UNITED STATE OLYMPIC AND PARALYMPIC PROPERTIES LLC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- UNITED STATE OLYMPIC AND PARALYMPIC PROPERTIES LLC (EIN 32-0570956)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-14
- IRS object ID
- 202443199349311179
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-14T14:15:32-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 861065772 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DELOITTE TAX LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 695 TOWN CENTER DR STE 1000 | AddressLine1Txt |
| City | COSTA MESA | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 92626 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 320570956 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | UNITED STATES OLYMPIC AND PARALYMPIC | BusinessNameLine1Txt |
| Business Name Line2 | PROPERTIES LLC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | UNIT | BusinessNameControlTxt |
| Phone | 4243204500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10900 WILSHIRE BOULEVARD 700 | AddressLine1Txt |
| City | LOS ANGELES | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90024 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KAREN STURGES | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 4243204500 | PhoneNum |
| Signature | 2024-11-14 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | JOHN W SADOFF JR | PreparerPersonNm |
| PTIN | P00540589 | PTIN |
| Phone | 7144367100 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | KAREN STURGES | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10900 WILSHIRE BOULEVARD 700 | AddressLine1Txt |
| City | LOS ANGELES | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90024 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $71,641,029 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | HTTP://WWW.LA28.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2022 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES, LLC (USOPP) WILL IMPROVE AND ENHANCE THE QUALITY OF LIFE OF THE RESIDENTS OF THE CITY OF LOS ANGELES AND THE SURROUNDING METROPOLITAN AREA THROUGH THE HOSTING OF THE 2028 GAMES OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES IN LOS ANGELES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 3 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 3 | VotingMembersIndependentCnt |
| Total Employee | 47 | TotalEmployeeCnt |
| Total Volunteers | 3 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $34,312,491 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,492,056 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $34,319,198 | CYProgramServiceRevenueAmt |
| PY Investment Income | $645 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,029,333 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $1,980,007 | CYOtherRevenueAmt |
| PY Total Revenue | $1,492,701 | PYTotalRevenueAmt |
| CY Total Revenue | $71,641,029 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $157,532 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $7,282,678 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $27,407,796 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $2,143,160 | PYOtherExpensesAmt |
| CY Other Expenses | $72,818,151 | CYOtherExpensesAmt |
| PY Total Expenses | $2,300,692 | PYTotalExpensesAmt |
| CY Total Expenses | $80,100,829 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$807,991 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$8,459,800 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $48,056,767 | TotalAssetsBOYAmt |
| Total Assets EOY | $147,990,533 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $127,444,279 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $235,837,845 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$79,387,512 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$87,847,312 | NetAssetsOrFundBalancesEOYAmt |
