Genesis Non-Profit Housing Corporation

Analysis

Genesis Non-Profit Housing Corporation is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in June 1998, 28 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 Non-Profit Housing Corporation reported income of $970k and spending of $2.1m, spending 213% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.8m to $970k (-46%), an average of -14% a year. The sharpest change came in the year to December 2022, when income dropped by 40%. Over the whole period it spent 147% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Genesis Non-Profit Housing Corporation sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MI. Charities of a similar size with the same main cause include Habitat for Humanity International Inc ($970k), Generations Housing Initiatives ($971k) and Moving Up Collaborative ($970k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.6% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $116k (5.6% of expenses). Other salaries and wages came to $636k. At year end it held assets of $7.9m against liabilities of $811k, net assets of $7.1m. It reported 24 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.