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Nonprofiteer
← THE MILKEN INSTITUTE

Form 990 for tax year 2023

Filed by THE MILKEN INSTITUTE.

Totals

Total revenue
$264,659,454
Total expenses
$150,849,724
Contributions and grants received
$216,631,673
Grants paid
$50,087,825
Program service revenue
$2,105,115
Investment income
$45,221,999
Other revenue
$700,667
Total assets, end of year
$1,237,778,532
Total liabilities, end of year
$117,493,359
Net assets or fund balances, end of year
$1,120,285,173
Program services expenses (Part IX)
$129,605,196
Management and general expenses
$10,388,422
Fundraising expenses
$10,856,106
Program service expenses (Part III)
$129,605,196

Program services were 85.9% 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.

  • 1c · Fundraising events

    $6,146,000

  • 1f · All other contributions, gifts and grants

    $210,485,673

  • 1g · Noncash contributions included above

    $18,375,236

  • 2a · Program service revenue: CONFERENCES

    total $2,105,115 · related or exempt $2,105,115

  • 3 · Investment income

    total $37,611,676 · excluded $37,611,676

  • 6a · Gross rents

    real property $700,667

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $700,667

  • 6d · Net rental income or loss

    total $700,667 · excluded $700,667

  • 7a · Gross sales of assets other than inventory

    securities $7,977,978

  • 7b · Less cost or other basis and sales expenses

    securities $367,655

  • 7c · Gain or loss

    securities $7,610,323

  • 7d · Net gain or loss

    total $7,610,323 · excluded $7,610,323

  • 8a · Fundraising events: gross income

    $684,468

  • 8a · Fundraising events: contributions included on line 1c

    $6,146,000

  • 8b · Fundraising events: direct expenses

    $684,468

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $47,117,551 · program services $47,117,551

  • 2 · Grants to domestic individuals

    total $591,096 · program services $591,096

  • 3 · Grants to foreign organizations and individuals

    total $2,379,178 · program services $2,379,178

  • 5 · Compensation of officers, directors and key employees

    total $2,085,028 · program services $1,659,323 · management and general $201,208 · fundraising $224,497

  • 7 · Other salaries and wages

    total $36,951,832 · program services $29,407,294 · management and general $3,565,902 · fundraising $3,978,636

  • 8 · Pension plan contributions

    total $1,358,319 · program services $1,080,987 · management and general $131,080 · fundraising $146,252

  • 9 · Other employee benefits

    total $5,441,840 · program services $4,330,767 · management and general $525,145 · fundraising $585,928

  • 10 · Payroll taxes

    total $2,555,609 · program services $2,033,824 · management and general $246,620 · fundraising $275,165

  • 11b · Fees: legal

    total $565,726 · management and general $565,726

  • 11c · Fees: accounting

    total $249,077 · management and general $249,077

  • 11e · Fees: professional fundraising services

    total $450,000 · fundraising $450,000

  • 11f · Fees: investment management

    total $128,071 · management and general $128,071

  • 11g · Fees: other

    total $13,383,249 · program services $11,008,883 · management and general $1,334,928 · fundraising $1,039,438

  • 12 · Advertising and promotion

    total $317,285 · fundraising $317,285

  • 13 · Office expenses

    total $2,160,162 · program services $1,719,117 · management and general $208,458 · fundraising $232,587

  • 14 · Information technology

    total $7,642,012 · program services $6,081,725 · management and general $737,465 · fundraising $822,822

  • 16 · Occupancy

    total $907,065 · program services $721,868 · management and general $87,532 · fundraising $97,665

  • 17 · Travel

    total $6,394,683 · program services $5,089,067 · management and general $617,095 · fundraising $688,521

  • 19 · Conferences, conventions and meetings

    total $15,749,032 · program services $12,533,517 · management and general $1,519,803 · fundraising $1,695,712

  • 22 · Depreciation, depletion and amortization

    total $1,641,086 · program services $1,306,022 · management and general $158,367 · fundraising $176,697

  • 23 · Insurance

    total $168,901 · program services $134,416 · management and general $16,299 · fundraising $18,186

  • 24a · Other expenses: PRINTING & PUBLICATION

    total $1,621,954 · program services $1,621,954

  • 24b · Other expenses: RESEARCH

    total $511,751 · program services $407,265 · management and general $49,385 · fundraising $55,101

  • 24c · Other expenses: FILING FEES

    total $67,022 · program services $53,338 · management and general $6,468 · fundraising $7,216

  • 24d · Other expenses: PROPERTY TAX

    total $32,702 · program services $26,025 · management and general $3,156 · fundraising $3,521

  • 24e · All other expenses

    total $379,493 · program services $301,979 · management and general $36,637 · fundraising $40,877

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,703,362 · end of year $61,094,782

  • 2 · Savings and temporary cash investments

    beginning of year $276,023,737 · end of year $259,589,702

  • 3 · Pledges and grants receivable

    beginning of year $111,547,757 · end of year $112,114,908

  • 4 · Accounts receivable

    beginning of year $270,499 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,246,778 · end of year $23,632,738

  • 10a · Land, buildings and equipment: cost or other basis

    $572,884,008

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,253,525

  • 10c · Land, buildings and equipment, net

    beginning of year $427,580,651 · end of year $557,630,483

  • 11 · Investments: publicly traded securities

    beginning of year $69,528,799 · end of year $46,371,253

  • 12 · Investments: other securities

    beginning of year $165,620,238 · end of year $156,709,843

  • 15 · Other assets

    beginning of year $13,940,422 · end of year $20,634,823

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,854,344 · end of year $67,516,373

  • 18 · Grants payable

    end of year $30,016,306

  • 19 · Deferred revenue

    beginning of year $57,256,640 · end of year $19,960,680

  • 27 · Net assets without donor restrictions

    beginning of year $1,016,351,259 · end of year $1,120,285,173

Mission and programs · 2023

Mission

THE MILKEN INSTITUTE IS A NON-PROFIT, NONPARTISAN THINK TANK DETERMINED TO INCREASE GLOBAL PROSPERITY BY ADVANCING COLLABORATIVE SOLUTIONS THAT WIDEN ACCESS TO CAPITAL, CREATE JOBS, AND IMPROVE HEALTH. WE DO THIS THROUGH INDEPENDENT, DATA-DRIVE RESEARCH, ACTION-ORIENTED MEETINGS AND MEANINGFUL POLICY INITIATIVES.

