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← CALIFORNIA POLYTECHNIC STATE UNIVERSITY FOUNDATION

Form 990 for tax year 2023

Filed by CALIFORNIA POLYTECHNIC STATE UNIVERSITY FOUNDATION.

Totals

Total revenue
$74,723,223
Total expenses
$51,314,550
Contributions and grants received
$45,098,821
Grants paid
$32,927,752
Program service revenue
$0
Investment income
$29,620,888
Other revenue
$3,514
Total assets, end of year
$437,035,056
Total liabilities, end of year
$16,365,001
Net assets or fund balances, end of year
$420,670,055
Program services expenses (Part IX)
$45,799,121
Management and general expenses
$1,516,904
Fundraising expenses
$3,998,525
Program service expenses (Part III)
$45,799,121

Program services were 89.3% 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.

  • 1d · Related organizations

    $1,072,866

  • 1f · All other contributions, gifts and grants

    $44,025,955

  • 1g · Noncash contributions included above

    $3,004,830

  • 3 · Investment income

    total $12,065,043 · unrelated business $2,678 · excluded $12,062,365

  • 5 · Royalties

    total $3,514 · excluded $3,514

  • 7a · Gross sales of assets other than inventory

    securities $29,586,009 · other assets $1,073,250

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

    securities $12,323,100 · other assets $780,314

  • 7c · Gain or loss

    securities $17,262,909 · other assets $292,936

  • 7d · Net gain or loss

    total $17,555,845 · excluded $17,555,845

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $32,903,752 · program services $32,903,752

  • 2 · Grants to domestic individuals

    total $24,000 · program services $24,000

  • 11a · Fees: management

    total $16,334 · management and general $16,334

  • 11b · Fees: legal

    total $8,382 · program services $8,382

  • 11c · Fees: accounting

    total $48,702 · management and general $48,702

  • 11f · Fees: investment management

    total $573,707 · program services $573,707

  • 11g · Fees: other

    total $6,346 · management and general $6,346

  • 12 · Advertising and promotion

    total $146,729 · fundraising $146,729

  • 13 · Office expenses

    total $136,421 · management and general $38,363 · fundraising $98,058

  • 17 · Travel

    total $8,825 · management and general $8,825

  • 19 · Conferences, conventions and meetings

    total $70,523 · management and general $70,523

  • 23 · Insurance

    total $14,518 · management and general $14,518

  • 24a · Other expenses: ACADEMIC SUPPORT

    total $12,646,846 · program services $12,204,535 · management and general $442,311

  • 24b · Other expenses: PUBLIC & INSTITUTIONAL

    total $4,709,465 · program services $84,745 · management and general $870,982 · fundraising $3,753,738

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $93,370,961 · end of year $96,279,504

  • 3 · Pledges and grants receivable

    beginning of year $28,831,923 · end of year $31,608,857

  • 4 · Accounts receivable

    beginning of year $81,400 · end of year $253,699

  • 7 · Other notes and loans receivable

    beginning of year $323,000 · end of year $323,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,897 · end of year $15,622

  • 11 · Investments: publicly traded securities

    beginning of year $280,311,336 · end of year $307,924,781

  • 12 · Investments: other securities

    beginning of year $638,582 · end of year $490,540

  • 15 · Other assets

    beginning of year $91,791 · end of year $139,053

  • 17 · Accounts payable and accrued expenses

    beginning of year $242,531 · end of year $3,179,353

  • 19 · Deferred revenue

    beginning of year $82,984 · end of year $0

  • 25 · Other liabilities

    beginning of year $13,583,948 · end of year $13,185,648

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $389,754,427 · end of year $420,670,055

Mission and programs · 2023

Mission

TO PROVIDE AND AUGMENT PROGRAMS THAT ARE AN INTEGRAL PART OF THE EDUCATIONAL MISSION OF THE UNIVERSITY, PRIMARILY IN THE ACQUISITION, INVESTMENT AND ADMINISTRATION OF GIFTS AND ENDOWMENTS FOR THE BENEFIT OF THE UNIVERSITY.

Activities or mission (Part I)

THE FOUNDATION'S PURPOSE IS TO OPERATE AS AN AUXILIARY ORGANIZATION OF THE CALIFORNIA STATE UNIVERSITY BY SUPPORTING THE SCIENTIFIC, LITERARY, EDUCATIONAL AND CHARITABLE PURPOSES OF CALIFORNIA POLYTECHNIC STATE UNIVERSITY, SAN LUIS OBISPO.

