Is it real?
Yes. Exemption reinstated (2016-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jul 2017.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
61 cents of each dollar spent went to programs.
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.
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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 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aNo
Programs and updates
Empowers bright young people with learning and growth experiences to apply their talents.
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In 2023, genius garage followed the 2022 shift in strategy by spending more focused effort on a smaller group of students, allowing more one-on-one mentoring and teaching. We started the year by preparing the lotus formula car project as well as the daytona prototype which provided the students with a great opportunity for chassis…
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $47K | $13K |
| Total assetsLn 16 | $863K | $795K |
| LiabilitiesLn 26 | $80K | $76K |
| Net assetsLn 32 | $783K | $720K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Accounting feesLn 11c | $476 | $476 | ||
| Other fees for servicesLn 11g | $2K | $2K | $270 | |
| Advertising and promotionLn 12 | $21K | $21K | $70 | |
| Office expensesLn 13 | $27K | $3K | $25K | |
| TravelLn 17 | $6K | $3K | $2K | |
| Depreciation, depletion and amortizationLn 22 | $3K | |||
| Other expenses (24a–d)Ln 24 | $4K | $3K | $973 | |
| All other expensesLn 24e | $17K | $17K | ||
| Total functional expensesLn 25 | $81K | $50K | $29K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | −$29K | $160K | −$189K | $397K | 990 PDF |
| FY2024 | $1K | $51K | −$50K | $704K | 990 PDF |
| FY2023 Viewing | $56K | $81K | −$26K | $720K | 990 PDF |
| FY2022 | $238K | $161K | $77K | $783K | 990 PDF |
| FY2021 | $116K | $76K | $40K | $787K | 990 PDF |
| FY2020 | $42K | $78K | −$36K | $285K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $55,735 across 6 lines filed
Part IX · Statement of functional expenses $81,359 across 8 lines filed
Part X · Balance sheet $795,318 assets, 7 lines filed
Part XI · Reconciliation of net assets $719,522 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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