Form 990 for tax year 2023
Filed by LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAM.
Totals
- Total revenue
- $12,344,674
- Total expenses
- $78,369,861
- Contributions and grants received
- $8,000,000
- Grants paid
- $15,293,997
- Program service revenue
- $2,021,255
- Investment income
- $2,318,209
- Other revenue
- $5,210
- Total assets, end of year
- $141,706,906
- Total liabilities, end of year
- $361,392,729
- Net assets or fund balances, end of year
- -$219,685,823
- Program services expenses (Part IX)
- $51,320,437
- Management and general expenses
- $27,049,424
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $51,320,437
Program services were 65.5% 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
$8,000,000
-
2a · Program service revenue: HOSPITALITY REVENUE
total $2,021,255 · related or exempt $2,021,255
-
3 · Investment income
total $2,318,209 · excluded $2,318,209
-
6a · Gross rents
real property $156,750
-
6b · Less rental expenses
real property $156,750
-
6c · Rental income or loss
real property $0
-
6d · Net rental income or loss
total $0
-
11a · Other revenue: CREDIT CARD REBATES
total $5,210 · related or exempt $5,210
-
11e · Other revenue, total
$5,210
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $15,293,997 · program services $15,293,997
-
5 · Compensation of officers, directors and key employees
total $11,004,345 · program services $5,069,521 · management and general $5,934,824
-
6 · Compensation of disqualified persons
total $331,197 · program services $331,197
-
7 · Other salaries and wages
total $20,622,979 · program services $11,186,736 · management and general $9,436,243
-
9 · Other employee benefits
total $1,301,145 · program services $701,969 · management and general $599,176
-
10 · Payroll taxes
total $1,482,183 · program services $813,925 · management and general $668,258
-
11b · Fees: legal
total $452,611 · program services $32,569 · management and general $420,042
-
11c · Fees: accounting
total $575,978 · management and general $575,978
-
11d · Fees: lobbying
total $502,500 · program services $502,500
-
11g · Fees: other
total $16,953,889 · program services $11,438,987 · management and general $5,514,902
-
12 · Advertising and promotion
total $1,017,036 · program services $956,401 · management and general $60,635
-
13 · Office expenses
total $729,731 · program services $245,675 · management and general $484,056
-
14 · Information technology
total $1,307,578 · program services $20,106 · management and general $1,287,472
-
16 · Occupancy
total $2,438,919 · program services $1,579,974 · management and general $858,945
-
17 · Travel
total $582,291 · program services $459,441 · management and general $122,850
-
22 · Depreciation, depletion and amortization
total $395,797 · program services $248,066 · management and general $147,731
-
23 · Insurance
total $938,312 · management and general $938,312
-
24a · Other expenses: RIGHTS PAYMENTS
total $2,439,373 · program services $2,439,373
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $56,016,126 · end of year $73,349,615
-
4 · Accounts receivable
beginning of year $398,929 · end of year $16,716,461
-
9 · Prepaid expenses and deferred charges
beginning of year $1,715,083 · end of year $37,795,812
-
10a · Land, buildings and equipment: cost or other basis
$3,603,617
-
10b · Land, buildings and equipment: accumulated depreciation
$1,964,482
-
10c · Land, buildings and equipment, net
beginning of year $1,984,414 · end of year $1,639,135
-
15 · Other assets
beginning of year $4,936,432 · end of year $12,205,883
-
17 · Accounts payable and accrued expenses
beginning of year $7,685,326 · end of year $6,902,689
-
19 · Deferred revenue
beginning of year $180,000,000 · end of year $280,797,540
-
25 · Other liabilities
beginning of year $31,040,391 · end of year $73,692,500
-
27 · Net assets without donor restrictions
beginning of year -$153,674,733 · end of year -$219,685,823
Mission and programs · 2023
Mission
THE CORPORATION IS ORGANIZED PRIMARILY TO IMPROVE AND ENHANCE THE QUALITY OF LIFE OF THE RESIDENTS OF LOS ANGELES, CALIFORNIA AND THE SURROUNDING AREA THROUGH THE HOSTING OF THE GAMES OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES ("COLLECTIVELY, THE "GAMES").
