Civic Intelligence

University Corporation at Monterey Bay

EIN 77-0387459 • 501(c)3 • Monterey, CA

Profile

To use fiscal flexibility to provide resources and services not supported by the state, operational expertise to implement and manage commercial activities and entrepreneurial acumen to generate revenue in support of the university's strategic initiatives. The corporation is committed to supporting the university in building a multicultural learning community whose partners are prepared to contribute productively, responsibly and ethically to california and the global community.

8 Upper Ragsdale DriveMonterey, CA 93940

www.csumb.edu

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.66x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Liabilities / Revenue

80th percentile

1.53x

Higher debt load relative to revenue than 80% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Net Margin

57th percentile

6.9%

Higher net margin than 57% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Top Officer Pay

43rd percentile

$431,163

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2025

Asset Growth

21st percentile

-0.9%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Revenue Growth

69th percentile

17%

Faster revenue growth than 69% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2024 to 2025

Assets

Down

$220,142,016

Down $2,019,112 (-0.9%) from 2024

Liabilities

Down

$145,757,028

Down $5,501,588 (-3.6%) from 2024

Net Assets

Up

$74,384,988

Up $3,482,476 (+4.9%) from 2024

Revenue

Up

$95,552,872

Up $13,870,314 (+17%) from 2024

Expenses

Up

$88,988,882

Up $4,709,374 (+5.6%) from 2024

Net Income

Up

$6,563,990

Up $9,160,940 (+353%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2011: $106,099,525Liabilities 2011: $72,663,226Net Assets 2011: $33,436,2992011Assets 2012: $110,011,747Liabilities 2012: $70,691,017Net Assets 2012: $39,320,7302012Assets 2013: $112,381,844Liabilities 2013: $70,872,600Net Assets 2013: $41,509,2442013Assets 2014: $113,997,142Liabilities 2014: $68,043,083Net Assets 2014: $45,954,0592014Assets 2015: $119,284,257Liabilities 2015: $67,385,663Net Assets 2015: $51,898,5942015Assets 2016: $122,021,096Liabilities 2016: $65,397,790Net Assets 2016: $56,623,3062016Assets 2017: $197,508,037Liabilities 2017: $135,124,044Net Assets 2017: $62,383,9932017Assets 2018: $196,012,856Liabilities 2018: $130,160,504Net Assets 2018: $65,852,3522018Assets 2019: $200,941,927Liabilities 2019: $127,245,452Net Assets 2019: $73,696,4752019Assets 2020: $198,127,958Liabilities 2020: $124,046,985Net Assets 2020: $74,080,9732020Assets 2021: $199,917,843Liabilities 2021: $131,231,690Net Assets 2021: $68,686,1532021Assets 2022: $228,825,239Liabilities 2022: $162,040,300Net Assets 2022: $66,784,9392022Assets 2023: $223,603,733Liabilities 2023: $153,357,673Net Assets 2023: $70,246,0602023Assets 2024: $222,161,128Liabilities 2024: $151,258,616Net Assets 2024: $70,902,5122024Assets 2025: $220,142,016Liabilities 2025: $145,757,028Net Assets 2025: $74,384,9882025

