Genesis Health Development Inc

Analysis

Genesis Health Development Inc is a registered charity in United States, based in Jacksonville, FL. It received its IRS tax-exemption ruling in May 1983, 43 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Genesis Health Development Inc reported income of $41.4m and spending of $42.4m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $34.5m to $41.4m (+20%), an average of +4.7% a year. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Genesis Health Development Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Alpha Project for the Homeless ($41.4m), Rush Health Systems Inc ($41.4m) and Lyngblomsten Care Center Inc ($41.4m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 93% of the total. Compensation of current officers, directors and key employees was $48k (0.1% of expenses). Other salaries and wages came to $27.5m. At year end it held assets of $33.4m against liabilities of $33.1m, net assets of $270k. It reported 521 employees.