Bloomberg Family Foundation Inc
- Assets
- $11.5b
- Revenue
- $1.7b
- Investments
- $11.3b
- Employees
- 0
- Location
- New York, NY
- Founding
- 06/2008
- Data as of
- 12/2022
- EIN
- 20-5602483
Organization Overview
Bloomberg Family Foundation Inc is located in New York, NY. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bloomberg Family Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Bloomberg Family Foundation Inc generated $1.7b in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.3% each year . All expenses for the organization totaled $1.3b during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Bloomberg Family Foundation Inc has awarded 1,070 individual grants totaling $3,151,773,885. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
PROVIDING TECHNICAL ASSISTANCE AND ADVISORY SERVICES TO ASSIST OTHER CHARITIES IN CARRYING OUT THEIR EXEMPT PURPOSES.
ENGAGING SPECIALISTS WITH SUBJECT-MATTER EXPERTISE (I.E. TOBACCO, CLIMATE, ETC.) TO ASSIST THE FOUNDATION AND OTHER CHARITY PARTNERS WITH PROGRAMMATIC PROJECTS (E.G., DATA COLLECTION, REPORT PRODUCTION, ETC.).
PROVIDING TECHNICAL ASSISTANCE AND ADVISORY SERVICES, AND ENGAGING SPECIALISTS WITH PUBLIC SERVICE EXPERTISE, TO ASSIST MUNICIPALITIES AND GOVERNMENTS IN CARRYING OUT THEIR PUBLIC EXEMPT PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alfred Sommer Director | 0.58 | $11,700 | |
Anne Tatlock Director | 0.58 | $11,700 | |
D Ronald Daniel Director | 0.44 | $11,700 | |
Daniel L Doctoroff Director | 0.58 | $11,700 | |
Dennis M Walcott Director | 0.58 | $11,700 | |
Emma Bloomberg Director | 0.58 | $11,700 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Manhattan West Llc | 12/30/22 | $230,014,094 |
Delivery Associates Ltd | 12/30/22 | $13,748,036 |
Kobre & Kim Llp | 12/30/22 | $4,771,464 |
Boston Consulting Group Inc | 12/30/22 | $2,691,390 |
Arts Manager Llc | 12/30/22 | $1,864,082 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,343,062,957 |
| Interest on Savings | $2,979 |
| Dividends & Interest | $1,685,385 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $161,105,285 |
| Capital Gain Net Income | $121,512,705 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $215,542,441 |
| Total Revenue | $1,721,399,047 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $245,700 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $23,197,473 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $16,543 |
| Printing and publications | $0 |
| Other expenses | $1,754,547 |
| Total operating and administrative expenses | $295,912,931 |
| Contributions, gifts, grants paid | $977,319,604 |
| Total expenses and disbursements | $1,273,232,535 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $250,902,544 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $11,278,819,002 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $11,529,721,546 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $2,734,400 |
| Total liabilities | $2,734,400 |
Grants Awarded
Over the last fiscal year, Bloomberg Family Foundation Inc has awarded $1,216,088,604 in support to 427 organizations.
| Grant Recipient | Amount |
|---|---|
350 ORG PURPOSE: ACCELERATE TRANSITION TO CLEAN ENERGY | $500,000 |
50CAN INC PURPOSE: TO IMPROVE OUTCOMES FOR K-12 STUDENTS IN THE U.S. | $15,108,956 |
ACADEMY FOUNDATION PURPOSE: DIGITAL PROGRAMS | $462,000 |
AFRICAN AMERICAN CULTURAL CENTER PURPOSE: DIGITAL PROGRAMS | $75,000 |
AFRO-LATIN JAZZ ALLIANCE OF NEW YORK INC PURPOSE: DIGITAL PROGRAMS | $175,000 |
ALLIANCE FOR YOUNG ARTISTS & WRITERS INC PURPOSE: DIGITAL PROGRAMS | $175,000 |