  • EXPENSES IN SUPPORT OF THE EDUCATIONAL MISSION OF THE UNIVERSITY; INCLUDING INSTRUCTION, RESEARCH, MAINTENANCE, SCHOLARSHIPS AND OTHER ACADEMIC AND INSTITUTIONAL SUPPORT.

    Expenses $45,225,414 · Grants $32,927,752

  • MANAGEMENT AND INVESTMENT OF CAMPUS PROGRAM FUNDS AND ENDOWMENT FUNDS, THE EARNINGS ON WHICH ARE RESTRICTED FOR THE BENEFIT OF THE UNIVERSITY.

    Expenses $573,707

As filed on the 2023 return.

Listed in Part VII

  • ZACHARY SMITH

    CEO

    Total calculated
    $377,360
    From this org
    $0
    From related orgs
    $311,065
    Other
    $66,295
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $305,465 related
    Bonus
    $0
    Other
    $0 + $5,600 related
    Deferred
    $0 + $46,733 related
    Nontaxable benefits
    $0 + $19,562 related
    Filer's total
    $0 + $377,360 related

  • JEFFREY D ARMSTRONG

    UNIVERSITY PRESIDENT

    Total calculated
    $647,859
    From this org
    $0
    From related orgs
    $522,416
    Other
    $125,443
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $509,336 related
    Bonus
    $0
    Other
    $0 + $13,080 related
    Deferred
    $0 + $105,600 related
    Nontaxable benefits
    $0 + $19,843 related
    Filer's total
    $0 + $647,859 related

  • WILLIAM H SWANSON

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • CHARLES L HARRINGTON

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • JOHN RONCA

    SECRETARY

    Total calculated
    $0
    Hours/week
    3

  • MARC BENADIBA

    TREASURER

    Total calculated
    $272,030
    From this org
    $0
    From related orgs
    $185,190
    Other
    $86,840
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $184,470 related
    Bonus
    $0
    Other
    $0 + $720 related
    Deferred
    $0 + $59,030 related
    Nontaxable benefits
    $0 + $27,810 related
    Filer's total
    $0 + $272,030 related

  • MICHAEL ABBOTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LISA ANDERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL J APPLEGATE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PHILIP S BAILEY JR

    DIRECTOR

    Total calculated
    $66,078
    From this org
    $0
    From related orgs
    $66,078
    Other
    $0
    Hours/week
    2 + 40 related

  • STEPHEN J BARNARD PART YEAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PAUL R BONDERSON JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RICHARD BRADSHAW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LLOYD DEAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • HILARY DECESARE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHERI DEJONG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • SCOTT GAUDINEER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BASIA GILLESPIE PART YEAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CYNTHIA JACKSON-ELMOORE

    DIRECTOR

    Total calculated
    $401,585
    From this org
    $0
    From related orgs
    $335,160
    Other
    $66,425
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $327,960 related
    Bonus
    $0
    Other
    $0 + $7,200 related
    Deferred
    $0 + $46,733 related
    Nontaxable benefits
    $0 + $19,692 related
    Filer's total
    $0 + $401,585 related

  • RICHARD C JACOBSEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JENNIFER JIPSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • TAMMY KIELY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • ABEGAIL LARA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JERRY LOHR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JIM MARDEROSIAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • RYAN MARTINEZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LAURA M PICKERING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOHN F SALMONSON PART YEAR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KENRIC B STONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHRIS TRAPANI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STAN VAN VLECK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CYNTHIA VIZCAINO VILLA PART YEAR

    DIRECTOR

    Total calculated
    $385,622
    From this org
    $0
    From related orgs
    $328,908
    Other
    $56,714
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $327,828 related
    Bonus
    $0
    Other
    $0 + $1,080 related
    Deferred
    $0 + $46,733 related
    Nontaxable benefits
    $0 + $9,981 related
    Filer's total
    $0 + $385,622 related

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

None.

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

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.

  • CAL POLY FOUNDATION LLC

    REAL ESTATE AUXILIARY · CA

    Directly controlled by CALIFORNIA POLYTECHNIC STATE UNIVERSITY FOUNDATION

Related corporations and trusts

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

  • SPLIT INTEREST TRUSTS (12)

    T · CHARITABLE REMAINDER TRUSTS · CA

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202511289349302736

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