GENESIS HOUSING DEVELOPMENT CORPORATION

EIN: 300406723 501(c)(3) Housing & Shelter

ROCHESTER, NY

Total Revenue
$39,920
Total Expenses
$23,548
Total Assets
$2,601,551
Net Assets
$2,598,240
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
NY
Principal Officer
MAGGIE BRINGEWATT
Phone
5854241400
Tax Period
2023-01-01 to 2023-12-31

GENESIS HOUSING DEVELOPMENT CORPORATION, founded in 2013, is a micro nonprofit in the Housing & Shelter sector that reported $40K in total revenue in fiscal year 2023. The organization ran a surplus of $16K, a strong 41% operating margin.

Mission

TO ASSIST IN THE CREATION AND DEVELOPMENT OF AFFORDABLE HOUSING IN NEW YORK FOR INDIVIDUALS, FAMILIES, THE ELDERLY AND SPECIAL NEEDS POPULATIONS, INCLUDING VETERANS, HOMELESS, INTELLECTUALLY OR DEVELOPMENTALLY DISABLED PERSONS, AND PERSONS WITH PHYSICAL IMPAIRMENTS.

Program Service Accomplishments

Program 1
Expenses: $16,148 Revenue: $3,000

THE ORGANIZATION PROVIDES DEVELOPMENT SERVICES TO DEVELOPERS OF AFFORDABLE HOUSING THROUGH SUBSIDIARIES OPERATING AS MANAGING MEMBERS OF LIMITED LIABILITY COMPANIES FORMED FOR THE PURPOSE OF...

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THE ORGANIZATION PROVIDES DEVELOPMENT SERVICES TO DEVELOPERS OF AFFORDABLE HOUSING THROUGH SUBSIDIARIES OPERATING AS MANAGING MEMBERS OF LIMITED LIABILITY COMPANIES FORMED FOR THE PURPOSE OF DEVELOPING, BUILDING, AND MANAGING HOUSING UNITS FOR LOW INCOME PERSONS LIVING IN NEW YORK.THE COMPANY APPLIED FOR FUNDS AND WAS AWARDED GRANTS FROM NEW YORK ENERGY RESEARCH AND DEVELOPMENT AUTHORITY OF $24,000 WHICH WAS LOANED TO SENNETT MEADOWS AN AFFORDABLE HOUSING PROJECT FORMED TO ACQUIRE, DEVELOP, CONSTRUCT, MAINTAIN AND OPERATE A 60-UNIT MULTIFAMILY APARTMENT COMPLEX INTENDED FOR RENTAL TO PERSONS OF LOW AND MODERATE INCOME.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $24,000
Program Service Revenue $3,000
Investment Income $12,720
Other Revenue $200
TOTAL REVENUE $39,920

Expense Breakdown

Grants Paid $15,000
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $16,148
Other Expenses $8,548
TOTAL EXPENSES $23,548

Year-over-Year Comparison

2023 2022 Change
Revenue $39,920 N/A N/A
Expenses $23,548 N/A N/A
Net Income $16,372 $0 N/A
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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Governance

Voting Members
4
Independent Members
4
Employees
N/A
Volunteers
N/A

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
3
$0
Total Directors
4
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CLAYTON CLOEN SECRETARY/TREASURER 1.00
Officer Director
$0 $0 $0
GEORGE PARKER VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
MAGGIE BRINGEWATT PRESIDENT 1.00
Officer Director
$0 $0 $0
THEODORA FINN DIRECTOR 1.00
Director
$0 $0 $0
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
2024 No data No data No data No data
2023 $39,920 $23,548 $2,601,551 $16,372
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