2024-05-13T07:02:24-07:00 2023-06-30 231398811 Dilworth Paxson LLP 1500 Market St Ste 3500E Philadelphia PA 19102 990 2022-07-01 776216147 The ASC Trust at the University of Southern California ANNE 2155757000 c/o John R Latourette Jr 1500 Marke Philadelphia PA 19102 John R Latourette Trustee 2155757000 2024-04-23 true John Latourette 000000000 true Isabela Alvarez P02482418 2155757312 2024-05-13 3 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z John R Latourette Jr 1500 Market Street Suite 3500E Philadelphia PA 19102 9405848 false X N/A X 2002 PA To support the Annenberg School for Communication and Journalism at the University of Southern California 5 4 0 0 0 0 0 0 8200680 9178535 174088 227313 8374768 9405848 6097171 6994786 0 0 0 0 18139 26483 6115310 7021269 2259458 2384579 111772784 114157363 0 111772784 114157363 To support the Annenberg School for Communication and Journalism at the University of Southern California false false 7021269 6994786 9405848 The Annenberg School for Communication Trust at the University of Southern California (hereinafter the "Trust") is a charitable trust established under the laws of the Commonwealth of Pennsylvania exclusively for the benefit of the Annenberg School for Communication and Journalism at the University of Southern California (hereinafter the "Annenberg School"), which is the school for the study of communications at the University of Southern California, an organization described in Sections 501(c)(3) and 170(b)(1)(A)(ii) of the Internal Revenue Code ("Code"), located in Los Angeles, California. The Annenberg School is a component part of the University of Southern California and is governed and operated by the Trustees of the University of Southern California. Pursuant to an IRS Determination letter dated February 7, 2011, the Trust is classified as a "Type III" supporting organization. The activities of the Trust are limited to the trustees making distributions of principal and income of the Trust to the Annenberg School. This Form 990 is being filed for a taxable year beginning July 1, 2022 and ending June 30, 2023. Distibutions to the University of Southern California were made during the Trust's taxable year in the amount of $6,994,786. 6994786 true false false false false false false false false true false false false true false false false false false false false false false false false false false true false false false false false false false true false false false false false false false true false false false true 0 0 true 0 false false false false false false false false false false false false false false false X 5 4 false false false false false false false true true false false true true true true true true false false false PA CA X John R Latourette Jr 2155757000 1500 Market Street Suite 3500E Philadelphia PA 19102 X Dean Willow Bay Trustee 1.00 X 0 0 0 Wallis Annenberg Trustee 1.00 X 0 0 0 David Ulich Trustee 1.00 X 0 0 0 Howard C Deshong III Trustee 1.00 X 0 0 0 John R Latourette Trustee 1.00 X 0 0 0 0 0 0 false false false 9178535 0 9178535 Internal Cost Reimbursement 900099 227313 0 0 227313 227313 9405848 0 0 9405848 6994786 6994786 26070 0 26070 0 Dilworth Paxson LLP Legal Costs 413 0 413 0 7021269 6994786 26483 0 111772784 114157363 111772784 114157363 0 0 X 111772784 114157363 111772784 114157363 111772784 114157363 2384579 X false false false X X X 1 University of Southern CA 951642394 2 true 6994786 0 1 6994786 0 0 0 0 0 true false false false false false false false false false false false false false false false true true true 0 0 0 8374768 9405848 8374768 9405848 0 0 18139 26483 8356629 9379365 203350596 186395318 0 0 203350596 186395318 0 0 203350596 186395318 3050259 2795930 200300337 183599388 7010512 6425979 0 7010512 6425979 8356629 7103135 7010512 7103135 0 7103135 6994786 0 26483 0 0 0 7021269 6994786 7103135 0.985000000000 7103135 0 0 0 0 0 3765211 3765211 0 3765211 0 0 7021269 0 3337924 3683345 0 0 3683345 0 0 0 0 3683345 Pt V Sec D Ln 8 The activities of the Trust are limited to the trustees making distributions of principal and income of the Trust to the University of Southern California (the "University"), exclusively for the benefit of the Annenberg School. Distributions to the University were made during the Trust's Taxable year in the amount of $6,994,786. Pt IV Sec D Ln 3 The University of Southern California (the "University") has a significant voice in the operation of the Trust, as a supporting organization, because: (i) the Dean of the Annenberg School is a Trustee of the Trust; (ii) the Annenberg School leadership at the University of Southern California and the Trustees have regularly scheduled meetings, and special meetings as necessary or requested; (iii) the University maintains investment control over the Trust assets pursuant to an investment agreement between the Trust and the University; and (iv) the Trustees are consistently responsive to the needs and demands of the Annenberg School throughout the year. Based on the foregoing factors described, the IRS classified the Trust(in the Determination Letter dated February 7, 2011) as a non-functionally integrated Type III supporting organization under Section 509(a)(3) of the Code. 111781927 9405848 6994786 26483 114166506 109522469 8374768 6097171 18139 111781927 108489558 7165174 6123859 8404 109522469 107493997 6902551 5906990 108489558 106653622 6650940 5799909 10656 107493997 false false USC Endowment - Cost Basis 114157363 114157363 Pt V, Line 4 The Trust's endowment funds are intended to be a permanent and perpetual endowment for the exclusive benefit of the Annenberg School at the University of Southern California, including, without limitation, for the following purposes: (i) support for faculty professorships; (ii) student scholarship support; (iii)post-graduate scholarship support; (iv)educational equipment; (v) maintenance, renovations and improvements with respect to the existing Annenberg School building, to ensure that the building is maintained in excellent condition and repair; and (vi) demolition and construction of new buildings for the Annenberg School. true University of Southern CA 3502 Watt Way Los Angeles CA 90089 951642394 501(c)(3) 6994786 0 FMV n/a Supported Organization 1 0 John R Latourette Trustee 26483 See Attached Statement false Pt VI, Line 2 John R. Latourette is a partner in a law firm that renders legal services to the organization. Pt VI, Line 11b The Form 990 is provided to each trustee of the organization prior to its filing. Each trustee has an opportunity to review, comment and approve prior to its filing. Pt VI, Line 12c The conflict of interest policy provides procedures for the organization's trustees to regularly and consistently monitor and enforce compliance with its conflict of interest policy, including annual and ongoing disclosure of actual or potential conflicts of interest. Pt VI, Line 15a The organization maintains a policy of financial and compensation arrangements with disqualified persons that requires independent review and approval of any compensation arrangement by the trustees, excluding any trustees that have a conflict of interest with respect to such arrangement, based on appropriate comparability data obtained by the Trustees through an unrelated third party. Any such compensation decisions are contemporaneously documented through minutes of the meeting of trustees at which such decision was made, including noting the Trustees without a conflict of interest that were present and voted on the arrangement. The organization does not have employees. Pt VI, Line 19 The organization makes its governing document, its conflict of interest policy, and its financial statements available to members of the public upon written request. University of Southern California 3502 Watt Way Los Angeles CA 90089 951642394 Education CA 501(c)(3) 2 NA false false true false false false false false false false false false false false false false false false false false University of Southern California b Determination of Trustees