Form 990 for tax year 2024
Filed by UC BERKELEY MANAGEMENT COMPANY.
Totals
- Total revenue
- $5,928,330
- Total expenses
- $5,928,330
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $5,928,330
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $0
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $0
- Program services expenses (Part IX)
- $5,253,526
- Management and general expenses
- $674,804
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $5,253,526
Program services were 88.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: Investment Management Services
total $5,928,330 · related or exempt $5,928,330
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,059,835 · program services $1,059,835
-
7 · Other salaries and wages
total $2,632,125 · program services $2,482,612 · management and general $149,513
-
8 · Pension plan contributions
total $265,068 · program services $245,631 · management and general $19,437
-
9 · Other employee benefits
total $85,366 · program services $83,627 · management and general $1,739
-
10 · Payroll taxes
total $194,511 · program services $181,139 · management and general $13,372
-
11a · Fees: management
total $425,922 · management and general $425,922
-
11b · Fees: legal
total $166,792 · program services $166,792
-
11c · Fees: accounting
total $35,189 · management and general $35,189
-
11f · Fees: investment management
total $434,721 · program services $434,721
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
13 · Office expenses
total $44,372 · program services $41,711 · management and general $2,661
-
14 · Information technology
total $104,965 · program services $98,667 · management and general $6,298
-
16 · Occupancy
total $251,979 · program services $236,860 · management and general $15,119
-
17 · Travel
total $134,923 · program services $134,923
-
23 · Insurance
total $92,562 · program services $87,008 · management and general $5,554
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
end of year $0
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
Mission and programs · 2024
Mission
The primary purpose of Berkeley Endowment Management Company ("BEMCO") is to allocate, invest, and manage the general endowment pool of the University of California, Berkeley Foundation ("UCBF").
Activities or mission (Part I)
Berkeley Endowment Management Company ("BEMCO") provides professional management of endowment donations: See schedule O for more information given to the University of California Berkeley ("UCB") foundation to benefit UCB.
-
BEMCO manages the investment of endowment funds that have been gifted to the University of California, Berkeley Foundation in support of UC Berkeley's mission of teaching, research, and public service.
Expenses $5,253,526 · Revenue $5,928,330
As filed on the 2024 return.
Listed in Part VII
-
Cyrus Hadidi
Chair
- Total calculated
- $0
- Hours/week
- 1
-
Diana Strandberg
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Ben Bisconti
Director
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth Obershaw
Director
- Total calculated
- $0
- Hours/week
- 1
-
John Jenks
Director
- Total calculated
- $0
- Hours/week
- 1
-
Nadine Tang
Director
- Total calculated
- $0
- Hours/week
- 1
-
David McAuliffe
President & Chief Investment Officer
- Total calculated
- $1,041,915
- From this org
- $947,222
- From related orgs
- $0
- Other
- $94,693
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $841,597
- Bonus
- $105,625
- Other
- $0
- Deferred
- $44,850
- Nontaxable benefits
- $49,843
- Filer's total
- $1,041,915
-
Nancy Lubich McKinney
Treasurer
- Total calculated
- $440,915
- From this org
- $0
- From related orgs
- $371,264
- Other
- $69,651
- Hours/week
- 8 + 32 related
Schedule J breakdown matched by us
- Base
- $0 + $371,264 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $50,291 related
- Nontaxable benefits
- $0 + $19,360 related
- Filer's total
- $0 + $440,915 related
-
Catherine Nguyen
Managing Director of Operations
- Total calculated
- $460,446
- From this org
- $390,275
- From related orgs
- $0
- Other
- $70,171
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $250,595
- Bonus
- $139,680
- Other
- $0
- Deferred
- $44,850
- Nontaxable benefits
- $25,321
- Filer's total
- $460,446
-
David Bahr
Managing Director
- Total calculated
- $588,812
- From this org
- $540,399
- From related orgs
- $0
- Other
- $48,413
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $351,237
- Bonus
- $189,162
- Other
- $0
- Deferred
- $44,357
- Nontaxable benefits
- $4,056
- Filer's total
- $588,812
-
Katherine Swaim
Associate
- Total calculated
- $221,753
- From this org
- $186,193
- From related orgs
- $0
- Other
- $35,560
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $135,753
- Bonus
- $50,440
- Other
- $0
- Deferred
- $24,582
- Nontaxable benefits
- $10,978
- Filer's total
- $221,753
-
Melody Ing
Managing Director
- Total calculated
- $700,038
- From this org
- $641,098
- From related orgs
- $0
- Other
- $58,940
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $405,898
- Bonus
- $235,200
- Other
- $0
- Deferred
- $44,850
- Nontaxable benefits
- $14,090
- Filer's total
- $700,038
-
Taylor Hanson Rhoads
Senior Operations Analyst
- Total calculated
- $184,278
- From this org
- $143,367
- From related orgs
- $0
- Other
- $40,911
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $120,597
- Bonus
- $22,770
- Other
- $0
- Deferred
- $19,040
- Nontaxable benefits
- $21,871
- Filer's total
- $184,278
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 7 Non-fixed payments
- CERTAIN INDIVIDUALS LISTED ON SCHEDULE J, PART II RECEIVED DISCRETIONARY NONFIXED PAYMENTS. THESE AMOUNTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN B (II) WHERE APPLICABLE.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(c)(3) · Support UC Berkeley · CA
Directly controlled by UCB
-
University of California Berkeley
115 · Education · CA
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 16 May 2026
- IRS schema version
- 2024v5.1
- Source object
- 202601359349316565
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