CALIFORNIA INSTITUTE OF TECHNOLOGY

EIN: 951643307 501(c)(3) Education

PASADENA, CA

Total Revenue
$4,165,188,000
Total Expenses
$3,686,750,000
Total Assets
$7,827,509,000
Net Assets
$5,142,317,000
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1891
Legal Domicile
CA
Principal Officer
DR THOMAS F ROSENBAUM
Phone
6263956811
Tax Period
2023-10-01 to 2024-09-30

CALIFORNIA INSTITUTE OF TECHNOLOGY, founded in 1891, is a large national nonprofit in the Education sector that reported $4.2B in total revenue in fiscal year 2023. Expenses of $3.7B left a modest 11% surplus.

Mission

FIRST CLASS TRAVEL: PURSUANT TO A WRITTEN POLICY, FIRST CLASS OR BUSINESS TRAVEL IS PERMITTED FOR CERTAIN EMPLOYEES UNDER CERTAIN CIRCUMSTANCES FOR BUSINESS PURPOSES. DURING CALENDAR YEAR 2023, THREE OFFICERS RECEIVED FIRST CLASS OR CHARTER TRAVEL BENEFITS. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: DURING CALENDAR YEAR 2023, TWO OFFICERS AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS. HOUSING ALLOWANCE: HOUSING ALLOWANCES ARE PROVIDED TO CERTAIN OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES AS PART OF THE INSTITUTE'S SALARY SUPPLEMENT HOUSING PROGRAM, WHICH IS GOVERNED BY A WRITTEN POLICY. DURING CALENDAR YEAR 2023, FOUR OFFICERS RECEIVED HOUSING ALLOWANCE BENEFITS. PAYMENTS UNDER THIS PROGRAM ARE INCLUDED IN TAXABLE WAGES. ADDITIONALLY, THE PRESIDENT OCCUPIES AN INSTITUTE-OWNED RESIDENCE ON ITS CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE INSTITUTE. THE PRESIDENT'S NONTAXABLE BENEFITS IN SCHEDULE J, PART II, COLUMN (D) INCLUDE $79,054, WHICH IS AN ESTIMATE OF THE ANNUAL RENTAL VALUE OF THE PERSONAL SPACE OCCUPIED IN THAT RESIDENCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $938,592,000
Program Service Revenue $3,024,617,000
Investment Income $189,549,000
Other Revenue $12,430,000
TOTAL REVENUE $4,165,188,000

Expense Breakdown

Grants Paid $131,635,000
Salaries & Benefits $1,976,653,000
Fundraising Expenses $11,004,000
Program Expenses $3,563,524,000
Other Expenses $1,578,462,000
TOTAL EXPENSES $3,686,750,000

Year-over-Year Comparison

2023 2022 Change
Revenue $4,165,188,000 $3,933,444,000 +0.1%
Expenses $3,686,750,000 $3,704,492,000 0.0%
Net Income $478,438,000 $228,952,000 +1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
52
Independent Members
44
Employees
12249
Volunteers
824

