The Michael and Lori Milken Family
The Michael and Lori Milken Family Foundation is a private foundation based in Santa Monica, California, established in 2018. As a 501(c)(3) organization, it operates as a grantmaking foundation with a focus on education, philanthropy, and human services.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$401.7M
+8.9% YoY
Annual Giving
$26.1M
+14.2% YoY
Grant Count
86
-2.3% YoY
Avg Grant Size
$303K
+16.8% YoY
Under IRS private-foundation payout rules, The Michael and Lori Milken Family reported a distributable amount of $26.0M for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's grantmaking priorities include:
- Education and Research: Higher education and research institutions and programs
- Medical Research: Prostate cancer research
- Cultural Initiatives: Cultural institutions, libraries, and museums
- Human Services: Various human services programs
Grantmaking
The foundation supports a diverse portfolio of organizations across multiple sectors, with particularly substantial support directed toward the Milken Institute.
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on:
- California
- New York
- District of Columbia
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $401,741,080
- Total Revenue: $60,500,000
- Total Expenses: $27,800,000
- Total Liabilities: $182,000
- Number of Employees: 1
As of 2023:
- Total Assets: $369,013,261
- Total Revenue: $27,471,325
- Total Expenses: $24,477,826
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $401,741,080 | $369,013,261 | $368,665,367 |
| Revenue | $60,504,306 | $27,471,325 | $94,177,090 |
| Expenses | $27,830,407 | $24,477,826 | $20,514,438 |
| Qualifying Distributions | $26,598,909 | $23,399,474 | $18,497,966 |
| Net Investment Income | $31,481,382 | $11,256,938 | $76,124,253 |
| Distributable Amount | $25,952,099 | $23,422,340 | $20,164,069 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Jewish Community Foundation Charitable Fund ($20,000,000), Milken Institute ($1,289,016), Milken Community School ($925,000).
| Recipient | Purpose | Amount |
|---|---|---|
| JEWISH COMMUNITY FOUNDATION CHARITABLE FUND LOS ANGELES, CA | COMMUNITY CENTERS & PROGRAMS | $20,000,000 |
| MILKEN INSTITUTE SANTA MONICA, CA | MILKEN SCHOLARS PROGRAM | $1,289,016 |
| MILKEN COMMUNITY SCHOOL LOS ANGELES, CA | PRESCHOOL - 12TH GRADE PROGRAMS | $925,000 |
| MATTEL CHILDREN'S HOSPITAL AT UCLA LOS ANGELES, CA | HEALTH CARE | $617,000 |
| GEORGE WASHINGTON UNIVERSITY WASHINGTON, DC | HIGHER ED & RESEARCH INST. & PROGS | $400,000 |
| PROSTATE CANCER FOUNDATION SANTA MONICA, CA | PROSTATE CANCER RESEARCH | $302,000 |
| AMERICAN EXCHANGE PROJECT SUDBURY, MA | PRESCHOOL - 12TH GRADE PROGRAMS | $250,000 |
| OWNERSHIP WORKS NEW YORK, NY | COMMUNITY CENTERS & PROGRAMS | $250,000 |
| LOS ANGELES BALLET LOS ANGELES, CA | CULTURAL, LIBRARIES & MUSEUMS | $235,000 |
| ELLIS ISLAND HONORS SOCIETY FLORAL PARK, NY | CULTURAL, LIBRARIES & MUSEUMS | $225,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Trustees:
- Michael Milken
- Lori Milken
- Richard Sandler
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MICHAEL MILKEN | TRUSTEE | 5 | — |
| LORI MILKEN | TRUSTEE | 5 | — |
| RICHARD SANDLER | CO-TRUSTEE | 10 | $150,000 |
| GREGORY MILKEN | CO-TRUSTEE | 5 | — |
| LANCE MILKEN | CO-TRUSTEE | 5 | — |
| BARI MILKEN | CO-TRUSTEE | 5 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Michael and Lori Milken Family fund?
The foundation's grantmaking priorities include: • **Education and Research**: Higher education and research institutions and programs • **Medical Research**: Prostate cancer research • **Cultural Initiatives**: Cultural institutions, libraries, and museums • **Human Services**: Various human services programs
How do I apply for a grant from The Michael and Lori Milken Family?
**Grant Activity:** • Made 130 grants in 2023 • Total giving in 2024: $26,074,166 • Total giving in 2023: Approximately $24.5 million in expenses • Typical award range: $1,000–$20,000,000 **Recent Major Grants (2023):** • The Milken Institute: $18,956,703 • Prostate Cancer Foundation: $1,158,000 • Los Angeles Ballet: $455,000 The foundation supports a diverse portfolio of organizations across multiple sectors, with particularly substantial support directed toward the Milken Institute.
Where does The Michael and Lori Milken Family make grants?
The foundation's grantmaking focuses primarily on: • California • New York • District of Columbia
What size grants does The Michael and Lori Milken Family award?
In 2024, The Michael and Lori Milken Family awarded 86 grants totaling $26.1M — an average of about $303K per grant, based on its IRS Form 990 filings.
How much is The Michael and Lori Milken Family required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Michael and Lori Milken Family reported a distributable amount of $26.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Michael and Lori Milken Family's EIN?
The Michael and Lori Milken Family's EIN (Employer Identification Number) is 82-1927087. IRS Form 990 filing data is available on this page for 2020–2024.
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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