Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. 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.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
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).
Part VII, Section A · reportable compensation
Assoc. VP, Economic Development
$237,579Pt VII · Sec A
Assoc. VP, Real Estate
$233,822Pt VII · Sec A
CFO
$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
CEO
$26,320Pt VII · Sec A
Director
$16,536Pt VII · Sec A
Director
$12,796Pt VII · Sec A
Director
$5,062Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chair
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chair
$0Pt VII · Sec A
Director
$0Pt 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| 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.
See Cal Poly Corporation executive salaries →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.
Questions for Cal Poly Corporation
Your first name shows with your question. Cal Poly Corporation answers here, for everyone.
3 programs · $102.0M · in their own filed words · FY2024
01
Research Grants & Contracts
Externally sponsored projects administered by the Corporation for benefit of the university.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 95-1648180) · Dispute this line$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
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 95-1648180) · Dispute this line$40.8Mprogram expense
03
Restricted and Designated Funds
Gifts and special activity accounts that are restricted or designated for support of university programs.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 95-1648180) · Dispute this line$16.3Mprogram 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
Madden Charities INCFY2025$186K
Community Foundation San Luis Obispo CountyFY2025$144K
Total grants receivedfrom 2 funders$331K
Grants paid · 221 grants · $51.8M · 2019–2024
California Polytechnic State UniversityFY2024$2,250,649
California Polytechnic State University FoundationCA · FY2024$1,030,671
California State University Long Beach Research FoundationCA · FY2024$937,163
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
Woodwell Climate Research CenterMA · FY2024$96,370
Emma Pendleton Bradley HospitalRI · FY2024$81,519
Oregon Health & Science UniversityFY2024$73,444
Northwest Kern RcdFY2024$72,837
Resource Conservation District of Tehama CountyFY2024$69,114
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $31.1M federal money spent
Economic Adjustment AssistanceDepartment of Commerce · ALN 11.307 · Direct$5.3M
Stem Education (formerly Education and Human Resources)National Science Foundation · ALN 47.076 · Direct and through Chico State Ent (chico St) and 8 more$3.1M
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Ca Volunteers (ca Vol) and 1 more$1.9M
Research and Technology DevelopmentDepartment of Defense · ALN 12.910 · Direct$1.4M
Secure Water Act Research AgreementsDepartment of the Interior · ALN 15.560 · Direct$1.0M
Plus 85 smaller programs.
The auditor reported no findings.
Year ending Jun 2024 · $24.5M federal money spent
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Ca Volunteers and 1 more$5.2M
Stem Education (formerly Education and Human Resources)National Science Foundation · ALN 47.076 · Direct and through Chico State Ent and 8 more$2.7M
Secure Water Act � Research AgreementsDepartment of the Interior · ALN 15.560 · Direct$1.3M
Teacher Quality Partnership GrantsDepartment of Education · ALN 84.336 · Direct$982K
Mathematical and Physical SciencesNational Science Foundation · ALN 47.049 · Direct and through Virginia Polytechnic Institute$960K
Plus 89 smaller programs.
The auditor reported no findings.
Year ending Jun 2023 · $21.5M federal money spent
Department of DefenseDepartment of Defense · ALN 12.RD · Direct and through Empirical Systems Aerospace INC. and 2 more$3.4M
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Ca Volunteers and 1 more$2.4M
Education and Human ResourcesNational Science Foundation · ALN 47.076 · Direct and through Chico State Ent and 10 more$2.1M
Teacher Quality Partnership GrantsDepartment of Education · ALN 84.336 · Direct$1.6M
Economic Adjustment AssistanceDepartment of Commerce · ALN 11.307 · Direct$1.4M
Plus 81 smaller programs.
The auditor reported no findings.
Year ending Jun 2022 · $17.1M federal money spent
Rotor MechanicsDepartment of Defense · ALN 12.RD · Direct and through Empirical Systems Aerospace and 4 more$3.7M
Education and Human ResourcesNational Science Foundation · ALN 47.076 · Direct and through Univ of Northern Co and 8 more$1.9M
Teacher Quality Partnership GrantsDepartment of Education · ALN 84.336 · Direct$1.4M
Mathematical and Physical SciencesNational Science Foundation · ALN 47.049 · Direct and through Natl Science Foundation$866K
EngineeringNational Science Foundation · ALN 47.041 · Direct and through Natl Science Foundation and 3 more$647K
Plus 83 smaller programs.
The auditor reported no findings.
By the numbers
The FY2025 990, line by line.
Download 990
1The main four
Money inPt VIII
$130.7M
Ln 12
Fees for servicesLn 2g$62.8M
Other incomeLn 4–11$43.9M
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$5.0M
Other incomeLn 4–11$43.9M
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
Pledges and grants receivableLn 3$16.8M
Accounts receivableLn 4$15.3M
Notes and loans receivableLn 7$28.6M
Inventories for sale or useLn 8$1.5M
Prepaid expenses and deferred chargesLn 9$1.9M
Land, buildings, equipmentLn 10c$215.4M
InvestmentsLn 11–13$108.1M
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 endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$777K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY25 | End FY25 |
|---|---|---|
| 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 |
Business incomeForm 990-T, Part I
| Line | FY25 | FY24 |
|---|---|---|
| Gross | $177K | $170K |
| Net | −$80K | −$95K |
| Tax | $0 | $0 |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $19.3M | $19.3M | ||
| Pay of officers and key staff (Part IX, line 5)Ln 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
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 15, 2026 | $130.7M | $116.1M | $14.6M | $188.9M | 990 PDF |
| FY2024Filed with the IRS May 15, 2025 | $125.0M | $107.7M | $17.3M | $166.5M | 990 PDF |
| FY2023Filed with the IRS May 14, 2024 | $111.2M | $100.0M | $11.2M | $143.8M | 990 PDF |
| FY2022Filed with the IRS May 15, 2023 | $93.9M | $80.9M | $13.0M | $129.8M | 990 PDF |
| FY2021Filed with the IRS May 16, 2022 | $66.5M | $72.5M | −$6.0M | $130.2M | 990 PDF |
| FY2020Filed with the IRS May 14, 2021 | $72.2M | $73.4M | −$1.2M | $121.8M | 990 PDF |
Schedules filed Part IV
A · Public support
B · Donors
D · Assets and endowments
G · Fundraising
I · Grants
J · Pay
M · Noncash
O · Explanations
R · Related orgs
See the full FY2025 990
Part I · Summary $130,721,487 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $16,262,667$19,048,181
I-9 Program service revenuePrior year $58,843,924$62,770,067
I-10 Investment incomePrior year $3,452,281$7,476,203
I-11 Other revenuePrior year $46,431,563$41,427,036
I-12 Total revenuePrior year $124,990,435$130,721,487
I-13 Grants and similar amounts paidPrior year $12,854,883$19,283,175
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $50,404,045$55,157,368
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $44,462,525$41,651,789
I-18 Total expensesPrior year $107,721,453$116,092,332
I-19 Revenue less expensesPrior year $17,268,982$14,629,155
Part VI · Governance 3 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members3
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 $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 officers and key staff (Part IX, line 5)Management $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, 23 lines filed
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-7 Notes and loans receivableStart of year $29,628,910$28,583,191
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-21 Escrow or custodial accountsStart of year $6,124,871$5,965,114
X-23 Secured mortgages and notes payableStart of year $74,475,566$126,929,529
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-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $166,484,791$188,885,138
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 FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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