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← THE UCLA FOUNDATION

Form 990 for tax year 2023

Filed by THE UCLA FOUNDATION.

Totals

Total revenue
$722,471,550
Total expenses
$505,905,147
Contributions and grants received
$476,327,548
Grants paid
$443,017,154
Program service revenue
$1,750,625
Investment income
$244,393,377
Other revenue
$0
Total assets, end of year
$6,010,184,035
Total liabilities, end of year
$501,735,465
Net assets or fund balances, end of year
$5,508,448,570
Program services expenses (Part IX)
$458,217,846
Management and general expenses
$47,687,301
Fundraising expenses
$0
Program service expenses (Part III)
$458,217,846

Program services were 90.6% 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.

  • 1f · All other contributions, gifts and grants

    $476,327,548

  • 1g · Noncash contributions included above

    $35,360,622

  • 2a · Program service revenue: ENDOWED FUND MGMT SERVICE FEES

    total $1,714,020 · related or exempt $1,053,838 · unrelated business $660,182

  • 2b · Program service revenue: UNENDOWED FUND MGMT SERVICE FEES

    total $36,605 · related or exempt $7,671 · unrelated business $28,934

  • 3 · Investment income

    total $122,604,166 · related or exempt $0 · unrelated business -$19,052,233 · excluded $141,656,399

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $1,604,641,609 · other assets $2,150,000

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

    securities $1,482,852,398 · other assets $2,150,000

  • 7c · Gain or loss

    securities $121,789,211

  • 7d · Net gain or loss

    total $121,789,211 · related or exempt $0 · unrelated business $0 · excluded $121,789,211

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $443,017,154 · program services $443,017,154

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $16,771 · program services $16,411 · management and general $360 · fundraising $0

  • 11c · Fees: accounting

    total $110,456 · program services $0 · management and general $110,456 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $47,028,664 · program services $0 · management and general $47,028,664 · fundraising $0

  • 11g · Fees: other

    total $528,995 · program services $267,740 · management and general $261,255 · fundraising $0

  • 12 · Advertising and promotion

    total $2,438 · program services $2,438 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $65,100 · program services $6,342 · management and general $58,758 · fundraising $0

  • 14 · Information technology

    total $81,781 · program services $36,221 · management and general $45,560 · fundraising $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $32,967 · program services $1,862 · management and general $31,105 · fundraising $0

  • 17 · Travel

    total $21,962 · program services $8,601 · management and general $13,361 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $231,484 · program services $120,457 · management and general $111,027 · fundraising $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $1,109 · program services $1,109 · management and general $0 · fundraising $0

  • 24a · Other expenses: ENDOWED POOL DISTRIBUTIONS

    total $8,669,317 · program services $8,669,317 · management and general $0 · fundraising $0

  • 24b · Other expenses: UNENDOWED POOL DISTRIBUTIONS

    total $6,066,100 · program services $6,066,100 · management and general $0 · fundraising $0

  • 24c · Other expenses: MISCELLANEOUS EXPENSE

    total $31,026 · program services $4,271 · management and general $26,755 · fundraising $0

  • 24d · Other expenses: UNRELATED BUSINESS INCOME TAX

    total -$177 · program services -$177 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,504,580 · end of year $806,605

  • 2 · Savings and temporary cash investments

    beginning of year $5,140,393 · end of year $4,268,601

  • 3 · Pledges and grants receivable

    beginning of year $382,711,795 · end of year $371,230,392

  • 4 · Accounts receivable

    beginning of year $23,624,840 · end of year $33,559,895

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $250,000 · end of year $250,000

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year -$360,228 · end of year -$1,091,816

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

    $23,685,255

  • 10c · Land, buildings and equipment, net

    beginning of year $19,975,255 · end of year $23,685,255

  • 11 · Investments: publicly traded securities

    beginning of year $258,440,480 · end of year $394,403,822

  • 12 · Investments: other securities

    beginning of year $4,849,196,900 · end of year $5,177,366,326

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $4,702,975 · end of year $5,704,955

