2023-11-14T21:54:34-06:00 2022-12-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DR STE 1000 COSTA MESA CA 92626 990 2022-01-01 472018941 LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 LOSA 4243204500 10900 WILSHIRE BOULEVARD 700 LOS ANGELES CA 90024 KAREN STURGES CFO 4243204500 2023-11-13 1 KAREN STURGES 999009999 0 JOHN W SADOFF JR P00540589 7144367100 2023-11-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KAREN STURGES 10900 WILSHIRE BOULEVARD 700 LOS ANGELES CA 90024 53735230 0 X HTTP://WWW.LA28.ORG X 2014 CA THE CORPORATION PRIMARILY AIMS TO IMPROVE & ENHANCE THE QUALITY OF LIFE OF RESIDENTS OF L.A. & SURROUNDING AREAS THROUGH THE PROMOTION & SPONSORSHIP OF L.A. AS THE SITE OF THE OLYMPIC AND PARALYMPIC GAMES. 26 25 126 20 0 0 6689328 13831117 15264234 39329768 21262 503095 0 0 21974824 53663980 5141637 10877609 0 0 18327888 28705592 0 0 0 69773921 100636464 93243446 140219665 -71268622 -86555685 21819265 65050984 158171725 218725717 -136352460 -153674733 THE CORPORATION IS ORGANIZED PRIMARILY TO IMPROVE AND ENHANCE THE QUALITY OF LIFE OF THE RESIDENTS OF LOS ANGELES, CALIFORNIA AND THE SURROUNDING AREA THROUGH THE HOSTING OF THE GAMES OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES ("COLLECTIVELY, THE "GAMES"). 0 0 110095766 39329768 THE ORGANIZATION WORKS WITH THE CITY OF LOS ANGELES, THE UNITED STATES OLYMPIC & PARALYMPIC COMMITTEE ("USOPC") AND THE INTERNATIONAL OLYMPIC COMMITTEE ("IOC") TO HOST THE OLYMPIC AND PARALYMPIC GAMES IN LOS ANGELES AND THE SURROUNDING AREA. THE OLYMPIC AND PARALYMPIC GAMES WERE AWARDED TO THE CITY OF LOS ANGELES FOR 2028. AS PART OF ITS WORK, THE ORGANIZATION REACHES OUT TO THE COMMUNITY IN LOS ANGELES, INCLUDING FORMER OLYMPIANS AND PARALYMPIANS, TO GATHER SUPPORT AND RAISE FUNDS TO HOST THE 2028 OLYMPIC AND PARALYMPIC GAMES. 10877609 10877609 THE ORGANIZATION WILL FUND UP TO $160 MILLION IN YOUTH SPORTS IN THE CITY OF LOS ANGELES TO MAKE SPORTS MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELENOS LEADING UP TO THE GAMES IN 2028, BEGINNING THE LEGACY OF THE 2028 OLYMPIC AND PARALYMPIC GAMES. 120973375 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 43 0 1 126 1 0 0 0 0 0 1 0 0 0 0 0 1 0 X 26 25 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 CA X KAREN STURGES 4243204500 10900 WILSHIRE BOULEVARD STE 700 LOS ANGELES CA 90024 JANET B EVANS CHIEF ATHLETE OFFICER 40.00 0.00 X X 578010 0 137216 BEATRIZ ACEVEDO DIRECTOR 0.10 0.00 X 0 0 0 JESSICA ALBA DIRECTOR 0.10 0.00 X 0 0 0 MARK ATTANASIO DIRECTOR 0.10 0.00 X 0 0 0 JEANIE BUSS DIRECTOR 0.10 0.00 X 0 0 0 ANDY CAMPION DIRECTOR 0.10 0.00 X 0 0 0 MUFFY DAVIS DIRECTOR 0.10 0.00 X 0 0 0 ANITA DE FRANTZ DIRECTOR 0.10 0.00 X 0 0 0 DAVID HAGGERTY DIRECTOR 0.10 0.00 X 0 0 0 RON HERRERA DIRECTOR THRU OCT 2022 0.10 0.00 X 0 