Geneseo Foundation Inc

Analysis

Geneseo Foundation Inc is a registered charity in United States, based in Geneseo, NY. It received its IRS tax-exemption ruling in July 1971, 55 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Geneseo Foundation Inc reported income of $3.4m and spending of $4.4m, spending 130% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.8m to $3.4m (-9.3%), an average of -2.4% a year. The sharpest change came in the year to June 2021, when income rose by 95%. Over the whole period it spent 110% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Geneseo Foundation Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include University of Maryland Alumni Association Inc ($3.4m), Academy Prep Center of Lakeland Inc ($3.4m) and Forest Ridge Academy Inc ($3.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 12% of the total. Other salaries and wages came to $45k. It paid $45k in professional fundraising fees. At year end it held assets of $47.1m against liabilities of $365k, net assets of $46.7m. It reported 3 employees.