Genesis Hopeful Haven Inc

Analysis

Genesis Hopeful Haven Inc is a registered charity in United States, based in Cutler Bay, FL. It received its IRS tax-exemption ruling in December 2014, 12 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 October 2023, Genesis Hopeful Haven Inc reported income of $1.2m and spending of $1.3m, spending 109% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income grew from $208k to $1.2m (+479%), an average of +55% a year. The sharpest change came in the year to October 2020, when income rose by 95%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Genesis Hopeful Haven Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within FL. Charities of a similar size with the same main cause include Cielo Project Radio Ranch ($1.2m), Servants Heart International Ministry Inc ($1.2m) and Reclaimed Project ($1.2m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 75% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $121k (9.2% of expenses). Other salaries and wages came to $268k. At year end it held assets of $189k against liabilities of $188k, net assets of $952. It reported 11 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.