Bloom Foundation
Bloom Foundation maintains strong asset base with minimal liabilities and no reported officer compensation.
EIN: 207539169 · Potomac, MD · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $810K |
| Total Expenses | $174K |
| Program Spending | 85% |
| Net Assets | $1.6M |
| Transparency Score | 88/100 |
Is Bloom Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bloom Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bloom Foundation
Bloom Foundation (EIN: 207539169) is a nonprofit organization based in Potomac, MD, classified under NTEE code T20. The organization reported total revenue of $810K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bloom Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bloom Foundation is a small nonprofit that has been operating for 17 years, with 10 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $161K |
| Total Expenses | $174K |
| Surplus / Deficit | $-12,891 |
| Total Assets | $1.6M |
| Total Liabilities | $1 |
| Net Assets | $1.6M |
| Operating Margin | -8.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 107.7 months |
Financial Health Grade: B
In 2023, Bloom Foundation reported a deficit of $13K with expenses exceeding revenue, holds 107.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -46.6% | -0.3% | -0.8% |
| 2022 | +59.4% | +26.2% | +8.6% |
| 2021 | +167.9% | +9.4% | +3.6% |
| 2020 | -51.6% | -8.6% | -10.8% |
| 2019 | +21.7% | +21.8% | +11.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Bloom Foundation with a Mission Score of 88 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Bloom Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $13K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Bloom Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through mechanisms not categorized as officer compensation on the 990, which is highly favorable for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Bloom Foundation's IRS 990 filings:
- Revenue fluctuations, with a negative revenue reported in 2011 (-$157,881), warrant further investigation into the nature of that specific financial period.
Strengths
The following positive indicators were identified for Bloom Foundation:
- 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.
Frequently Asked Questions about Bloom Foundation
Is Bloom Foundation a legitimate charity?
Bloom Foundation (EIN: 207539169) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 88/100. It has 10 years of IRS 990 filings on record. Total revenue: $810K. 1 red flag identified. 5 strengths noted. Financial health grade: B.
How does Bloom Foundation spend its money?
Bloom Foundation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bloom Foundation tax-deductible?
Bloom Foundation is registered as a tax-exempt nonprofit (EIN: 207539169). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bloom Foundation's spending goes to programs?
Bloom Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Bloom Foundation compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Bloom Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Bloom Foundation located?
Bloom Foundation is headquartered in Potomac, Maryland and files with the IRS under EIN 207539169. It is classified under NTEE code T20.
How many years of IRS 990 filings does Bloom Foundation have?
Bloom Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $810K in total revenue.
How does Bloom Foundation manage to have 0% officer compensation?
The IRS 990 filings consistently show 0% officer compensation, suggesting that the organization's leadership may be entirely volunteer-based or compensated through non-officer roles, which is a positive indicator for resource allocation.
What is the primary use of Bloom Foundation's assets?
Given its NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations) and substantial assets ($1,557,281 in 2023), it is highly probable that Bloom Foundation primarily uses its assets to generate investment income to fund grants or other philanthropic activities.
Has Bloom Foundation experienced significant financial instability?
No, despite fluctuations in annual revenue, Bloom Foundation has maintained a strong and growing asset base, from $1,220,383 in 2011 to $1,557,281 in 2023, and consistently low liabilities, indicating financial stability.
Filing History
IRS 990 filing history for Bloom Foundation showing financial trends over 10 years of public records:
Total assets increased by 27.6% over the same period, from $1.2M to $1.6M. Total functional expenses rose by 67%, from $104K to $174K. In its most recent filing year (2023), Bloom Foundation reported a deficit of $13K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $161K | $174K | $1.6M | $1 | — | — |
| 2022 | $301K | $174K | $1.6M | $1 | — | View 990 |
| 2021 | $189K | $138K | $1.4M | $1 | — | View 990 |
| 2020 | $70K | $126K | $1.4M | $1 | — | View 990 |
| 2019 | $146K | $138K | $1.6M | $116K | — | View 990 |
| 2015 | $120K | $113K | $1.4M | $86K | — | View 990 |
| 2014 | $115K | $92K | $1.4M | $75K | — | View 990 |
| 2013 | $138K | $89K | $1.3M | $43K | — | View 990 |
| 2012 | $102K | $77K | $1.3M | $38K | — | View 990 |
| 2011 | $-157,881 | $104K | $1.2M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $161K, expenses of $174K, and assets of $1.6M (revenue -46.6% year-over-year).
- 2022: Revenue of $301K, expenses of $174K, and assets of $1.6M (revenue +59.4% year-over-year).
- 2021: Revenue of $189K, expenses of $138K, and assets of $1.4M (revenue +167.9% year-over-year).
- 2020: Revenue of $70K, expenses of $126K, and assets of $1.4M (revenue -51.6% year-over-year).
- 2019: Revenue of $146K, expenses of $138K, and assets of $1.6M (revenue +21.7% year-over-year).
- 2015: Revenue of $120K, expenses of $113K, and assets of $1.4M (revenue +3.6% year-over-year).
- 2014: Revenue of $115K, expenses of $92K, and assets of $1.4M (revenue -16.1% year-over-year).
- 2013: Revenue of $138K, expenses of $89K, and assets of $1.3M (revenue +35.2% year-over-year).
- 2012: Revenue of $102K, expenses of $77K, and assets of $1.3M.
- 2011: Revenue of $-157,881, expenses of $104K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bloom Foundation:
Data Sources and Methodology
This transparency report for Bloom Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.