The Associated Students of the University of California (ASUC) is the official student association that controls funding for student groups and organizes on-campus student events. It is considered the most autonomous student government at any university in the U.S. due to its independent funding model, level of university involvement and resources. The two main political parties are "Student Action" and "CalSERVE." The organization was founded in 1887 and has an annual operating budget of $1.7 million (excluding the budget of the Graduate Assembly of the ASUC), in addition to various investment assets. Its alumni include multiple State Senators, Assemblymembers, and White House Administration officials.