| Mission | USOPP WILL IMPROVE AND ENHANCE THE QUALITY OF LIFE OF THE RESIDENTS OF THE CITY OF LOS ANGELES AND THE SURROUNDING METROPOLITAN AREA THROUGH THE HOSTING OF THE 2028 GAMES OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES IN LOS ANGELES. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Revenue | $24,606,184 | RevenueAmt |
| Desc | RAISING FUNDS TO BE USED TO PLAN, ORGANIZE, FINANCE, PROMOTE, SPONSOR, HOST AND STAGE THE 2028 GAMES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $27,616,686 | ExpenseAmt |
| Revenue | $11,693,021 | RevenueAmt |
| Desc | PROMOTING AND ADMINISTERING SPONSORSHIP, MARKETING, HOSPITALITY AND OTHER SPONSORSHIP RIGHTS RELATED TO USOPP, LA28, THE USOPC, THE 2028 OLYMPIC & PARALYMPIC GAMES, THE US OLYMPIC AND PARALYMPIC TEAMS AND OTHER EDITIONS OF THE OLYMPIC AND PARALYMPIC GAMES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $27,616,686 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 47 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 3 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 3 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | CA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KAREN STURGES | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 4243204500 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10900 WILSHIRE BOULEVARD STE 700 | AddressLine1Txt |
| City | LOS ANGELES | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90024 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| CASEY WASSERMAN | ||||||||
| CHAIRPERSON/PRESIDENT | 0.50 | 0.50 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SARAH HIRSHLAND | ||||||||
| DIRECTOR | 0.10 | 0.10 | Yes (X) | $0 | $0 | $0 | ||
| GENE SKYES | ||||||||
| DIRECTOR (BEGIN 01/23) | 0.10 | 0.10 | Yes (X) | $0 | $0 | $0 | ||
| CHRISTOPHER PEPE | ||||||||
| CHIEF COMMERCIAL OFFICER | 39.90 | 0.10 | Yes (X) | $927,210 | $0 | $1,148 | ||
| DANIEL KOBLIN | ||||||||
| CHIEF OPERATING OFFICER | 39.90 | 0.10 | Yes (X) | $712,380 | $0 | $6,168 | ||
| TANJA OLANO | ||||||||
| CHIEF LEGAL OFFICER | 20.00 | 20.00 | Yes (X) | $0 | $1,017,905 | $2,313 | ||
| KAREN STURGES | ||||||||
| CHIEF FINANCIAL OFFICER | 20.00 | 20.00 | Yes (X) | $0 | $629,320 | $6,168 | ||
| KATHRYN CARTER | ||||||||
| CHIEF EXECUTIVE OFFICER | 20.00 | 20.00 | Yes (X) | $0 | $1,995,290 | $4,554 | ||
| DAVID MINGEY | ||||||||
| SVP, PARTNERSHIP MGMT & ACTIVATION | 40.00 | 0.00 | $638,484 | $0 | $12,131 | Yes (X) | ||
| PETER ZEYTOONJIAN | ||||||||
| SVP, COMMERCE & EVENTS | 40.00 | 0.00 | $517,726 | $0 | $1,980 | Yes (X) | ||
| HAYLE CHUN | ||||||||
| SR DIRECTOR, BUSINESS OPERATIONS | 40.00 | 0.00 | $267,768 | $0 | $12,060 | Yes (X) | ||
| RYAN EDDY | ||||||||
| VP, PARTNERSHIPS | 40.00 | 0.00 | $334,058 | $0 | $5,045 | Yes (X) | ||
| PABLO GARCIA | ||||||||
| SR DIRECTOR, BUSINESS OPERATIONS | 40.00 | 0.00 | $242,216 | $0 | $1,126 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $3,639,842 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $3,642,515 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $52,693 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 23 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SALESFORCECOM INC | |||||
| 415 MISSION STREET 3RD FLOOR | SAN FRANCISCO | CA | 94105 | INFORMATION TECHNOLOGY | $5,333,861 |
| I'M FROM THE FUTURE LLC | |||||
| 709 NORTH 2ND ST 300 | PHILADELPHIA | PA | 19123 | MARKETING, ADVERTISING, & MEDIA | $503,684 |
| ARENSON CONSULTING GROUP INC | |||||
| 5921 MELVIN AVE | TARZANA | CA | 91356 | CONSULTING | $222,605 |
| METHODOLOGY IT INC | |||||
| 8939 S SEPULVEDA BLVD SUITE 230 | LOS ANGELES | CA | 90045 | INFORMATION TECHNOLOGY | $165,345 |
| BASIS RESEARCH | |||||
| 6121 SUNSET BLVD | LOS ANGELES | CA | 90028 | MARKETING, ADVERTISING, & MEDIA | $150,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 14 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $34,312,491 | AllOtherContributionsAmt |
