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Printable Form 990 (Schedule D) Sacramento California: What You Should Know
The Internal Revenue Service today announced that Public Policy Institute of California has paid the IRS a record 12.1 million in back taxes over the past 13 years. The organization's self-reported annual income from 2025 to 2025 was nearly 400 million. The Institute's financial documents indicate that between 2025 and 2010, the nonprofit organization reported a total of 4 million in revenue, including nearly 3 million from a single donor in 2009. But despite the 4 million in revenue, the Institute's 2025 tax return noted a net operating loss of 1.7 million, and an 11.4 million debt. According to a statement sent to ProPublica, the Institute filed a tax return with the California Secretary of State last year, but it was not received until a few days ago. The IRS did not respond to requests for additional information and the tax documents ProPublica reviewed are confidential under federal tax law. “We are pleased that the IRS completed its review and found that the Institute was reporting accurate and relevant information,” said Steve Miller, a spokesman for the Institute. The IRS found the Institute's reported operating expenses, from 2025 through 2010, were in an aggregate of 4.5 million, an amount that was too high, according to the notice. “As a result, the Commission has imposed a 1 million penalties on the Institute for the improper application of state gross receipts thresholds in preparing the application for charitable deduction,” the notice read. The Institute, which is incorporated in Sacramento, makes its primary source of revenue through student organizations and public interest projects. But the institute also generates income from its annual California Summer Undergraduate Program and by selling tickets at events billed as “the most popular event on campus,” according to the organization's website. The Institute also earns royalties from public speaking, media consulting and book contracts. The California Attorney General's Office launched its own investigation into the Institute's accounting practices, which “have significantly distorted” its income from the State-Sponsored Summer Undergraduate Program, the Institute's general counsel, Michael G. Williams, wrote in the letter to the IRS. The Institute has since filed a tax return for the 2025 fiscal year with more complete information, according to the organization's director of communications, Alex M. German. “The IRS has confirmed to us that all the above has been resolved,” German said. Miller said the Institute's finances are being thoroughly audited and the organization is cooperating fully with that endeavor.
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