  • 17 · Accounts payable and accrued expenses

    beginning of year $899,791 · end of year -$1,802,548

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $2,704,681 · end of year $2,292,147

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $381,954,274 · end of year $393,695,106

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $84,239,880 · end of year $107,550,760

  • 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 $5,076,388,364 · end of year $5,508,448,570

Mission and programs · 2023

Mission

THE UCLA FOUNDATION IS THE GIVING, RECEIVING, AND INVESTING ARM OF THE UCLA CAMPUS. THE FOUNDATION ENABLES PRIVATE DONORS TO HELP BUILD, SUSTAIN AND ADVANCE ONE OF THE WORLD'S FINEST ACADEMIC AND RESEARCH INSTITUTIONS. PRIVATE PHILANTHROPY PROVIDES THE MARGIN OF EXCELLENCE THAT MAKES UCLA STAND OUT AND STAND ABOVE THE REST.

Activities or mission (Part I)

THE MISSION OF THE UCLA FOUNDATION IS TO ACTIVELY PROMOTE PHILANTHROPY AND MANAGE DONATED RESOURCES FOR THE ADVANCEMENT OF UCLA.

  • THE UCLA FOUNDATION PROVIDES GRANTS IN SUPPORT OF THE PROGRAMS OF THE UNIVERSITY OF CALIFORNIA, LOS ANGELES CAMPUS INCLUDING SUPPORT FOR SCHOLARSHIPS, FELLOWSHIPS, RESEARCH, CHANCELLOR'S PRIORITIES, DEVELOPMENT, SPECIAL PROJECTS AND OTHER SUPPORT OF UCLA.

    Expenses $399,073,252 · Grants $398,607,976

  • THE UCLA FOUNDATION RAISES, RECORDS, AND MANAGES GIFTS FROM INDIVIDUALS, CORPORATIONS, FOUNDATIONS AND OTHER ORGANIZATIONS FOR THE BENEFIT OF UCLA IN ACCORDANCE WITH DONORS' WISHES. THE FOUNDATION PAYS A PERCENTAGE OF GIFTS RECEIVED, REFERRED TO AS GIFT FEES, AND A PERCENTAGE OF ENDOWMENT EARNINGS, KNOWN AS ENDOWMENT FEES, TO UCLA TO REIMBURSE FOR SERVICES AND FACILITIES PROVIDED TO THE FOUNDATION.

    Expenses $44,409,178 · Grants $44,409,178

  • THE UCLA FOUNDATION OPERATES THE UNENDOWED INVESTMENT POOL (UIP) FOR ITSELF AND OTHER TAX-EXEMPT RELATED ENTITIES. ALL GIFTS INTENDED FOR CURRENT EXPENDITURE AS WELL AS UNSPENT ENDOWED POOL PAYOUT AND AFFILIATED ENTITY SHORT-TERM ACCOUNTS ARE INVESTED IN THE UIP. IN ADDITION, THE FOUNDATION ACTS AS THE CUSTODIAN FOR THE ENDOWED INVESTMENT POOL. INCOME EARNED ON POOLED ASSETS HELD BY THE FOUNDATION ARE DISBURSED TO PARTICIPANT TAX-EXEMPT RELATED ENTITIES.

    Expenses $14,735,416 · Revenue $1,061,509

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

Listed in Part VII

  • Justin E Barton

    PRESIDENT/CIO

    Total calculated
    $1,036,041
    From this org
    $0
    From related orgs
    $912,382
    Other
    $123,659
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $660,516 related
    Bonus
    $0 + $249,759 related
    Other
    $0 + $2,107 related
    Deferred
    $0 + $66,000 related
    Nontaxable benefits
    $0 + $57,659 related
    Filer's total
    $0 + $1,036,041 related