Activities or mission (Part I)
THE CORPORATION PRIMARILY AIMS TO IMPROVE & ENHANCE THE QUALITY OF LIFE OF RESIDENTS OF L.A. & SURROUNDING AREAS THROUGH THE PROMOTION & SPONSORSHIP OF L.A. AS THE SITE OF THE OLYMPIC AND PARALYMPIC GAMES.
-
Withheld by Nonprofiteer: this text may name a private individual.
Expenses $36,026,440 · Revenue $2,026,465
-
THE ORGANIZATION WILL FUND UP TO $160 MILLION IN YOUTH SPORTS IN THE CITY OF LOS ANGELES TO MAKE SPORTS MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELENOS LEADING UP TO THE GAMES IN 2028, BEGINNING THE LEGACY OF THE 2028 OLYMPIC AND PARALYMPIC GAMES.
Expenses $15,293,997 · Grants $15,293,997
As filed on the 2023 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.
Listed in Part VII
-
Christopher PepeCHRISTOPHER PEPE
DIRECTOR/USOPP CHIEF COMMERCIAL OFFICER
- Total calculated
- $928,358
- From this org
- $0
- From related orgs
- $927,210
- Other
- $1,148
- Hours/week
- 0.1 + 39.9 related
Schedule J breakdown matched by us
- Base
- $0 + $567,023 related
- Bonus
- $0 + $257,982 related
- Other
- $0 + $102,205 related
- Deferred
- $0
- Nontaxable benefits
- $0 + $1,148 related
- Filer's total
- $0 + $928,358 related
-
Daniel KoblinDANIEL KOBLIN
DIRECTOR/USOPP CHIEF OPERATING OFFICER
- Total calculated
- $718,548
- From this org
- $0
- From related orgs
- $712,380
- Other
- $6,168
- Hours/week
- 0.1 + 39.9 related
Schedule J breakdown matched by us
- Base
- $0 + $476,300 related
- Bonus
- $0 + $182,705 related
- Other
- $0 + $53,375 related
- Deferred
- $0
- Nontaxable benefits
- $0 + $6,168 related
- Filer's total
- $0 + $718,548 related
-
Janet B EvansJANET B EVANS
CHIEF ATHLETE OFFICER
- Total calculated
- $656,886
- From this org
- $656,762
- From related orgs
- $0
- Other
- $124
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $467,473
- Bonus
- $187,100
- Other
- $2,189
- Deferred
- $0
- Nontaxable benefits
- $124
- Filer's total
- $656,886
-
Casey WassermanCASEY WASSERMAN
CHAIRPERSON/PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5 + 0.5 related
-
Beatriz AcevedoBEATRIZ ACEVEDO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Jessica AlbaJESSICA ALBA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Mark AttanasioMARK ATTANASIO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Jeanie BussJEANIE BUSS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Andy CampionANDY CAMPION
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Elaine ChaoELAINE CHAO
DIRECTOR (BEGIN 01/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
Muffy DavisMUFFY DAVIS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Anita De FrantzANITA DE FRANTZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Jose E FelicianoJOSE E FELICIANO
DIRECTOR (BEGIN 01/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
Lex GilletteLEX GILLETTE
DIRECTOR (BEGIN 01/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
David HaggertyDAVID HAGGERTY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Sarah HirshlandSARAH HIRSHLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.1 related
-
Mellody HobsonMELLODY HOBSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Matt JohnsonMATT JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Michael JohnsonMICHAEL JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Jeffrey KatzenbergJEFFREY KATZENBERG
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Katie LedeckyKATIE LEDECKY
DIRECTOR (BEGIN 01/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
Jamie LeeJAMIE LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Ann PhilbinANN PHILBIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Alison ResslerALISON RESSLER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Pete RodriguezPETE RODRIGUEZ
DIRECTOR (BEGIN 07/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