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
17
$11,744,014
Total Directors
55
$1,936,827
Key Employees
2
$1,220,307
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT H RICHLAND CHIEF INVESTMENT OFFICER 40.0
Officer
$1,323,751 $662,229 $1,985,980
THOMAS F ROSENBAUM PRESIDENT & TRUSTEE 40.0
Officer Director
$1,792,256 $144,571 $1,936,827
LAURIE A LESHIN VP & DIRECTOR, JPL 40.0
Officer
$1,364,626 $56,262 $1,420,888
KAREN L SISSON FORMER VP ADMIN & CFO 40.0
Highest
$1,041,722 $67,876 $1,109,598
DOUGLAS N MACBEAN SR MANAGING DIR INVESTMENTS 40.0
Highest
$717,505 $211,860 $929,365
DAVID A TIRRELL PROVOST 40.0
Officer
$846,666 $64,815 $911,481
DEXTER A BAILEY VP ADV & ALUMNI RELATIONS 40.0
Officer
$793,904 $78,692 $872,596
ROBERT P KIRSHNER ASTRONOMY PROF & EXEC DIR, TIO 40.0
Highest
$803,719 $54,819 $858,538
JENNIFER T LUM GENERAL COUNSEL 40.0
Officer
$705,456 $128,496 $833,952
KIRK KAWASAWA SR MNG DIR INVESTMENT OPS 40.0
Highest
$613,645 $168,443 $782,088
CATHY A LIGHT SECRETARY, BOARD OF TRUSTEES 40.0
Officer
$668,134 $83,802 $751,936
LARRY D JAMES DEPUTY DIRECTOR, JPL 40.0
Key Emp
$659,412 $61,259 $720,671
FREDERIC FARINA CHIEF INNOV & CORP PARTN 40.0
Highest
$545,263 $69,659 $614,922
DIANA JERGOVIC VP STRATEGY IMPLEMENTATION 40.0
Officer
$559,006 $48,919 $607,925
SHARON E PATTERSON CFO & TREASURER AS OF 10/23 40.0
Officer
$471,109 $72,662 $543,771
SAMMY A KAYALI CFO & DIR FOR LAB OPS INTEGRA 40.0
Key Emp
$419,369 $80,267 $499,636
KEVIN M GILMARTIN VP STUDENT AFFAIRS 40.0
Officer
$329,837 $70,484 $400,321
MATTHEW W BREWER CONTROLLER 40.0
Officer
$323,060 $72,165 $395,225
JOSEPH E SHEPHERD FORMER VP STUDENT AFFAIRS 40.0
$316,662 $73,590 $390,252
MICHAEL M WATKINS FORMER VP & DIRECTOR, JPL 40.0
$306,068 $60,733 $366,801
CAROL J SCHUIL FORMER EA TO PRES/ASST SEC 40.0
$287,918 $61,473 $349,391
MARGARET A STEURBAUT INT VP ADMIN & CFO until 11/23 40.0
Officer
$282,940 $19,412 $302,352
DEBORAH K RODDAY SR DIR/ASST SEC 40.0
Officer
$222,685 $43,648 $266,333
ARTURO AGUAYO ASSISTANT TREASURER 40.0
Officer
$203,871 $57,255 $261,126
CHARLES E LANE VP & COO AS OF 10/23 40.0
Officer
$236,658 $16,643 $253,301
SEAN BAILEY TRUSTEE 4.0
Director
$0 $0 $0
BARBARA M BARRETT TRUSTEE, VICE CHAIR 10.0
Officer Director
$0 $0 $0
REBECKA BELLDEGRUN SENIOR TRUSTEE 14.0
Director
$0 $0 $0
ROBERT C BONNER SENIOR TRUSTEE 4.0
Director
$0 $0 $0
LYNN A BOOTH SENIOR TRUSTEE 2.0
Director
$0 $0 $0
BRIGITTE M BREN TRUSTEE 1.75
Director
$0 $0 $0
MILTON M CHANG SENIOR TRUSTEE 3.0
Director
$0 $0 $0
PEGGY T CHERNG SENIOR TRUSTEE 2.0
Director
$0 $0 $0
ROBERT B CHESS TRUSTEE UNTIL 10/23 0.0
Director
$0 $0 $0
FRANCE A CORDOVA SENIOR TRUSTEE 4.0
Director
$0 $0 $0
WILLIAM H DAVIDOW SENIOR TRUSTEE 4.0
