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La Jolla’s Helen K. and James S. Copley Foundation still has $3 million left to pay on its $6 million 2008 pledge to the UCLA Foundation, endowing the David C. Copley Chair for the Study of Costume Design and accompanying study center, according to a July IRS filing. Also remaining to be paid is $2.5 million of a $5 million pledge to the Sharp Healthcare Foundation; David Copley, ex-owner of the Union-Tribune, received a 2005 heart transplant at Sharp Memorial Hospital. The Copley foundation was hit by the stock market slide of 2008, posting a net loss on sale of assets of $2,048,988. Including investment losses and gifts made, the book value of the foundation’s total assets slid by nearly $6 million, from $23,888,111 down to $18,082,457. Fair market value was even lower, at $14,573,763.

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Comments

Altius Jan. 20, 2010 @ 5:18 p.m.

COSTUME DESIGN?! HA HA HA HA HA HA HA

I guess we all knew he wasn't a journalist.

0

Beepo Jan. 21, 2010 @ 2:45 a.m.

James is going to have to sell another one of his yachts.

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