Cal Poly Corporation

Tax-deductible

San Luis Obispo, CA501(c)(3)Since 1940Colleges & UniversitiesEIN 95-1648180

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To provide the university with certain services and facilities which are an integral part of the educational program of the university.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 100 volunteers and 2,105 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $6.9M a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.3M
to officers and key staff · 1% of spending
Top officer’s pay lower than 92% of similar orgs
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $331K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$237.9M
56% of total assets
Fine: liabilities are 56% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
3
of 12 voting members
Worth a look: 3 of 12 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$130.7M
+5% vs prior year
Spent
$116.1M
To programs
91%
Net assets
$188.9M
By yearFY2020–FY2024
Revenue
$130.7M
FY2024▲ +5%
Revenue by fiscal year
FY2020$72.2M
FY2021$66.5M
FY2022$93.9M
FY2023$111.2M
FY2024$125.0M
FY2024$130.7M
Expenses
$116.1M
FY2024▲ +8%
Expenses by fiscal year
FY2020$73.4M
FY2021$72.5M
FY2022$80.9M
FY2023$100.0M
FY2024$107.7M
FY2024$116.1M
Net assets
$188.9M
FY2024▲ +13%
Net assets by fiscal year
FY2020$121.8M
FY2021$130.2M
FY2022$129.8M
FY2023$143.8M
FY2024$166.5M
FY2024$188.9M

From the FY2024 Form 990 · 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: FY2024. IRS ruling in Mar 1942.

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% · $106.0M Management & general 9% · $10.1M

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

22 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation
Assoc. VP, Economic Development
$237,579Pt VII · Sec A
Assoc. VP, Real Estate
$233,822Pt VII · Sec A
$223,266Pt VII · Sec A
Assoc. Exec. Director, Cpc
$196,269Pt VII · Sec A
Manager, Swanton Pacific Ranch
$189,270Pt VII · Sec A
Cpsu Faculty (cafes)
$123,073Pt VII · Sec A
$26,320Pt VII · Sec A
Director
$16,536Pt VII · Sec A

Karen Tillman’s $238K as Assoc. VP, Economic Development is at the 8th 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Karen Tillman$237,579—————
James Dunning$233,822$208,941$191,896$183,036$188,865$144,177
Dan Banfield$223,266$207,177$174,930$166,598$164,251$149,591
Andrea Burns$196,269$184,232$178,013$175,770$183,931$147,127
Elizabeth Witt$189,270—————
Tiffany Kramlich—$170,487————
Jason Will Marchese———$149,329$158,553—
Judy Mahan——$158,413—$136,270$140,236

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.

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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

Supports university students and faculty by operating campus dining services, an educational bookstore, and agricultural projects to enhance the educational experience.

Provided by the organization

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3 program services account for $102.0M of program spending, described in the organization's own filed words · FY2024.
01

Research Grants & Contracts

Externally sponsored projects administered by the corporation for benefit of the university.

$45.0Mprogram expense
02

Educational Bookstore

Provided books, learning materials and equipment for the university students and FACULTY/STAFF; campus dining services for university students and faculty; agriculture projects

$40.8Mprogram expense
03

Restricted and Designated Funds

Gifts and special activity accounts that are restricted or designated for support of university programs.

