Is Bloomberg Foundation Legit?

Red Flags

Significant and consistent decline in assets from $716,417 in 2013 to $88,847 in 2023.
Periods of negative revenue (e.g., $-76,693 in 2020, $-55,142 in 2019) indicating unsustainable financial performance.
Unusual and consistent reporting of $1 in liabilities across multiple recent filings.
Expenses frequently exceeding revenue by large margins in earlier years (e.g., 2019 expenses $283,913 vs. revenue $-55,142).

Spending Breakdown

How Bloomberg Foundation allocates its funds across programs, administration, and fundraising.

70%

Program Spending

Below average — room for improvement

20%

Admin Costs

Reasonable — admin costs in check

10%

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 Bloomberg Foundation

Is Bloomberg Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Bloomberg Foundation (EIN: 136272482) shows mixed signals. Mission Score: 55/100. 4 red flags identified, 2 strengths noted.

Is Bloomberg Foundation a good charity to donate to?

Bloomberg Foundation has a Mission Score of 55/100. Revenue: $256K. Assets: $184K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Bloomberg Foundation?

The Employer Identification Number (EIN) for Bloomberg Foundation is 136272482. 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 Bloomberg Foundation spend its money?

Bloomberg Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Bloomberg Foundation's tax-exempt status?

You can verify Bloomberg Foundation's tax-exempt status using EIN 136272482 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

The Bloomberg Foundation exhibits inconsistent financial performance over the past decade, with significant fluctuations in revenue and expenses. While the organization reported positive revenue in its latest filing ($63,996 in 2023), it experienced negative revenue in 2020 and 2019, indicating reliance on asset drawdowns or significant investment losses in those periods. The foundation's assets have also seen a substantial decline from a high of $716,417 in 2013 to $88,847 in 2023, suggesting a shrinking financial base. The consistent reporting of $1 in liabilities across recent filings is unusual and may warrant further investigation into the nature of its financial structure or reporting practices.

Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the ratio of expenses to revenue has varied wildly, from expenses significantly exceeding revenue in multiple years (e.g., 2019 expenses of $283,913 against negative revenue of $-55,142) to more balanced figures in recent years (e.g., 2023 expenses of $12,445 against revenue of $63,996). The lack of officer compensation reported across all filings suggests either a volunteer-run organization or compensation being reported under other expense categories, which could impact transparency.

Transparency is generally good in terms of filing history, with 10 filings available. However, the consistent $1 liability figure and the absence of officer compensation, combined with the significant asset decline, raise questions about the full picture of financial operations. A more detailed breakdown of expenses would greatly enhance the ability to evaluate program efficiency and overall financial health.

Verdict: Bloomberg Foundation shows mixed signals