Generosity Foundation EIN 83-3601475 Form 990 (PDF) Claim this org

Generosity Foundation FY2023 filing

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Inspires hope in at-risk communities through profound generosity rooted in faith. For fiscal year 2023 it reported $172K in revenue, $499K in expenses, and $1.2M in net assets.Pt I

Founded
2019
Type
Public foundation / grantmaker · Foundations & Grantmakers
Location
Huntsville, AL
Website
www.generosityfoundation.com
Filings
3 on file (2023–2023)
Revenue
$172KFY2023
Expenses
$499K
Net assets
$1.2M
People
3
Filings
3
Updates
0
More identity details & actions ⌄
EIN  83-3601475 Public foundation / grantmaker Huntsville, AL Founded 2019
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Inspires hope in at-risk communities through profound generosity rooted in faith.
Leadership
Joseph Mackenzie · Executive Director · $97K
Money in and out
$172K revenue, $499K expenses
Bottom line
65% program efficiency
Grants paid & assets · FY2023
Total revenue
$172K
Pt VIII · Ln 12
Total expenses
$499K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$327K
Where spending went · Part IX cols B–D
Program services $0.65 Management & general $0.35 Fundraising $0.01
Program efficiency
65%
of spending reaches programs
Operating runway
30.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
-191%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$172K
FY2023
Expenses
$499K
FY2023
Total assets
$1.3M
FY2023
Total liabilities
$25K
FY2023
Total revenue
$172K
Pt VIII · Ln 12
Total expenses
$499K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$327K
Total assetsPt X · Ln 16$1.3M
Program-expense ratioPt IX · col B65%
Voting members of governing bodyPt I · Ln 32
Independent voting membersPt I · Ln 41

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGenerosity Foundation
EINHdr · item D83-3601475
Principal addressHdr · item CHuntsville, AL
WebsiteHdr · item Jwww.generosityfoundation.com
Year of formationHdr · item L2019
State of legal domicileHdr · item MAL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFFoundations & Grantmakers (T50)
Ruling yearIRS BMFDec 2023

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a2
Independent voting membersPt VI · Ln 1b1
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$96,875Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Joseph Mackenzie’s $102K as Executive Director is at the 86th percentile of top reported officer pay among 1265 $100K–1M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023
Joseph Mackenzie$102,091$102,091$96,875

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $208K of program spending, described in the organization's own filed words · FY2023.
01

Community Night

Vulnerable community dinner to discover needs - community night is a cherished tradition where we gather over a shared meal with members of vulnerable communities. These dinners are more than just about food; they are opportunities to listen, learn, and connect on a personal level.

$91Kprogram expense
02

Mobile Serve Centers

Our serve fleet represents the mobility and reach of our mission and our ability to go to communities instead of requiring them to come to us. Comprising specially equipped vehicles, it enables us to deliver services directly to communities that might otherwise be inaccessible.

$79Kprogram expense
03

Northwoods Family Fair

Large-scale engagement with northwoods community - the northwoods family fair is a grand celebration designed to bring many communities together throughout our region in unity. This event is filled with fun activities, entertainment, and opportunities for families to connect.

$39Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants219%$376K
Total revenueLn 12$172K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.65 Management & general $0.35 Fundraising $0.01
Program services65%$323K
Management & general35%$173K
Fundraising1%$3K
Total functional expensesLn 25$499K

Balance Sheet

Part X · end of year
CashLn 1$338K
Total assetsLn 16$1.3M
Total liabilitiesLn 26$25K
Total net assetsLn 32$1.2M
Months of cash on handcomputed8.1

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.3M · Operating expenses/yr $499K
30.1 months
Where the money goes
Program services
Program services $323K · Total expenses $499K
65%
Management & General
Management & general $173K · Total expenses $499K
35%
Fundraising
Fundraising $3K · Total expenses $499K
0.7%
Cost to raise $1
Fundraising expense $3K · Solicited contributions $376K
$0.01 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $376K · Total revenue $172K
219%
Government reliance
Government grants — · Total revenue $172K
Earned-income share
Program service revenue $0 · Total revenue $172K
0%
Investment reliance
Investment income $-205K · Total revenue $172K
-119%
Program self-sufficiency
Program service revenue $0 · Total expenses $499K
0%
Growth & trend
Revenue growth (YoY)
This year $172K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $172K · Expenses $499K
-191%
Liabilities-to-Assets
Total liabilities — · Total assets $1.3M
Net-asset ratio
Net assets $1.2M · Total assets $1.3M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $913K · Total assets (Pt X, ln 16) $1.3M
72%
People & payroll
Highest Reported Total Compensation
Individual Joseph Mackenzie · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $97K · Total expenses $499K
19%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $159K · Total expenses $499K
32%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 65%
Overhead ratio 35%
Fundraising cost ratio 0.9%
Investment management fee ratio 0.5%
Legal fee ratio 0.1%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$125K
Grants paid · 17 grants · $692K · 2024–2025
First Baptist ChurchFY2025$70,000
Kids to LoveFY2025$50,000
Friends of 400FY2025$20,000
Unitemized GrantFY2025$10,661
Various Local NonprofitsFY2025$5,240
Unitemized GrantFY2025$5,141
Northwoods Community OutreachFY2025$2,500
The Legacy CenterFY2025$2,500
Unitemized GrantFY2025$2,438
Unitemized GrantFY2025$250
Unitemized GrantFY2025$129
Various Local NonprofitsFY2024$92,814
Various Local NonprofitsFY2024$92,814
Various Local NonprofitsFY2024$92,814
Unitemized GrantFY2024$81,641
Unitemized GrantFY2024$81,641
Unitemized GrantFY2024$81,641

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$954K revenue · ⤓ 990 PDF
FY2024$864K revenue · ⤓ 990 PDF
FY2023$172K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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