Lance and Hillary Milken Foundation
The Lance and Hillary Milken Foundation is a private foundation based in Santa Monica, California. Its 2024 filing reports grants to charitable organizations supporting community centers and programs, preschool–12th grade programs, higher education and research, cultural programs, health care, and human services.
Lance and Hillary Milken Foundation at a glance
In short: Lance and Hillary Milken Foundation gave $801K across 40 grants in 2024 (avg $20K), mostly in California. 45% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $801,070
- +13.1% vs 2023
- Grants made (2024)
- 40
- +37.9% vs 2023
- Average grant
- $20,027
- -18.0% vs 2023
- Median grant
- $1,800
- Total assets
- $13,413,123
- -3.3% vs 2023
- New grantees (estimate)
- 45% first-time grantees (18 of 40, 2024)
- Primary geography
- California (86% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to Lance and Hillary Milken Foundation
- Accepts unsolicited proposals
- No
- How to Apply
-
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds.
- Contact
Mailing address: 1250 Fourth Street 520, Santa Monica, CA 90401
Phone: (310) 570-4800
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Who Lance and Hillary Milken Foundation funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Jewish Community Foundation ($280K). Together the top 10 received $749K.
Grant Size Distribution
136 grants across all recorded years
The most common grant size was under $50K: 108 grants of 136 (79%).
Geographic Focus
Where this funder awards grants
In 2024, 86% of grant dollars went to recipients in California and 14% to recipients in Pennsylvania.
Grant Distribution by State
Share of 2024 grant dollars across all 40 itemized grants.
States
Cities
Is Lance and Hillary Milken Foundation open to new grantees?
45%
first-time grantees, 2024
In 2024, 18 of 40 grantees (45%) were first-time recipients. First grants averaged $6K; repeat grants $32K. How we count
Medians: $520 first-time, $5K repeat.
- 48% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+13%). Method
- In 2024 it paid out 103% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $555K (2020) to $801K (2024). In 2024 it made 40 grants totaling $801K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Jewish Community Foundation Los Angeles, CA | Community Centers & Programs | $280,000 |
| Wilshire Boulevard Temple Los Angeles, CA | Preschool - 12TH Grade Programs | $107,520 |
| The Jewish Federation of Greater Los Angeles Los Angeles, CA | Community Centers & Programs | $100,000 |
| University of Pennsylvania Philadelphia, PA | Higher Ed & Research Inst. & Progs | $83,700 |
| Milken Institute Santa Monica, CA | Higher Ed & Research Inst. & Progs | $67,000 |
| Brentwood School Los Angeles, CA | Preschool - 12TH Grade Programs | $55,000 |
| Penn Hillel Philadelphia, PA | Higher Ed & Research Inst. & Progs | $18,000 |
| California Community Foundation Los Angeles, CA | Community Centers & Programs | $16,000 |
| Los Angeles Ballet Los Angeles, CA | Cultural, Libraries & Museums | $11,500 |
| UCLA Mattel Childrens Hospital Los Angeles, CA | Health Care | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $13,413,123 | $374,616 | $832,347 | $801,070 | 40 | $813,285 | $579,566 | $793,245 |
| 2023 | $13,870,854 | $1,206,415 | $739,732 | $708,550 | 29 | $718,760 | $1,178,884 | $784,431 |
| 2022 | $13,404,171 | $446,826 | $862,700 | $758,550 | 26 | $770,940 | $414,131 | $740,201 |
| 2021 | $13,820,045 | $2,813,211 | $772,937 | $706,000 | 15 | $721,125 | $2,782,218 | $745,393 |
| 2020 | $11,779,771 | $2,087,163 | $580,953 | $554,860 | 26 | — | $2,060,679 | $624,341 |
Under IRS private-foundation payout rules, Lance and Hillary Milken Foundation reported a distributable amount of $793K for 2024 — the minimum it must pay out in qualifying distributions.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
No foundation mission statement is provided. Its 2024 grants included support for Jewish community organizations, schools, higher education, arts and culture, health care, and human services. Grantee missions illustrate some of the work supported: Brentwood School says it aims to inspire students to think critically and creatively, act ethically, and shape a future with meaning. Los Angeles Ballet describes its work as performing classical and modern ballet and providing accessible dance education. Baby2Baby says it provides children in poverty with diapers, clothing, and other essential necessities.
