2025-11-12T09:24:15-08:00 2025-06-30 231398811 DILWORTH PAXSON LLP 1650 MARKET STREET SUITE 1200 PHILADELPHIA PA 19103 990 2024-07-01 810550464 The ASC Trust at the University of Pennsylvania ANNE 2155757000 c/o John R Latourette 1650 Market S Philadelphia PA 19103 John R Latourette Jr Trustee 2155757000 2025-10-16 true true Isabela Alvarez P02482418 2155757312 2025-11-12 2024 2025-03-06 01:10:19Z X John R Latourette 1650 Market Street Suite 1200 Philadelphia PA 19103 9441212 false X N/A X 2002 PA To support the Annenberg School for Communication at the University of Pennsylvania 5 4 0 0 0 0 0 0 9406065 9441212 0 9406065 9441212 9406065 9441212 0 0 0 0 24066 23660 9430131 9464872 -24066 -23660 122994110 122970450 0 122994110 122970450 To support the Annenberg School for Communication at the University of Pennsylvania false false 9464871 9441212 9441212 The Annenberg School for Communication Trust at the University of Pennsylvania (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 at the University of Pennsylvania (hereinafter the Annenberg School), which is the school for the study of communications at the University of Pennsylvania, an organization described in Section 501(c)(3) and 170(b)(1)(A)(ii) of the Internal Revenue Code (Code), located in Philadelphia, Pennsylvania. The Annenberg School is a component part of the University of Pennsylvania and is governed and operated by the Trustees of the University of Pennsylvania. Pursuant to an IRS Determination Letter dated June 6, 2002, 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 November 4, 2010, the Trust is classified as a Type III supporting organzization. The activities of the Trust are limited to the trustees making distributions of principal and income of the Trust to the University of Pennsylvania, exclusively for the benefit of the Annenberg School, pursuant to the Trust instrument. This Form 990 is being filed for a taxable year beginning July 1, 2024 and ending June 30, 2025. Distributions to the University of Pennsylvania were made during the Trusts taxable year in the amount of $9,406,065. 9441212 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 X 5 4 false false false false false false false true true false false true true true true true true false false false PA X John R Latourette 2155757000 1650 Market Street Suite 1200 Philadelphia PA 19103 X Sarah Banet-Weiser 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 Diane Deshong Trustee 1.00 X 0 0 0 John R Latourette Trustee 1.00 X 0 0 0 0 0 0 false false false 9441212 0 9441212 9441212 0 0 9441212 9441212 9441212 23573 0 23573 0 Dilworth Paxson LLP Legal Cost 87 0 87 0 9464872 9441212 23660 0 122994110 122970450 122994110 122970450 0 0 X 122994110 122970450 122994110 122970450 122994110 122970450 -23660 X false false false X X X 1 University of PA 231352685 2 true 9441212 0 1 9441212 0 0 0 0 0 true false false false false false false false false false false false false false false true true true 0 0 9406065 9441212 9406065 9441212 0 0 24066 23659 9381999 9417553 216606790 232987318 0 0 216606790 232987318 0 0 216606790 232987318 3249102 3494810 213357688 229492508 7467519 8032238 0 7467519 8032238 9381999 7974699 7467519 7974699 0 7974699 9441212 23659 0 0 0 0 9464871 9441212 7974699 1.000000000000 7974699 0 0 0 0 7721248 9430131 17151379 0 7974699 0 9176680 9464871 0 0 9464871 0 0 18641551 0 0 0 7974699 9464871 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 Pennsylvania, exclusively for the benefit of the Annenberg School. Distributions to the University of Pennsylvania were made during the Trusts taxable year in the amount of $9,441,211.78. Pt IV Sec D Ln 3 The University of Pennsylvania 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 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 November 4, 2010) as a non-functionally integrated Type III supporting organization in accordance with Section 509(a)(3) of the Code. 121151952 9441212 9441212 23659 121128293 121176018 9406065 9406065 24066 121151952 121187871 9095674 9095674 11853 121176018 121199461 8507152 8507152 11590 121187871 121210962 9620834 9620834 11501 121199461 false false Penn AIF Fund - Cost Basis 122970450 122970450 Pt V, Line 4 To support the Annenberg School of the University of Pennsylvania true University of PA 3451 Walnut Street Philadelphia PA 19104 231352685 501(c)(3) 9441212 0 N/A N/A Supported Org 1 0 John R Latourette Trustee 23659 See Attached Statement false Part IV, Line 1 Interested person is a partner in a law firm that rendrs legal services to the organization and is paid legal fees for services rendered. Dilworth received payments for legal fees and costs equal to $23,659.42. 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 and comment 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 on 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 contemporanously documented through minutes of the meeting of the trustees at which such decision was made. The organization does not have any 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 Pennsylvania 3451 Walnut Street Philadelphia PA 19104 231352685 Education PA 501c3 2 na false true true false false false false false false false false false false false false false false false false false University of Pennsylvania a 9441212 Investment Contract University of Pennsylvania b 9441212 Determination Of Trustees