Genesis Lifecare Corp

Analysis

Genesis Lifecare Corp is a registered charity in United States, based in Longmeadow, MA. It received its IRS tax-exemption ruling in July 2016, 10 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 (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 Lifecare Corp reported income of $1.8m and spending of $1.7m, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.8m (+24%), an average of +5.6% a year. Over the whole period it spent 101% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Genesis Lifecare Corp sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Tri-Counties Community Housing Corporation ($1.8m), Tcs-1 ($1.8m) and Neighborhood Housing Finance Corporation ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $4.5m against liabilities of $8.3m, net assets of -$3.8m.