CREATE OPPORTUNITIES FOR LEADERS ACROSS SECTORS TO COME TOGETHER AND EFFECT CHANGE.THE MI FINANCE PROMOTES FINANCIAL MARKET UNDERSTANDING AND WORKS TO EXPAND ACCESS TO CAPITAL, STRENGTHEN - AND DEEPEN - FINANCIAL MARKETS, AND DEVELOP INNOVATIVE FINANCIAL SOLUTIONS TO THE MOST PRESSING GLOBAL CHALLENGES.THE MILKEN INSTITUTE ASIA CENTER, BASED IN SINGAPORE, ANALYZES THE DEMOGRAPHIC TRENDS, TRADE RELATIONSHIPS AND CAPITAL FLOWS THAT WILL DEFINE THE FUTURE. IT PROVIDES RESEARCH AND THOUGHT LEADERSHIP THAT CAN ASSIST GOVERNMENTS, INVESTORS AND INDUSTRY AS THE ASIAN CAPITAL MARKETS AND INDUSTRIES RAPIDLY EXPAND.MI HEALTH-PUBLIC HEALTH USES APPLIED RESEARCH, ECONOMICS, POLICY AND COMMUNICATIONS TO SOLVE PUBLIC HEALTH CHALLENGES. CPH REACHES OUT, CONVENES AND COLLABORATES WITH LIKE-MINDED INSTITUTIONS AND THOUGHT LEADERS IN BUSINESS, GOVERNMENT, PHILANTHROPY, EDUCATION AND THE MEDIA TO SHAPE SYSTEM-LEVEL SOLUTIONS TO THE WORLD'S MOST URGENT HEALTH CHALLENGES.THE MISSION OF MI HEALTH-FUTURE OF AGING IS TO IMPROVE LIVES AND STREGTHEN SOCIETIES BY PROMOTING HEALTHY, PRODUCTIVE AND PURPOSEFUL AGING.THE MI PHILANTHROPY WORKS TO MAXIMIZE RETURN ON PHILANTHROPIC INVESTMENT BY ENSURING THAT INNOVATION USED TO ADDRESS ONE SOCIAL ISSUE IS TRANSLATED TO ANOTHER, BEST PRACTICES AND METRICS GUIDE NEW AND EXISTING GIVING PROGRAMS, AND RESOURCES ARE INVESTED TO OPTIMIZE OUTCOMES.MILKEN SCHOLARS PROGRAM PROVIDES SCHOLARSHIP SUPPORT, EXTENSIVE TRAINING AND MENTORING TO COLLEGE STUDENTS WHO ARE GENERALLY OF MODEST TO MIDDLE INCOME AND ARE SELECTED AFTER A RIGOROUS PROCESS. THE PROGRAM WAS APPROVED AS A SCHOLARSHIP GRANTING PROGRAM BY THE INTERNAL REVENUE SERVICE WHILE IT WAS OPERATED BY MILKEN FAMILY FOUNDATION.BD2 WAS FOUNDED TO PROVIDE FUNDING TO SUPPORT ACADEMIC AND MEDICAL RESEARCHERS TO FURTHER LEARNING RELATED TO BIPOLAR DISORDER.
THE MILKEN INSTITUTE ACTIVELY ENGAGES AND EDUCATES LEADERS IN BUSINESS, SEMINARS AND CONFERENCES RELATED TO ITS CHARITABLE PURPOSE. THESE INCLUDE: GLOBAL CONFERENCE, FUTURE OF HEALTH SUMMIT, ASIA SUMMIT, MIDDLE EAST AND AFRICA SUMMIT. THE SENIOR STAFF AND FELLOWS SPEAK REGULARLY AT EVENTS ACROSS THE UNITED STATES AND AROUND THE WORLD. THEY ARE AVAILABLE FOR SPEAKING AT CONFERENCES AND SEMINARS ON A VARIETY OF TOPICS.
