The Genesis Fund

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1991

Legal Domicile

Principal Officer

Elizabeth Fleming-Ives

Phone

2078442035

Tax Period

2024-04-01 to 2025-03-31

The Genesis Fund, founded in 1991, is a community nonprofit in the Religion sector that reported $7.9M in total revenue in fiscal year 2024. Revenue surged 65% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.1M, a strong 39% operating margin.

Mission

The mission of The Genesis Fund is to bring together resources to create housing and other economic and social opportunities for underserved people and communities throughout Maine, New Hampshire, and Vermont.

Program Service Accomplishments

Program 1

Expenses: $4,555,873 Revenue: $2,803,812

In FY25, the Genesis Fund closed 35 loans for over $20 million, increasing the outstanding loan portfolio to nearly $50 million. Through this lending, more than 1,200 units of housing were created or preserved. In addition, the Genesis Fund's lending reached over 3,500 additional people through support of community facilities such as healthcare clinics, food pantries, and other community service hubs. The Genesis Fund also provided over 3,300 hours of professional guidance to dozens of projects in FY25, helping to create affordable housing and community facilities by sharing professional knowledge to develop these projects.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $4,473,276

Program Service Revenue $2,800,814

Investment Income $609,191

Other Revenue $10,198

TOTAL REVENUE $7,893,479

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,557,856

Fundraising Expenses $76,062

Program Expenses $4,555,873

Other Expenses $3,234,853

TOTAL EXPENSES $4,792,709

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,893,479	$4,780,412	+0.7%
Expenses	$4,792,709	$2,908,668	+0.6%
Net Income	$3,100,770	$1,871,744	+0.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$452,108

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rebecca Hatfield	President	0.50	Officer Director	$0	$0	$0
Julie Wagoner	Vice President	0.50	Officer Director	$0	$0	$0
Janice de Lima	Treasurer	0.50	Officer Director	$0	$0	$0
Shima Kabirigi	Secretary	0.50	Officer Director	$0	$0	$0
Denise Cilley	Director	0.50	Director	$0	$0	$0
Diane Donaldson	Director	0.50	Director	$0	$0	$0
Jeff Mosley	Director	0.50	Director	$0	$0	$0
Betty Robinson	Director	0.50	Director	$0	$0	$0
Mike Ross	Director	0.50	Director	$0	$0	$0
Diane Small	Director	0.50	Director	$0	$0	$0
Tom Whelan	Director	0.50	Director	$0	$0	$0
Elizabeth Fleming-Ives	Executive Director	40.00	Officer	$211,283	$33,448	$244,731
Jennifer Rottmann	Deputy Director & CFO	40.00	Officer	$178,775	$28,602	$207,377
Erica Quin-Easter	Director of Lending	40.00	Highest	$137,031	$21,613	$158,644
John Egan	Senior Program Officer	40.00	Highest	$107,756	$5,480	$113,236
Elyse Tipton	Communications Director	40.00	Highest	$105,398	$17,428	$122,826
Steve McDermott	Senior Loan and Community Partner Officer	40.00	Highest	$103,021	$2,423	$105,444

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$7,893,479	$4,792,709	$66,598,190	$3,100,770
2024	$4,780,412	$2,908,668	$53,555,012	$1,871,744
2023	$5,492,811	$3,768,229	$46,225,096	$1,724,582
2022	$5,192,917	$2,096,389	$38,143,317	$3,096,528
2021	$3,745,329	$2,179,164	$32,765,615	$1,566,165
2020	$3,876,573	$2,667,642	$27,181,863	$1,208,931
2019	$2,740,892	$1,386,257	$21,871,044	$1,354,635