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Genesis Housing Development Corporation

Tax-deductible

Rochester, NY501(c)(3)HousingEIN 30-0406723Revenue $44K in FY2024

On file with the IRSgenesishousing.net460 White Spruce Blvd, 14623-1608 · Rochester, NYTax-exempt since Nov 2006Publicly supported charity — 170(b)(1)(A)(vi)

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The company's charitable purpose is to assist the poor and distressed, specifically with their need for affordable, safe, clean and sanitary Housing

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $242K a year · 93% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
28 mo
of spending, in cash
Looks good: 28.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
0.4% of total assets
Looks good: liabilities are 0% 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
$44K
+9% vs prior year
Spent
$32K
To programs
80%
Net assets
$2.6M
By yearFY2020–FY2024
Revenue
$44K
FY2024▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$544K
FY2021$14K
FY2022$651K
FY2023$40K
FY2024$44K
Expenses
$32K
FY2024▲ +37%
Tap a bar for its year
Expenses by fiscal year
FY2020$3K
FY2021$8K
FY2022$18K
FY2023$24K
FY2024$32K
Net assets
$2.6M
FY2024+0.4%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.9M
FY2021$1.9M
FY2022$2.6M
FY2023$2.6M
FY2024$2.6M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2006.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $26K Management & general 20% · $6K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Clayton Cloen
Secretary/Treasurer
$0Pt VII · Sec A
George Parker
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Craig Burton
Board Member
$0Pt VII · Sec A
See Genesis Housing Development Corporation 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 affordable, safe, and clean housing for the poor and distressed.

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Provided by the organization

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1 program · $26K · in their own filed words · FY2024
01

The organization provides development services to developers of affordable housing through subsidiaries operating as managing members of limited liability companies formed for the purpose of developing, building, and managing housing units for low income persons living in new york.

$26Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $61K · 2020–2024
Habitat for Humanity International INCNY · FY2024$15,000
Marketplace Senior Housing LLCFY2024$10,000
Habitat for Humanity International INCNY · FY2023$15,000
Habitat for HumanityFY2022$15,000
Individual RecipientFY2020$5,000
Individual RecipientFY2020$1,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$44K
Ln 12
Fees for servicesLn 2g$30K
Investment incomeLn 3$13K
Other incomeLn 4–11$1K
Money outPt IX
$32K
Ln 25
Programscol B$26K
Managementcol C$6K
Owns and owesPt X
$2.6M
net assets · Ln 32
Cash and savingsLn 1–2$76K
Total assetsLn 16$2.6M
LiabilitiesLn 26$10K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$30K
Investment incomeLn 3$13K
Other incomeLn 4–11$1K
Total revenueLn 12$44K
Assets in detailPt X, end of year
CashLn 1$76K
Cash and savings togetherLn 1–2$76K
InvestmentsLn 11–13$2.5M
Total assetsLn 16$2.6M
LiabilitiesLn 26$10K
Net assetsLn 32$2.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$71K$76K
InvestmentsLn 11–13$2.5M$2.5M
Total assetsLn 16$2.6M$2.6M
LiabilitiesLn 26$3K$10K
Net assetsLn 32$2.6M$2.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$25K$25K
Legal feesLn 11b$6K$6K
InsuranceLn 23$372$372
Other expenses (24a–d)Ln 24$525$525
Total functional expensesLn 25$32K$26K$6K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $44K$32K$11K$2.6M 990 PDF
FY2023 $40K$24K$16K$2.6M 990 PDF
FY2022 $651K$18K$633K$2.6M 990 PDF
FY2021 $14K$8K$6K$1.9M 990 PDF
FY2020 $544K$3K$541K$1.9M 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 FY2024 990 (6 parts)
Part I · Summary $43,666 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $24,000$0
I-9 Program service revenuePrior year $3,000$29,744
I-10 Investment incomePrior year $12,720$12,720
I-11 Other revenuePrior year $200$1,202
I-12 Total revenuePrior year $39,920$43,666
I-13 Grants and similar amounts paidPrior year $15,000$25,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $8,548$7,297
I-18 Total expensesPrior year $23,548$32,297
I-19 Revenue less expensesPrior year $16,372$11,369
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $43,666 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,744$29,744
VIII-3 Investment incomeExcluded from tax $12,720$12,720
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,202$1,202
VIII-12 Total revenueRelated to mission $30,946 · Unrelated business $0 · Excluded from tax $12,720$43,666
Part IX · Statement of functional expenses $32,297 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $25,000$25,000
IX-11b Legal feesManagement $6,400$6,400
IX-23 InsurancePrograms $372$372
IX-24 Other expenses (24a–d)Programs $525$525
IX-25 Total functional expensesPrograms $25,897 · Management $6,400 · Fundraising $0$32,297
Part X · Balance sheet $2,619,321 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $70,723$75,773
X-4 Accounts receivableStart of year $0$0
X-13 Program-related investmentsStart of year $2,530,828$2,543,548
X-16 Total assetsStart of year $2,601,551$2,619,321
X-17 Accounts payable and accrued expensesStart of year $0$6,401
X-25 Other liabilitiesStart of year $3,311$3,311
X-26 Total liabilitiesStart of year $3,311$9,712
X-27 Net assets without donor restrictionsStart of year $2,598,240$2,609,609
X-32 Total net assets or fund balancesStart of year $2,598,240$2,609,609
X-33 Total liabilities and net assetsStart of year $2,601,551$2,619,321
Part XI · Reconciliation of net assets $2,609,609 net assets at year end
XI-1 Total revenue$43,666
XI-2 Total expenses$32,297
XI-3 Revenue less expenses$11,369
XI-4 Net assets at start of year$2,598,240
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,609,609

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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