0 0 SARAH HIRSHLAND DIRECTOR 0.10 0.00 X 0 0 0 MELLODY HOBSON DIRECTOR 0.10 0.00 X 0 0 0 MATT JOHNSON DIRECTOR 0.10 0.00 X 0 0 0 MICHAEL JOHNSON DIRECTOR 0.10 0.00 X 0 0 0 JEFFREY KATZENBERG DIRECTOR 0.10 0.00 X 0 0 0 JAMIE LEE DIRECTOR 0.10 0.00 X 0 0 0 SUSANNE LYONS DIRECTOR 0.10 0.00 X 0 0 0 ANN PHILBIN DIRECTOR 0.10 0.00 X 0 0 0 ALISON RESSLER DIRECTOR 0.10 0.00 X 0 0 0 DANA SMITH DIRECTOR 0.10 0.00 X 0 0 0 MEGAN SMITH DIRECTOR 0.10 0.00 X 0 0 0 MARC STERN DIRECTOR 0.10 0.00 X 0 0 0 GENE SYKES DIRECTOR 0.10 0.00 X 0 0 0 MARK TATUM DIRECTOR 0.10 0.00 X 0 0 0 AMY WAKELAND DIRECTOR 0.10 0.00 X 0 0 0 STUART WALDMAN DIRECTOR 0.10 0.00 X 0 0 0 CASEY WASSERMAN CHAIRPERSON/PRESIDENT 0.10 0.00 X X 0 0 0 AMY GLEESON CHIEF MARKETING OFFICER 40.00 0.00 X 495436 0 124676 ANNA SCHMITZ SR MANAGER, RISK 20.00 20.00 X 216980 0 11580 BRIAN LAFEMINA CHIEF BUSINESS OFFICER 40.00 0.00 X 1063942 0 2309077 CHRIS PEPE CHIEF COMMERCIAL OFFICER (USOPP) 0.10 39.90 X 0 684482 158786 DANIEL KOBLIN CHIEF OPERATING OFFICER (USOPP) 0.10 39.90 X 0 587212 137693 DAVID MICHAEL CHIEF INFORMATION OFFICER 20.00 20.00 X 532087 0 146075 JOHN M HARPER CHIEF OPERATING OFFICER 40.00 0.00 X 596359 0 164491 KAREN STURGES CHIEF FINANCIAL OFFICER 20.00 20.00 X 202366 0 141393 KATHRYN CARTER CHIEF EXECUTIVE OFFICER 20.00 20.00 X 1517420 0 620316 MAUREEN HARPER SR VP, HUMAN RESOURCES 20.00 20.00 X 359689 0 66355 MICHELLE SCHWARTZ CHIEF EXTERNAL AFFAIRS OFFICER 40.00 0.00 X 467745 0 130311 TANJA OLANO CHIEF LEGAL OFFICER 20.00 20.00 X 548724 0 145246 LAUREN LAMKIN SR VP, COMMUNICATIONS AND PR 40.00 0.00 X 365414 0 68388 CHRIS THOMPSON SR VP, GOVERNMENT RELATIONS 40.00 0.00 X 372452 0 10444 ALLISON KATZ-MAYFIELD SR VP, GAMES PLANNING & DELIVERY 40.00 0.00 X 323378 0 60971 MIKE BERNSTEIN VP, INSIGHTS & ANALYTICS 40.00 0.00 X 321202 0 61196 JAMES PEARCE VP, DELIVERY PARTNERS 40.00 0.00 X 320423 0 63813 ANN MARIE RODRIGUEZ CHIEF STRATEGY OFFICER 20.00 20.00 X 336162 0 859 CIPORA HERMAN CHIEF FINANCIAL OFFICER 20.00 20.00 X 245475 0 2177 PATRICIA FEAU VP, HOST CITY RELATIONS 40.00 0.00 X 291157 0 58860 9154421 1271694 4619923 90 1 1 0 AECOM TECHNICAL SERVICES INC 300 S GRAND AVE LOS ANGELES CA 90071 CONSTRUCTION AND ENGINEERING 1609839 WORKDAY INC 6110 STONERIDGE MALL ROAD PLEASANTON CA 94588 SOFTWARE 1419114 GAVIN DE BECKER & ASSOCIATES LP 350 N GLENDALE AVE GLENDALE CA 91206 CONSULTING 1065945 NPI SOLUTIONS INC 130 W UNION STREET PASADENA CA 91103 CONSULTING 591925 WORKS COLLECTIVE LLC 6972 AMMONITE PL CARLSBAD CA 92009 CONSULTING 425855 43 13831117 13831117 USOPP, LLC JV INCOME 711300 39159768 39159768 HOSPITALITY REVENUE 711300 170000 170000 39329768 503095 503095 71250 71250 0 53663980 39329768 0 503095 X 10877609 10877609 13305905 7154058 6151847 13070137 7622701 5447436 1144477 734530 409947 