California Polytechnic State University Foundation

Tax-deductible

San Luis Obispo, CA501(c)(3)Since 2006EducationEIN 20-4927897Revenue $62.6M in FY2025

On file with the IRSfoundation.calpoly.edu4800 Morabito Place 120, 93401-8748 · San Luis Obispo, CATax-exempt since Dec 2006College/university support org — 170(b)(1)(A)(iv)

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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.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 21 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $5.7M a year · 10% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
17 mo
of spending, in cash
Looks good: 16.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $178K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$20.2M
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 23 voting members
Looks good: 19 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62.6M
-16% vs prior year
Spent
$67.4M
To programs
91%
Net assets
$447.4M
By yearFY2020–FY2025
Revenue
$62.6M
FY2025▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020$48.8M
FY2021$44.3M
FY2022$59.1M
FY2023$47.0M
FY2024$74.7M
FY2025$62.6M
Expenses
$67.4M
FY2025▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$39.3M
FY2021$40.3M
FY2022$57.5M
FY2023$46.4M
FY2024$51.3M
FY2025$67.4M
Net assets
$447.4M
FY2025▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$361.7M
FY2021$417.6M
FY2022$373.2M
FY2023$389.8M
FY2024$420.7M
FY2025$447.4M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $61.6M Management & general 2% · $1.2M Fundraising 7% · $4.6M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

27 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
CEO & University President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See California Polytechnic State University Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Manages and invests endowment and campus program funds to support the educational, scientific, and charitable activities of California Polytechnic State University, San Luis Obispo.

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Provided by the organization

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2 programs · $61.6M · in their own filed words · FY2024
01

Expenses in support of the educational mission of the university; including instruction, research, maintenance, scholarships and other academic and institutional support.

$60.9Mprogram expense
02

Management and investment of campus program funds and endowment funds, the earnings on which are restricted for the benefit of the university.

