Genesis II Apartments Inc

Analysis

Genesis II Apartments Inc is a registered charity in United States, based in West Columbia, SC. It received its IRS tax-exemption ruling in December 2006, 20 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 June 2022, Genesis II Apartments Inc reported income of $97k and spending of $127k, spending 131% of what it took in. Across the 3 years on record, from June 2020 to June 2022, income grew from $91k to $97k (+5.9%), an average of +2.9% a year. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Genesis II Apartments Inc sits at the 22nd percentile: it is larger than about 22% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 41st percentile within SC. Charities of a similar size with the same main cause include Ozark Meadow Apartments Inc ($97k), Echols Place Corporation ($97k) and House a Vet Inc ($97k).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 56% and program service revenue 44% of the total. At year end it held assets of $1.1m against liabilities of $1.5m, net assets of -$405k.

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.