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Genesis Foundation INC FY2022 filing

Tax-deductible

New York, NY501(c)(3)Foundations & GrantmakersEIN 91-2120744Revenue $29K in FY2022

On file with the IRS505 Park Avenue 4fl, 10022-1106 · New York, NYTax-exempt since Aug 2001Publicly supported charity — 170(b)(1)(A)(vi)

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To create a more inclusive society for colombian children by improving the quality of their education.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $620K a year · 419% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
89 mo
of spending, in cash
Looks good: 89.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $52K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.05% of total assets
Looks good: liabilities are 0% 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
$29K
-68% vs prior year
Spent
$477K
To programs
100%
Net assets
$3.5M
By yearFY2020–FY2024
Revenue
$29K
FY2022▼ -68%
Tap a bar for its year
Revenue by fiscal year
FY2020$327K
FY2021$91K
FY2022$29K
FY2023$128K
FY2024$164K
Expenses
$477K
FY2022▼ -53%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.0M
FY2022$477K
FY2023$681K
FY2024$400K
Net assets
$3.5M
FY2022▼ -13%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.0M
FY2021$4.0M
FY2022$3.5M
FY2023$3.0M
FY2024$2.8M

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2001.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $476K Management & general 0% · $659

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Susan Mayer
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Genesis Foundation INC 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

Improves Colombian children's education to foster a more inclusive society.

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Provided by the organization

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1 program · $476K · in their own filed words · FY2022
01

Genesis Portfolio

Provides funds, projects and programs in the area formal education, benefiting children 0-18 years old, as well as training programs in these two areas.

$476Kprogram expense

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 · FY2024
Fidelity Investments Charitable Gift FundFY2024$52K
Total grants receivedfrom 1 funder$52K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$29K
Ln 12
Gifts and grantsLn 1h$24K
Investment incomeLn 3$5K
Money outPt IX
$477K
Ln 25
Programscol B$476K
Managementcol C$659
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$3.5M
Total assetsLn 16$3.5M
LiabilitiesLn 26$2K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$24K
Investment incomeLn 3$5K
Gains on assetsLn 7−$37K
Total revenueLn 12$29K
Assets in detailPt X, end of year
CashLn 1$684K
SavingsLn 2$2.9M
Cash and savings togetherLn 1–2$3.5M
Total assetsLn 16$3.5M
LiabilitiesLn 26$2K
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$4.0M$3.5M
Total assetsLn 16$4.0M$3.5M
LiabilitiesLn 26$4K$2K
Net assetsLn 32$4.0M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$475K$475K
Office expensesLn 13$36$36
Information technologyLn 14$192$192
Other expenses (24a–d)Ln 24$2K$1K$431
Total functional expensesLn 25$477K$476K$659$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $164K$400K−$236K$2.8M 990 PDF
FY2023 $128K$681K−$553K$3.0M 990 PDF
FY2022 Viewing $29K$477K−$448K$3.5M 990 PDF
FY2021 $91K$1.0M−$927K$4.0M 990 PDF
FY2020 $327K$1.3M−$937K$5.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $29,160 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $23,000$24,100
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $68,142$5,060
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $91,142$29,160
I-13 Grants and similar amounts paidPrior year $1,002,350$475,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $15,735$1,759
I-18 Total expensesPrior year $1,018,085$476,759
I-19 Revenue less expensesPrior year −$926,943−$447,599
Part VI · Governance 3 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $29,160 across 5 lines filed
VIII-1f All other contributions, gifts and grants$24,100
VIII-1h Total contributions, gifts and grants$24,100
VIII-3 Investment incomeExcluded from tax $42,126$42,126
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$37,066−$37,066
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $5,060$29,160
Part IX · Statement of functional expenses $476,759 across 4 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $475,000$475,000
IX-13 Office expensesManagement $36$36
IX-14 Information technologyManagement $192$192
IX-24 Other expenses (24a–d)Programs $1,100 · Management $431$1,531
IX-25 Total functional expensesPrograms $476,100 · Management $659 · Fundraising $0$476,759
Part X · Balance sheet $3,540,355 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $50,924$683,635
X-2 Savings and temporary cash investmentsStart of year $3,998,184$2,856,720
X-16 Total assetsStart of year $4,049,108$3,540,355
X-17 Accounts payable and accrued expensesStart of year $4,500$1,808
X-26 Total liabilitiesStart of year $4,500$1,808
X-27 Net assets without donor restrictionsStart of year $4,044,608$3,538,547
X-32 Total net assets or fund balancesStart of year $4,044,608$3,538,547
X-33 Total liabilities and net assetsStart of year $4,049,108$3,540,355
Part XI · Reconciliation of net assets $3,538,547 net assets at year end
XI-1 Total revenue$29,160
XI-2 Total expenses$476,759
XI-3 Revenue less expenses−$447,599
XI-4 Net assets at start of year$4,044,608
XI-5 Net unrealized gains (losses) on investments−$58,462
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,538,547

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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