Verizon Foundation

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Verizon Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals

Verizon Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Verizon Foundation in one place.

Is Verizon Foundation Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Verizon Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Request a concise report for Verizon Foundation with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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Verizon Foundation directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Verizon Foundation

Verizon Foundation (EIN: 133319048) is a nonprofit organization based in Basking Ridge, NJ, classified under NTEE code T21Z. The organization reported total revenue of $5.1M and total assets of $23.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Verizon Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Verizon Foundation is a mid-size nonprofit that has been operating for 39 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.9%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: A

In 2023, Verizon Foundation reported a surplus of $105K with revenue exceeding expenses, holds 42.0 months of operating reserves (strong position), has a debt-to-asset ratio of 6.2% (very low leverage).

Financial Trends

Over 10 years of filings (2011–2023), Verizon Foundation's revenue has declined at a compound annual growth rate (CAGR) of -7.9%.

IRS Tax-Exempt Classification

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 Verizon Foundation with a Mission Score of 95 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: 0%
• programs: 100%
• fundraising: 0%

According to IRS 990 filings, Verizon Foundation allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 surplus of $105K, with revenue exceeding expenses.
• Debt-to-asset ratio: 6.2%.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that no officer salaries are paid from the foundation's funds, which is highly commendable for an organization of its size with assets over $25 million.

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.

Strengths

The following positive indicators were identified for Verizon Foundation:

• Consistent 0% officer compensation, indicating strong financial stewardship.
• High program spending efficiency, with virtually all functional expenses directed to programs.
• Significant asset base ($25,968,957 in 2023) providing long-term stability.
• History of substantial grantmaking, even when drawing down assets, demonstrating commitment to mission.
• Transparent financial reporting with 10 years of available IRS 990 filings.

Frequently Asked Questions about Verizon Foundation

Filing History

IRS 990 filing history for Verizon Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Verizon Foundation's revenue has declined by 62.9%, moving from $20.3M to $7.5M. Total assets decreased by 82% over the same period, from $144.5M to $26.0M. Total functional expenses fell by 85.7%, from $51.9M to $7.4M. In its most recent filing year (2023), Verizon Foundation reported a surplus of $105K, with revenue exceeding expenses. The organization holds $1.6M in liabilities against $26.0M in assets (debt-to-asset ratio: 6.2%), resulting in net assets of $24.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $7.5M, expenses of $7.4M, and assets of $26.0M (revenue +11.5% year-over-year).
• 2022: Revenue of $6.7M, expenses of $5.2M, and assets of $26.8M (revenue -68.7% year-over-year).
• 2021: Revenue of $21.6M, expenses of $18.1M, and assets of $26.4M (revenue -62.4% year-over-year).
• 2020: Revenue of $57.3M, expenses of $53.3M, and assets of $22.4M (revenue +693.1% year-over-year).
• 2019: Revenue of $7.2M, expenses of $25.3M, and assets of $19.4M (revenue +16372.1% year-over-year).
• 2015: Revenue of $44K, expenses of $34.5M, and assets of $9.1M (revenue -39.4% year-over-year).
• 2014: Revenue of $72K, expenses of $34.1M, and assets of $45.2M (revenue -99.8% year-over-year).
• 2013: Revenue of $44.5M, expenses of $50.8M, and assets of $82.2M (revenue +265.7% year-over-year).
• 2012: Revenue of $12.2M, expenses of $48.3M, and assets of $98.1M (revenue -39.9% year-over-year).
• 2011: Revenue of $20.3M, expenses of $51.9M, and assets of $144.5M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Verizon Foundation:

Data Sources and Methodology

This transparency report for Verizon 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.