501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$57.6M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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 $233.0M a year · 4% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$57.6M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Plus $8.39B in investments, Pt X · Ln 11–13
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
37
named funders · $6.1M
Looks good: 37 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5.6B
33% of total assets
Looks good: liabilities are 33% of assets; 50% or less.
Pt X · Ln 26
Independent board members
37
of 39 voting members
Looks good: 37 of 39 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.9B
+6% vs prior year
Spent
$5.6B
To programs
81%
Net assets
$11.3B
By yearFY2020–FY2025
Revenue
$5.9B
FY2025▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.4B
FY2021$5.4B
FY2022$5.6B
FY2023$5.1B
FY2024$5.6B
FY2025$5.9B
Expenses
$5.6B
FY2025▲ +0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.9B
FY2021$5.4B
FY2022$5.0B
FY2023$5.1B
FY2024$5.5B
FY2025$5.6B
Net assets
$11.3B
FY2025▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$8.9B
FY2021$10.4B
FY2022$9.2B
FY2023$9.6B
FY2024$10.3B
FY2025$11.3B

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1934.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $4.6B Management & general 17% · $928.3M Fundraising 2% · $107.3M

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

70 people listed on the 990; $57.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Head Football Coach
$11,590,497Pt VII · Sec A
See Schedule O for Title
$5,809,939Pt VII · Sec A
President/Trustee
$4,077,317Pt VII · Sec A
Professor of Clinical Medicine
$3,880,456Pt VII · Sec A
Chair & Dist Prog Surgery
$3,829,971Pt VII · Sec A
See Schedule O for Title
$3,026,895Pt VII · Sec A
SVP, Health Affairs
$2,914,082Pt VII · Sec A
CEO Keck Medicine of USC
$2,352,451Pt VII · Sec A

Lincoln Riley’s $11.6M as Head Football Coach is at the 100th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lincoln Riley$11,590,497$11,458,647$19,583,861———
Eric Musselman$5,809,939—————
Chrysostomos L Nikias—$847,028$3,050,050$1,272,900$1,597,142$4,889,907
Charles Helton—$4,250,000$3,987,310$4,642,300$4,690,843$4,678,627
Alexander Grinch——$4,305,761———
Andy Enfield—$4,267,118$4,128,982$3,749,225$3,443,388$3,290,633
Carol L Folt$4,077,317$4,004,857$3,673,614$3,458,670$2,330,738$1,308,046
Louis Vandermolen MD$3,880,456$3,876,581$3,550,383———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See University of Southern California 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II15 listed

Programs and updates

Provides campus services like housing, dining, and parking to support university students, faculty, and staff.

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Provided by the organization

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3 programs · $4.6B · in their own filed words · FY2024
01

Instruction and Research

Approximately 20,000 students in undergraduate classes: approximately 26,000 students in graduate and professional classes: 5,900 bachelor degrees conferred and 12,520 advanced degrees conferred in 2024-2025. The major research is in medicine, engineering and the sciences.

$3.7Bprogram expense
02

Health Care Services

The doctors of usc are more than 600 physicians and specialists who are full-time faculty members of the keck school of medicine of usc. Usc physicians practice at keck hospital of usc, usc norris cancer hospital, usc verdugo hills hospital, usc arcadia hospital, doheny eye institute, health care centers on the health sciences campus and…

$471.2Mprogram expense
03

Auxiliary Enterprises

Approximately 46,000 students and 33,700 faculty and staff are served by the bookstore, dining services, housing, parking facilities and other services that support educational activities.