  • Chancellor Gene D Block

    EXOFFICIO DIRECTOR

    Total calculated
    $802,187
    From this org
    $0
    From related orgs
    $697,248
    Other
    $104,939
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $677,472 related
    Bonus
    $0
    Other
    $0 + $19,776 related
    Deferred
    $0 + $69,806 related
    Nontaxable benefits
    $0 + $35,133 related
    Filer's total
    $0 + $802,187 related

  • Rhea Turteltaub

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $713,507
    From this org
    $0
    From related orgs
    $580,280
    Other
    $133,227
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $573,944 related
    Bonus
    $0
    Other
    $0 + $6,336 related
    Deferred
    $0 + $110,767 related
    Nontaxable benefits
    $0 + $22,460 related
    Filer's total
    $0 + $713,507 related

  • Allison Baird-James

    EXOFFICIO DIRECTOR UNTIL 4/14

    Total calculated
    $505,150
    From this org
    $0
    From related orgs
    $401,981
    Other
    $103,169
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $401,981 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $68,457 related
    Nontaxable benefits
    $0 + $34,712 related
    Filer's total
    $0 + $505,150 related

  • Julie A Sina

    CHIEF FINANCIAL OFFICER

    Total calculated
    $476,582
    From this org
    $0
    From related orgs
    $388,380
    Other
    $88,202
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $383,380 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $70,209 related
    Nontaxable benefits
    $0 + $17,993 related
    Filer's total
    $0 + $476,582 related

  • Alissa Fyfe

    EXECUTIVE DIRECTOR

    Total calculated
    $185,250
    From this org
    $0
    From related orgs
    $142,060
    Other
    $43,190
    Hours/week
    10 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $141,060 related
    Bonus
    $0 + $1,000 related
    Other
    $0
    Deferred
    $0 + $31,300 related
    Nontaxable benefits
    $0 + $11,890 related
    Filer's total
    $0 + $185,250 related

  • Alicia Minana De Lovelace

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Craig E Ehrlich

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • John T Mapes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Drew J Zager

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Cheryl M Lott

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • David A Ackert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Diana Ingram

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leslie K Gilbert-Lurie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Daly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David P Eisman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julio Herrera

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Melvin D Lindsey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christine N Simmons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zev Yaroslavsky

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jamal A Madni

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rica F Rodman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Martha Saucedo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ann Wang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dennis J Keegan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephen J Agostini

    DIRECTOR AS OF 5/6

    Total calculated
    $0
    Hours/week
    10 + 40 related

  • Edward Barnett

    DIRECTOR AS OF 3/7

    Total calculated
    $0
    Hours/week
    1

  • Matt Kaczmarek

    MANAGING DIRECTOR AS OF 3/7

    Total calculated
    $0
    Hours/week
    1

  • Patrick Petersilia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART I, LINE 3
POLICIES USED TO ESTABLISH CEO/EXECUTIVE DIRECTOR COMPENSATION COMPENSATION PRACTICES FOR THE RELATED ORGANIZATION IN DETERMINING COMPENSATION FOR ITS TOP MANAGEMENT OFFICIALS INCLUDE: A COMPENSATION COMMITTEE, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE. FORM 990, SCHEDULE J, PART II PROCESS OF DETERMINING OFFICER COMPENSATION NONE OF THE LISTED INDIVIDUALS RECEIVED ANY COMPENSATION FROM THE FILING ORGANIZATION DURING FYE 06/30/24. EACH WAS AN EMPLOYEE OF UCLA OR UCLA INVESTMENT COMPANY, RELATED ORGANIZATIONS, AND WAS COMPENSATED PRIMARILY FOR SERVICES TO THOSE ORGANIZATIONS. COMPENSATION INFORMATION REFLECTS ALL COMPENSATION RECEIVED DURING THE CALENDAR YEAR 2024.

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.

Related corporations and trusts

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

  • CHARITABLE REMAINDER UNITRUST (43)

    Trust · CHARITABLE TRUST · CA · controlled entity

    Directly controlled by NA

  • POOLED INCOME FUND (1)

    Trust · CHARITABLE TRUST · CA · controlled entity

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521349349311822

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