New Genesis Inc

Analysis

New Genesis Inc is a registered charity in United States, based in Kalamazoo, MI. It received its IRS tax-exemption ruling in June 1983, 43 years ago. The IRS classifies it as a church under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Genesis Inc reported income of $1.1m and spending of $1.1m, spending 99% of its income. Across the 5 years on record, from September 2019 to June 2023, income grew from $779k to $1.1m (+44%), an average of +9.5% a year. The sharpest change came in the year to June 2022, when income rose by 202%. Over the whole period it spent 86% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New Genesis Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within MI. Charities of a similar size with the same main cause include Baptist Women in Ministry Inc ($1.1m), Atlanta Resource Foundation Inc ($1.1m) and Mercer Island Schools Foundation ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 87% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $69k (6.2% of expenses). Other salaries and wages came to $538k. At year end it held assets of $1.1m against liabilities of $238k, net assets of $900k. It reported 44 employees.