Genesis Development
- Assets
- $121.4k
- Revenue
- -$1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 06/1980
- Data as of
- 06/2022
- EIN
- 23-7363533
Organization Overview
Genesis Development is located in Des Moines, IA. The organization was established in 1980. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genesis Development is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION FILED FOR BANKRUPTCY JUNE 11, 2021.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
OTHER OPERATING REVENUES AND LOSS ON DISPOSAL OF CAPITAL ASSETS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jody Stern Ceo/cfo | Officer | 50 | $86,192 |
Tim Heisterkamp President | OfficerTrustee | 4 | $0 |
Bill Steussy Secretary | OfficerTrustee | 4 | $0 |
Scott Smith Treasurer | OfficerTrustee | 4 | $0 |
Phillip Nelson Vice President | OfficerTrustee | 4 | $0 |
Keith Pedersen Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $240 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $240 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,750 |
| Net Gain/Loss on Asset Sales | -$1,032,465 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$1,013,958 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,892 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,205 |
| All other expenses | $0 |
| Total functional expenses | $301,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,363 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $121,363 |
| Accounts payable and accrued expenses | $1,049,835 |
| 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 | $1,772,802 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,822,637 |
| Net assets without donor restrictions | -$2,701,274 |
| 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 | $121,363 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Genesis Development has recieved totaling $72,795.
| Awarding Organization | Amount |
|---|---|
Grow Greene County Gaming Corporation Jefferson, IA PURPOSE: CAPITAL EXPENDITURES | $40,000 |
Leonard A Good Testamentary Tr Ogden, IA PURPOSE: CHARITABLE | $13,445 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: EXPLORERS SUMMER CAMP 2019 | $7,000 |
Bock Family Foundation Inc Perry, IA PURPOSE: GENERAL SUPPORT | $6,500 |
Siouxland Community Foundation Sioux City, IA PURPOSE: GENERAL SUPPORT | $5,850 |
View Grant Recipient Profile
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Thresholds Chicago, IL | $94,634,488 | $99,875,195 |
Black Hills Works Inc Rapid City, SD | $22,578,935 | $31,445,606 |
Challenge Unlimited Inc Alton, IL | $19,551,518 | $27,029,176 |
Outlook-Nebraska Inc Omaha, NE | $23,943,188 | $22,481,784 |
Epic Peoria, IL | $12,938,374 | $20,980,141 |
New Star Inc Chicago Heights, IL | $17,179,353 | $15,946,241 |
First Resources Corp Sigourney, IA | $9,340,910 | $15,811,214 |
Cedar Valley Services Inc Austin, MN | $19,653,627 | $16,645,958 |
Christian Opportunity Center Pella, IA | $13,962,431 | $13,502,776 |
Huron Area Center For Independence Huron, SD | $13,427,991 | $15,192,103 |
Progress Industries Newton, IA | $5,056,933 | $12,560,187 |
Opportunities Inc Of Jefferson County Fort Atkinson, WI | $79,445,205 | $15,358,946 |