1185073 607335 577738 120000 120000 94227 62943 31284 401557 401557 520721 520721 8007625 6053308 1954317 1091252 1060658 30594 258195 72786 185409 1998881 24028 1974853 2449211 1564860 884351 495483 325929 169554 384406 245444 138962 768418 768418 USOPP, LLC JV EXPENSES 81674553 81674553 RIGHTS PAYMENTS 2371875 2371875 OTHER EXPENSES 60 37 23 140219665 120973375 19246290 0 57654931 56016126 386303 398929 1769909 1715083 3553099 1568685 2368512 1984414 -40549744 0 189354 4936432 21819265 65050984 7151710 7685326 5138787 144170000 180000000 1711228 31040391 158171725 218725717 X -136352460 -153674733 -136352460 -153674733 21819265 65050984 X -86555685 69233412 X 0 1 X 1 0 X 6689328 13831117 20520445 6689328 13831117 20520445 17042484 3477961 177339 627682 149193 21262 574345 1549821 389196 764650 1153846 23224112 58613416 0.14980 0.16690 X THE ORGANIZATION RECEIVED CONTRIBUTIONS IN 2016 AND 2017, HOWEVER IN 2018 THE ORGANIZATION CHANGED ITS FOCUS FROM RAISING CONTRIBUTIONS FOR BIDDING ON THE 2024 OLYMPIC AND PARALYMPIC GAMES TO PREPARING FOR THE 2028 OLYMPIC AND PARALYMPIC GAMES, WHICH WERE AWARDED TO LOS ANGELES. STARTING IN 2021, THE ORGANIZATION BEGAN RECEIVING CONTRIBUTIONS TO SUPPORT ITS MISSION OF HOSTING THE 2028 OLYMPIC AND PARALYMPIC GAMES. THE ORGANIZATION IS ACTIVELY WORKING AT DEVELOPING ITS STRATEGY FOR PHILANTHROPY AND PUBLIC CONTRIBUTIONS. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PROVIDER REVENUE - 2018 AMOUNT: $ 389,196. 2019 AMOUNT: $ 764,650. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 520721 0 0 520721 0 PART II-B, LINE 1B DURING THE FISCAL PERIOD ENDED DECEMBER 31, 2022, TO ACCOMMODATE LOS ANGELES HOSTING THE GAMES IN 2028, LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 ("LA28") RELIED ON LA28'S PAID STAFF AND LA28'S PAID STRATEGIC ADVISORS, DLA PIPER, DENTONS, AND THE NICKLES GROUP TO COORDINATE WITH THE CONGRESSIONAL OLYMPIC AND PARALYMPIC CAUCUS, AND EDUCATE MEMBERS OF CONGRESS AND CONGRESSIONAL STAFF ABOUT PLANS FOR THE 2028 GAMES AND IN SUPPORT OF THE OLYMPIC AND PARALYMPIC MOVEMENTS IN THE UNITED STATES, GENERALLY. LA28 PAID STAFF, DLA PIPER, DENTONS AND THE NICKLES GROUP ALSO ENGAGED WITH FEDERAL GOVERNMENT OFFICIALS ON HOMELAND SECURITY, TRANSPORTATION, AND OTHER POLICY ISSUES RELATED TO THE 2028 GAMES. LA28 PAID STAFF AND LA28'S PAID STRATEGIC ADVISOR, SHAW YODER ANTWIH SCHMEIZER & LANGE ("SYASL") ENGAGED WITH CALIFORNIA GOVERNMENT OFFICIALS ON PLANS FOR THE 2028 GAMES AND ON TRANSPORTATION AND PUBLIC SAFETY PLANNING, INCLUDING IMPLEMENTATION OF ASSEMBLY BILL 1754, WHICH ESTABLISHES A CALIFORNIA OLYMPIC AND PARALYMPIC PUBLIC SAFETY COOPERATIVE. LA28 PAID STAFF WORKED WITH LOCAL GOVERNMENT OFFICIALS ON ISSUES RELATED TO GAMES PLANNING AND PREPARATION, INCLUDING TRANSPORTATION, PUBLIC