Dr Leon Bromberg Charitable Trust

Nonprofit profile at a glance

EIN
760193007
IRS 990-PF coverage
2015–2024
Forms available
Form 990-PF 2024
Location
Galveston, TX, USA
Phone
4097625890
Rating
86
Verdict
STRONG
Rating confidence
Standard

Reported finances

Revenue
$211,873
Expenses
$648,612

Source: IRS Form 990-PF. Selected filing: tax year 2024. Amounts in USD.

Overview

Mission

Dr Leon Bromberg Charitable Trust is a nonprofit. Location: Galveston, TX. EIN 760193007. Tax year 2024 Form 990-PF reports $212K revenue and $649K expenses.

What it reported funding in 2024

The foundation reported 59 grants totaling $392,000. The stated grant purposes included grant for repairs for kitchen area, sponsorship for annual alzheimers walk occuring in galveston, and grant for disaster preparedness services, plus 54 other reported purposes.

Operating model

Revenue model
Investment-supported. 100% of the foundation's positive operating resources came from recurring investment income.
Distribution model
Grant intermediary. The foundation distributed 86% of its reported charitable disbursements as grants.
  • Includes asset-sale income: Asset-sale income is shown separately from recurring resources when classifying the revenue model.

The verdict

STRONG - A large share of available resources goes to charitable grants and the filed numbers largely add up. No material rating questions were generated from the available inputs.

Rating breakdown

  • Grant Deployment: 90
  • Cost Efficiency: 60
  • Transparency: 100
  • Compliance: 100
  • Endowment Health: 69

Detailed rating inputs

Grant Deployment

  • Grant deployment ratio: 89.9%; rating input score 90; 30th percentile among comparable filings

Cost Efficiency

  • Grant expense ratio: 60.4%; rating input score 60; 17th percentile among comparable filings

Transparency

  • Grant recipient disclosure: Yes; rating input score 100

Compliance

  • Part VII-B activity disclosures: 19 of 19 controls in place; rating input score 100
    • Property sale or exchange with a disqualified person: Pass
    • Borrowing from or lending to a disqualified person: Pass
    • Goods, services, or facilities involving a disqualified person: Pass
    • Compensation paid to a disqualified person: Pass
    • Assets transferred to a disqualified person: Pass
    • Payment to a government official: Pass
    • Uncorrected prior self-dealing: Pass
    • Prior-year undistributed income: Pass
    • Excess business holdings: Pass
    • Investments that may jeopardize charitable purposes: Pass
    • Uncorrected prior-year jeopardizing investments: Pass
    • Attempt to influence legislation: Pass
    • Attempt to influence an election: Pass
    • Grants to individuals: Pass
    • Grants to organizations: Pass
    • Spending for a noncharitable purpose: Pass
    • Funds received for a personal-benefit contract: Pass
    • Premiums paid on a personal-benefit contract: Pass
    • Prohibited tax-shelter transaction: Pass
  • Filing consistency checks: 10; rating input score 100

Endowment Health

  • Endowment-health comparison: 20.6; rating input score 69; 69th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Grants: 100% of grant recipient detail disclosed
  • Payout: 89.9% grant deployment rate
  • Trustees: Filed trustees detail
  • Self-dealing: 100% of reviewed questions answered “No”
  • Investments: 69th percentile for endowment coverage
  • Consistency: 10 of 10 current checks pass
  • Filing history: 9 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 61 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.