Verizon Foundation
Verizon Foundation consistently directs 100% of reported officer compensation to programs, maintaining stable assets.
EIN: 133319048 · Basking Ridge, NJ · NTEE: T21Z · Updated: 2026-03-28
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 →
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.
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.
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
Is Verizon Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Verizon Foundation (EIN: 133319048) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Verizon Foundation spend its money?
Verizon Foundation directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Verizon Foundation tax-deductible?
Verizon Foundation is registered as a tax-exempt nonprofit (EIN: 133319048). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Verizon Foundation a good charity?
Based on the provided data, Verizon Foundation appears to be a very good charity. It consistently reports 0% officer compensation, indicating that all funds are directed towards its mission. Its program spending is effectively 100% of its functional expenses, demonstrating high efficiency.
How does Verizon Foundation manage its assets?
The foundation's assets have fluctuated significantly over the years, from a high of $144,451,318 in 2011 to a low of $9,071,029 in 2015, and are currently at $25,968,957 (2023). This suggests a strategy of drawing down assets to fund programs in certain periods, indicating active management to fulfill its mission rather than solely accumulating wealth.
What is the trend in Verizon Foundation's revenue?
Verizon Foundation's revenue has been highly variable, with peaks such as $57,335,619 in 2020 and $44,538,684 in 2013, and lows like $43,888 in 2015. This variability is common for corporate foundations that receive funding based on corporate performance or specific initiatives.
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 | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $7.5M | $7.4M | $26.0M | $1.6M | — | — |
| 2022 | $6.7M | $5.2M | $26.8M | $2.5M | — | View 990 |
| 2021 | $21.6M | $18.1M | $26.4M | $3.7M | — | View 990 |
| 2020 | $57.3M | $53.3M | $22.4M | $3.2M | — | View 990 |
| 2019 | $7.2M | $25.3M | $19.4M | $4.1M | — | View 990 |
| 2015 | $44K | $34.5M | $9.1M | $4.2M | — | View 990 |
| 2014 | $72K | $34.1M | $45.2M | $5.9M | — | View 990 |
| 2013 | $44.5M | $50.8M | $82.2M | $8.9M | — | View 990 |
| 2012 | $12.2M | $48.3M | $98.1M | $9.2M | — | View 990 |
| 2011 | $20.3M | $51.9M | $144.5M | $15.4M | — | View 990 |
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.
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.