Genesis Academy INC

Tax-deductible

Burnsville, NC501(c)(3)Since 2007EducationEIN 26-0175731

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To operate a pre-school and after-school programs for all residents of the yancey county

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $25K a year · 8% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$321K
-3% vs prior year
Spent
$341K
To programs
100%
Net assets
$316K
By yearFY2020–FY2025
Revenue
$321K
FY2025▼ -3%
Revenue by fiscal year
FY2020$176K
FY2021$274K
FY2022$333K
FY2023$376K
FY2024$331K
FY2025$321K
Expenses
$341K
FY2025▲ +14%
Expenses by fiscal year
FY2020$176K
FY2021$222K
FY2022$294K
FY2023$330K
FY2024$299K
FY2025$341K
Net assets
$316K
FY2025▼ -6%
Net assets by fiscal year
FY2020$167K
FY2021$218K
FY2022$258K
FY2023$304K
FY2024$336K
FY2025$316K

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2009.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $341K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Genesis Academy INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides pre-school and after-school programs for Yancey County residents.

Provided by the organization

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1 program · $341K · in their own filed words · FY2025
01

To provide a safe, structured learning enviroment for children of all races, creeds, and colors while showing children a lifestyle based on jesus' love for them.

$341Kprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$321K
Ln 12
Fees for servicesLn 2g$319K
Gifts and grantsLn 1h$2K
Money outPt IX
$341K
Ln 25
Programscol B$341K
Owns and owesPt X
$316K
net assets · Ln 32
Cash and savingsLn 1–2$176K
Total assetsLn 16$323K
LiabilitiesLn 26$7K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Government grantsLn 1e$2K
Fees for servicesLn 2g$319K
Total revenueLn 12$321K
Assets in detailPt X, end of year
CashLn 1$176K
Cash and savings togetherLn 1–2$176K
Land, buildings, equipmentLn 10c$138K
Total assetsLn 16$323K
LiabilitiesLn 26$7K
Net assetsLn 32$316K
OperationsPt I, VI
EmployeesI 59
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$175K$176K
Land, buildings, equipmentLn 10c$145K$138K
Total assetsLn 16$343K$323K
LiabilitiesLn 26$7K$7K
Net assetsLn 32$336K$316K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$195K$195K
Payroll taxesLn 10$15K$15K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$835$835
OccupancyLn 16$70K$70K
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$39K$39K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$341K$341K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $321K$341K−$20K$316K 990 PDF
FY2024 $331K$299K$32K$336K 990 PDF
FY2023 $376K$330K$46K$304K 990 PDF
FY2022 $333K$294K$39K$258K 990 PDF
FY2021 $274K$222K$52K$218K 990 PDF
FY2020 $176K$176K$207$167K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $320,881 across 4 lines filed
VIII-1e Government grants$2,016
VIII-1h Total contributions, gifts and grants$2,016
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $318,865$318,865
VIII-12 Total revenueRelated to mission $318,865$320,881
Part IX · Statement of functional expenses $340,622 across 9 lines filed
IX-7 Other salaries and wagesPrograms $195,249$195,249
IX-10 Payroll taxesPrograms $15,057$15,057
IX-11c Accounting feesPrograms $2,300$2,300
IX-13 Office expensesPrograms $835$835
IX-16 OccupancyPrograms $69,611$69,611
IX-22 Depreciation, depletion and amortizationPrograms $7,778$7,778
IX-23 InsurancePrograms $4,862$4,862
IX-24 Other expenses (24a–d)Programs $38,919$38,919
IX-24e All other expensesPrograms $6,011$6,011
IX-25 Total functional expensesPrograms $340,622 · Management $0 · Fundraising $0$340,622
Part X · Balance sheet $323,274 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $175,036$176,208
X-4 Accounts receivableStart of year $22,506$9,030
X-10c Land, buildings and equipment, netStart of year $145,063$138,036
X-16 Total assetsStart of year $342,605$323,274
X-17 Accounts payable and accrued expensesStart of year $7,024$7,434
X-26 Total liabilitiesStart of year $7,024$7,434
X-32 Total net assets or fund balancesStart of year $335,581$315,840
X-33 Total liabilities and net assetsStart of year $342,605$323,274
Part XI · Reconciliation of net assets $315,840 net assets at year end
XI-1 Total revenue$320,881
XI-2 Total expenses$340,622
XI-3 Revenue less expenses−$19,741
XI-4 Net assets at start of year$335,581
XI-10 Net assets at end of year$315,840

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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