The Milken Institute

Analysis

The Milken Institute is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in May 1991, 35 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Milken Institute reported income of $264.7m and spending of $150.8m, leaving 43% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $133.6m to $264.7m (+98%), an average of +19% a year. The sharpest change came in the year to December 2021, when income rose by 130%. Over the whole period it spent 37% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Milken Institute sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Ukiah Adventist Hospital ($261.5m), Trinity Health of New England Provider Network Organization Inc ($266.4m) and Services for the Underserved Inc ($261.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 82% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $2.1m (1.4% of expenses). Other salaries and wages came to $37.0m. It paid $450k in professional fundraising fees. At year end it held assets of $1.24bn against liabilities of $117.5m, net assets of $1.12bn. It reported 323 employees.