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Bloomberg Philanthropies

Profile

Last Updated: 2016-04-08

At A Glance

Bloomberg Philanthropies

(formerly The Bloomberg Family Foundation, Inc.)

909 3rd Ave., 16th Fl.

New York City, NY United States 10022-4797

URL: www.bloomberg.org

Type of Grantmaker

Independent foundation

Additional Descriptor

  • Celebrity: Business; Entertainment; Politics

Financial Data

(yr. ended 2014-12-31)

Assets: $6,550,282,874

Total giving: $148,656,213

EIN

205602483

BRIDGE Number

6998106501

Background

Established in 2006 - Founded by Michael R. "Mike" Bloomberg, a former Mayor of New York City, in order to concentrate on areas of particular interest, such as public health and medical research. He is the founder and 88 percent owner of Bloomberg L.P., a financial software services company. He is listed as the 7th-richest person in America on the 2013 Forbes List of The Richest People In America. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg's charitable activities, including his foundation and his personal giving Michael R. Bloomberg has committed to The Giving Pledge, and has pledged to give away at least half of his wealth to philanthropy.

Purpose and Activities

The mission is to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: public health, environment, education, government innovation and the arts.

Program Area(s)

The grantmaker has identified the following area(s) of interest:

Arts

The program is helping arts and cultural organizations learn vital strategies to better manage their operations and to access new funding sources through: 1) Arts Advancement Initiative: provides unrestricted operating support and a rigorous management training program to 245 arts and cultural organizations across all five boroughs of New York City; 2) Art Place: a nationwide public-private partnership to drive revitalization in cities by putting arts at the center of community development; 3) Bloomberg Connects Initiative: $83 million has been committed to support the development of technology that transforms the visitor experience at several cultural institutions around the world including the Art Institute of Chicago, the Jewish Museum, the Metropolitan Museum of Art, the Museum of Modern Art, Singapore’s Gardens by the Bay, the Tate Modern as well as the Metropolitan Opera, the New York Botanical Garden, the Solomon R. Guggenheim Museum, the American Museum of Natural History, the Brooklyn Museum, the Cooper Hewitt Smithsonian Design Museum, San Francisco Museum of Modern Art and the Science Museum of London.

Education

The program aims to improve education in America and to strengthen educational leadership through: 1) Education Policy: working to strengthen America’s educational system by supporting effective policies aimed at improving student outcomes; 2) Education Leadership: Bloomberg Philanthropies has partnered with America Achieves to establish a series of fellowship programs for educational leaders at all levels to convene, collaborate, and share best practices for advancing student achievement.

Environment

The program focuses on spurring change through: 1) C40 Cities Climate Leadership Group: a network of nearly 70 of the world’s largest cities taking action to address climate change by developing and implementing policies and programs that generate measurable reductions in greenhouse gas emissions and climate risks; 2) Beyond Coal: in conjunction with the Sierra Club, the campaign is an effort to effectively end America’s energy dependence on coal. The goal is to shut down one-third of the nation's aging coal plants by 2020 and move America toward cleaner, alternative energy sources; 3) Vibrant Oceans: working in key areas around the world to restore fish populations and help meet the dietary needs of a growing global population.

Founder's Projects

In addition to the five main focus areas, Bloomberg Philanthropies takes on additional, unique projects that work to change people's lives for the better, and for which Mike Bloomberg has a special passion. Two examples are: 1) Johns Hopkins Hospital building featuring the Charlotte R. Bloomberg Children's Center; and 2) support for partners on the ground in Africa committed to the advancement of women and their families in post-conflict regions, by investing in educational and vocational training, job creation, and expansion of market access.

Government Innovation

The program equips mayors and local leaders with practical tools and approaches to solve major challenges and enable public sector innovation to flourish through: 1) Cities of Service: working with mayors and elected officials to identify specific challenges within a city’s priority areas, ensuring that local volunteering efforts target real community needs; 2) Young Men's Initiative: a comprehensive effort to tackle the broad disparities slowing the advancement of black and Latino young men. It is backed by a powerful partnership between Bloomberg Philanthropies, the City of New York, and the Open Society Foundations; 3) Financial Empowering Centers: a model that offers a new way for mayors and local governments to increase the quality and consistency of local financial services to help residents increase assets and free themselves from consumer debt; 4) Mayors Challenge: a competition for cities that aim to find and elevate next-generation solutions that are both innovative and transferable. The Mayors Challenge began in the U.S. and moved to Europe for the second installment; 5) Innovation Delivery Teams: currently being piloted in Atlanta, Chicago, Louisville, Memphis, and New Orleans, the program helps mayors craft, implement, and build support for innovation solutions in the areas that matter most.

Program-Related Investment

The foundation has made a program-related investment in the form of a loan to social business to provide clean and affordable energy to homes, schools and local business in Sub-Saharan Africa.

Public Health

The program aims to combat widespread health hazards by spreading proven solutions to protect more people and save more lives through four public health initiatives:1) Maternal Health: working in remote rural areas of Tanzania to give women access to the care they need by training non-physician clinicians to perform life-saving surgery and by building operating rooms in health care centers; 2) Global Road Safety: focusing on implementing key interventions that have been proven to reduce road traffic deaths and injuries in order to protect millions of lives and keep the world’s roads safe; 3) Obesity Prevention: addressing the obesity global epidemic by raising public awareness of the problem and supporting policies to prevent the rise of obesity in Mexico, which currently has the highest rate of obesity among the world’s most populous countries; 4) Reduce Tobacco Use: working to implement proven tobacco control policies around the world.

Fields of Interest

Subjects
  • Arts and culture
  • Education
  • Environment
  • Health
  • Philanthropy
  • Preventive care
  • Public health
International Interests
  • India
  • Switzerland
Population Groups
  • Children and youth
  • Economically disadvantaged people
  • Females
  • Low-income and poor people
  • People of African descent

Financial Data

Year ended 2014-12-31

Assets: $6,550,282,874 (market value)

Gifts received: $654,420,052

Expenditures: $279,404,935

Total giving: $148,656,213

Qualifying distributions: N/A

Giving activities include:

$148,656,213 for grants

$1,500,000 for 1 loan/program-related investment