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Genesis for Good Foundation

Tax-deductible

Newport Beach, CA501(c)(3)Foundations & GrantmakersEIN 86-1807132

To stimulate economic change, promote reinvestment and improve the quality of life for the disadvantaged, with a specific and intentional focus on minority populations.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 53 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 21.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$30K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$261K
+387% vs prior year
Spent
$99K
To programs
96%
Net assets
$145K
By yearFY2022–FY2024
Revenue
$261K
FY2024▲ +387%
Revenue by fiscal year
FY2022$54K
FY2024$261K
Net assets
$145K
FY2024▲ +863%
Net assets by fiscal year
FY2022−$19K
FY2024$145K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 2021.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $95K Management & general 2% · $2K Fundraising 2% · $2K

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Stephen H Gordon
Chairperson
$0Pt VII · Sec A
Amil Aaron
President and Executive Director
$0Pt VII · Sec A
Will Han
Chief Financial Officer
$0Pt VII · Sec A
Andy Gallardo
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Tam Nguyen
Director
$0Pt VII · Sec A
See Genesis for Good Foundation 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

Drives economic change and reinvestment to improve quality of life for disadvantaged minority populations.

Provided by the organization

This section is blank until Genesis for Good Foundation claims this page.

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1 program service account for $95K of program spending, described in the organization's own filed words · FY2024.
01

Provide grants to non-profit organizations that are successfully meeting community needs.

$95Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2021
The Steve Mihaylo and Lois Mihaylo FoundationFY2021$3K
Total grants receivedfrom 1 funder$3K
Grants paid · 9 grants · $90K · 2024–2024
House of Vibes Nutrition & WellnessFY2024$10,000
The Optical ShopFY2024$10,000
Ora CafFY2024$10,000
West Coast RecruitingFY2024$10,000
Gutierrez ChiropracticFY2024$10,000
Prisma CommunicationsFY2024$10,000
Spark StudiosFY2024$10,000
Vinos UnidosFY2024$10,000
San & Wolves BakeshopFY2024$10,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$261K
Ln 12
Gifts and grantsLn 1h$261K
Money outPt IX
$99K
Ln 25
Programscol B$95K
Managementcol C$2K
Fundraisingcol D$2K
Owns and owesPt X
$145K
net assets · Ln 32
Cash and savingsLn 1–2$175K
Total assetsLn 16$175K
LiabilitiesLn 26$30K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$261K
Noncash giftsLn 1g$2K
Total revenueLn 12$261K
Assets in detailPt X, end of year
CashLn 1$175K
Cash and savings togetherLn 1–2$175K
Total assetsLn 16$175K
LiabilitiesLn 26$30K
Net assetsLn 32$145K
OperationsPt I, VI
EmployeesI 50
VolunteersI 653
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$13K$175K
Total assetsLn 16$13K$175K
LiabilitiesLn 26$30K$30K
Net assetsLn 32−$17K$145K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$95K$95K
Legal feesLn 11b$1K$1K
Advertising and promotionLn 12$2K$2K
Other expenses (24a–d)Ln 24$364$182$182
Total functional expensesLn 25$99K$95K$2K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $261K$99K$162K$145K 990 PDF
FY2023 Not on file
FY2022 $54K−$19K 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 $260,545 across 4 lines filed
VIII-1f All other contributions, gifts and grants$260,545
VIII-1g Noncash contributions (included above)$2,200
VIII-1h Total contributions, gifts and grants$260,545
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$260,545
Part IX · Statement of functional expenses $98,929 across 4 lines filed
IX-1 Grants to domestic organizationsPrograms $95,000$95,000
IX-11b Legal feesManagement $1,365$1,365
IX-12 Advertising and promotionFundraising $2,200$2,200
IX-24 Other expenses (24a–d)Programs $182 · Management $182$364
IX-25 Total functional expensesPrograms $95,182 · Management $1,547 · Fundraising $2,200$98,929
Part X · Balance sheet $174,931 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $13,315$174,903
X-4 Accounts receivable$28
X-16 Total assetsStart of year $13,315$174,931
X-17 Accounts payable and accrued expensesStart of year $30,000$30,000
X-26 Total liabilitiesStart of year $30,000$30,000
X-32 Total net assets or fund balancesStart of year −$16,685$144,931
X-33 Total liabilities and net assetsStart of year $13,315$174,931
Part XI · Reconciliation of net assets $144,931 net assets at year end
XI-1 Total revenue$260,545
XI-2 Total expenses$98,929
XI-3 Revenue less expenses$161,616
XI-4 Net assets at start of year−$16,685
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$144,931

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

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