Quick charity verification for Bloom Foundation (EIN: 207539169)
Verdict: Bloom Foundation appears trustworthy
88/100Mission Score
$810KRevenue
$1.5MAssets
1Red Flags
5Strengths
Red Flags
Revenue fluctuations, with a negative revenue reported in 2011 (-$157,881), warrant further investigation into the nature of that specific financial period.
Strengths
Consistent growth in assets over the past decade, from $1,220,383 in 2011 to $1,557,281 in 2023.
Extremely low liabilities, often reported as $1, indicating strong financial health and minimal debt.
0% officer compensation reported across all filings, suggesting efficient use of funds for its mission.
Consistent IRS 990 filing history, demonstrating good transparency and compliance.
Positive net assets, consistently exceeding $1 million, providing a strong financial cushion.
Spending Breakdown
How Bloom Foundation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Bloom Foundation
Is Bloom Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Bloom Foundation (EIN: 207539169) appears trustworthy. Mission Score: 88/100. 1 red flag identified, 5 strengths noted.
Is Bloom Foundation a good charity to donate to?
Bloom Foundation has a Mission Score of 88/100. Revenue: $810K. Assets: $1.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Bloom Foundation?
The Employer Identification Number (EIN) for Bloom Foundation is 207539169. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Bloom Foundation spend its money?
Bloom Foundation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Bloom Foundation's tax-exempt status?
You can verify Bloom Foundation's tax-exempt status using EIN 207539169 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Bloom Foundation demonstrates consistent financial stability with assets steadily growing over the past decade, reaching $1,557,281 in 2023. The organization's revenue has fluctuated, with a notable peak of $300,746 in 2022, but generally covers its expenses. For instance, in 2023, expenses were $173,525 against revenues of $160,634, indicating a slight deficit for that year, though this is offset by prior surpluses and substantial assets. The foundation's liabilities have remained remarkably low, often reported as $1, suggesting a strong balance sheet and minimal debt burden.
Spending efficiency appears to be a strong point, as the organization consistently reports 0% officer compensation, indicating that leadership is either unpaid or compensated through other means not classified as officer compensation on the 990. This suggests a high proportion of funds are available for programmatic activities. While specific program spending percentages are not detailed in the provided data, the absence of executive compensation is a positive indicator for resource allocation.
Transparency is high given the consistent filing of IRS Form 990s over a long period. The consistent reporting of minimal liabilities and zero officer compensation enhances trust. However, without a detailed breakdown of functional expenses (program, administrative, fundraising), a complete assessment of spending efficiency is limited. The NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations) suggests its primary activity is grantmaking, which typically has lower direct program costs compared to direct service charities.