Genesis Harbor of Opportunities Promoting Excellent

Analysis

Genesis Harbor of Opportunities Promoting Excellent is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 January 2023, Genesis Harbor of Opportunities Promoting Excellent reported income of $771k and spending of $416k, leaving 46% of income unspent that year. Across the 4 years on record, from January 2020 to January 2023, income grew from $297k to $771k (+160%), an average of +37% a year. The sharpest change came in the year to January 2023, when income rose by 63%. Over the whole period it spent 78% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Genesis Harbor of Opportunities Promoting Excellent sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Idaho Falls Conference of the Society of St Vincent de Paul ($770k), Harbor House Ministries Inc ($771k) and Downtown State College Improvement District Inc ($770k).

On its Form 990 for the period ending January 2023, revenue came from contributions and grants 97% and program service revenue 2.7% of the total. Other salaries and wages came to $116k. At year end it held assets of $737k against liabilities of $98k, net assets of $639k. It reported 7 employees.