Genesis Homes Inc
Genesis Homes Inc shows strong asset growth and consistent surpluses, with no reported officer compensation.
EIN: 205473974 · Greenville, SC · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $778K |
| Program Spending | 85% |
| Net Assets | $2.8M |
| Transparency Score | 85/100 |
Is Genesis Homes Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Genesis Homes Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Genesis Homes Inc
Genesis Homes Inc (EIN: 205473974) is a nonprofit organization based in Greenville, SC, classified under NTEE code L20. The organization reported total revenue of $1.2M and total assets of $14.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Genesis Homes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Genesis Homes Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $839K |
| Total Expenses | $778K |
| Surplus / Deficit | +$61K |
| Total Assets | $14.1M |
| Total Liabilities | $11.3M |
| Net Assets | $2.8M |
| Operating Margin | 7.2% |
| Debt-to-Asset Ratio | 80.2% |
| Months of Reserves | 217.6 months |
Financial Health Grade: A
In 2023, Genesis Homes Inc reported a surplus of $61K with revenue exceeding expenses, holds 217.6 months of operating reserves (strong position), has a debt-to-asset ratio of 80.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Genesis Homes Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.6% | +16.2% | +34.1% |
| 2022 | +15.4% | +9.5% | +20.3% |
| 2021 | -29.4% | +5.0% | +18.3% |
| 2020 | +12.3% | -1.6% | +4.3% |
| 2019 | -35.3% | +10.2% | +3.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Genesis Homes Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Genesis Homes Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $61K, with revenue exceeding expenses.
- Debt-to-asset ratio: 80.2%.
Executive Compensation Analysis
Genesis Homes Inc consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be volunteer-based or compensated through non-officer roles, which enhances the organization's efficiency in direct program spending.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Genesis Homes Inc's IRS 990 filings:
- Significant increase in liabilities from $1.5M in 2020 to $11.3M in 2023 without detailed explanation in provided data.
Strengths
The following positive indicators were identified for Genesis Homes Inc:
- Consistent revenue exceeding expenses, indicating financial stability (e.g., $838,769 revenue vs $778,235 expenses in 2023).
- Strong asset growth, nearly doubling from $7.3M in 2020 to $14.1M in 2023, suggesting capacity building.
- 0% reported officer compensation across all filings, indicating high efficiency in leadership costs.
- Positive net assets trend over multiple years.
Frequently Asked Questions about Genesis Homes Inc
Is Genesis Homes Inc a legitimate charity?
Genesis Homes Inc (EIN: 205473974) is a registered tax-exempt nonprofit based in South Carolina. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.2M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Genesis Homes Inc spend its money?
Genesis Homes Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Genesis Homes Inc tax-deductible?
Genesis Homes Inc is registered as a tax-exempt nonprofit (EIN: 205473974). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Genesis Homes Inc's spending goes to programs?
Genesis Homes Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Genesis Homes Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Genesis Homes Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Genesis Homes Inc located?
Genesis Homes Inc is headquartered in Greenville, South Carolina and files with the IRS under EIN 205473974. It is classified under NTEE code L20.
How many years of IRS 990 filings does Genesis Homes Inc have?
Genesis Homes Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.2M in total revenue.
Is Genesis Homes Inc a good charity?
Based on its financial data, Genesis Homes Inc appears to be a well-managed organization with consistent revenue exceeding expenses and significant asset growth. The lack of reported officer compensation is a positive indicator of efficiency. However, understanding the nature of the increasing liabilities would provide a more complete picture of its financial health.
What is the reason for the significant increase in liabilities from $1,558,123 in 2020 to $11,315,071 in 2023?
The substantial increase in liabilities likely reflects the organization's investment in its housing development and management activities, such as taking on mortgages or loans for property acquisition and construction. This would be typical for an organization with an NTEE code of L20.
How does Genesis Homes Inc fund its operations given the 0% officer compensation?
The 0% officer compensation suggests that executive leadership may be volunteer-based, or their compensation is categorized differently within the expense structure, or they are compensated through a related entity not reflected in this specific line item. This contributes to a higher proportion of funds potentially being directed towards programs.
Filing History
IRS 990 filing history for Genesis Homes Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Genesis Homes Inc's revenue has declined by 41.8%, moving from $1.4M to $839K. Total assets increased by 410.6% over the same period, from $2.8M to $14.1M. Total functional expenses rose by 76.3%, from $441K to $778K. In its most recent filing year (2023), Genesis Homes Inc reported a surplus of $61K, with revenue exceeding expenses. The organization holds $11.3M in liabilities against $14.1M in assets (debt-to-asset ratio: 80.2%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $839K | $778K | $14.1M | $11.3M | — | — |
| 2022 | $732K | $670K | $10.5M | $7.8M | — | View 990 |
| 2021 | $634K | $612K | $8.7M | $6.1M | — | View 990 |
| 2020 | $898K | $583K | $7.4M | $1.6M | — | View 990 |
| 2019 | $800K | $592K | $7.1M | $1.6M | — | View 990 |
| 2018 | $1.2M | $537K | $6.8M | $1.5M | — | View 990 |
| 2017 | $857K | $477K | $5.9M | $1.3M | — | View 990 |
| 2016 | $979K | $417K | $5.8M | $1.6M | — | View 990 |
| 2015 | $1.2M | $578K | $4.7M | $1.1M | — | View 990 |
| 2014 | $1.0M | $619K | $4.3M | $1.2M | — | View 990 |
| 2013 | $251K | $238K | $3.2M | $555K | — | View 990 |
| 2012 | $619K | $246K | $3.1M | $565K | — | View 990 |
| 2011 | $1.4M | $441K | $2.8M | $552K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $839K, expenses of $778K, and assets of $14.1M (revenue +14.6% year-over-year).
- 2022: Revenue of $732K, expenses of $670K, and assets of $10.5M (revenue +15.4% year-over-year).
- 2021: Revenue of $634K, expenses of $612K, and assets of $8.7M (revenue -29.4% year-over-year).
- 2020: Revenue of $898K, expenses of $583K, and assets of $7.4M (revenue +12.3% year-over-year).
- 2019: Revenue of $800K, expenses of $592K, and assets of $7.1M (revenue -35.3% year-over-year).
- 2018: Revenue of $1.2M, expenses of $537K, and assets of $6.8M (revenue +44.2% year-over-year).
- 2017: Revenue of $857K, expenses of $477K, and assets of $5.9M (revenue -12.4% year-over-year).
- 2016: Revenue of $979K, expenses of $417K, and assets of $5.8M (revenue -21.0% year-over-year).
- 2015: Revenue of $1.2M, expenses of $578K, and assets of $4.7M (revenue +20.6% year-over-year).
- 2014: Revenue of $1.0M, expenses of $619K, and assets of $4.3M (revenue +309.4% year-over-year).
- 2013: Revenue of $251K, expenses of $238K, and assets of $3.2M (revenue -59.4% year-over-year).
- 2012: Revenue of $619K, expenses of $246K, and assets of $3.1M (revenue -57.1% year-over-year).
- 2011: Revenue of $1.4M, expenses of $441K, and assets of $2.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Genesis Homes Inc:
Data Sources and Methodology
This transparency report for Genesis Homes Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.