Activities or mission (Part I)

TO ADVANCE SOLUTIONS THAT WIDEN ACCESS TO CAPITAL, CREATE JOBS AND IMPROVE HEALTH.

  • 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.

    Expenses $112,741,797 · Grants $50,087,825

  • 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.

    Expenses $14,560,369 · Revenue $2,105,115

  • 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.

    Expenses $2,303,030

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Richard Ditizio

    CHIEF EXECUTIVE OFFICER & PRESIDENT

    Total calculated
    $1,015,695
    From this org
    $944,689
    From related orgs
    $0
    Other
    $71,006
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $643,399
    Bonus
    $300,000
    Other
    $1,290
    Deferred
    $30,000
    Nontaxable benefits
    $41,006
    Filer's total
    $1,015,695

  • John Hunter

    COO & CFO

    Total calculated
    $576,974
    From this org
    $490,307
    From related orgs
    $0
    Other
    $86,667
    Hours/week
    40 + 6 related

    Schedule J breakdown matched by us

    Base
    $411,497
    Bonus
    $75,000
    Other
    $3,810
    Deferred
    $30,000
    Nontaxable benefits
    $56,667
    Filer's total
    $576,974

  • Rachel Goslins

    EXEC DIRECTOR - MCAAD

    Total calculated
    $542,559
    From this org
    $498,998
    From related orgs
    $0
    Other
    $43,561
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $438,308
    Bonus
    $60,000
    Other
    $690
    Deferred
    $23,000
    Nontaxable benefits
    $20,561
    Filer's total
    $542,559

  • Esther Krofah

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $530,711
    From this org
    $492,503
    From related orgs
    $0
    Other
    $38,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $392,203
    Bonus
    $100,000
    Other
    $300
    Deferred
    $22,500
    Nontaxable benefits
    $15,708
    Filer's total
    $530,711

  • Martha Mazzone

    GENERAL COUNSEL

    Total calculated
    $527,755
    From this org
    $477,194
    From related orgs
    $0
    Other
    $50,561
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $415,214
    Bonus
    $60,000
    Other
    $1,980
    Deferred
    $30,000
    Nontaxable benefits
    $20,561
    Filer's total
    $527,755

  • Sarah Sandler

    EXEC DIR-BUSINESS & PROG DEVELOPMENT

    Total calculated
    $513,525
    From this org
    $470,464
    From related orgs
    $0
    Other
    $43,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,164
    Bonus
    $175,000
    Other
    $300
    Deferred
    $22,500
    Nontaxable benefits
    $20,561
    Filer's total
    $513,525

  • Melissa Stevens

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $502,791
    From this org
    $491,994
    From related orgs
    $0
    Other
    $10,797
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $391,544
    Bonus
    $100,000
    Other
    $450
    Deferred
    $0
    Nontaxable benefits
    $10,797
    Filer's total
    $502,791

  • Michael L Klowden

    EXECUTIVE VICE CHAIRMAN

    Total calculated
    $492,359
    From this org
    $421,461
    From related orgs
    $0
    Other
    $70,898
    Hours/week
    40 + 5.3 related

    Schedule J breakdown matched by us

    Base
    $415,281
    Bonus
    $0
    Other
    $6,180
    Deferred
    $30,000
    Nontaxable benefits
    $40,898
    Filer's total
    $492,359

  • Michael Milken

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    15 + 0.6 related

  • Ralph Finerman

    TREASURER

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Richard Sandler

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 5 related

  • Dr Yvonne Chan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Mariano Guzman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Dr Freda Lewis-Hall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Gregory Milken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Lance Milken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Lori Milken

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

  • Kneeland Youngblood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3

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

  • 1a · First-class or charter travel
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 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)

PART I, LINE 7
EMPLOYEES WERE ELIGIBLE TO RECEIVE PERFORMANCE-BASED BONUSES.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MILKEN CENTER FOR ADVANCING THE AMERICAN DREAM LLC

    DC BUILDING AND MCAAD OPERATIONS · DC · income $81,539,874 · assets $653,612,513

    Directly controlled by THE MILKEN INSTITUTE

  • FOTP LLC

    TO OWN 1503-1505 PENNSYLVANIA AVE NW · DC · income $0 · assets $0

    Directly controlled by THE MILKEN INSTITUTE

  • BD2 LLC

    CHARITABLE SUPPORT FOR BIPOLAR DISORDER · DE · income $3,625,488 · assets $97,864,672

    Directly controlled by THE MILKEN INSTITUTE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MILKEN INSTITUTE ASIA CENTER

    C · FUNDRAISING & PROGRAM ACTIVITIES · SN · 100% owned · share of income $888,860 · share of assets $1,769,109

    Directly controlled by THE MILKEN INSTITUTE

  • MILKEN EUROPE LIMITED

    C · FUNDRAISING & PROGRAM ACTIVITIES · UK · 100% owned · share of income $101,093 · share of assets $428,777

    Directly controlled by THE MILKEN INSTITUTE

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349317619

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