| Total Contributions | $34,312,491 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SPONSORSHIP REVENUE | 711300 | $30,300,595 | $30,300,595 |
| LICENSING REVENUE | 711300 | $3,249,372 | $3,249,372 |
| CONTRACT REVENUE | 711300 | $769,231 | $769,231 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $34,319,198 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,029,333 | TotalRevenueColumnAmt |
| Exclusion | $1,029,333 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OVERHEAD | Desc |
| Business | 711300 | BusinessCd |
| Total Revenue Column | $1,980,007 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,980,007 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $1,980,007 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $71,641,029 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $36,299,205 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,029,333 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,646,905 | TotalAmt |
| Program Services | $718,547 | ProgramServicesAmt |
| Management And General | $928,358 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,916,122 | TotalAmt |
| Program Services | $3,237,999 | ProgramServicesAmt |
| Fundraising | $1,678,123 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $336,894 | TotalAmt |
| Program Services | $209,016 | ProgramServicesAmt |
| Management And General | $801 | ManagementAndGeneralAmt |
| Fundraising | $127,077 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $382,757 | TotalAmt |
| Program Services | $239,347 | ProgramServicesAmt |
| Management And General | -$213 | ManagementAndGeneralAmt |
| Fundraising | $143,623 | FundraisingAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $311,484 | TotalAmt |
| Program Services | $105,000 | ProgramServicesAmt |
| Fundraising | $206,484 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,877,498 | TotalAmt |
| Program Services | $757,422 | ProgramServicesAmt |
| Fundraising | $1,120,076 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,712 | TotalAmt |
| Program Services | $4,864 | ProgramServicesAmt |
| Management And General | $12,407 | ManagementAndGeneralAmt |
| Fundraising | $11,441 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,017,150 | TotalAmt |
| Program Services | $373 | ProgramServicesAmt |
| Management And General | $5,016,777 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,388 | TotalAmt |
| Program Services | $2,953 | ProgramServicesAmt |
| Management And General | $981 | ManagementAndGeneralAmt |
| Fundraising | $15,454 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $715,870 | TotalAmt |
| Program Services | $413,210 | ProgramServicesAmt |
| Management And General | -$5,912 | ManagementAndGeneralAmt |
| Fundraising | $308,572 | FundraisingAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | RIGHTS PAYMENTS | Desc |
| Total | $64,848,049 | TotalAmt |
| Program Services | $21,927,955 | ProgramServicesAmt |
| Management And General | $19,123,148 | ManagementAndGeneralAmt |
| Fundraising | $23,796,946 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,100,829 | TotalAmt |
| Program Services | $27,616,686 | ProgramServicesAmt |
| Management And General | $25,076,347 | ManagementAndGeneralAmt |
| Fundraising | $27,407,796 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,415,653 | BOYAmt |
| EOY | $28,880,084 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $33,698,154 | BOYAmt |
| EOY | $46,032,170 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $122,656 | BOYAmt |
| EOY | $0 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,820,304 | BOYAmt |
| EOY | $12,941,446 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $60,136,833 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,056,767 | BOYAmt |
| EOY | $147,990,533 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,584,981 | BOYAmt |
| EOY | $15,410,227 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $118,288,079 | BOYAmt |
