Genest Trust Fbo
Genest Trust Fbo maintains stable assets and minimal liabilities with no officer compensation.
EIN: 16082968 · Portland, ME · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $138K |
| Total Expenses | $14K |
| Program Spending | 90% |
| Net Assets | $233K |
| Transparency Score | 85/100 |
Is Genest Trust Fbo Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Genest Trust Fbo directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Genest Trust Fbo
Genest Trust Fbo (EIN: 16082968) is a nonprofit organization based in Portland, ME, classified under NTEE code T22. The organization reported total revenue of $138K and total assets of $260K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Genest Trust Fbo's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Genest Trust Fbo is a small nonprofit that has been operating for 17 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $14K |
| Surplus / Deficit | $-3,590 |
| Total Assets | $233K |
| Total Liabilities | $1 |
| Net Assets | $233K |
| Operating Margin | -33.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 194.2 months |
Financial Health Grade: B
In 2023, Genest Trust Fbo reported a deficit of $4K with expenses exceeding revenue, holds 194.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Genest Trust Fbo's revenue has declined at a compound annual growth rate (CAGR) of -7.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +148.8% | -14.9% | -1.6% |
| 2022 | -88.4% | +35.0% | -5.0% |
| 2021 | +149.9% | +2.9% | +11.2% |
| 2020 | +115.5% | -16.4% | +1.3% |
| 2019 | -27.0% | +20.3% | +25.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Genest Trust Fbo 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: 90%
- fundraising: 0%
According to IRS 990 filings, Genest Trust Fbo allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 deficit of $4K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the trust. This is a positive indicator for a small trust, suggesting that all available funds are directed towards its mission or asset growth.
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 Genest Trust Fbo's IRS 990 filings:
- Inconsistent revenue generation, with significant fluctuations (e.g., $37,550 in 2021 vs. $4,345 in 2022).
Strengths
The following positive indicators were identified for Genest Trust Fbo:
- Consistent asset growth over the long term, from $190,714 in 2011 to $233,086 in 2023.
- Extremely low liabilities, often reported as just $1, indicating strong financial stability.
- No officer compensation reported across all filings, suggesting efficient use of funds.
- Consistent filing of IRS Form 990s, demonstrating transparency.
Frequently Asked Questions about Genest Trust Fbo
Is Genest Trust Fbo a legitimate charity?
Genest Trust Fbo (EIN: 16082968) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $138K. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Genest Trust Fbo spend its money?
Genest Trust Fbo directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Genest Trust Fbo tax-deductible?
Genest Trust Fbo is registered as a tax-exempt nonprofit (EIN: 16082968). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Genest Trust Fbo compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Genest Trust Fbo is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Genest Trust Fbo located?
Genest Trust Fbo is headquartered in Portland, Maine and files with the IRS under EIN 16082968. It is classified under NTEE code T22.
How many years of IRS 990 filings does Genest Trust Fbo have?
Genest Trust Fbo has 10 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 $138K in total revenue.
What are the specific grantmaking activities or beneficiaries of Genest Trust Fbo?
The provided data does not detail the specific grant recipients or program activities. As a private grantmaking foundation (NTEE T22), its primary mission would be to distribute funds to other organizations or individuals, but the summary lacks this granular information.
Why does the organization consistently report $1 in liabilities in recent years?
The consistent reporting of $1 in liabilities is unusual. It could represent a nominal placeholder or a very minor, recurring obligation. Without further detail from the full 990 forms, the exact nature of this liability is unclear.
How does the trust manage its investment portfolio to achieve asset growth?
The data shows a gradual increase in assets from $190,714 in 2011 to $233,086 in 2023. However, the specific investment strategies or returns contributing to this growth are not detailed in the provided financial summary.
Filing History
IRS 990 filing history for Genest Trust Fbo showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Genest Trust Fbo's revenue has declined by 60.7%, moving from $28K to $11K. Total assets increased by 22.2% over the same period, from $191K to $233K. Total functional expenses rose by 21.4%, from $12K to $14K. In its most recent filing year (2023), Genest Trust Fbo reported a deficit of $4K, with expenses exceeding revenue. The organization holds $1 in liabilities against $233K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $233K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11K | $14K | $233K | $1 | — | — |
| 2022 | $4K | $17K | $237K | $1 | — | — |
| 2021 | $38K | $13K | $250K | $1 | — | — |
| 2020 | $15K | $12K | $224K | $1 | — | — |
| 2019 | $7K | $15K | $221K | $1 | — | View 990 |
| 2015 | $10K | $12K | $176K | $1 | — | View 990 |
| 2014 | $6K | $12K | $179K | $0 | — | View 990 |
| 2013 | $8K | $10K | $184K | $0 | — | View 990 |
| 2012 | $6K | $11K | $186K | $0 | — | View 990 |
| 2011 | $28K | $12K | $191K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11K, expenses of $14K, and assets of $233K (revenue +148.8% year-over-year).
- 2022: Revenue of $4K, expenses of $17K, and assets of $237K (revenue -88.4% year-over-year).
- 2021: Revenue of $38K, expenses of $13K, and assets of $250K (revenue +149.9% year-over-year).
- 2020: Revenue of $15K, expenses of $12K, and assets of $224K (revenue +115.5% year-over-year).
- 2019: Revenue of $7K, expenses of $15K, and assets of $221K (revenue -27.0% year-over-year).
- 2015: Revenue of $10K, expenses of $12K, and assets of $176K (revenue +47.6% year-over-year).
- 2014: Revenue of $6K, expenses of $12K, and assets of $179K (revenue -21.1% year-over-year).
- 2013: Revenue of $8K, expenses of $10K, and assets of $184K (revenue +28.2% year-over-year).
- 2012: Revenue of $6K, expenses of $11K, and assets of $186K (revenue -76.8% year-over-year).
- 2011: Revenue of $28K, expenses of $12K, and assets of $191K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Genest Trust Fbo:
Data Sources and Methodology
This transparency report for Genest Trust Fbo 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.