Genie Foundation Inc
- Assets
- $9.8m
- Revenue
- $6.0m
- Investments
- $9.5m
- Employees
- 0
- Location
- Boston, MA
- Founding
- 07/2019
- Data as of
- 12/2021
- EIN
- 83-2914467
Organization Overview
Genie Foundation Inc is located in Boston, MA. The organization was established in 2019. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genie Foundation 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, Genie Foundation Inc generated $6.0m in total revenue. All expenses for the organization totaled $933.0k during the year ending 12/2021. While expenses have increased by 55.0% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Genie Foundation Inc has awarded 49 individual grants totaling $2,190,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Strossman President | 1 | $0 | |
Berkay Mollamustafagolu Treasurer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,193,090 |
| Interest on Savings | $3,893 |
| Dividends & Interest | $138,768 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $674,537 |
| Capital Gain Net Income | $3,569,524 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $24,584 |
| Total Revenue | $6,034,872 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $785 |
| Taxes | $10,604 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $82,954 |
| Contributions, gifts, grants paid | $850,000 |
| Total expenses and disbursements | $932,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $256,538 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $4,052,784 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $9,782,767 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Genie Foundation Inc has awarded $850,000 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
GLOBALGIVING PURPOSE: GENERAL SUPPORT | $200,000 |
New York, NY PURPOSE: GENERAL SUPPORT | $100,000 |
AMERICARES PURPOSE: GENERAL SUPPORT | $100,000 |
BRIDGE TURKLYE FUND PURPOSE: GENERAL SUPPORT | $100,000 |
DOCTORS WITHOUT BORDERS USA INC PURPOSE: GENERAL SUPPORT | $100,000 |
San Jose, CA PURPOSE: GENERAL SUPPORT | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |
Bernard And Anne Spitzer Charitable Tr New York, NY | $0 | $17,565,686 |