Is Verizon Foundation Legit?

The Verizon Foundation demonstrates a consistent commitment to its programmatic mission, as evidenced by its spending patterns. In the latest filing period (202312), the organization reported expenses of $7,420,270 against revenues of $7,525,643, indicating a balanced operational year. Over the past decade, the foundation has managed significant fluctuations in revenue and expenses, often disbursing substantial amounts in grants, as seen in periods like 2011-2015 where expenses significantly outstripped revenue, drawing down assets. This suggests a strategic use of its endowment to fulfill its mission. The foundation's assets have generally stabilized in recent years, standing at $25,968,957 in 2023, providing a solid financial base for future activities. The consistent reporting of 0% officer compensation across all available filings highlights a strong commitment to directing funds towards its charitable purposes rather than executive salaries, enhancing its transparency and public trust.