Highlighted filing

2025

Assets$220,142,016
Liabilities$145,757,028
Net Assets$74,384,988

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MExpenses 2011: $49,581,1222011Expenses 2012: $38,707,0392012Expenses 2013: $42,876,2922013Revenue 2014: $43,167,152Expenses 2014: $40,558,502Net Income 2014: $2,608,6502014Revenue 2015: $47,379,879Expenses 2015: $39,892,062Net Income 2015: $7,487,8172015Revenue 2016: $55,092,344Expenses 2016: $50,100,874Net Income 2016: $4,991,4702016Revenue 2017: $57,464,356Expenses 2017: $53,105,854Net Income 2017: $4,358,5022017Revenue 2018: $60,735,695Expenses 2018: $57,560,033Net Income 2018: $3,175,6622018Revenue 2019: $65,303,571Expenses 2019: $58,893,639Net Income 2019: $6,409,9322019Revenue 2020: $61,239,062Expenses 2020: $61,697,272Net Income 2020: -$458,2102020Revenue 2021: $49,155,763Expenses 2021: $56,832,365Net Income 2021: -$7,676,6022021Revenue 2022: $72,925,924Expenses 2022: $83,426,081Net Income 2022: -$10,500,1572022Revenue 2023: $79,086,983Expenses 2023: $76,139,293Net Income 2023: $2,947,6902023Revenue 2024: $81,682,558Expenses 2024: $84,279,508Net Income 2024: -$2,596,9502024Revenue 2025: $95,552,872Expenses 2025: $88,988,882Net Income 2025: $6,563,9902025

Highlighted filing

2025

Revenue$95,552,872
Expenses$88,988,882
Net Income$6,563,990

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$220$146$74.4$95.6$89.0$6.56
2024Detailed filing. Detailed filing data is available for this year.$222$151$70.9$81.7$84.3$2.60
2023Detailed filing. Detailed filing data is available for this year.$224$153$70.2$79.1$76.1$2.95
2022Detailed filing. Detailed filing data is available for this year.$229$162$66.8$72.9$83.4$10.5
2021Detailed filing. Detailed filing data is available for this year.$200$131$68.7$49.2$56.8$7.68
2020Detailed filing. Detailed filing data is available for this year.$198$124$74.1$61.2$61.7$0.46
2019Detailed filing. Detailed filing data is available for this year.$201$127$73.7$65.3$58.9$6.41
2018Detailed filing. Detailed filing data is available for this year.$196$130$65.9$60.7$57.6$3.18
2017Detailed filing. Detailed filing data is available for this year.$198$135$62.4$57.5$53.1$4.36
2016Detailed filing. Detailed filing data is available for this year.$122$65.4$56.6$55.1$50.1$4.99
2015Detailed filing. Detailed filing data is available for this year.$119$67.4$51.9$47.4$39.9$7.49
2014Detailed filing. Detailed filing data is available for this year.$114$68.0$46.0$43.2$40.6$2.61
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$112$70.9$41.5$42.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$70.7$39.3$38.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$106$72.7$33.4$49.6
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 11, 2025
Return Version
2024v5.2
Gross Receipts
$174,397,139
Mission and Program Overview

Mission

To use fiscal flexibility to provide resources and services not supported by the state, operational expertise to implement and manage commercial activities and entrepreneurial acumen to generate revenue in support of the university's strategic initiatives. The corporation is committed to supporting the university in building a multicultural learning community whose partners are prepared to contribute productively, responsibly and ethically to california and the global community.

To further the programs of the california state university, monterey bay and support the university's scientific, literary, educational and charitable purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$135,430,289$137,417,598▲ $1,987,309
Rtn Earn Endowment Incm Other Fnds$70,902,512$74,384,988▲ $3,482,476
Investments in Publicly Traded Securities$54,315,359$39,278,361▼ $15,036,998
Savings and Temporary Cash Investments$3,494,940$10,980,128▲ $7,485,188
Pledges and Grants Receivable$8,738,176$10,339,289▲ $1,601,113
Accounts Receivable$3,770,261$6,989,354▲ $3,219,093
Cash and Non-Interest-Bearing Accounts$6,409,216$3,310,560▼ $3,098,656
Prepaid Expenses and Deferred Charges$164,736$298,822▲ $134,086
Other Notes and Loans Receivable, Net-$204,972-
Intangible Assets$61,906$150,140▲ $88,234
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$222,161,128$220,142,016▼ $2,019,112
Other Assets Total$9,776,245$11,172,792▲ $1,396,547
Liabilities
Other Liabilities$132,356,850$128,032,988▼ $4,323,862
Accounts Payable and Accrued Expenses$11,936,633$10,832,133▼ $1,104,500
Deferred Revenue$6,965,133$6,891,907▼ $73,226
Total Liabilities$151,258,616$145,757,028▼ $5,501,588
Net Assets / Fund Balance
Total Net Assets Fund Balance$70,902,512$74,384,988▲ $3,482,476
Total Liabilities and Net Assets / Fund Balance$222,161,128$220,142,016▼ $2,019,112

