Genesis Block Foundation Inc

Analysis

Genesis Block Foundation Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in October 2023, 3 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 December 2023, Genesis Block Foundation Inc reported income of $255k and spending of $274k, spending 108% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income grew from $111k to $255k (+130%), an average of +52% a year. The sharpest change came in the year to December 2023, when income rose by 134%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Genesis Block Foundation Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Christopher Iix Game Changers Inc ($255k), Moriah Deliverance of Ethiopian Children ($255k) and Letters to Santa Charity ($255k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $28k (10% of expenses). At year end it held assets of $0 against liabilities of $0, net assets of $0. It reported 1 employees.