Director
$0 $0 $0
DAVID T DREIER TRUSTEE 2.0
Director
$0 $0 $0
JOSHUA S FRIEDMAN TRUSTEE 2.0
Director
$0 $0 $0
WILLIAM T GROSS TRUSTEE 2.0
Director
$0 $0 $0
FREDERICK J HAMEETMAN SENIOR TRUSTEE 1.0
Director
$0 $0 $0
DAVID D HO TRUSTEE 1.0
Director
$0 $0 $0
MARIA D HUMMER-TUTTLE SENIOR TRUSTEE 2.0
Director
$0 $0 $0
BOBBY R INMAN SENIOR TRUSTEE UNTIL 10/23 1.0
Director
$0 $0 $0
ROBERT T JENKINS SENIOR TRUSTEE 2.0
Director
$0 $0 $0
G BRADFORD JONES TRUSTEE 2.0
Director
$0 $0 $0
PETER D KAUFMAN TRUSTEE 2.0
Director
$0 $0 $0
MASSI JOSEPH KIANI TRUSTEE 2.0
Director
$0 $0 $0
LOUISE KIRKBRIDE TRUSTEE 4.0
Director
$0 $0 $0
WALTER G KORTSCHAK TRUSTEE 2.0
Director
$0 $0 $0
KENT KRESA SENIOR TRUSTEE 3.0
Director
$0 $0 $0
JON B KUTLER TRUSTEE 2.0
Director
$0 $0 $0
TAYLOR W LAWRENCE TRUSTEE 4.0
Director
$0 $0 $0
DAVID L LEE SENIOR TRUSTEE 2.0
Director
$0 $0 $0
A MICHAEL LIPPER SENIOR TRUSTEE 4.0
Director
$0 $0 $0
LI LU TRUSTEE 2.0
Director
$0 $0 $0
SHIRLEY M MALCOM SENIOR TRUSTEE 2.0
Director
$0 $0 $0
FARIBORZ MASEEH TRUSTEE 4.0
Director
$0 $0 $0
MICHELLE J MATHEWS-SPRADLIN TRUSTEE 2.0
Director
$0 $0 $0
DEBORAH D MCWHINNEY TRUSTEE 2.0
Director
$0 $0 $0
ALEXANDER R MEHRAN SR SENIOR TRUSTEE until 10/23 0.0
Director
$0 $0 $0
RICHARD N MERKIN SENIOR TRUSTEE 2.0
Director
$0 $0 $0
KENNETH G MOORE TRUSTEE 2.0
Director
$0 $0 $0
PRINEHA NARANG YOUNG ALUM. TRUSTEE 4.0
Director
$0 $0 $0
PETER NORTON SENIOR TRUSTEE 1.0
Director
$0 $0 $0
RONALD L OLSON SENIOR TRUSTEE 4.0
Director
$0 $0 $0
STEPHEN R ONDERDONK SENIOR TRUSTEE 2.0
Director
$0 $0 $0
PEDRO J PIZARRO TRUSTEE 4.0
Director
$0 $0 $0
DAVID E I PYOTT TRUSTEE 4.0
Director
$0 $0 $0
EDUARDO A REPETTO TRUSTEE 4.0
Director
$0 $0 $0
STEWART A RESNICK SENIOR TRUSTEE 2.0
Director
$0 $0 $0
RICHARD H SCHELLER TRUSTEE 2.0
Director
$0 $0 $0
AMY SCHULMAN TRUSTEE 2.0
Director
$0 $0 $0
TIMOTHY J SLOAN TRUSTEE 6.0
Director
$0 $0 $0
MASON SMITH TRUSTEE 2.0
Director
$0 $0 $0
SUBRA SURESH TRUSTEE AS OF 05/24 2.0
Director
$0 $0 $0
DAVID W THOMPSON TRUSTEE, CHAIR 10.0
Officer Director
$0 $0 $0
CHARLES R TRIMBLE SENIOR TRUSTEE 2.0
Director
$0 $0 $0
RICHMOND A WOLF TRUSTEE 10.0
Director
$0 $0 $0
KNEELAND YOUNGBLOOD TRUSTEE 2.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $4,165,188,000 $3,686,750,000 $7,827,509,000 $478,438,000
2023 $3,933,444,000 $3,704,492,000 $6,938,067,000 $228,952,000
2022 $3,616,401,000 $3,442,943,000 $6,336,115,000 $173,458,000
2021 $3,523,617,000 $3,276,012,000 $7,236,565,000 $247,605,000
2020 $3,522,009,000 $3,467,103,000 $6,252,584,000 $54,906,000
2019 $3,685,295,000 $3,541,262,000 $5,596,206,000 $144,033,000
2018 $3,515,581,000 $3,446,038,000 $5,593,996,000 $69,543,000
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