Dana SmithDANA SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Megan SmithMEGAN SMITH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Marc SternMARC STERN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Gene SykesGENE SYKES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1 + 0.1 related
-
Mark TatumMARK TATUM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Stuart WaldmanSTUART WALDMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.1
-
Amy WakelandAMY WAKELAND
DIRECTOR (END 05/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
Yvonne WheelerYVONNE WHEELER
DIRECTOR (BEGIN 07/23)
- Total calculated
- $0
- Hours/week
- 0.1
-
Amy GleesonAMY GLEESON
CHIEF MARKETING OFFICER
- Total calculated
- $578,676
- From this org
- $572,267
- From related orgs
- $0
- Other
- $6,409
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $402,217
- Bonus
- $167,505
- Other
- $2,545
- Deferred
- $0
- Nontaxable benefits
- $6,409
- Filer's total
- $578,676
-
Anna SchmitzANNA SCHMITZ
SR. MANAGER, RISK
- Total calculated
- $212,752
- From this org
- $207,677
- From related orgs
- $0
- Other
- $5,075
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $195,566
- Bonus
- $9,757
- Other
- $2,354
- Deferred
- $0
- Nontaxable benefits
- $5,075
- Filer's total
- $212,752
-
Brian LafeminaBRIAN LAFEMINA
CHIEF BUSINESS OFFICER (END 12/23)
- Total calculated
- $3,130,692
- From this org
- $3,124,348
- From related orgs
- $0
- Other
- $6,344
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $771,682
- Bonus
- $2,350,000
- Other
- $2,666
- Deferred
- $0
- Nontaxable benefits
- $6,344
- Filer's total
- $3,130,692
-
David MichaelDAVID MICHAEL
CHIEF INFORMATION OFFICER
- Total calculated
- $656,861
- From this org
- $652,541
- From related orgs
- $0
- Other
- $4,320
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $478,997
- Bonus
- $171,350
- Other
- $2,194
- Deferred
- $0
- Nontaxable benefits
- $4,320
- Filer's total
- $656,861
-
John M HarperJOHN M HARPER
CHIEF OPERATING OFFICER
- Total calculated
- $703,267
- From this org
- $694,723
- From related orgs
- $0
- Other
- $8,544
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $486,218
- Bonus
- $206,287
- Other
- $2,218
- Deferred
- $0
- Nontaxable benefits
- $8,544
- Filer's total
- $703,267
-
Karen SturgesKAREN STURGES
CHIEF FINANCIAL OFFICER
- Total calculated
- $635,488
- From this org
- $629,320
- From related orgs
- $0
- Other
- $6,168
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $471,420
- Bonus
- $155,709
- Other
- $2,191
- Deferred
- $0
- Nontaxable benefits
- $6,168
- Filer's total
- $635,488
-
Kathryn CarterKATHRYN CARTER
CHIEF EXECUTIVE OFFICER (END 12/23)
- Total calculated
- $1,999,844
- From this org
- $1,995,290
- From related orgs
- $0
- Other
- $4,554
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $975,593
- Bonus
- $1,017,500
- Other
- $2,197
- Deferred
- $0
- Nontaxable benefits
- $4,554
- Filer's total
- $1,999,844
-
Maureen HarperMAUREEN HARPER
SVP, HUMAN RESOURCES
- Total calculated
- $400,869
- From this org
- $394,301
- From related orgs
- $0
- Other
- $6,568
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $307,029
- Bonus
- $85,030
- Other
- $2,242
- Deferred
- $0
- Nontaxable benefits
- $6,568
- Filer's total
- $400,869
-
Michelle SchwartzMICHELLE SCHWARTZ
CHIEF EXTERNAL AFFAIRS OFFICER
- Total calculated
- $620,862
- From this org
- $618,282
- From related orgs
- $0
- Other
- $2,580
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $460,729
- Bonus
- $155,334
- Other
- $2,219
- Deferred
- $0
- Nontaxable benefits
- $2,580
- Filer's total
- $620,862
-
Elisabeth FreinbergELISABETH FREINBERG
SVP & DEPUTY GENERAL COUNSEL
- Total calculated
- $387,930
- From this org
- $377,967
- From related orgs
- $0
- Other
- $9,963
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $299,514
- Bonus
- $76,184
- Other
- $2,269
- Deferred
- $0
- Nontaxable benefits
