Bright Funds Foundation

Analysis

Bright Funds Foundation is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in September 2014, 12 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bright Funds Foundation reported income of $85.7m and spending of $83.9m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $40.8m to $85.7m (+110%), an average of +20% a year. The sharpest change came in the year to December 2020, when income rose by 72%. Over the whole period it spent 96% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Bright Funds Foundation sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Community Foundation for Monterey County ($85.2m), Mightycause Charitable Foundation ($86.3m) and Loma Linda - Inland Empire Consortium for Healthcare Educatio ($85.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $21.3m against liabilities of $6.6m, net assets of $14.6m.