Genesis 123 Foundation

Analysis

Genesis 123 Foundation is a registered charity in United States, based in Princeton, NJ. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 December 2023, Genesis 123 Foundation reported income of $555k and spending of $436k, leaving 22% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $209k to $555k (+166%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 127%. Over the whole period it spent 96% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Genesis 123 Foundation sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within NJ. Charities of a similar size with the same main cause include Al-Huda Society Inc ($554k), Religious Freedom & Business Foundation ($555k) and Projectcurate ($554k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $178k against liabilities of $20k, net assets of $158k.