Genesis Housing Corporation
- Assets
- $1.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 4
- Location
- Norristown, PA
- Founding
- 07/1995
- Data as of
- 06/2023
- EIN
- 23-2785337
Organization Overview
Genesis Housing Corporation is located in Norristown, PA. The organization was established in 1995. 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 06/2023, Genesis Housing Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genesis Housing Corporation 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 06/2023, Genesis Housing Corporation generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT OF AFFORDABLE HOUSING, REVITALIZATION OF NEIGHBORHOODS & EDUCATION OF CONSUMERS ON HOUSING AND FINANCIAL ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MONTGOMERY COUNTY LEAD PAINT ABATEMENT AND HEALTHY HOMES PROGRAM
HOUSING REHAB PROGRAMS -VACANT PROPERTYMONTGOMERY COUNTY HOMEOWNER REHABHOMEOWNER SINGLE SYSTEM PROGRAMS
HOUSING COUNSELING PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Prante President | OfficerTrustee | 1.5 | $0 |
Susan Shiber President | OfficerTrustee | 1.5 | $0 |
Robert Stevenson Secretary/treasurer | OfficerTrustee | 2 | $0 |
Brian Billings Vice President | OfficerTrustee | 1 | $0 |
Al Gryga Director | Trustee | 1 | $0 |
Sharon Mcmichael Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beech Street Factory Lp Construction Costs | 6/29/17 | $718,756 |
Reliance Crossing Lp Construction Costs | 6/29/17 | $114,488 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,003,698 |
| All other contributions, gifts, grants, and similar amounts not included above | $245,460 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,249,158 |
| Total Program Service Revenue | $351,536 |
| Investment income | $1,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,602,512 |
| 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. | $87,412 |
| Compensation of current officers, directors, key employees. | $35,982 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $164,424 |
| Pension plan accruals and contributions | $4,929 |
| Other employee benefits | $14,841 |
| Payroll taxes | $18,608 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $107 |
| Fees for services: Accounting | $15,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,671 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,431 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $870 |
| Interest | $1,331 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,993 |
| Insurance | $27,902 |
| All other expenses | $100,934 |
| Total functional expenses | $1,590,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,043 |
| Savings and temporary cash investments | $344,440 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $148,658 |
| 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 | $2,267 |
| Net Land, buildings, and equipment | $528,023 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,944 |
| Total assets | $1,157,375 |
| Accounts payable and accrued expenses | $137,132 |
| Grants payable | $0 |
| Deferred revenue | $19,239 |
| 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 | $30,106 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $30,322 |
| Total liabilities | $216,799 |
| Net assets without donor restrictions | $223,879 |
| Net assets with donor restrictions | $716,697 |
| 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 | $1,157,375 |