Genesis Homes Inc
- Assets
- $8.7m
- Revenue
- $634.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Greenville, SC
- Founding
- 01/2007
- Data as of
- 12/2021
- EIN
- 20-5473974
Organization Overview
Genesis Homes Inc is located in Greenville, SC. The organization was established in 2007. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Genesis Homes Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genesis Homes Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Genesis Homes Inc generated $634.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.1%) each year. All expenses for the organization totaled $611.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GENESIS HOMES SEEKS TO FACILITATE NEIGHBORHOOD REVITALIZATION EFFORTS IN LOW TO MODERATE INCOME AREAS IN THE UPSTATE OF SOUTH CAROLINA THROUGH DEVELOPMENT OF AFFORDABLE HOUSING(HOME OWNERSHIP AND RENTAL), COMMUNITY DEVELOPMENT, PUBLIC/PRIVATE PARTNERSHIPS AND EMPOWERMNT ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENESIS HOMES SEEKS TO FACILITATE NEIGHBORHOOD REVITALIZATION EFFORTS IN LOW TO MODERATE INCOME AREAS IN THE UPSTATE OF SOUTH CAROLINA THROUGH DEVELOPMENT OF AFFORDABLE HOUSING(HOME OWNERSHIP AND RENTAL), COMMUNITY DEVELOPMENT, PUBLIC/PRIVATE PARTNERSHIPS AND EMPOWERMNT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Whitted CEO | Officer | 40 | $48,000 |
Brett Simmons Treasurer | Officer | 1 | $0 |
Mamie Watkins Chairman | Officer | 1 | $0 |
Janet Vassallo Secretary | Officer | 1 | $0 |
Yvonne Duckett Board Member | Trustee | 1 | $0 |
Will Childers Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $34,323 |
| All other contributions, gifts, grants, and similar amounts not included above | $60 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,383 |
| Total Program Service Revenue | $343,357 |
| Investment income | $401 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,575 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $634,287 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $48,000 |
| Compensation of current officers, directors, key employees. | $7,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,349 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,229 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $51,927 |
| Advertising and promotion | $0 |
| Office expenses | $1,523 |
| Information technology | $1,731 |
| Royalties | $0 |
| Occupancy | $3,690 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $73,154 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $208,072 |
| Insurance | $27,755 |
| All other expenses | $3,434 |
| Total functional expenses | $611,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $525,607 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $599,859 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $7,598,623 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,724 |
| Total assets | $8,742,813 |
| Accounts payable and accrued expenses | $195,367 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,854,785 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,610 |
| Total liabilities | $6,066,762 |
| Net assets without donor restrictions | $2,676,051 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,742,813 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Genesis Homes Inc has recieved totaling $97,500.
| Awarding Organization | Amount |
|---|---|
Hollingsworth Funds Inc Greenville, SC PURPOSE: SUPPORT FOR NICHOL ST. PROJECT | $50,000 |
Jolley Foundation Las Vegas, NV PURPOSE: GENERAL OPERATIONS | $40,000 |
South Carolina Association For Community Economic Development Charleston, SC PURPOSE: Housing | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Presbyterian College Clinton, SC | $178,788,042 | $82,344,801 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Habitat For Humanity In Atlanta Inc Atlanta, GA | $81,551,003 | $20,263,546 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |
American Opportunity Foundation Atlanta, GA | $34,585,201 | $5,667,158 |
Recovery Place Community Services Inc Savannah, GA | $2,985,458 | $7,587,530 |
Enable Of Georgia Inc Atlanta, GA | $1,473,747 | $7,388,233 |
Habitat For Humanity International Inc Wilmington, NC | $16,885,274 | $7,269,123 |