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$57,764,929$28,660,961-
Other Land Buildings$36,834,291$18,987,386-
Land$2,000,734--
Equipment$904,221$4,723,757-
Leasehold Improvements$39,913,423$26,891,365-
Other Assets Org$5,048,186--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sherry BaggettControllerFT$192,231$55,220$247,451
Maddison BurtonAssociate Executive DirectFT$193,652$33,621$227,273
Lee JohnsonSr. Research ScientistFT$167,036$42,792$209,828
Hirofumi HashimotoResearch ScientistFT$144,501$52,017$196,518
Adam PurdySr. Research ScientistFT$142,766$50,209$192,975
Alan Fisher Part YearInterim Executive DirectorFT$110,924$9,970$120,894
Arlene HaffaFaculty DirectorPT$22,056$166,666$22,056
Andrew NinoStudent Director--$3,480$3,480

Board Members and Trustees

NameTitle
Vanya Quinones PhdPresident
Robert Taylor EsqCommunity Member Director
Elizabeth MihopoulosStaff Director
Ben CorpusStudent Affairs Director
Gordon Mcdougall 11-53125University Advancement Director
Michael La Plante Beg 6125University Advancement Director
Andrew LawsonSecretary/treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
John F Otto INC Dba Otto ConstructionConstruction Services1717 2ND STREET, Sacramento, CA 95811$9,746,141
Ug2 LLCJanitorial Services1292 KIFER ROAD SUITE 805, Sunnyvale, CA 94086$1,378,529
Disaster Kleenup SpecialistsDisaster Mitigation Services2105 S 10TH ST, San Jose, CA 95112$704,648
Regional Government Services AuthorityStaffing ServicesPO BOX 1350, Carmel Valley, CA 93924$489,149
Green Waste Recovery INCWaste Removal Services2540 N FIRST STREET SUITE 300, San Jose, CA 95131$370,820
Revenue and Support

Revenue Composition

Contributions and Grants
$33,094,683
Program Service Revenue
$53,585,192
Investment Income
$7,786,427
Other Revenue
$1,086,570
All Other Contributions
$7,140,754
Change in Net Assets
$6,563,990

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table6$82,579Fair Market Value
Books and Publications-$9,600Fair Market Value
Clothing and Household Goods-$4,612Fair Market Value
Other Non Cash Contri Table5$4,198Fair Market Value
Securities Publicly Traded44$2,793Fair Market Value
Other Non Cash Contri Table3$1,057Fair Market Value
Total Noncash Contributions58$104,839-