SAFETY, AND SUSTAINABILITY ISSUES. LA28 STAFF EDUCATED MEMBERS OF THE LOS ANGELES CITY COUNCIL AND THEIR STAFF TO ASSIST THEIR CONSIDERATION OF YOUTH SPORTS PROGRAMMING AND APPROVAL OF AN AGREEMENT (GAMES AGREEMENT) TO ARTICULATE TAXPAYER PROTECTIONS AND POLICY PRIORITIES RELATED TO THE GAMES. PART II-B, LINE 1G LA28, DLA PIPER, DENTONS GLOBAL ADVISORS AND THE NICKLES GROUP HAD DIRECT CONTACT WITH GOVERNMENT OFFICIALS TO COORDINATE WITH THE CONGRESSIONAL OLYMPIC AND PARALYMPIC CAUCUS AND EDUCATE MEMBERS OF CONGRESS AND CONGRESSIONAL STAFF ABOUT PLANS FOR THE 2028 GAMES AND IN SUPPORT OF THE OLYMPIC AND PARALYMPIC MOVEMENTS IN THE UNITED STATES GENERALLY. LA28, DLA PIPER, DENTONS GLOBAL ADVISORS, AND THE NICKLES GROUP ALSO ENGAGED WITH GOVERNMENT OFFICIALS ON HOMELAND SECURITY, TRANSPORTATION AND OTHER POLICY ISSUES RELATED TO THE 2028 GAMES. LA28 AND SYASL ENGAGED WITH CALIFORNIA GOVERNMENT OFFICIALS ON TRANSPORTATION AND PUBLIC SAFETY PLANNING, INCLUDING IMPLEMENTATION OF ASSEMBLY BILL 1754, WHICH ESTABLISHES A CALIFORNIA OLYMPIC AND PARALYMPIC PUBLIC SAFETY COOPERATIVE. 3040194 1264891 1775303 89608 46792 42816 423297 257002 166295 1984414 RIGHT OF USE ASSETS 4500025 DEPOSITS AND OTHER NON-CURRENT ASSETS 436407 4936432 DEFERRED RENT/LEASE INCENTIVE - LT 5182233 DEFERRED RENT/LEASE INCENTIVE - ST 888203 OTHER CURRENT LIABILITIES 1735799 OTHER NONCURRENT LIABILITIES 23234156 31040391 X 55227932 1563952 1563952 53663980 0 53663980 142591607 2371942 2371942 140219665 0 140219665 PART X, LINE 2: "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, 2022 AND 2021, THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2022, TAX YEARS AFTER 2018 ARE OPEN FOR AUDIT." PART XI, LINE 2D - OTHER ADJUSTMENTS: USOPP JV INCOME REPORTED SEPARATELY ON USOPP SHORT-PERIOD FORM 990 1,492,702. RENTAL EXPENSES 71,250. PART XII, LINE 2D - OTHER ADJUSTMENTS: USOPP JV EXPENSES REPORTED SEPARATELY ON USOPP SHORT-PERIOD FORM 990 2,300,692. RENTAL EXPENSES 71,250. EUROPE 0 23 PROGRAM SERVICES GAMES OPERATIONS AND IOC MEETINGS 192543 0 23 0 0 0 23 192543 0 192543 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 CITY OF LOS ANGELES DEPARTMENT OF RECREATION AND PARKS 221 N FIGUEROA STREET SUITE 350 LOS ANGELES CA 90012 956000735 GOVT 10870065 0 ADVANCE ORGANIZATION'S MISSION BY FUNDING YOUTH SPORT PARTNERSHIP TO MAKE SPORT MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELINOS LEADING UP TO THE GAMES IN 2028. 