The Milken Institute
The Milken Institute reported $389.0 million in revenue and $151.4 million in expenses for calendar year 2024. Of every $100 it spent, $90.84 went to program services, $5.63 to management and general costs and $3.53 to fundraising. Its largest source of revenue was contributions and grants: 91.6% of the total. The highest compensation it reported for one person was $1,123,036 (CHIEF EXECUTIVE OFFICER & PRESIDENT). 138 people received more than $100,000 in reportable compensation. Revenue rose 191% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $151MFor context, the median across 2,433 covered unclassified charities: $88.27 programs, $11.68 management, $0.05 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $389MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 90.8% | 86.7% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.6% | 11.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 3.5% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 91.6% | 29.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 3.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.8% | 58.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,123,036 | $301,601 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.74% | 1.38% |
| People paid over $100,000 Part VII, line 2 | 138 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 106.9 | 6.8 |
| Independent voting board members Part VI 1a–1b | 10 of 12 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe Milken Institute pursues its mission through a range of programmatic activities in our centers.mi health-fastercures works to improve the medical research system-- to clear roadblocks that prevent medical breakthroughs from reaching patients sooner. Its mission is to accelerate the progress of discovery and development of medical solutions through programs that educate stakeholders, amplify best practices, and create opportunities for leaders across sectors to come together and effect change.the mi finance promotes financial market understanding and works to expand access to capital…
The Milken Institute actively engages and educates leaders in business, seminars and conferences related to its charitable purpose. These include: global conference, future of health summit, asia summit, middle east and africa summit. The senior staff and fellows speak regularly at events across the united states and around the world. They are available for speaking at conferences and seminars on a variety of topics
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHIEF EXECUTIVE OFFICER & PRESIDENT Director/trustee, officer, 40.00 hrs/week | $1,044,552 | $0 | $78,484 | $1,123,036 |
| COO & CFO Officer, 40.00 hrs/week | $528,790 | $0 | $97,904 | $626,694 |
| EXECUTIVE VICE PRESIDENT Highest compensated employee, 40.00 hrs/week | $514,764 | $0 | $41,931 | $556,695 |
| EXECUTIVE VICE PRESIDENT Highest compensated employee, 40.00 hrs/week | $514,889 | $0 | $35,425 | $550,314 |
| EXEC DIR-BUSINESS & PROG DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $505,063 | $0 | $45,092 | $550,155 |
| EXEC DIRECTOR - MCAAD Highest compensated employee, 40.00 hrs/week | $489,347 | $0 | $52,592 | $541,939 |
| GENERAL COUNSEL Highest compensated employee, 40.00 hrs/week | $466,743 | $0 | $52,592 | $519,335 |
| EXECUTIVE VICE CHAIRMAN Director/trustee, officer, 40.00 hrs/week | $39,211 | $0 | $77,984 | $117,195 |
138 people received more than $100,000 in reportable compensation from The Milken Institute (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.9M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b12 · 10 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5357
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| DESIGN AND PRODUCTION INCORPORATED Art exhibit development | $13,199,082 |
| 4WALL ENTERTAINMENT INC Entertainment & production | $10,245,847 |
| RAND CONSTRUCTION CORPORATION Architecture and construction | $8,115,984 |
Individuals listed as contractors are left out. 137 contractors were paid more than $100,000 in all.
Private foundation grants it received
57 private foundations reported grants to The Milken Institute totaling $30M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Milken Institute's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Milken Institute, you can publish a response that is linked from this page.
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Of every $100 The Milken Institute spent in 2024, $90.84 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Johns Hopkins Community PhysiciansBaltimore, MD · revenue $381M · programs 87.0% · FY2025
- Family EndeavorsSan Antonio, TX · revenue $408M · programs 91.7% · 2024
- Providence Facey Medical FoundationRenton, WA · revenue $376M · programs 95.6% · 2024
- Institut PasteurFrance, · revenue $409M · programs 58.4% · 2025
- AHS Midwest ManagementLa Grange, IL · revenue $366M · programs 100.0% · 2024
All unclassified charities · Largest charities in California
Questions people ask
How much of The Milken Institute's spending goes to programs?
In calendar year 2024, The Milken Institute reported that 90.8% of its $151.4 million in expenses went to program services, 5.6% to management and general and 3.5% to fundraising (Form 990, Part IX).
How much does The Milken Institute pay its top executive?
The largest total compensation The Milken Institute reported for one person in calendar year 2024 was $1,123,036, for the role of CHIEF EXECUTIVE OFFICER & PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Milken Institute get its money?
Of $389.0 million in revenue in calendar year 2024, 91.6% came from contributions and grants and 0.8% from program service revenue (Form 990, Part VIII).
Is The Milken Institute a registered charity?
The IRS lists EIN 95-4240775 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202533219349311283 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443209349317619 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333199349327078 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203199349314010 · read the filing
- 2020: Form 990 for calendar year 2020, object 202123199349328847 · read the filing
- 2019: Form 990 for calendar year 2019, object 202013219349322806 · read the filing
All filings for EIN 95-4240775: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.