| EOY | $192,734,408 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $571,219 | BOYAmt |
| EOY | $27,693,210 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $127,444,279 | BOYAmt |
| EOY | $235,837,845 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$79,387,512 | BOYAmt |
| EOY | -$87,847,312 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$79,387,512 | BOYAmt |
| EOY | -$87,847,312 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $48,056,767 | BOYAmt |
| EOY | $147,990,533 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$8,459,800 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $34,312,491 | CurrentTaxYearAmt |
| Total | $34,312,491 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $34,312,491 | CurrentTaxYearAmt |
| Total | $34,312,491 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $24,446,290 | SubstantialContributorsTotAmt |
| Public Support Total170 | $9,866,201 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | $645 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,029,333 | CurrentTaxYearAmt |
| Total | $1,029,978 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | $36,299,205 | CurrentTaxYearAmt |
| Total | $36,299,205 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $71,641,674 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $71,153,078 | GrossReceiptsRltdActivitiesAmt |
| First5 Years170 | Yes (X) | First5Years170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | SPONSORSHIP REVENUE - 2023 AMOUNT: $ 30,300,595. LICENSING REVENUE - 2023 AMOUNT: $ 3,249,372. CONTRACT REVENUE - 2023 AMOUNT: $ 769,231. OTHER REVENUE - 2023 AMOUNT: $ 1,980,007. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEPOSITS AND OTHER NONCURRENT ASSETS | Desc |
| Book Value | $60,136,833 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $60,136,833 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| PAYROLL LIABILITIES | $554,445 |
| OTHER LONG-TERM LIABILITIES | $27,138,765 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $27,693,210 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION RECOGNIZES THE FINANCIAL STATEMENT BENEFIT OF A TAX POSITION ONLY AFTER DETERMINING THAT THE RELEVANT TAX AUTHORITY WOULD MORE-LIKELY-THAN-NOT SUSTAIN THE POSITION FOLLOWING AN AUDIT. FOR TAX POSITIONS MEETING THE MORE-LIKELY-THAN-NOT THRESHOLD, THE AMOUNT RECOGNIZED IN THE FINANCIAL STATEMENTS IS THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAX AUTHORITY. AS OF DECEMBER 31, 2023 AND 2022, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2023, TAX YEARS AFTER 2019 ARE OPEN FOR AUDIT. | ExplanationTxt |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp (3 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|---|
| EAST ASIA AND THE PACIFIC | 0 | 2 | PROGRAM SERVICES | GAMES OPERATIONS AND IOC MEETINGS | $9,656 |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 20 | PROGRAM SERVICES | GAMES OPERATIONS AND IOC MEETINGS | $137,958 |
| SOUTH AMERICA | 0 | 5 | PROGRAM SERVICES | GAMES OPERATIONS AND IOC MEETINGS | $13,220 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 20 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 20 | TotalEmployeeCnt |
| Subtotal Spent | $160,834 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $160,834 | TotalSpentAmt |
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | Yes (1) | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | Yes (1) | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| KATHRYN CARTER | ||||||||||||||
| CHIEF EXECUTIVE OFFICER | $0 | $975,593 | $0 | $1,017,500 | $0 | $2,197 | $0 | $0 | $0 | $4,554 | $0 | $1,999,844 | $0 | $617,500 |
| TANJA OLANO | ||||||||||||||
| CHIEF LEGAL OFFICER | $0 | $478,493 | $0 | $537,201 | $0 | $2,211 | $0 | $0 | $0 | $2,313 | $0 | $1,020,218 | $0 | $143,451 |
| CHRISTOPHER PEPE | ||||||||||||||
| CHIEF COMMERCIAL OFFICER | $567,023 | $0 | $257,982 | $0 | $102,205 | $0 | $0 | $0 | $1,148 | $0 | $928,358 | $0 | $157,982 | $0 |