$337.6Mprogram 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 37 funders →
Grants paid · 825 grants · $5.6B · 2019–2024
Unitemized GrantFY2024$846,941,989
Northrop Grumman Systems CorpFY2024$31,348,229
Public Health InstituteCA · FY2024$9,568,632
USC Health SystemCA · FY2024$8,859,646
Regents Univ of CaliforniaCA · FY2024$7,195,849
C2n DiagnosticsFY2024$5,543,075
Yale UniversityCT · FY2024$5,231,877
Children's Hospital Los AngelesCA · FY2024$4,696,478
Regents Uccontroller's Ofc UcsfCA · FY2024$3,750,794
Banner HealthAZ · FY2024$3,334,940
University of RochesterNY · FY2024$2,570,105
See all 825 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$5.9B
Ln 12
Fees for servicesLn 2g$4.1B
Gifts and grantsLn 1h$1.4B
Investment incomeLn 3$421.2M
Money outPt IX
$5.6B
Ln 25
Programscol B$4.6B
Managementcol C$928.3M
Fundraisingcol D$107.3M
Owns and owesPt X
$11.3B
net assets · Ln 32
Cash and savingsLn 1–2$647.9M
Total assetsLn 16$17.0B
LiabilitiesLn 26$5.6B
PeoplePt VI, VII
70
listed · VII A
PaidVII A32
Voting boardVI 1a39
IndependentVI 1b37
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4B
Government grantsLn 1e$650.8M
Noncash giftsLn 1g$58.5M
Fundraising eventsLn 1c$1.8M
Fees for servicesLn 2g$4.1B
Investment incomeLn 3$421.2M
Other incomeLn 4–11$58.3M
Gains on assetsLn 7$354.6M
Total revenueLn 12$5.9B
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$647.9M
Cash and savings togetherLn 1–2$647.9M
InvestmentsLn 11–13$8.39B
Land, buildings, equipmentLn 10c$4.14B
Other assetsLn 15$1.69B
Total assetsLn 16$17.0B
LiabilitiesLn 26$5.6B
Net assetsLn 32$11.3B
OperationsPt I, VI
EmployeesI 546,305
VolunteersI 60
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$705.5M$647.9M
InvestmentsLn 11–13$7.87B$8.39B
Land, buildings, equipmentLn 10c$3.86B$4.14B
Total assetsLn 16$15.05B$16.96B
LiabilitiesLn 26$4.80B$5.63B
Net assetsLn 32$10.25B$11.32B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$248.4M$248.4M
Grants to domestic individualsLn 2$846.9M$846.9M
Grants and assistance to foreign recipientsLn 3$18.0M$18.0M
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$30.6M$11.5M$16.5M$2.6M
Pay of disqualified personsLn 6$2.8M$1.4M$662K$746K
Other salaries and wagesLn 7$2.44B$1.92B$467.2M$57.5M
Pension plan contributionsLn 8$257.7M$186.6M$62.1M$9.0M
Other employee benefitsLn 9$98.2M$72.3M$22.7M$3.1M
Payroll taxesLn 10$212.5M$153.9M$51.2M$7.4M
Management feesLn 11a$0
Legal feesLn 11b$42.5M$42.5M
Accounting feesLn 11c$2.5M$2.5M
Lobbying feesLn 11d$648K$648K
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$16.1M$16.1M
Other fees for servicesLn 11g$122.4M$90.6M$29.3M$2.5M
Advertising and promotionLn 12$21.9M$16.2M$5.3M$443K
Office expensesLn 13$64.9M$49.5M$790K$14.6M
Information technologyLn 14$144.6M$107.0M$34.6M$2.9M
RoyaltiesLn 15$13.8M$13.8M
OccupancyLn 16$52.5M$38.8M$12.6M$1.1M
TravelLn 17$88.9M$83.7M$3.5M$1.7M
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$96.3M$78.5M$17.9M
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$235.3M$210.6M$21.7M$2.9M
InsuranceLn 23$111.2M$111.2M
Other expenses (24a–d)Ln 24$412.9M$402.3M$9.8M$825K
Total functional expensesLn 25$5.59B$4.55B$928.3M$107.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $5.9B$5.6B$341.6M$11.3B 990 PDF
FY2024 $5.6B$5.5B$37.5M$10.3B 990 PDF
FY2023 $5.1B$5.1B$42.8M$9.6B 990 PDF
FY2022 $5.6B$5.0B$517.6M$9.2B 990 PDF
FY2021 $5.4B$5.4B−$46.2M$10.4B 990 PDF
FY2020 $6.4B$5.9B$504.5M$8.9B 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $5,927,980,342 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,338,148,373$1,378,553,356
I-9 Program service revenuePrior year $3,994,415,350$4,070,004,224
I-10 Investment incomePrior year $239,550,677$421,157,247
I-11 Other revenuePrior year $3,186,615$58,265,515
I-12 Total revenuePrior year $5,575,301,015$5,927,980,342
I-13 Grants and similar amounts paidPrior year $1,016,479,601$1,113,341,721
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,958,673,391$3,046,451,344
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,562,621,936$1,426,566,398
I-18 Total expensesPrior year $5,537,774,928$5,586,359,463
I-19 Revenue less expensesPrior year $37,526,087$341,620,879
Part VI · Governance 37 of 39 board members independent, 1 to look at
VI-1a Voting members of the governing body39
VI-1b Independent voting members37
VI-2 Family or business relationship among officers or directorsYes
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 $5,927,980,342 across 13 lines filed
Lines not itemized here account for $345,619,644 of total revenue; see the IRS return.
VIII-1c Fundraising events$1,849,604
VIII-1e Government grants$650,801,963
VIII-1f All other contributions, gifts and grants$725,901,789
VIII-1g Noncash contributions (included above)$58,464,903
VIII-1h Total contributions, gifts and grants$1,378,553,356
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,716,288,391 · Unrelated business $8,096,189$3,724,384,580
