Genesis Residential

Analysis

Genesis Residential is a registered charity in United States, based in Gadsden, AL. It received its IRS tax-exemption ruling in August 2014, 12 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 September 2023, Genesis Residential reported income of $2.0m and spending of $1.9m, spending 99% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.6m to $2.0m (+21%), an average of +4.8% a year. The sharpest change came in the year to September 2020, when income rose by 16%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Genesis Residential sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 89th percentile within AL. Charities of a similar size with the same main cause include Presbyterian Towers Inc ($2.0m), Church Street Corporation ($2.0m) and Habitat for Humanity International Inc ($2.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. Other salaries and wages came to $924k. At year end it held assets of $1.2m against liabilities of $99k, net assets of $1.1m. It reported 70 employees.