Genesis Homes Inc

Analysis

Genesis Homes Inc is a registered charity in United States, based in Greenville, SC. It received its IRS tax-exemption ruling in January 2007, 19 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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 Homes Inc reported income of $839k and spending of $778k, spending 93% of its income. Across the 6 years on record, from December 2018 to December 2023, income fell from $1.2m to $839k (-32%), an average of -7.5% a year. The sharpest change came in the year to December 2019, when income dropped by 35%. Over the whole period it spent 73% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Genesis Homes Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 81st percentile within SC. Charities of a similar size with the same main cause include San Antonio Alternative Housing Corporation No 20 ($839k), B T Inc ($840k) and Pomfret Community Housing Corporation ($839k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.8% and program service revenue 96% of the total. Compensation of current officers, directors and key employees was $48k (6.2% of expenses). Other salaries and wages came to $41k. At year end it held assets of $14.1m against liabilities of $11.3m, net assets of $2.8m. It reported 3 employees.