2025-11-09T20:19:13-06:00 2024-12-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DR STE 1000 COSTA MESA CA 92626 990 2024-01-01 320570956 UNITED STATES OLYMPIC AND PARALYMPIC PROPERTIES LLC UNIT 4243204500 1150 SOUTH OLIVE STREET 700 LOS ANGELES CA 90015 KAREN STURGES CFO 4243204500 2025-11-07 1 0 JOHN W SADOFF JR P00540589 7144367100 2024 2025-03-06 01:10:19Z X KAREN STURGES 1150 SOUTH OLIVE STREET 700 LOS ANGELES CA 90015 216282143 0 X HTTP://WWW.LA28.ORG X 2022 DE THE ORGANIZATION AIMS TO BENEFIT THE RESIDENTS OF THE UNITED STATES THROUGH THE PLANNING, PROMOTION AND STAGING OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES. 4 3 39 3 0 0 34312491 0 34319198 206892496 1029333 8913705 1980007 475942 71641029 216282143 0 0 0 0 7282678 6307408 0 0 0 72818151 83977336 80100829 90284744 -8459800 125997399 147990533 372771867 235837845 334621780 -87847312 38150087 THE ORGANIZATION AIMS TO BENEFIT THE RESIDENTS OF THE UNITED STATES THROUGH THE PLANNING, PROMOTION AND STAGING OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES. 0 0 89500051 207368438 RAISING FUNDS TO BE USED TO PLAN, ORGANIZE, FINANCE, PROMOTE, SPONSOR, HOST AND STAGE THE 2028 GAMES. 89500051 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 14 0 39 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 1 1 1 1 0 CA X KAREN STURGES 4243204500 1150 SOUTH OLIVE STREET STE 700 LOS ANGELES CA 90015 REYNOLD HOOVER DIRECTOR & CHIEF EXEC OFFICER (LA28) 0.10 39.90 X 0 481831 5548 CASEY WASSERMAN CHAIRPERSON/PRESIDENT 0.50 0.50 X X 0 0 0 GENE SYKES DIRECTOR 0.10 0.10 X 0 0 0 SARAH HIRSHLAND DIRECTOR 0.10 0.10 X 0 0 0 JOHN SLUSHER CHIEF EXECUTIVE OFFICER (USOPP) 39.90 0.10 X 933769 0 1957 TANJA OLANO CHIEF LGL/PPL/COMP OFF (END 9/24) 20.00 20.00 X 0 876400 12832 KAREN STURGES CHIEF FINANCIAL OFFICER 20.00 20.00 X 0 741670 35117 DANIEL KOBLIN CHIEF OPERATING OFFICER (USOPP) 39.90 0.10 X 725092 0 38015 CHRISTOPHER PEPE CHF COMMERCIAL OFF(USOPP)(END 12/24) 39.90 0.10 X 690210 0 3974 ELISABETH FREINBERG CHIEF LEGAL OFFICER & SECRETARY 20.00 20.00 X 0 513943 38652 AARON LOWENSTEIN VP, DEP GEN COUNSEL & ASST SECRETARY 20.00 20.00 X 0 238168 22217 TAMI MAJER CHIEF PEOPLE OFFICER 20.00 20.00 X 0 62814 3588 DAVID MINGEY SVP, COMMERCIAL PARTNERSHIPS 40.00 0.00 X 636924 0 44386 PETER ZEYTOONJIAN SVP, CONSUMER PRODUCTS 40.00 0.00 X 512757 0 22423 RYAN EDDY VP, PARTNERSHIPS 40.00 0.00 X 343027 0 12875 HAYLE CHUN SR DIRECTOR, BUSINESS OPERATIONS 40.00 0.00 X 265505 0 43990 VANESSA SHAY VP, PARTNERSHIP 40.00 0.00 X 299920 0 7130 KATHRYN CARTER FORMER CHIEF EXECUTIVE OFFICER 0.00 0.00 X 0 1950000 0 4407204 4864826 292704 19 1 1 0 SALESFORCECOM INC 415 MISSION STREET 3RD FLOOR SAN FRANCISCO CA 94105 INFORMATION TECHNOLOGY 5333861 I'M FROM THE FUTURE LLC 709 NORTH 2ND ST 300 PHILADELPHIA PA 19123 MARKETING, ADVERTISING, & MEDIA 1633463 ON LOCATION 8 RUE DE LA BAUME PARIS FR 75008 HOSPITALITY & EVENTS 377550 METHODOLOGY IT INC 8939 S SEPULVEDA BLVD SUITE 230 LOS ANGELES CA 90045 INFORMATION TECHNOLOGY 192798 COSM