1 PART I, LINE 2: GRANT RECIPIENTS ARE REQUIRED TO SEPARATELY ACCOUNT FOR THE USE OF THE GRANT FUNDS ON THEIR BOOKS AND RECORDS SO THAT THE ORGANIZATION CAN VERIFY IF THE FUNDS HAVE BEEN USED FOR CHARITABLE PURPOSES. THE ORGANIZATION HAS THE RIGHT TO AUDIT AND INSPECT THE BOOKS AND RECORDS OF ITS GRANT RECIPIENTS TO CONFIRM THE PROPER USE OF THE FUNDS. IF ANY FUNDS ARE NOT USED FOR THE PURPOSE OF THE GRANT, THE RECIPIENTS WILL BE REQUIRED TO RETURN SUCH FUNDS TO THE ORGANIZATION. X X X 0 0 0 1 1 0 0 0 0 BRIAN LAFEMINA CHIEF BUSINESS OFFICER 749987 0 310711 0 3244 0 2300000 0 9077 0 3373019 0 310711 0 KATHRYN CARTER CHIEF EXECUTIVE OFFICER 975000 0 540000 0 2420 0 617500 0 2816 0 2137736 0 540000 0 CHRIS PEPE CHIEF COMMERCIAL OFFICER (USOPP) 0 552543 0 129519 0 2420 0 157982 0 804 0 843268 0 129519 JOHN M HARPER CHIEF OPERATING OFFICER 471895 0 122364 0 2100 0 156287 0 8204 0 760850 0 122364 0 DANIEL KOBLIN CHIEF OPERATING OFFICER (USOPP) 0 464137 0 120884 0 2191 0 132705 0 4988 0 724905 0 120884 JANET B EVANS CHIEF ATHLETE OFFICER 455868 0 119722 0 2420 0 137100 0 116 0 715226 0 119722 0 TANJA OLANO CHIEF LEGAL OFFICER 433475 0 113400 0 1849 0 143451 0 1795 0 693970 0 113400 0 DAVID MICHAEL CHIEF INFORMATION OFFICER 466417 0 62610 0 3060 0 140100 0 5975 0 678162 0 62610 0 AMY GLEESON CHIEF MARKETING OFFICER 390732 0 102674 0 2030 0 117505 0 7171 0 620112 0 102674 0 MICHELLE SCHWARTZ CHIEF EXTERNAL AFFAIRS OFFICER 450000 0 15645 0 2100 0 128250 0 2061 0 598056 0 15645 0 LAUREN LAMKIN SR VP, COMMUNICATIONS AND PR 309625 0 54000 0 1789 0 62100 0 6288 0 433802 0 54000 0 MAUREEN HARPER SR VP, HUMAN RESOURCES 299304 0 58464 0 1921 0 60030 0 6325 0 426044 0 58464 0 ALLISON KATZ-MAYFIELD SR VP, GAMES PLANNING & DELIVERY 267712 0 50936 0 4730 0 59198 0 1773 0 384349 0 50936 0 JAMES PEARCE VP, DELIVERY PARTNERS 289015 0 26282 0 5126 0 57876 0 5937 0 384236 0 26282 0 CHRIS THOMPSON SR VP, GOVERNMENT RELATIONS 311883 0 58500 0 2069 0 0 0 10444 0 382896 0 58500 0 MIKE BERNSTEIN VP, INSIGHTS & ANALYTICS 269169 0 46944 0 5089 0 53986 0 7210 0 382398 0 46944 0 PATRICIA FEAU VP, HOST CITY RELATIONS 243631 0 42490 0 5036 0 46421 0 12439 0 350017 0 42490 0 KAREN STURGES CHIEF FINANCIAL OFFICER 201250 0 0 0 1116 0 138000 0 3393 0 343759 0 0 0 ANN MARIE RODRIGUEZ CHIEF STRATEGY OFFICER 213547 0 121770 0 845 0 0 0 859 0 337021 0 121770 0 CIPORA HERMAN CHIEF FINANCIAL OFFICER 127197 0 117735 0 543 0 0 0 2177 0 247652 0 117735 0 ANNA SCHMITZ SR MANAGER, RISK 194011 0 18313 0 4656 0 9757 0 1823 0 228560 0 18313 0 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, 2022, 32 EMPLOYEES WERE ELIGIBLE FOR THE LONG-TERM INCENTIVE BONUS PLAN. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS DELEGATED ALL THE POWER AND AUTHORITY OF THE BOARD, EXCEPT FOR THE DUTIES THAT HAVE BEEN EXPRESSLY DELEGATED TO OTHER COMMITTEES, AND EXCEPT FOR AUTHORITY THAT IS NOT PERMITTED TO BE POSSESSED BY OR DELEGATED TO A COMMITTEE UNDER CALIFORNIA NONPROFIT LAW, OR THE ARTICLES OF INCORPORATION OF THE ORGANIZATION, OR THE BYLAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS OF THE ORGANIZATION PROVIDE CERTAIN CONSENT RIGHTS TO THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE. 