Grantmaking
In 2024, the foundation reported 40 grants totaling $801,070. Grant amounts ranged from $250 to $280,000, with a median of $1,800. Its largest listed grants were $280,000 to Jewish Community Foundation for community centers and programs; $107,520 to Wilshire Boulevard Temple for preschool–12th grade programs; $100,000 to The Jewish Federation of Greater Los Angeles for community centers and programs; $83,700 to the University of Pennsylvania for higher education and research; and $67,000 to Milken Institute for higher education and research.
Other listed recipients included Brentwood School ($55,000), Penn Hillel ($18,000), California Community Foundation ($16,000), Los Angeles Ballet ($11,500), UCLA Mattel Children’s Hospital ($10,000), Baby2Baby ($5,000), and City Year Inc ($5,000).
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Lance Milken as president and director; Hillary Milken as vice president and director; Ralph Finerman as secretary/treasurer and director; and Michael Milken and Lori Milken as directors.
Lance and Hillary Milken Foundation is led by Lance Milken, President & Director on every filing since 2020; none of the 5 officers listed in 2024 report compensation.
Officers on the 2024 filing
Lance Milken
President & Director
On filings since 2020
10 hrs/week
No compensation reported
Hillary Milken
Vice President & Director
On filings since 2020
5 hrs/week
No compensation reported
Lori Milken
Director
On filings since 2020
5 hrs/week
No compensation reported
Michael Milken
Director
On filings since 2020
5 hrs/week
No compensation reported
Ralph Finerman
Secretary, Treasurer & Director
On filings since 2020
5 hrs/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Lance and Hillary Milken Foundation
How much does Lance and Hillary Milken Foundation give each year?
Lance and Hillary Milken Foundation gave $801K across 40 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $709K across 29 grants.
What is Lance and Hillary Milken Foundation's typical grant size?
Lance and Hillary Milken Foundation's median grant in 2024 was $1,800, and its average grant was $20,027, across 40 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Lance and Hillary Milken Foundation that year got $6K on average.
Where does Lance and Hillary Milken Foundation give grants?
Lance and Hillary Milken Foundation gives mostly in California: 86% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Pennsylvania (14%). The most frequent recipient cities were Los Angeles, CA (20 grants), Philadelphia, PA (4 grants), New York, NY (4 grants) and Santa Monica, CA (2 grants).
Does Lance and Hillary Milken Foundation give general operating support?
Yes: 15% of Lance and Hillary Milken Foundation's 2024 grants with a stated purpose (6 of 40) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Community Centers & Programs" (13 grants), "Health Care" (6 grants) and "Higher Ed & Research Inst. & Progs" (5 grants).
Who are Lance and Hillary Milken Foundation's largest grantees?
Lance and Hillary Milken Foundation's largest 2024 grantees include Jewish Community Foundation ($280,000), Wilshire Boulevard Temple ($107,520) and The Jewish Federation of Greater Los Angeles ($100,000), according to its 2024 IRS Form 990-PF. Together they received 61% of its itemized 2024 grant dollars.
How large is Lance and Hillary Milken Foundation?
Lance and Hillary Milken Foundation reported $13.4M in total assets on its 2024 IRS Form 990-PF. It paid out $813K in qualifying distributions that year, against a required minimum of $793K (roughly 5% of its investment assets).
What does Lance and Hillary Milken Foundation fund?
No foundation mission statement is provided. Its 2024 grants included support for Jewish community organizations, schools, higher education, arts and culture, health care, and human services. See mission & focus areas ↑
How do I apply for a grant from Lance and Hillary Milken Foundation?
The foundation makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Lance and Hillary Milken Foundation's EIN?
Lance and Hillary Milken Foundation's EIN (Employer Identification Number) is 45-3190486. IRS Form 990 filing data is available on this page for 2020–2024.
Does Lance and Hillary Milken Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS November 12, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS November 14, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS November 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS November 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS November 13, 2025)
- IRS filings on file for fiscal years 2020–2024
Live grants for the work Lance and Hillary Milken Foundation funds
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Cite this profile
Grantable. (2026). Lance and Hillary Milken Foundation funder profile. GrantGraph. Retrieved October 21, 2026, from https://grantable.co/funders/lance-and-hillary-milken-foundation-morg_9319f14a53644cd4b930aff4e6c24083
BibTeX
@misc{grantable_453190486_2026,
author = {{Grantable}},
title = {{Lance and Hillary Milken Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/lance-and-hillary-milken-foundation-morg_9319f14a53644cd4b930aff4e6c24083},
note = {Accessed 2026-10-21. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from Lance and Hillary Milken Foundation's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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