HOLLYWOOD PARK 5340 ALLA RD SUITE 140 LOS ANGELES CA 90066 SALES AND DEVELOPMENT 129610 8 SPONSORSHIP REVENUE 711300 188024766 188024766 LICENSING REVENUE 711300 18098499 18098499 CONTRACT REVENUE 711300 769231 769231 206892496 8913705 8913705 475942 475942 475942 216282143 207368438 0 8913705 2326561 2326561 3216539 2624306 592233 366039 366039 398269 398269 191253 72505 118748 6423774 6423774 1869 1729 140 5090067 5090067 15751 15751 1068125 994553 73572 RIGHTS PAYMENTS 71186497 71186497 90284744 89500051 784693 0 28880084 217215308 46032170 115969103 12941446 14889997 60136833 24697459 147990533 372771867 15410227 47354183 192734408 257791151 27693210 29476446 235837845 334621780 X -87847312 38150087 -87847312 38150087 147990533 372771867 125997399 0 X 0 1 X 1 0 X X 1 LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 472018941 7 1 16400000 0 1 16400000 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 DEPOSITS AND OTHER NON-CURRENT ASSETS 24697459 24697459 OTHER CURRENT LIABILITIES 10286808 OTHER NON-CURRENT LIABILITIES 19189638 29476446 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON INCOME FROM ACTIVITIES RELATED TO THEIR EXEMPT PURPOSES UNDER IRC SECTION 501(A) OF THE INTERNAL REVENUE CODE AS ORGANIZATIONS DESCRIBED IN IRC SECTION 501(C)(3). ON AUGUST 31, 2023, USOPP RECEIVED A DETERMINATION LETTER FROM THE IRS CONFIRMING APPROVAL OF ITS 501(C)(3) STATUS, EFFECTIVE AS OF DECEMBER 22, 2022. THE ORGANIZATION IS ALSO A PUBLIC CHARITY UNDER IRC SECTION 509(A). THE ORGANIZATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX FOR INCOME FROM OPERATING ACTIVITIES NOT RELATED TO THEIR EXEMPT PURPOSE. UNRELATED BUSINESS INCOME IS TAXED BASED ON THE APPLICABLE STATUTORY FEDERAL AND STATE INCOME TAX RATES FOR FOR-PROFIT ORGANIZATIONS. FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THE ORGANIZATION DID NOT HAVE UNRELATED BUSINESS INCOME OR UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2024, TAX YEARS AFTER 2020 ARE OPEN FOR AUDIT. EUROPE (INCLUDING ICELAND & GREENLAND) 0 30 PROGRAM SERVICES GAMES FUNDRAISING, OBSERVATIONS, AND IOC MEETINGS 609450 NORTH AMERICA 0 1 PROGRAM SERVICES GAMES FUNDRAISING, OBSERVATIONS, AND IOC MEETINGS 3098 0 31 0 0 0 31 612548 0 612548 0 0 0 0 0 0 X 1 1 1 0 0 0 0 0 0 0 0 KATHRYN CARTER FORMER CHIEF EXECUTIVE OFFICER 0 0 0 100000 0 1850000 0 0 0 0 0 1950000 0 0 JOHN SLUSHER CHIEF EXECUTIVE OFFICER (USOPP) 33654 0 900000 0 115 0 0 0 1957 0 935726 0 0 0 TANJA OLANO CHIEF LGL/PPL/COMP OFF (END 9/24) 0 474121 0 400850 0 1429 0 0 0 12832 0 889232 0 0 KAREN STURGES CHIEF FINANCIAL OFFICER 0 463793 0 274450 0 3427 0 0 0 35117 0 776787 0 0 DANIEL KOBLIN CHIEF OPERATING OFFICER (USOPP) 469468 0 254181 0 1443 0 0 0 38015 0 763107 0 0 0 CHRISTOPHER PEPE CHF COMMERCIAL OFF(USOPP)(END 12/24) 518487 0 170454 0 1269 0 0 0 3974 0 694184 0 0 0 DAVID MINGEY SVP, COMMERCIAL PARTNERSHIPS 445524 0 189957 0 1443 0 0 0 44386 0 681310 0 0 0 ELISABETH FREINBERG CHIEF LEGAL OFFICER & SECRETARY 0 319173 0 193000 0 1770 0 0 0 38652 0 