VIII-3 Investment incomeUnrelated business $77,333,237 · Excluded from tax −$10,747,804$66,585,433
VIII-5 RoyaltiesExcluded from tax $3,612,190$3,612,190
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsUnrelated business $25,915,642 · Excluded from tax $328,656,172$354,571,814
VIII-8 Net income from fundraising eventsExcluded from tax −$846,675−$846,675
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $55,500,000$55,500,000
VIII-12 Total revenueRelated to mission $4,116,653,852 · Unrelated business $112,099,251 · Excluded from tax $320,673,883$5,927,980,342
Part IX · Statement of functional expenses $5,586,359,463 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $248,445,054$248,445,054
IX-2 Grants to domestic individualsPrograms $846,941,989$846,941,989
IX-3 Grants and assistance to foreign recipientsPrograms $17,954,678$17,954,678
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $11,487,453 · Management $16,471,909 · Fundraising $2,591,372$30,550,734
IX-6 Pay of disqualified personsPrograms $1,424,591 · Management $662,093 · Fundraising $746,154$2,832,838
IX-7 Other salaries and wagesPrograms $1,919,998,872 · Management $467,233,531 · Fundraising $57,451,012$2,444,683,415
IX-8 Pension plan contributionsPrograms $186,602,650 · Management $62,143,493 · Fundraising $8,980,869$257,727,012
IX-9 Other employee benefitsPrograms $72,314,976 · Management $22,707,016 · Fundraising $3,137,233$98,159,225
IX-10 Payroll taxesPrograms $153,855,477 · Management $51,237,840 · Fundraising $7,404,803$212,498,120
IX-11a Management fees$0
IX-11b Legal feesManagement $42,529,959$42,529,959
IX-11c Accounting feesManagement $2,505,487$2,505,487
IX-11d Lobbying feesPrograms $647,792$647,792
IX-11f Investment management feesManagement $16,138,218$16,138,218
IX-11g Other fees for servicesPrograms $90,578,784 · Management $29,331,381 · Fundraising $2,473,383$122,383,548
IX-12 Advertising and promotionPrograms $16,225,114 · Management $5,254,045 · Fundraising $443,050$21,922,209
IX-13 Office expensesPrograms $49,506,948 · Management $790,081 · Fundraising $14,606,292$64,903,321
IX-14 Information technologyPrograms $106,995,141 · Management $34,647,354 · Fundraising $2,921,655$144,564,150
IX-15 RoyaltiesPrograms $13,827,803$13,827,803
IX-16 OccupancyPrograms $38,825,464 · Management $12,572,530 · Fundraising $1,060,185$52,458,179
IX-17 TravelPrograms $83,704,245 · Management $3,514,030 · Fundraising $1,667,669$88,885,944
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $78,484,167 · Management $17,850,866$96,335,033
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $210,600,294 · Management $21,721,659 · Fundraising $2,945,126$235,267,079
IX-23 InsuranceManagement $111,249,513$111,249,513
IX-24 Other expenses (24a–d)Programs $402,343,004 · Management $9,780,420 · Fundraising $824,739$412,948,163
IX-25 Total functional expensesPrograms $4,550,764,496 · Management $928,341,425 · Fundraising $107,253,542$5,586,359,463
Part X · Balance sheet $16,956,079,936 assets, 24 lines filed
Asset lines not itemized here account for $21,389,719; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $705,450,077$647,854,506
X-3 Pledges and grants receivableStart of year $504,514,230$621,607,795
X-4 Accounts receivableStart of year $821,475,374$1,069,069,482
X-8 Inventories for sale or useStart of year $38,644,584$44,209,273
X-9 Prepaid expenses and deferred chargesStart of year $248,727,778$333,255,172
X-10c Land, buildings and equipment, netStart of year $3,864,146,735$4,140,999,379
X-11 Publicly traded securitiesStart of year $2,493,177,025$2,323,782,112
X-12 Other securitiesStart of year $5,375,108,839$6,064,735,056
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $977,685,321$1,689,177,442
X-16 Total assetsStart of year $15,054,111,883$16,956,079,936
X-17 Accounts payable and accrued expensesStart of year $753,631,545$879,095,066
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $403,647,181$399,483,000
X-20 Tax-exempt bond liabilitiesStart of year $0$662,974,467
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $703,542,345$749,004,737
X-26 Total liabilitiesStart of year $4,801,343,782$5,631,510,850
X-27 Net assets without donor restrictionsStart of year $3,478,822,757$3,796,631,639
X-28 Net assets with donor restrictionsStart of year $6,773,945,344$7,527,937,447
X-32 Total net assets or fund balancesStart of year $10,252,768,101$11,324,569,086
X-33 Total liabilities and net assetsStart of year $15,054,111,883$16,956,079,936
Part XI · Reconciliation of net assets $11,324,569,086 net assets at year end
XI-1 Total revenue$5,927,980,342
XI-2 Total expenses$5,586,359,463
XI-3 Revenue less expenses$341,620,879
XI-4 Net assets at start of year$10,252,768,101
XI-5 Net unrealized gains (losses) on investments$722,894,857
XI-9 Other changes in net assets$7,285,249
XI-10 Net assets at end of year$11,324,569,086

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

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