| DANIEL KOBLIN | ||||||||||||||
| CHIEF OPERATING OFFICER | $476,300 | $0 | $182,705 | $0 | $53,375 | $0 | $0 | $0 | $6,168 | $0 | $718,548 | $0 | $132,705 | $0 |
| DAVID MINGEY | ||||||||||||||
| SVP, PARTNERSHIP MGMT & ACTIVATION | $452,006 | $0 | $157,564 | $0 | $28,914 | $0 | $0 | $0 | $12,131 | $0 | $650,615 | $0 | $132,564 | $0 |
| KAREN STURGES | ||||||||||||||
| CHIEF FINANCIAL OFFICER | $0 | $471,420 | $0 | $155,709 | $0 | $2,191 | $0 | $0 | $0 | $6,168 | $0 | $635,488 | $0 | $138,000 |
| PETER ZEYTOONJIAN | ||||||||||||||
| SVP, COMMERCE & EVENTS | $346,789 | $0 | $117,804 | $0 | $53,133 | $0 | $0 | $0 | $1,980 | $0 | $519,706 | $0 | $67,804 | $0 |
| RYAN EDDY | ||||||||||||||
| VP, PARTNERSHIPS | $253,746 | $0 | $62,238 | $0 | $18,074 | $0 | $0 | $0 | $5,045 | $0 | $339,103 | $0 | $47,133 | $0 |
| HAYLE CHUN | ||||||||||||||
| SR DIRECTOR, BUSINESS OPERATIONS | $230,156 | $0 | $33,750 | $0 | $3,862 | $0 | $0 | $0 | $12,060 | $0 | $279,828 | $0 | $33,750 | $0 |
| PABLO GARCIA | ||||||||||||||
| SR DIRECTOR, BUSINESS OPERATIONS | $214,620 | $0 | $25,287 | $0 | $2,309 | $0 | $0 | $0 | $1,126 | $0 | $243,342 | $0 | $25,287 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 3 | LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028, A RELATED ORGANIZATION OF UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES, LLC, USES THE FOLLOWING METHODS TO ESTABLISH THE COMPENSATION OF THE ORGANIZATION'S CEO: - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION COMMITTEE - APPROVAL BY THE BOARD OF COMPENSATION COMMITTEE |
| PART I, LINE 5 | THE ORGANIZATION'S BOARD OF DIRECTORS APPROVED THE FRAMEWORK FOR A LONG-TERM INCENTIVE BONUS PLAN FOR EXECUTIVES AND MEMBERS OF SENIOR LEADERSHIP. THE PURPOSE OF THE PLAN IS TO: (A) DRIVE PERFORMANCE AHEAD OF THE OLYMPIC AND PARALYMPIC GAMES IN 2028, (B) REWARD EXECUTION LEADING UP TO THE OLYMPIC AND PARALYMPIC GAMES IN 2028, AND (C) RETAIN KEY EMPLOYEES OF THE ORGANIZATION THROUGH THE OLYMPIC AND PARALYMPIC GAMES IN 2028. AS OF DECEMBER 31, 2023, SEVEN (7) EMPLOYEES WERE ELIGIBLE FOR THE LONG-TERM INCENTIVE BONUS PLAN. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | THE ORGANIZATION'S GOVERNING DOCUMENTS RESERVE THE RIGHT OF THE UNITED STATES OLYMPIC & PARALYMPIC COMMITTEE (USOPC) TO DESIGNATE AND ELECT TWO (2) MEMBERS OF THE BOARD. THE ORGANIZATION'S GOVERNING DOCUMENTS RESERVE THE RIGHT OF THE LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 (LA28) TO DESIGNATE AND ELECT FOUR (4) MEMBERS OF THE BOARD. LA28 HAS ONLY APPOINTED ONE BOARD MEMBER TO THE USOPP BOARD. THE BOARD MEMBER APPOINTED AND ELECTED BY LA28 EXERCISES ALL FOUR VOTES ON BEHALF OF LA28. |
| FORM 990, PART VI, SECTION A, LINE 7A | USOPC SHALL HAVE THE RIGHT TO DESIGNATE AND ELECT TWO (2) DIRECTORS, WHICH SHALL INCLUDE THE USOPC CEO. LA28 SHALL HAVE THE RIGHT TO DESIGNATE AND ELECT THE REMAINING FOUR (4) DIRECTORS, WHICH SHALL INCLUDE THE LA28 CHAIR. |
| FORM 990, PART VI, SECTION A, LINE 7B | THE BYLAWS OF THE ORGANIZATION PROVIDE CERTAIN CONSENT RIGHTS TO USOPC. |
| FORM 990, PART VI, SECTION A, LINE 8B | THE ORGANIZATION DOES NOT HAVE ANY BOARD COMMITTEES. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE ORGANIZATION RETAINS A CERTIFIED PUBLIC ACCOUNTING FIRM TO PREPARE FORM 990. THE RETURN PREPARER PROVIDES A COPY OF FORM 990 TO THE ORGANIZATION'S CHIEF FINANCIAL OFFICER, CHIEF LEGAL OFFICER, AND VP CONTROLLER FOR REVIEW BEFORE IT IS FILED. ANY ISSUES ARISING FROM THESE REVIEWS ARE DISCUSSED AND RESOLVED WITH THE RETURN PREPARER BEFORE FILING. A COPY OF THE REVISED FORM 990 IS MADE AVAILABLE TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR ITS REVIEW. FOLLOWING SUCH REVIEW, UPON UNANIMOUS APPROVAL FROM THE USOPP BOARD OF DIRECTORS, FORM 990 IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12 | THE ORGANIZATION HAS A FORMAL CONFLICT OF INTEREST POLICY. ARTICLE III OF SUCH POLICY DESCRIBES PROCEDURES TO DISCLOSE AND RESOLVE CONFLICTS OF INTEREST. IN 2022, THE CONFLICT OF INTEREST ANNUAL DISCLOSURE PROCESS WAS COMPLETED DURING 2022 WHEN USOPP WAS A JOINT VENTURE, BUT WAS NOT COMPLETED DURING THE SHORT-PERIOD 12/22/2022 - 12/31/2022. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION REVIEW PROCESS WAS COMPLETED BY A RELATED ENTITY, LA28. THE BELOW DESCRIBES THE PROCESS TO REVIEW AND APPROVE THE COMPENSATION OF THE USOPP EXECUTIVES BY LA28: IN MAY 2021 LA28 ENGAGED MERCER US INC. ("MERCER") TO EVALUATE THE REASONABLENESS OF THE PROPOSED COMPENSATION FOR LA28'S AND USOPP'S CEO. IN MERCER'S REPORT REGARDING LA28 CHIEF EXECUTIVE OFFICER REASONABLENESS OPINION FOR PROPOSED COMPENSATION ISSUED IN MAY 2021, MERCER DOCUMENTED ITS MARKET EVALUATION PROCESS AND FINDINGS. IN MERCER'S OPINION, THE BENCHMARKING AND MARKET EVALUATION PROCESS AND RESULTING MARKET COMPARABILITY DATA SATISFY ALL REQUIREMENTS FOR COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. ON MAY 4, 2021, THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF LA28 REVIEWED AND RELIED UPON MERCER'S REPORT AND, HAVING DETERMINED THAT THE PROPOSED COMPENSATION FOR THE CEO WAS APPROPRIATE AND REASONABLE, APPROVED SUCH COMPENSATION. IN ADDITION, LA28'S CHAIRPERSON WORKS FOR THE ORGANIZATION ON A VOLUNTARY BASIS WITHOUT COMPENSATION. IN 2023, THE BOARD OF DIRECTORS OF LA28 ENGAGED MERCER TO EVALUATE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAM FOR LA28'S AND USOPP'S PAID SENIOR EXECUTIVES ("THE EXECUTIVES"). IN MERCER'S REPORT ENTITLED EXECUTIVE COMPENSATION, MERCER DOCUMENTED ITS MARKET EVALUATION METHODOLOGY AND MARKET FINDINGS. IN MERCER'S OPINION, THE BENCHMARKING AND MARKET EVALUATION PROCESS AND RESULTING MARKET COMPARABILITY DATA SATISFY ALL REQUIREMENTS FOR COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. IN CONJUNCTION WITH THE MERCER REPORT DISCUSSED ABOVE, MERCER ALSO CONDUCTED A SERIES OF MARKET PRICING AND BENCHMARK EXERCISES TO EVALUATE AND DETERMINE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAMS FOR NON-EXECUTIVE LA28 AND USOPP PAID STAFF. THE BENCHMARKING AND MARKET EVALUATION PROCESS AND RESULTING MARKET COMPARABILITY DATA SATISFY ALL REQUIREMENTS FOR COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. IN 2023, THE LA28 BOARD REVIEWED AND RELIED UPON MERCER'S REPORT AND, HAVING DETERMINED THAT THE PROPOSED COMPENSATION FOR THE STAFF WAS APPROPRIATE AND REASONABLE, APPROVED SUCH COMPENSATION. ONGOING METHODOLOGY AND MARKET FINDINGS ARE IN PLACE TO INFORM ALL COMPENSATION DECISIONS FOR LA28 AND USOPP PAID STAFF. MERCER CONTINUES TO BE THE ADVISORY PARTY TO ANY COMPENSATION PROGRAMS FOR LA28 AND USOPP, INCLUDING PROVIDING ADVICE AND ANALYSIS WITH RESPECT TO COMPENSATION FOR NEW EXECUTIVE HIRES. ONGOING SINCE THE 2023 MERCER BENCHMARKING, LA28 AND USOPP EXECUTIVES HAVE PARTICIPATED IN THE ANNUAL PERFORMANCE REVIEW PROCESS AND HAVE RECEIVED ANNUAL SALARY INCREASE IN LINE WITH LA28 AND USOPP COMPENSATION PRACTICES FOR ALL STAFF. ANY ADJUSTMENTS TO EXECUTIVE SALARY OUTSIDE THE ANNUAL REVIEW PROCESS HAVE BEEN REVIEWED AND APPROVED BY BOARD. |
| FORM 990, PART VI, SECTION C, LINE 19 | CERTAIN GOVERNING DOCUMENTS ARE HELD AT THE ORGANIZATION'S PRINCIPAL OFFICE. SUCH DOCUMENTS ARE OPEN TO INSPECTION BY PERSONS, AS REQUIRED BY LAW, AT ALL REASONABLE TIMES DURING OFFICE HOURS. DOCUMENTS NOT AVAILABLE AT THE ORGANIZATION'S PRINCIPAL OFFICE ARE AVAILABLE UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10900 WILSHIRE BOULEVARD | AddressLine1Txt |
| City | LOS ANGELES | CityNm |
| State Abbreviation | CA | StateAbbreviationCd |
| ZIP | 90024 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 472018941 | EIN |
| Primary Activities | OLYMPIC AND PARALYMPIC GAMES HOST | PrimaryActivitiesTxt |
| Legal Domicile State | CA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | LINE 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Comments