Genesis House of Olean Inc

Analysis

Genesis House of Olean Inc is a registered charity in United States, based in Olean, NY. It received its IRS tax-exemption ruling in March 1995, 31 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Genesis House of Olean Inc reported income of $686k and spending of $397k, leaving 42% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $221k to $686k (+211%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 113%. Over the whole period it spent 76% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Genesis House of Olean Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 71st percentile within NY. Charities of a similar size with the same main cause include Four Winds Community ($686k), Operation Spring Plant ($687k) and Health in the Hood Inc ($686k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $22k (5.6% of expenses). Other salaries and wages came to $179k. At year end it held assets of $1.0m against liabilities of $22k, net assets of $1.0m. It reported 16 employees.