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 CHAIRPERSON, CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, CHIEF LEGAL OFFICER, VP CONTROLLER, AND AUDIT COMMITTEE 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 APPROVAL FROM THE ORGANIZATION'S CHAIRPERSON AND CHIEF EXECUTIVE OFFICER, FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ORGANIZATION HAS A FORMAL CONFLICT OF INTEREST POLICY. ARTICLE III OF SUCH POLICY DESCRIBES PROCEDURES TO DISCLOSE AND RESOLVE CONFLICTS OF INTEREST. ADDITIONAL OVERSIGHT IS BEING PROVIDED THROUGH THE CONFLICTS COMMITTEE UNDER THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 IN MAY 2021 LA28 ENGAGED MERCER US INC. ("MERCER") TO EVALUATE THE REASONABLENESS OF THE PROPOSED COMPENSATION FOR LA28'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 2022, THE BOARD OF DIRECTORS OF LA28 ENGAGED MERCER TO EVALUATE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAM FOR LA28'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 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 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 PAID STAFF. MERCER CONTINUES TO BE THE ADVISORY PARTY TO ANY COMPENSATION PROGRAMS FOR LA28, INCLUDING PROVIDING ADVICE AND ANALYSIS WITH RESPECT TO COMPENSATION FOR NEW EXECUTIVE HIRES. ONGOING SINCE THE 2022 MERCER BENCHMARKING, LA28 EXECUTIVES HAVE PARTICIPATED IN THE ANNUAL PERFORMANCE REVIEW PROCESS AND HAVE RECEIVED ANNUAL SALARY INCREASE IN LINE WITH LA28 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. FORM 990, PART IX, LINE 25, COLUMN (B) THE AUDITED FINANCIAL STATEMENTS INCLUDE USOPP, LLC EXPENSES AS FUNDRAISING EXPENSE. THE ACTIVITIES OF USOPP, LLC ARE IN FURTHERANCE OF THE MISSION OF THE LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 ("LA28") WHICH INCLUDES GATHERING SUPPORT AND RAISING FUNDS TO HOST THE 2028 OLYMPIC AND PARALYMPIC GAMES. AS SUCH, LA28 CONSIDERS THE EXPENSES INCURRED BY USOPP, LLC TO BE PROGRAM RELATED AND REPORTED AS PROGRAM SERVICE EXPENSES ON THE FORM 990, PART IX. FORM 990, PART XI, LINE 9: DISPOSITION OF PROGRAM-RELATED INVESTMENT DUE TO CONVERSION 69,233,412. OF JOINT-VENTURE TO TAX-EXEMPT ORGANIZATION UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES LLC 10900 WILSHIRE BOULEVARD STE 700 LOS ANGELES CA 90024 320570956 FUNDRAISING CA 501(C)(3) LINE 7 LA28 1 UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES LLC 10900 WILSHIRE BOULEVARD STE 700 LOS ANGELES CA 90024 SPONSORSHIP/MARKETING DE LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 RELATED 54483587 48056766 0 1 0.99990 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES LLC O 1788163 ACTUAL COST, RELATED OVERHEAD UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES LLC S 15000000 CASH