$16.3Mprogram expense

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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
Total grants receivedfrom 2 funders$331K
Grants paid · 221 grants · $51.8M · 2019–2024
California Polytechnic State UniversityFY2024$2,250,649
Allan Hancock CollegeFY2024$697,163
California Polytechnic State UniversityFY2024$672,251
San Luis Obispo County Community College District DBA Cuesta Community ColFY2024$445,605
The Miriam HospitalRI · FY2024$326,563
Upper Salinas-Las Tablas Resource Conservation DistrictFY2024$305,098
Chico State EnterprisesCA · FY2024$246,593
Southern University and A&m CollegeFY2024$149,038
Virginia Polytechnic Institute and State UniversityFY2024$141,771
Regents of the University of California DavisFY2024$124,959
IgnitedCA · FY2024$106,586
Oregon Health & Science UniversityFY2024$73,444
Northwest Kern RcdFY2024$72,837
Resource Conservation District of Tehama CountyFY2024$69,114
See all 221 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$130.7M
Ln 12
Fees for servicesLn 2g$62.8M
Other incomeLn 4–11$41.4M
Gifts and grantsLn 1h$19.0M
Money outPt IX
$116.1M
Ln 25
Programscol B$106.0M
Managementcol C$10.1M
Owns and owesPt X
$188.9M
net assets · Ln 32
Cash and savingsLn 1–2$38.9M
Total assetsLn 16$426.8M
LiabilitiesLn 26$237.9M
PeoplePt VI, VII
22
listed · VII A
PaidVII A10
Voting boardVI 1a12
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19.0M
Noncash giftsLn 1g$777K
Fundraising eventsLn 1c$623K
Fees for servicesLn 2g$62.8M
Investment incomeLn 3$7.5M
Other incomeLn 4–11$41.4M
Gains on assetsLn 7$2.4M
Total revenueLn 12$130.7M
Assets in detailPt X, end of year
CashLn 1$18K
SavingsLn 2$38.9M
Cash and savings togetherLn 1–2$38.9M
InvestmentsLn 11–13$108.1M
Land, buildings, equipmentLn 10c$215.4M
Other assetsLn 15$335K
Total assetsLn 16$426.8M
LiabilitiesLn 26$237.9M
Net assetsLn 32$188.9M
OperationsPt I, VI
EmployeesI 52,105
VolunteersI 6100
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$22.3M$38.9M
InvestmentsLn 11–13$100.5M$108.1M
Land, buildings, equipmentLn 10c$162.5M$215.4M
Total assetsLn 16$352.7M$426.8M
LiabilitiesLn 26$186.2M$237.9M
Net assetsLn 32$166.5M$188.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$19.3M$19.3M
Pay of current officers, directors and key staffLn 5$284K$284K
Other salaries and wagesLn 7$43.0M$38.2M$4.8M
Pension plan contributionsLn 8$1.1M$692K$400K
Other employee benefitsLn 9$8.9M$6.8M$2.1M
Payroll taxesLn 10$1.9M$1.5M$384K
Legal feesLn 11b$140K$107K$33K
Accounting feesLn 11c$120K$120K
Investment management feesLn 11f$344K$218K$125K
Other fees for servicesLn 11g$9.0M$8.7M$283K
Advertising and promotionLn 12$428K$415K$12K
Office expensesLn 13$271K$261K$10K
Information technologyLn 14$1.0M$296K$750K
RoyaltiesLn 15$1.3M$1.3M
OccupancyLn 16$7.9M$7.9M$42K
TravelLn 17$1.6M$1.6M$20K
Conferences, conventions and meetingsLn 19$329K$309K$20K
InterestLn 20$1.5M$1.4M$146K
Depreciation, depletion and amortizationLn 22$5.6M$5.6M$52K
InsuranceLn 23$1.5M$1.3M$214K
Other expenses (24a–d)Ln 24$8.8M$8.7M$73K
All other expensesLn 24e$1.7M$1.4M$290K
Total functional expensesLn 25$116.1M$106.0M$10.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $125.0M$107.7M$17.3M$166.5M 990 PDF
FY2023 $111.2M$100.0M$11.2M$143.8M 990 PDF
FY2022 $93.9M$80.9M$13.0M$129.8M 990 PDF
FY2021 $66.5M$72.5M−$6.0M$130.2M 990 PDF
FY2020 $72.2M$73.4M−$1.2M$121.8M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $130,721,487 across 11 lines filed
Lines not itemized here account for $42,677,248 of total revenue; see the IRS return.
VIII-1c Fundraising events$623,211
VIII-1d Related organizations$3,643,103
VIII-1f All other contributions, gifts and grants$14,781,867
VIII-1g Noncash contributions (included above)$777,499
VIII-1h Total contributions, gifts and grants$19,048,181
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $62,491,904 · Unrelated business $278,163$62,770,067
VIII-3 Investment incomeExcluded from tax $5,032,125$5,032,125