Audited Revenue Reconciliation

Revenue per Audited Statements
$110,362,000
Revenue Not Reported on Financial Statements
$-14,809,128
Revenue Not Reported on Form 990
$-3,081,514
Other Revenue Adjustments
$-14,809,128
Total Revenue per Audited Statements
$107,280,486
Total Revenue per Form 990
$95,552,872
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$56,454,867
Salaries, Compensation, and Employee Benefits$19,428,293
Grants and Similar Amounts Paid$13,105,722
Total Fundraising Expense$811,009
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,848,796$898,451$526,129$14,273,376
Fees for Services Other$11,539,533$1,118,741$1,587$12,659,861
Grants to Domestic Orgs$11,972,770--$11,972,770
Occupancy$10,922,312$184,387-$11,106,699
Depreciation Depletion$9,541,726$373,649-$9,915,375
Interest$3,460,672$228-$3,460,900
Other Employee Benefits$2,134,038$681,051$93,855$2,908,944
Office Expenses$1,605,668$46,629$16,940$1,669,237
Payroll Taxes$1,058,757$224,930$47,310$1,330,997
Grants to Domestic Individuals$1,132,952--$1,132,952
Information Technology$592,141$460,617$220$1,052,978
Pension Plan Contributions$627,760$222,406$48,454$898,620
Conferences and Meetings$706,121$28,498$41,974$776,593
Travel$716,013$26,049$4,383$746,445
Fees for Services Management$494,383--$494,383
Advertising$194,545$24,930$724$220,199
Fees for Services Legal$110,342$63,190-$173,532
Fees for Services Accounting$13,900$88,945-$102,845
All Other Expenses$53,279$11,579$29,208$94,066
Fees for Service Investment Mgmnt Fees$69,493--$69,493
Other Expenses$27,009$24,526$225$51,535
Current Officers, Directors, Trustees, and Key Employees$12,941$3,415-$16,356
Payments to Affiliates-$7,490-$7,490
Total Functional Expenses$83,566,650$4,611,223$811,009$88,988,882

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$103,798,010
Expenses per Audited Statements$88,988,882
Total Expenses per Form 990$88,988,882
Expenses Not Reported on Form 990$14,809,128
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
California State University Monterey BaySeaside, CA115University Support and Scholarships$9,707,709
Uc Regents DavisWest Scramento, CA115Subaward$397,615
Foundation of California State University Monterey BaySeaside, CA501(c)(3)University Support$360,000
Resource Conservation District of Monterey CountySalinas, CA115Subaward$334,448
Hartnell CollegeSalinas, CA115Subaward$264,522
Open EtLas Vegas, NV115Subaward$186,677
Uc Santa CruzSanta Cruz, CA501(c)(3)Subaward$149,864
San Jose State UniversitySan Jose, CA115Subaward$124,847
Uc Santa BarbaraSanta Barbara, CA115Subaward$112,954
Monterey Peninsula CollegeMonterey, CA501(c)(3)Subaward$84,290
Csu Channel IslandCamarillo, CA115Subaward$56,304
Big Sur Land TrustMonterey, CA501(c)(3)Subaward$45,740
Evapotranspiration Plus LLCTwin Falls, ID501(c)(3)Subaward$32,360
Pennsylvania State UniversityUniversity Park, PA-Subaward$23,152
Csu Fullerton AscFullerton, CA501(c)(3)Subaward$19,043
Csu Dominguez Hills FoundationCarson, CA501(c)(3)Subaward$16,463
Villanova UniversityVillanova, PA115Subaward$11,010
El Camino Community CollegeTorrance, CA501(c)(3)Subaward$10,050
Colorado State University FoundationFort Collins, CO-Subaward$9,929
Csu Long Beach FoundationLong Beach, CA501(c)(3)Subaward$9,613
Winona State UniversityWinona, MN115Subaward$8,990
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$53,384
Fundraising Gross Income$9,962
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Wlc Luncheon$20,395$6,555$5,826$729
College of Business Showcase$34,707$3,407$12,973$-9,566
Total Events$55,102$9,962$53,384$-43,422
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
N/p to Csu$74,944,460
Capital Lease Obligations$39,866,657
Due to University$7,074,668
Gasb Capital Lease Obligation Adjustment$4,879,059
Due to Csu$512,442
Deposits$344,085
Due to Otter Student Union$137,489
Subscription Liability$132,809
Other Liabilities$72,734
Due to Foundation$68,585
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

The university president may appoint ex officio directors by virtue of office held with the university and must approve all directors. The university president is the ex officio president of the corporation.

Form 990, Part VI, Section A, Line 7B

Certain decisions, including changes to the governing body and organizational documents, are subject to review and approval of the university president, who also serves as the ex officio president of the corporation.