$637Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 5 funders →
Grants paid · 27 grants · $157.9M · 2019–2024
California Polytechnic State UniversityFY2024$23,796,818
California Polytechnic State UniversityFY2024$4,418,919
Cal Poly CorporationCA · FY2024$3,792,535
Unitemized GrantFY2024$507
California Polytechnic State UniversityFY2023$25,643,909
California Polytechnic State UniversityFY2023$4,942,551
Cal Poly CorporationCA · FY2023$2,288,150
Unitemized GrantFY2023$24,000
California Polytechnic State UniversityFY2022$18,418,294
California Polytechnic State UniversityFY2022$4,002,968
Cal Poly CorporationCA · FY2022$2,761,395
Unitemized GrantFY2022$30,000
California Polytechnic State UniversityFY2021$16,998,387
California Polytechnic State UniversityFY2021$4,937,031
Cal Poly CorporationCA · FY2021$3,858,643
See all 27 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$62.6M
Ln 12
Gifts and grantsLn 1h$50.3M
Investment incomeLn 3$12.3M
Money outPt IX
$67.4M
Ln 25
Programscol B$61.6M
Managementcol C$1.2M
Fundraisingcol D$4.6M
Owns and owesPt X
$447.4M
net assets · Ln 32
Cash and savingsLn 1–2$94.8M
Total assetsLn 16$467.6M
LiabilitiesLn 26$20.2M
PeoplePt VI, VII
27
listed · VII A
PaidVII A0
Voting boardVI 1a23
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$50.3M
Noncash giftsLn 1g$1.8M
Investment incomeLn 3$12.3M
Gains on assetsLn 7$149K
Total revenueLn 12$62.6M
Assets in detailPt X, end of year
SavingsLn 2$94.8M
Cash and savings togetherLn 1–2$94.8M
InvestmentsLn 11–13$343.1M
Other assetsLn 15$146K
Total assetsLn 16$467.6M
LiabilitiesLn 26$20.2M
Net assetsLn 32$447.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 621
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$96.3M$94.8M
InvestmentsLn 11–13$308.4M$343.1M
Total assetsLn 16$437.0M$467.6M
LiabilitiesLn 26$16.4M$20.2M
Net assetsLn 32$420.7M$447.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$32.4M$32.4M
Grants to domestic individualsLn 2$507$507
Management feesLn 11a$27K$8K$19K
Legal feesLn 11b$38K$17K$21K
Accounting feesLn 11c$67K$67K
Investment management feesLn 11f$637K$637K
Other fees for servicesLn 11g$40K$40K
Advertising and promotionLn 12$186K$186K
Office expensesLn 13$124K$32K$92K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$56K$56K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$33.8M$28.5M$953K$4.3M
Total functional expensesLn 25$67.4M$61.6M$1.2M$4.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $62.6M$67.4M−$4.8M$447.4M 990 PDF
FY2024 $74.7M$51.3M$23.4M$420.7M 990 PDF
FY2023 $47.0M$46.4M$611K$389.8M 990 PDF
FY2022 $59.1M$57.5M$1.6M$373.2M 990 PDF
FY2021 $44.3M$40.3M$4.0M$417.6M 990 PDF
FY2020 $48.8M$39.3M$9.6M$361.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $62,571,176 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,098,821$50,284,885
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $29,620,888$12,286,291
I-11 Other revenuePrior year $3,514$0
I-12 Total revenuePrior year $74,723,223$62,571,176
I-13 Grants and similar amounts paidPrior year $32,927,752$32,427,808
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $18,386,798$34,955,847
I-18 Total expensesPrior year $51,314,550$67,383,655
I-19 Revenue less expensesPrior year $23,408,673−$4,812,479
Part VI · Governance 19 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $62,571,176 across 7 lines filed
VIII-1d Related organizations$963,925
VIII-1f All other contributions, gifts and grants$49,320,960
VIII-1g Noncash contributions (included above)$1,784,326
VIII-1h Total contributions, gifts and grants$50,284,885
VIII-3 Investment incomeUnrelated business $973 · Excluded from tax $12,136,496$12,137,469
VIII-7 Net gain or loss on sales of assetsExcluded from tax $148,822$148,822
VIII-12 Total revenueRelated to mission $0 · Unrelated business $973 · Excluded from tax $12,285,318$62,571,176
Part IX · Statement of functional expenses $67,383,655 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $32,427,301$32,427,301
IX-2 Grants to domestic individualsPrograms $507$507
IX-11a Management feesPrograms $8,455 · Management $18,507$26,962
IX-11b Legal feesPrograms $16,944 · Management $21,479$38,423
IX-11c Accounting feesManagement $66,793$66,793
IX-11f Investment management feesPrograms $637,095$637,095
IX-11g Other fees for servicesManagement $40,457$40,457
IX-12 Advertising and promotionFundraising $186,311$186,311
IX-13 Office expensesManagement $32,465 · Fundraising $91,907$124,372
IX-17 TravelManagement $1,083$1,083
IX-19 Conferences, conventions and meetingsManagement $55,847$55,847
IX-23 InsuranceManagement $14,810$14,810
IX-24 Other expenses (24a–d)Programs $28,494,539 · Management $952,735 · Fundraising $4,316,420$33,763,694
IX-25 Total functional expensesPrograms $61,584,841 · Management $1,204,176 · Fundraising $4,594,638$67,383,655
Part X · Balance sheet $467,647,859 assets, 13 lines filed
Asset lines not itemized here account for $323,000; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $96,279,504$94,802,995
X-3 Pledges and grants receivableStart of year $31,608,857$29,179,570
X-4 Accounts receivableStart of year $253,699$37,866
X-9 Prepaid expenses and deferred chargesStart of year $15,622$16,208
X-11 Publicly traded securitiesStart of year $307,924,781$342,753,992
X-12 Other securitiesStart of year $490,540$388,203
X-15 Other assetsStart of year $139,053$146,025
X-16 Total assetsStart of year $437,035,056$467,647,859
X-17 Accounts payable and accrued expensesStart of year $3,179,353$6,502,328
X-25 Other liabilitiesStart of year $13,185,648$13,720,104
X-26 Total liabilitiesStart of year $16,365,001$20,222,432
X-32 Total net assets or fund balancesStart of year $420,670,055$447,425,427
X-33 Total liabilities and net assetsStart of year $437,035,056$467,647,859
Part XI · Reconciliation of net assets $447,425,427 net assets at year end
XI-1 Total revenue$62,571,176
XI-2 Total expenses$67,383,655
XI-3 Revenue less expenses−$4,812,479
XI-4 Net assets at start of year$420,670,055
XI-5 Net unrealized gains (losses) on investments$31,567,851
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$447,425,427

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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