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← DAVID X MARKS FOUNDATION UNIVERSITY AFFAIRS

Form 990 for tax year 2022

Filed by DAVID X MARKS FOUNDATION UNIVERSITY AFFAIRS.

Totals

Total revenue
$3,144,990
Total expenses
$2,559,009
Contributions and grants received
$0
Grants paid
$2,549,009
Program services expenses (Part IX)
$2,549,009
Management and general expenses
$10,000
Fundraising expenses
$0
Program service expenses (Part III)
$2,549,009

Program services were 99.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • JAMES STATEN until 12023

    DIRECTOR

    Total calculated
    $1,995,159
    From this org
    $0
    From related orgs
    $1,916,188
    Other
    $78,971
    Hours/week
    0.25 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,524,938 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $291,250 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $48,471 related
    Filer's total
    $0 + $1,995,159 related

  • CAROL FOLT until 112722

    DIRECTOR

    Total calculated
    $4,628,109
    From this org
    $0
    From related orgs
    $3,673,614
    Other
    $954,495
    Hours/week
    0.25 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,766,635 related
    Bonus
    $0 + $850,000 related
    Other
    $0 + $1,056,979 related
    Deferred
    $0 + $931,667 related
    Nontaxable benefits
    $0 + $22,828 related
    Filer's total
    $0 + $4,628,109 related

  • MIKE BOHN until 51923

    DIRECTOR

    Total calculated
    $2,125,199
    From this org
    $0
    From related orgs
    $2,056,102
    Other
    $69,097
    Hours/week
    0.25 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,332,502 related
    Bonus
    $0 + $243,750 related
    Other
    $0 + $479,850 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $38,597 related
    Filer's total
    $0 + $2,125,199 related

  • JAMES EDDY II until 12622

    PRESIDENT / DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • STEPHEN DEL GUERCIO

    SEC / TREAS / PRES / DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • BRUCE FURNISS

    VICE PRES / SEC / DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

  • SUZANNE NORA JOHNSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • ERIK BRINK as of 72623

    DIRECTOR

    Total calculated
    $798,824
    From this org
    $0
    From related orgs
    $697,286
    Other
    $101,538
    Hours/week
    0.25 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $560,155 related
    Bonus
    $0 + $80,000 related
    Other
    $0 + $57,131 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $71,038 related
    Filer's total
    $0 + $798,824 related

  • DAVID WRIGHT as of 112822

    DIRECTOR

    Total calculated
    $868,231
    From this org
    $0
    From related orgs
    $807,003
    Other
    $61,228
    Hours/week
    0.25 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $500,741 related
    Bonus
    $0 + $200,000 related
    Other
    $0 + $106,262 related
    Deferred
    $0 + $30,500 related
    Nontaxable benefits
    $0 + $30,728 related
    Filer's total
    $0 + $868,231 related

  • JENNIFER COHEN as of 82123

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 50 related

  • JAMES EDDY III as of 12622

    TREAS / DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25

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 — 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II
NONE OF THE OFFICERS AND DIRECTORS OF THIS ORGANIZATION RECEIVED ANY COMPENSATION FROM THE FILING ORGANIZATION DURING 2022. DURING 2022, THE INDIVIDUALS REPORTED ON SCHEDULE J, PART II WERE EMPLOYEES OF THE UNIVERSITY OF SOUTHERN CALIFORNIA ("USC"), A RELATED ORGANIZATION.
FORM 990, SCHEDULE J, PART 1, LINE 4B
IN 1994 USC CREATED A 457(F) SUPPLEMENTAL RETIREMENT PLAN TO PROVIDE MAKE-UP BENEFITS TO EMPLOYEES WHOSE COMPENSATION EXCEEDED THE EARNINGS LIMITATION FOR CONTRIBUTIONS TO THE USC DEFINED CONTRIBUTION PLAN. AS OF JANUARY 1, 2005, THE PLAN WAS FROZEN AND PARTICIPANTS, WITH RESPECT TO FUTURE MAKE-UP BENEFITS, WERE NO LONGER PERMITTED TO DEFER THESE BENEFITS. CAROL FOLT: DURING CALENDAR YEAR 2022, THE PRESIDENT OF USC PARTICIPATED IN TWO RETENTION PROGRAMS. UNDER THE FIRST PLAN, A PAYMENT OF $2,000,000 (ACCRUING AT $666,667 PER FISCAL YEAR, PLUS INTEREST, BEGINNING ON JULY 1, 2021, SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE) IS SCHEDULED TO VEST AND BE PAYABLE IN 2024. A RATABLE ACCRUAL OF $666,667 FROM CALENDAR YEAR 2022 IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). UNDER THE SECOND PLAN, 10% OF THE PRESIDENT'S COMBINED BASE SALARY AND BONUS LESS THE PRESIDENT'S SECTION 401(A) CONTRIBUTION FOR THE YEAR IS DEFERRED SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE, AND SCHEDULED TO VEST (PLUS INTEREST) AND BE PAYABLE IN 2024. THE PLAN WAS EFFECTIVE STARTING IN DECEMBER 2021. A RATABLE ACCRUAL OF $234,500 FROM THE CALENDAR YEAR IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C).

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

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.

Provenance

Return type
form_990
Tax year
2022
Filed
12 September 2024
IRS schema version
2022v5.0
Source object
202412579349301306

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