Is it real?
Yes. Exemption reinstated (2023-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Oct 2023.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
10 people listed on the 990; $58K paid to officers and key staff (Part VII, Section A).
Tracey Newkirk’s $58K as Executive Director is at the 46th percentile of top reported officer pay among 2168 $100K–1M human services 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
| Name | FY2024 | FY2023 |
|---|---|---|
| Tracey Newkirk | $57,680 | $27,692 |
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.
See Genesis Block Foundation INC executive salaries →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
Helps underrepresented entrepreneurs overcome barriers to start and grow businesses.
Questions for Genesis Block Foundation INC
Your first name shows with your question. Genesis Block Foundation INC answers here, for everyone.
Provided capacity assistance for Block Eatz a ground breaking partnership to foster innovation and entrepreneur support for aspiring local entreprenuers in the culinary industry. Block eatz a food hall incubator was established at the McKeithan Center on the Nort Campus of Cape Fear Community College. Grand opening occured on 09/19/2023.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 85-2618849) · Dispute this lineBlock Academy in collaboration with Cape Fear Community College builds pipelines of diverse and qualified minority owned businesses to support the Cape Fear Region and beyond. Block Academy also provides entpreneurial training services to these companies through the Jumpstart Academy and Wits Begin programs.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 85-2618849) · Dispute this lineThe vocation to entrepreneurship (V2E) program advances entrepreneurship access for students and graduates of vocational training programs. Vocational school porgram graduates receive active support to convert their training either by career ladders to become middle-level employees or to pursue self-employment.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 85-2618849) · Dispute this lineFunders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $153K | |
| Total assetsLn 16 | $0 | $153K |
| LiabilitiesLn 26 | $0 | $3K |
| Net assetsLn 32 | $0 | $150K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $58K | $58K | $0 | $0 |
| Payroll taxesLn 10 | $4K | $4K | $0 | $0 |
| Accounting feesLn 11c | $8K | $0 | $8K | $0 |
| Advertising and promotionLn 12 | $11K | $11K | $0 | $0 |
| Office expensesLn 13 | $2K | $0 | $2K | $0 |
| Information technologyLn 14 | $3K | $1K | $2K | $0 |
| OccupancyLn 16 | $20K | $6K | $13K | $0 |
| TravelLn 17 | $143 | $0 | $143 | $0 |
| All other expensesLn 24e | $46K | $44K | $2K | $0 |
| Total functional expensesLn 25 | $151K | $124K | $27K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS May 15, 2025 | $281K | $151K | $129K | $150K | 990 PDF |
| FY2023Filed with the IRS Nov 13, 2024 | $255K | $274K | −$19K | $0 | 990 PDF |
| FY2022Filed with the IRS Nov 13, 2024 | $109K | $40K | 990 PDF | ||
| FY2021Filed with the IRS Nov 13, 2024 | $111K | $6K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990
Part I · Summary $280,599 revenue, 12 lines filed
Part VI · Governance 1 of 11 board members independent, 5 to look at
Part VIII · Statement of revenue $280,599 across 4 lines filed
Part IX · Statement of functional expenses $151,111 across 9 lines filed
Part X · Balance sheet $153,191 assets, 8 lines filed
Part XI · Reconciliation of net assets $149,912 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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