Genius Garage FY2024 filing

Tax-deductible

Bowling Green, OH501(c)(3)Since 2013Youth DevelopmentEIN 46-2323216

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To provide valuable learning and growth experiences for bright young people to apply their talents under the tutelage of mentors for the betterment of their future career placement and growth

501(c)(3) charity; gifts are tax-deductible.
34¢ 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
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
2 of 6
filings with a surplus
Average deficit $31K a year · 43% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
34%
of spending
Concern: 34% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $119
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$21K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1K
-98% vs prior year
Spent
$51K
To programs
34%
Net assets
$704K
By yearFY2020–FY2025
Revenue
$1K
FY2024▼ -98%
Revenue by fiscal year
FY2020$42K
FY2021$116K
FY2022$238K
FY2023$56K
FY2024$1K
FY2025−$29K
Expenses
$51K
FY2024▼ -37%
Expenses by fiscal year
FY2020$78K
FY2021$76K
FY2022$161K
FY2023$81K
FY2024$51K
FY2025$160K
Net assets
$704K
FY2024▼ -2%
Net assets by fiscal year
FY2020$285K
FY2021$787K
FY2022$783K
FY2023$720K
FY2024$704K
FY2025$397K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

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

34 cents of each dollar spent went to programs.

Program services 34% · $18K Management & general 63% · $32K

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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Volunteer
$0Pt VII · Sec A
See Genius Garage 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 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.

Provided by the organization

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1 program · in their own filed words · FY2024
01

In 2024, genius grage followed the 2023 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 multiple race cars, including the yellow corvette and the lotus formula 1 car.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$119

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1K
Ln 12
Gifts and grantsLn 1h$1K
Other incomeLn 4–11$89
Money outPt IX
$51K
Ln 25
Programscol B$18K
Managementcol C$32K
Owns and owesPt X
$704K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$725K
LiabilitiesLn 26$21K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Noncash giftsLn 1g$20K
Other incomeLn 4–11$89
Total revenueLn 12$1K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Other assetsLn 15$701K
Total assetsLn 16$725K
LiabilitiesLn 26$21K
Net assetsLn 32$704K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$13K$2K
Total assetsLn 16$795K$725K
LiabilitiesLn 26$76K$21K
Net assetsLn 32$720K$704K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$300$300
Other fees for servicesLn 11g$7K$3K$4K
Advertising and promotionLn 12$2K$2K$163
Office expensesLn 13$26K$1K$25K
TravelLn 17$5K$2K$3K
Conferences, conventions and meetingsLn 19$412$412
Depreciation, depletion and amortizationLn 22$1K
Other expenses (24a–d)Ln 24$8K$8K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$51K$18K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest −$29K$160K−$189K$397K 990 PDF
FY2024 Viewing $1K$51K−$50K$704K 990 PDF
FY2023 $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

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,362 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,273
VIII-1g Noncash contributions (included above)$20,000
VIII-1h Total contributions, gifts and grants$1,273
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $89$89
VIII-12 Total revenueRelated to mission $89$1,362
Part IX · Statement of functional expenses $51,325 across 9 lines filed
IX-11c Accounting feesManagement $300$300
IX-11g Other fees for servicesPrograms $2,535 · Management $4,305$6,840
IX-12 Advertising and promotionPrograms $2,000 · Management $163$2,163
IX-13 Office expensesPrograms $1,023 · Management $24,557$25,580
IX-17 TravelPrograms $1,993 · Management $2,988$4,981
IX-19 Conferences, conventions and meetingsPrograms $412$412
IX-22 Depreciation, depletion and amortization$1,450
IX-24 Other expenses (24a–d)Programs $7,699$7,699
IX-24e All other expensesPrograms $1,900$1,900
IX-25 Total functional expensesPrograms $17,562 · Management $32,313 · Fundraising $0$51,325
Part X · Balance sheet $724,651 assets, 7 lines filed
Asset lines not itemized here account for $21,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $13,222$2,351
X-15 Other assetsStart of year $706,300$701,300
X-16 Total assetsStart of year $795,318$724,651
X-17 Accounts payable and accrued expensesStart of year $75,796$21,000
X-26 Total liabilitiesStart of year $75,796$21,000
X-32 Total net assets or fund balancesStart of year $719,522$703,651
X-33 Total liabilities and net assetsStart of year $795,318$724,651
Part XI · Reconciliation of net assets $703,651 net assets at year end
XI-1 Total revenue$1,362
XI-2 Total expenses$51,325
XI-3 Revenue less expenses−$49,963
XI-4 Net assets at start of year$719,522
XI-9 Other changes in net assets$34,092
XI-10 Net assets at end of year$703,651

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

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