Overview
What is Genesis Homes Inc?
Genesis Homes Inc, based in Greenville, South Carolina, is a dedicated nonprofit organization that focuses on revitalizing neighborhoods in low to moderate income areas within the Upstate region of South Carolina. They achieve this goal through various means, including the development of affordable housing options, both for home ownership and rental, as well as community development initiatives. Genesis Homes Inc also fosters public-private partnerships and encourages empowerment activities to further enhance the living conditions in these communities. With a team of three dedicated individuals, they are committed to improving the quality of life in their designated service area.
Official website here: www.genesishomessc.org/about_us
What are the reviews and ratings of this charity?
Charity Navigator Rating 77% - Three-Star out of Four Star rating
Genesis Homes Inc has received a Three-Star rating from Charity Navigator, primarily based on its accountability and finance metrics. The organization demonstrates strong governance practices with a fully independent board and effective oversight, reflected in high scores for independent board members, audit and oversight committee, and the presence of necessary policies such as conflict of interest and document retention.
While the organization excels in many areas, it has notable limitations, particularly in the liabilities to assets ratio, which received no points due to a relatively high ratio of 73.97%. This aspect suggests potential financial vulnerabilities that could impact long-term sustainability. However, Genesis Homes maintains a commendable program expense ratio of 90.59%, indicating a significant focus on mission-related activities.
Overall, Genesis Homes Inc shows strengths in governance and financial management, yet it may need to address its financial leverage to strengthen its stability and capacity for future growth.
This AI summary has been generated from information found on Charity Navigator.
Is Genesis Homes Inc legitimate?
Genesis Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Genesis Homes Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $47,999
Professional Fundraising Fees: $0
Other Salaries and Wages: $41,773
For more financial information, click here
Official website here: www.genesishomessc.org/about_us
What is the mission statement of Genesis Homes Inc?
Genesis Homes Inc is committed to revitalizing neighborhoods in low to moderate income areas. They achieve this by developing affordable housing options, both for home ownership and rentals, engaging in community development, fostering public-private partnerships, and promoting empowerment activities. Their mission is to facilitate improvements in these communities, contributing to a better living standard for its residents.
Official website here: www.genesishomessc.org/about_us
Who is the CEO of Genesis Homes Inc?
Tom Whitted is the Ceo of Genesis Homes Inc. The CEO's salary of Genesis Homes Inc is $48,000 and their total compensation is $48,000.
Official website here: www.genesishomessc.org/about_us
What is the revenue of Genesis Homes Inc?
Genesis Homes Inc's revenue in 2022 was $731,817.
Official website here: www.genesishomessc.org/about_us
Who are the executives of Genesis Homes Inc and what are their salaries?
The average compensation at Genesis Homes Inc during 2022 was $29,924. There are 3 employees at Genesis Homes Inc.
Here are 25 key members and their salaries (Genesis Homes Inc's CEO's salary is $48,000 and their total compensation is $48,000):
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Official website here: www.genesishomessc.org/about_us
Where can I find the form 990 for Genesis Homes Inc?
Genesis Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.genesishomessc.org/about_us
Learn more at the official website: www.genesishomessc.org/about_us
Mission Statement of Genesis Homes Inc
Genesis Homes Inc is committed to fostering neighborhood revitalization efforts in low to moderate income areas within South Carolina's upstate region. This mission is accomplished through various strategies, primarily the development of affordable housing options, both for homeownership and rental purposes. Furthermore, Genesis Homes Inc engages in community development initiatives, public-private partnerships, and empowerment activities. These efforts aim to revitalize neighborhoods, ultimately improving the quality of life for the residents in these areas.
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Impact
October, 2024
Genesis Homes Inc plays a crucial role in transforming low to moderate-income neighborhoods in the Upstate of South Carolina. By focusing on the development of affordable housing options for both homeownership and rental, the organization directly addresses the housing needs of those within the community.
In addition to housing, Genesis Homes promotes community development through initiatives that encourage public and private partnerships. These collaborations enhance resources and support, helping to build a stronger community fabric. The empowerment activities organized by Genesis Homes foster a sense of ownership and agency among residents, enabling them to take active roles in the revitalization processes of their neighborhoods.
Overall, Genesis Homes Inc significantly impacts the Upstate of South Carolina by not only providing essential housing solutions but also by driving community engagement and collaboration, leading to sustainable neighborhood revitalization and improved quality of life for its residents.
This information is meant to be a general summary of Genesis Homes Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,750
- Program Service Revenue: $388,705
- Gross Receipts: $797,155
Assets and Liabilities:
- Total Assets: $10,521,720
- Total Liabilities: $7,783,542
- Net Assets: $2,738,178
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$388,705
Organization Details
Founding Year
2006
Phone
(864) 735-8083Principal Officer
Tom Whitted
Main Address
PO Box 5839, Greenville, SC, 29606
NTEE Category
Code: L20 - Housing
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