2025-05-13T06:10:15-07:00 2024-06-30 231398811 DILWORTH PAXSON LLP 1650 MARKET STREET SUITE 1200 PHILADELPHIA PA 19103 990 2023-07-01 776216147 The ASC Trust at the University of Southern California ANNE 2155757000 c/o John R Latourette 1650 Market S Philadelphia PA 19103 John R Latourette Trustee 2155757000 2025-05-13 true true Isabela Alvarez P02482418 2155757312 2025-05-13 2023 2025-03-06 01:10:19Z X John R Latourette 1650 Market Street Suite 1200 Philadelphia PA 19103 8453257 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 9178535 8265156 227313 188101 9405848 8453257 6994786 7739782 0 0 0 0 26483 9405 7021269 7749187 2384579 704070 114157363 114861433 0 114157363 114861433 To support the Annenberg School for Communication and Journalism at the University of Southern California false false 7749187 7739782 8543257 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. The Trust is a tax-exempt organization under Section 501(c)(3) of the Code and a supporting organization under Section 509(a)(3) of the Code. 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, 2023 and ending June 30, 2024. Distibutions to the University of Southern California were made during the Trusts taxable year in the amount of $7,739,782. 7739782 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 2155757044 1650 Market Street Suite 1200 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 8265156 0 8265156 Internal Cost Reimbursement 900099 188101 0 0 188101 188101 8453257 0 0 8453257 7739782 7739782 8856 0 8856 0 Dilworth Paxson LLP Legal Costs 549 0 549 0 7749187 7739782 9405 0 114157363 114861433 114157363 114861433 0 0 X 114157363 114861433 114157363 114861433 114157363 114861433 704070 X false false false X X X 1 University of Southern CA 951642394 2 true 7739782 0 1 7739782 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 9405848 8453257 9405848 8453257 0 0 26483 9405 9379365 8443852 186395318 192153872 0 0 186395318 192153872 0 0 186395318 192153872 2795930 2882308 183599388 189271564 6425979 6624505 0 6425979 6624505 9379365 7972460 6425979 7972460 0 7972460 7739782 0 9405 0 0 0 7749187 7739782 7972460 0.971000000000 7972460 0 0 0 0 0 3683345 3683345 0 3683345 0 0 7749187 0 4289115 3460072 0 0 3460072 0 0 0 0 3460072 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 Trusts Taxable year in the amount of $7,739,782. 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 Trusts activities related to the University, and the Trusts satisfaction of the significant voice test, 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. 114166506 8453257 7739782 9405 114870576 111781927 9405848 6994786 26483 114166506 109522469 8374768 6097171 18139 111781927 108489558 7165174 6123859 8404 109522469 107493997 6902551 5906990 108489558 false false USC Endowment - Cost Basis 114861433 114861433 Pt V, Line 4 The Trusts 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) 7739782 0 FMV n/a Supported Organization 1 0 John R Latourette Trustee 9405 Legal services to trust false Part IV, Line 1 Interested person is a trustee and is a partner in a law firm that renders legal services to the Trust and is paid legal fees for services rendered. Dilworth received payment for legal fees and costs equal to $9,405. 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 organizations 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 approval of any compensation arrangement by the trustees, excluding any trustees that have a conflict of interest with respect to such arrangement, based on comparability data. Any such compensation decisions are contemporaneously documented through minutes of the meeting of trustees at which such decision was made. 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 true true false false false false false false false false false false false false false false false false false University of Southern California a 7739782 Investment Contract University of Southern California b 7739782 Determination of the Trustees