THE MILKEN INSTITUTE PURSUES ITS MISSION THROUGH APPLIED ECONOMIC RESEARCH AND PUBLISHES THE MILKEN INSTITUTE REVIEW - A QUARTERLY MAGAZINE THAT PROVIDES A FORUM FOR ANALYSIS AND COMMENTARY ON U.S. AND GLOBAL ECONOMIC POLICY AND PRACTICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Ditizio Chief Executive Officer & President | OfficerTrustee | 40 | $944,689 |
John Hunter COO & CFO | Officer | 40 | $490,307 |
Rachel Goslins Exec Director - Mcaad | 40 | $498,998 | |
Esther Krofah Executive Vice President | 40 | $492,503 | |
Martha Mazzone General Counsel | 40 | $477,194 | |
Sarah Sandler Exec Dir-Business & Prog Development | 40 | $470,464 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James G Davis Construction Corporation Construction | 12/30/23 | $17,204,885 |
The John Akridge Company Construction And Property Management | 12/30/23 | $76,738,144 |
Vision Matrix Productions Inc Event Production | 12/30/23 | $7,187,872 |
4wall Entertainment Inc Entertainment & Production | 12/30/23 | $5,010,130 |
Rockwell Architecture Planning And Desig Architecture And Construction | 12/30/23 | $3,140,222 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,146,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $210,485,673 |
| Noncash contributions included in lines 1a–1f | $18,375,236 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $216,631,673 |
| Total Program Service Revenue | $2,105,115 |
| Investment income | $37,611,676 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $700,667 |
| Net Gain/Loss on Asset Sales | $7,610,323 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $264,659,454 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,117,551 |
| Grants and other assistance to domestic individuals. | $591,096 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,379,178 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,085,028 |
| Compensation of current officers, directors, key employees. | $201,208 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $36,951,832 |
| Pension plan accruals and contributions | $1,358,319 |
| Other employee benefits | $5,441,840 |
| Payroll taxes | $2,555,609 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $565,726 |
| Fees for services: Accounting | $249,077 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $450,000 |
| Fees for services: Investment Management | $128,071 |
| Fees for services: Other | $13,383,249 |
| Advertising and promotion | $317,285 |
| Office expenses | $2,160,162 |
| Information technology | $7,642,012 |
| Royalties | $0 |
| Occupancy | $907,065 |
| Travel | $6,394,683 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,749,032 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,641,086 |
| Insurance | $168,901 |
| All other expenses | $379,493 |
| Total functional expenses | $150,849,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,094,782 |
| Savings and temporary cash investments | $259,589,702 |
| Pledges and grants receivable | $112,114,908 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $23,632,738 |
| Net Land, buildings, and equipment | $557,630,483 |
| Investments—publicly traded securities | $46,371,253 |
| Investments—other securities | $156,709,843 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,634,823 |
| Total assets | $1,237,778,532 |
| Accounts payable and accrued expenses | $67,516,373 |
| Grants payable | $30,016,306 |
| Deferred revenue | $19,960,680 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $117,493,359 |
| Net assets without donor restrictions | $1,120,285,173 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,237,778,532 |
Grants Awarded
Over the last fiscal year, The Milken Institute has awarded $47,107,466 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI PURPOSE: BIPOLAR DISORDER RESEARCH | $4,912,044 |
THE BROAD INSTITUTE INC PURPOSE: BIPOLAR DISORDER RESEARCH | $9,911,455 |
YALE UNIVERSITY PURPOSE: BIPOLAR DISORDER RESEARCH | $4,412,049 |
THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY PURPOSE: BIPOLAR DISORDER RESEARCH | $4,412,049 |
NEW YORK GENOME CENTER INC PURPOSE: BIPOLAR DISORDER RESEARCH | $4,411,628 |
UC REGENTS-UCLA PURPOSE: BIPOLAR DISORDER RESEARCH | $2,212,049 |