Verizon Foundation
PO Box 627, Basking Ridge, NJ · IRS data through FY2023
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2023 | $7,525,643 | $7,420,270 | $24,362,235 |
| FY2022 | $6,748,199 | $5,248,367 | $24,240,665 |
| FY2021 | $21,584,016 | $18,137,185 | $22,729,438 |
| FY2020 | $57,335,619 | $53,304,043 | $19,220,780 |
| FY2019 | $7,229,272 | $25,347,184 | $15,241,971 |
| FY2015 | $43,888 | $34,461,546 | $4,899,301 |
| FY2014 | $72,442 | $34,100,487 | $39,316,960 |
| FY2013 | $44,538,684 | $50,785,654 | $73,351,099 |
| FY2012 | $12,180,544 | $48,258,059 | $88,899,331 |
| FY2011 | $20,272,440 | $51,934,311 | $129,093,498 |
Form 990 filings
The returns filed by Verizon Foundation (EIN 13-3319048), including Form 990-PF PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $6,310,000 | 84% |
| Other revenue | $1,215,643 | 16% |
Grants paid
Total contributions, gifts and grants paid by year, as reported on Form 990-PF. Individual recipients are not published. See private foundations in NJ. See the largest grantmakers.
| Tax year | Grants paid |
|---|---|
| FY2023 | $7,276,854 |
| FY2022 | $5,116,877 |
| FY2021 | $17,929,865 |
| FY2020 | $52,274,228 |
| FY2019 | $23,300,355 |
| FY2015 | $31,127,392 |
| FY2014 | $29,477,195 |
| FY2013 | $39,997,211 |
| FY2012 | $36,659,194 |
| FY2011 | $41,901,581 |
What the numbers show
- Contributions & grants made up 84% of total revenue in FY2023.
- Net assets covered about 39.4 months of expenses at the end of the reporting year. That puts it in the 35th percentile among 2219 Philanthropy, Voluntarism & Grantmaking Foundations organizations in NJ.
- Total revenue was higher than 97.8% of 2320 Philanthropy, Voluntarism & Grantmaking Foundations organizations in NJ.
- Total revenue fell from $20,272,440 in FY2011 to $7,525,643 in FY2023. Revenue increased in 4 and decreased in 5 of 9 year-over-year comparisons.
- Expenses exceeded revenue in 6 of 10 reported years (FY2011, FY2012, FY2013, FY2014, FY2015, FY2019).
- The highest revenue on record here is $57,335,619 in FY2020.
- Net assets declined from $129,093,498 to $24,362,235 between FY2011 and FY2023.
- Contributions and grants made up 4% of revenue in FY2011 and 84% in FY2023.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (private foundation).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
IRS status
| Ruling year | 1987 |
| Subsection | 501(c)(3) |
| Classification | Private foundation |
| Program area (NTEE) | T21Z — Philanthropy, Voluntarism & Grantmaking Foundations (in NJ) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (private foundation). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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