Genunity Inc

Analysis

Genunity Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Genunity Inc reported income of $862k and spending of $612k, leaving 29% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $335k to $862k (+157%), an average of +157% a year. The sharpest change came in the year to June 2023, when income rose by 157%. Over the whole period it spent 76% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Genunity Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MA. Charities of a similar size with the same main cause include Hamilton Community Improvement Corporation ($862k), Computer Technologies Program ($862k) and Elevate Northland ($861k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $380k (62% of expenses). At year end it held assets of $407k against liabilities of $3,585, net assets of $403k. It reported 5 employees.