- $9,963
- Filer's total
- $387,930
-
Tanja OlanoTANJA OLANO
CHIEF LEGAL & PEOPLE OFFICER AND CHIEF COMPLIANCE
- Total calculated
- $1,020,218
- From this org
- $1,017,905
- From related orgs
- $0
- Other
- $2,313
- Hours/week
- 20 + 20 related
Schedule J breakdown matched by us
- Base
- $478,493
- Bonus
- $537,201
- Other
- $2,211
- Deferred
- $0
- Nontaxable benefits
- $2,313
- Filer's total
- $1,020,218
-
Allison Katz-MayfieldALLISON KATZ-MAYFIELD
SVP, GAMES DELIVERY REVENUE
- Total calculated
- $381,682
- From this org
- $379,702
- From related orgs
- $0
- Other
- $1,980
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $293,261
- Bonus
- $84,198
- Other
- $2,243
- Deferred
- $0
- Nontaxable benefits
- $1,980
- Filer's total
- $381,682
-
Mike BernsteinMIKE BERNSTEIN
VP, INSIGHTS & ANALYTICS
- Total calculated
- $368,180
- From this org
- $358,962
- From related orgs
- $0
- Other
- $9,218
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $277,719
- Bonus
- $78,986
- Other
- $2,257
- Deferred
- $0
- Nontaxable benefits
- $9,218
- Filer's total
- $368,180
-
Dana LentDANA LENT
VP, GAMES EXPERIENCES & ENGAGEMENT
- Total calculated
- $327,653
- From this org
- $325,697
- From related orgs
- $0
- Other
- $1,956
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $258,393
- Bonus
- $65,036
- Other
- $2,268
- Deferred
- $0
- Nontaxable benefits
- $1,956
- Filer's total
- $327,653
-
Maria Wu KiskisMARIA WU KISKIS
VP, INFORMATION KNOWLEDGE & GAMES LEARNING
- Total calculated
- $327,605
- From this org
- $325,144
- From related orgs
- $0
- Other
- $2,461
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $268,879
- Bonus
- $54,005
- Other
- $2,260
- Deferred
- $0
- Nontaxable benefits
- $2,461
- Filer's total
- $327,605
-
Michael ButkovicMICHAEL BUTKOVIC
SVP, FINANCIAL PLANNING & ANALYSIS
- Total calculated
- $329,026
- From this org
- $323,740
- From related orgs
- $0
- Other
- $5,286
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $300,000
- Bonus
- $21,457
- Other
- $2,283
- Deferred
- $0
- Nontaxable benefits
- $5,286
- Filer's total
- $329,026
-
Patricia FeauPATRICIA FEAU
VP, HOST CITY RELATIONS/FORMER ASST SEC
- Total calculated
- $331,197
- From this org
- $321,888
- From related orgs
- $0
- Other
- $9,309
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $248,181
- Bonus
- $71,421
- Other
- $2,286
- Deferred
- $0
- Nontaxable benefits
- $9,309
- Filer's total
- $331,197
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 · Independent compensation consultant
- 3 · Approval by the board or compensation committee
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 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)
- PART I, LINE 5
- THE ORGANIZATION'S BOARD OF DIRECTORS APPROVED THE FRAMEWORK FOR A LONG-TERM INCENTIVE BONUS PLAN FOR EXECUTIVES AND MEMBERS OF SENIOR LEADERSHIP. THE PURPOSE OF THE PLAN IS TO: (A) DRIVE PERFORMANCE AHEAD OF THE OLYMPIC AND PARALYMPIC GAMES IN 2028, (B) REWARD EXECUTION LEADING UP TO THE OLYMPIC AND PARALYMPIC GAMES IN 2028, AND (C) RETAIN KEY EMPLOYEES OF THE ORGANIZATION THROUGH THE OLYMPIC AND PARALYMPIC GAMES IN 2028. AS OF DECEMBER 31, 2023, 25 EMPLOYEES WERE ELIGIBLE FOR THE LONG-TERM INCENTIVE BONUS PLAN.
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
-
CITY OF LOS ANGELES DEPARTMENT OF RECREATION AND PARKS
$14,346,305
ADVANCE ORGANIZATION'S MISSION BY FUNDING YOUTH SPORT PARTNERSHIP TO MAKE SPORT MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELINOS LEADING UP TO THE GAMES IN 2028.
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.
-
UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES LLC
501(C)(3) · FUNDRAISING · CA · controlled entity
Directly controlled by LOS ANGELES ORGANIZING COMMITTEE FOR THE
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443199349312019
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