552595 0 0 PETER ZEYTOONJIAN SVP, CONSUMER PRODUCTS 341815 0 169499 0 1443 0 0 0 22423 0 535180 0 0 0 REYNOLD HOOVER DIRECTOR & CHIEF EXEC OFFICER (LA28) 0 474519 0 0 0 7312 0 0 0 5548 0 487379 0 0 RYAN EDDY VP, PARTNERSHIPS 251232 0 65227 0 26568 0 0 0 12875 0 355902 0 0 0 HAYLE CHUN SR DIRECTOR, BUSINESS OPERATIONS 227875 0 36187 0 1443 0 0 0 43990 0 309495 0 0 0 VANESSA SHAY VP, PARTNERSHIP 246477 0 52000 0 1443 0 0 0 7130 0 307050 0 0 0 AARON LOWENSTEIN VP, DEP GEN COUNSEL & ASST SECRETARY 0 221221 0 15190 0 1757 0 0 0 22217 0 260385 0 0 PART I, LINE 1A FIRST-CLASS TRAVEL WAS PROVIDED TO ONE OFFICER AND ONE HIGHEST COMPENSATED EMPLOYEE, WHICH WAS NOT TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUALS. 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 4A THE ENTIRE AMOUNT LISTED IN COLUMN (B)(III) TO KATHRYN CARTER WAS MADE BY THE LOS ANGELES ORGANIZING COMMITTEE OF THE OLYMPIC AND PARALYMPIC GAMES 2028 PURSUANT TO THE TERMS OF A MUTUALLY AGREED UPON SEPARATION AGREEMENT. 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 UP TO FOUR (4) MEMBERS OF THE BOARD. LA28 HAS APPOINTED TWO (2) BOARD MEMBERS TO THE USOPP BOARD, INCLUDING THE LA28 CHAIR WHO EXERCISES THREE (3) VOTES ON BEHALF OF LA28, WHILE THE OTHER LA28 MEMBER EXERCISES ONE (1) VOTE 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 SVP 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. PART VI, LINE 12B: THE ORGANIZATION HAS A FORMAL CONFLICT OF INTEREST POLICY. ARTICLE III OF SUCH POLICY DESCRIBES PROCEDURES TO DISCLOSE AND RESOLVE CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 IN DECEMBER 2024, THE BOARD OF DIRECTORS OF LA28 ENGAGED MERCER TO EVALUATE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAM FOR LA28 AND USOPP'S PAID SENIOR EXECUTIVES ("THE EXECUTIVES"). IN MERCER'S REPORT ENTITLED EXECUTIVE COMPENSATION ASSESSMENT, 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 2024, THE BOARD REVIEWED AND RELIED UPON MERCER'S REPORT AND, HAVING DETERMINED THAT THE PROPOSED COMPENSATION FOR THE EXECUTIVES WAS APPROPRIATE AND REASONABLE, APPROVED SUCH COMPENSATION. ANY ADJUSTMENTS TO EXECUTIVE SALARY HAVE BEEN REVIEWED AND APPROVED BY THE BOARD. IN ADDITION, USOPP'S CHAIRPERSON WORKS FOR THE ORGANIZATION ON A VOLUNTARY BASIS WITHOUT COMPENSATION. IN CONJUNCTION WITH THE MERCER REPORT DISCUSSED ABOVE, MERCER ALSO CONDUCTED A SERIES OF MARKET PRICING AND BENCHMARKING EXERCISES TO EVALUATE AND DETERMINE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAMS FOR NON-EXECUTIVE 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. MERCER CONTINUES TO BE THE ADVISORY PARTY TO ANY COMPENSATION PROGRAMS FOR USOPP, INCLUDING PROVIDING ADVICE AND ANALYSIS WITH RESPECT TO COMPENSATION FOR NEW EXECUTIVE HIRES. 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. LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 1150 SOUTH OLIVE STREET STE 700 LOS ANGELES CA 90015 472018941 OLYMPIC AND PARALYMPIC GAMES HOST CA 501(C)(3) 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0