VIII-6 Net rental income or lossRelated to mission −$1,179,122 · Unrelated business −$79,836 · Excluded from tax −$93,501−$1,352,459
VIII-7 Net gain or loss on sales of assetsRelated to mission $2,426,470 · Excluded from tax $17,608$2,444,078
VIII-8 Net income from fundraising eventsExcluded from tax $102,247$102,247
VIII-12 Total revenueRelated to mission $106,390,590 · Unrelated business $224,237 · Excluded from tax $5,058,479$130,721,487
Part IX · Statement of functional expenses $116,092,332 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $19,283,175$19,283,175
IX-5 Pay of current officers, directors and key staffManagement $283,980$283,980
IX-7 Other salaries and wagesPrograms $38,216,401 · Management $4,767,915$42,984,316
IX-8 Pension plan contributionsPrograms $692,393 · Management $399,998$1,092,391
IX-9 Other employee benefitsPrograms $6,844,101 · Management $2,097,903$8,942,004
IX-10 Payroll taxesPrograms $1,470,510 · Management $384,167$1,854,677
IX-11b Legal feesPrograms $107,436 · Management $32,705$140,141
IX-11c Accounting feesManagement $120,466$120,466
IX-11f Investment management feesPrograms $218,175 · Management $125,487$343,662
IX-11g Other fees for servicesPrograms $8,748,250 · Management $283,281$9,031,531
IX-12 Advertising and promotionPrograms $415,392 · Management $12,453$427,845
IX-13 Office expensesPrograms $260,991 · Management $10,209$271,200
IX-14 Information technologyPrograms $295,841 · Management $749,597$1,045,438
IX-15 RoyaltiesPrograms $1,282,305$1,282,305
IX-16 OccupancyPrograms $7,895,273 · Management $42,233$7,937,506
IX-17 TravelPrograms $1,617,549 · Management $19,866$1,637,415
IX-19 Conferences, conventions and meetingsPrograms $308,562 · Management $20,136$328,698
IX-20 InterestPrograms $1,366,869 · Management $146,086$1,512,955
IX-22 Depreciation, depletion and amortizationPrograms $5,551,899 · Management $52,282$5,604,181
IX-23 InsurancePrograms $1,264,355 · Management $214,166$1,478,521
IX-24 Other expenses (24a–d)Programs $8,747,377 · Management $73,294$8,820,671
IX-24e All other expensesPrograms $1,379,138 · Management $290,116$1,669,254
IX-25 Total functional expensesPrograms $105,965,992 · Management $10,126,340 · Fundraising $0$116,092,332
Part X · Balance sheet $426,786,084 assets, 17 lines filed
Asset lines not itemized here account for $28,583,191; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $22,575$17,575
X-2 Savings and temporary cash investmentsStart of year $22,325,670$38,901,934
X-3 Pledges and grants receivableStart of year $22,959,503$16,829,689
X-4 Accounts receivableStart of year $11,440,999$15,317,937
X-8 Inventories for sale or useStart of year $1,586,600$1,474,684
X-9 Prepaid expenses and deferred chargesStart of year $1,415,981$1,897,516
X-10c Land, buildings and equipment, netStart of year $162,536,585$215,365,045
X-11 Publicly traded securitiesStart of year $100,460,602$108,058,900
X-12 Other securitiesStart of year $4,223$4,223
X-15 Other assetsStart of year $323,000$335,390
X-16 Total assetsStart of year $352,704,648$426,786,084
X-17 Accounts payable and accrued expensesStart of year $12,906,655$15,428,482
X-19 Deferred revenueStart of year $53,201,558$49,290,581
X-25 Other liabilitiesStart of year $39,511,207$40,287,240
X-26 Total liabilitiesStart of year $186,219,857$237,900,946
X-32 Total net assets or fund balancesStart of year $166,484,791$188,885,138
X-33 Total liabilities and net assetsStart of year $352,704,648$426,786,084
Part XI · Reconciliation of net assets $188,885,138 net assets at year end
XI-1 Total revenue$130,721,487
XI-2 Total expenses$116,092,332
XI-3 Revenue less expenses$14,629,155
XI-4 Net assets at start of year$166,484,791
XI-5 Net unrealized gains (losses) on investments$7,694,679
XI-9 Other changes in net assets$76,513
XI-10 Net assets at end of year$188,885,138

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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