Overview
What is Genesis Housing Development Corporation?
Genesis Housing Development Corporation, based in Chicago, Illinois, is a nonprofit organization dedicated to renovating communities on the city's near south side. Their primary focus is on developing single and multi-family low to moderate income housing projects. They offer both rental and home ownership options to assist low-income individuals. The organization also runs a Community Education and Empowerment program, which promotes wealth building through a home ownership approach to community development. This program provides home buying classes, counseling, credit management services, and intervention and mediation services for mortgage holders. Genesis Housing Development Corporation is a certified counseling agency by the United States Housing and Urban Development (HUD) and is actively involved in neighborhood stabilization programs, such as the Illinois Neighborhood Stabilization Program (NSP), to revitalize areas affected by the foreclosure crisis. With a mission to rejuvenate communities and educate the public on home ownership and rentals, Genesis Housing Development Corporation employs 11 individuals to achieve their goals.
Is Genesis Housing Development Corporation legitimate?
Genesis Housing Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Genesis Housing Development Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Genesis Housing Development Corporation?
Genesis Housing Development Corporation's mission is centered around revitalizing communities on the near south side of a city, primarily through the development of affordable housing projects for low to moderate income families. The organization also strives to educate the public on matters related to home ownership and rentals. Their housing development activities offer both rental and home ownership options to eligible individuals. The Community Education and Empowerment program, a key component, promotes wealth building through home ownership and provides various services such as credit management, home buying classes, and interventions for mortgage holders in danger of foreclosure or nonpayment of mortgage. Genesis HDC is committed to stabilizing neighborhoods that have been impacted by the foreclosure crisis, focusing on areas like Auburn-Gresham, Chatham, and Greater Grand Crossing.
Who is the CEO of Genesis Housing Development Corporation?
Abraham Lacy is the Chairman of Genesis Housing Development Corporation.
What is the revenue of Genesis Housing Development Corporation?
Genesis Housing Development Corporation's revenue in 2022 was $0.
Who are the executives of Genesis Housing Development Corporation and what are their salaries?
There are 11 employees at Genesis Housing Development Corporation.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Genesis Housing Development Corporation?
Genesis Housing Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Genesis Housing Development Corporation
Genesis Housing Development Corporation, a nonprofit organization, is committed to revitalizing communities on the near south side of Chicago. Their mission is twofold: firstly, they engage in developing single and multi-family low to moderate income housing projects. This initiative provides residents with both rental and home ownership options, catering to the needs of individuals with low income.
Secondly, Genesis Housing Development Corporation is dedicated to educating the public on matters relating to home ownership and rentals. Through their Community Education and Empowerment program, they promote wealth building by adopting a community development approach centered on home ownership. The organization offers a range of services, including home buying classes, counseling, and credit management, aimed at local residents. Additionally, they provide intervention and mediation services for mortgage holders who are in danger of losing their homes due to foreclosure or nonpayment of mortgage. Genesis Housing Development Corporation is recognized as a United States Housing and Urban Development (HUD) certified counseling agency, further solidifying their commitment to serving their community.
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Impact
October, 2024
Genesis Housing Development Corporation significantly impacts the near south side of Chicago by revitalizing communities through the development of affordable housing. By focusing on low to moderate-income housing projects, the organization addresses crucial housing needs, helping to stabilize neighborhoods and provide residents with a sense of belonging.
Additionally, Genesis offers essential counseling and financial support programs aimed at assisting both homebuyers and existing homeowners facing financial difficulties. This comprehensive support system empowers residents to navigate homeownership challenges, reducing the risk of losing their homes and fostering long-term stability.
Through education and a commitment to community engagement, Genesis not only facilitates access to housing but also strengthens the social fabric of the area, re-neighboring the community and creating pathways for sustainable growth and development.
This information is meant to be a general summary of Genesis Housing Development Corporation. 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.
Assets and Liabilities:
- Total Assets: $76,768
- Total Liabilities: $0
- Net Assets: $76,768
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL & REAL ESTATE INC
Organization Details
Founding Year
1997
Principal Officer
Abraham Lacy
Main Address
837 WEST 115TH STREET, CHICAGO, IL, 60643
NTEE Category
Code: L21 - Housing
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