Form 990, Part VI, Section B, Line 11B

The audit committee, as authorized by the board, will review and approve the 990 before it is filed.

Form 990, Part VI, Section B, Line 12C

In addition to reviewing annually, the board members disclose potential conflicts of interest during the year as they arise. The board addresses conflicts of interest immediately upon disclosure.

Form 990, Part VI, Section B, Line 15

Compensation is reviewed against university pay schedules for comparability and the aoa annual salary survey.

Form 990, Part VI, Section C, Line 19

Governing documents, policies and financials are made available to the public upon request and via the website.

Form 990, Part VII, Section A

Board directors received compensation from related organizations for job duties unrelated to board responsibilities.

Filing and Contact Details

Filer

Filer Name
University Corporation at Monterey Bay
EIN
77-0387459
Phone
8315823395
Address
8 UPPER RAGSDALE DRIVE, MONTEREY, CA 93940

Signing Officer

Name
Sherry Baggett
Title
Controller
Phone
8315823395
Signed
2025-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maddison Burton
Formed
1994
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
1
Employees
795
Volunteers
142

Preparer

Firm
Glenn Burdette
Address
1150 PALM STREET, SAN LUIS OBISPO, CA 93401
Preparer
Mical W Bovee CPA
Phone
8055441441
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other: program service expenses 11,539,533. Management and general expenses 1,118,741. Fundraising expenses 1,587. Total expenses 12,659,861.

FORM 990, PART XII, LINE 2C (NO CHANGE):

The audit committee has oversight of the audit and recommends auditor selection to the board.

Financial Statement Notes

PART X, LINE 2:

The university corporation at monterey bay is not subject to fin 48 disclosure requirements under gasb.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Cost of goods sold -13,117,878. Rental expenses -1,691,250.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 13,117,878. Rental expenses 1,691,250.

Raw XML AppendixShowing 400 of 1,287 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt1UG2 LLC
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt2DISASTER KLEENUP SPECIALISTS
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3REGIONAL GOVERNMENT SERVICES AUTHORITY
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt4GREEN WASTE RECOVERY INC
IRS990/ContractorCompensationGrp/ServicesDesc0CONSTRUCTION SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc1JANITORIAL SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc2DISASTER MITIGATION SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc3STAFFING SERVICES
IRS990/ContractorCompensationGrp/ServicesDesc4WASTE REMOVAL SERVICES
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2INTERIM EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3UNIVERSITY ADVANCEMENT DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4UNIVERSITY ADVANCEMENT DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5STUDENT AFFAIRS DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6FACULTY DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7STAFF DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8STUDENT DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9COMMUNITY MEMBER DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10ASSOCIATE EXECUTIVE DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt11CONTROLLER
IRS990/Form990PartVIISectionAGrp/TitleTxt12SR. RESEARCH SCIENTIST
IRS990/Form990PartVIISectionAGrp/TitleTxt13RESEARCH SCIENTIST
IRS990/Form990PartVIISectionAGrp/TitleTxt14SR. RESEARCH SCIENTIST
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IRS990/MissionDesc0TO USE FISCAL FLEXIBILITY TO PROVIDE RESOURCES AND SERVICES NOT SUPPORTED BY THE STATE, OPERATIONAL EXPERTISE TO IMPLEMENT AND MANAGE COMMERCIAL ACTIVITIES AND ENTREPRENEURIAL ACUMEN TO GENERATE REVENUE IN SUPPORT OF THE UNIVERSITY'S STRATEGIC INITIATIVES. THE CORPORATION IS COMMITTED TO SUPPORTING THE UNIVERSITY IN BUILDING A MULTICULTURAL LEARNING COMMUNITY WHOSE PARTNERS ARE PREPARED TO CONTRIBUTE PRODUCTIVELY, RESPONSIBLY AND ETHICALLY TO CALIFORNIA AND THE GLOBAL COMMUNITY.
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