Totals
- Total revenue
- $5,492,811
- Total expenses
- $3,768,229
- Contributions and grants received
- $3,562,447
- Grants paid
- $0
- Program service revenue
- $1,816,136
- Investment income
- $105,715
- Other revenue
- $8,513
- Total assets, end of year
- $46,225,096
- Total liabilities, end of year
- $33,331,652
- Net assets or fund balances, end of year
- $12,893,444
- Program services expenses (Part IX)
- $3,497,287
- Management and general expenses
- $201,708
- Fundraising expenses
- $69,234
- Program service expenses (Part III)
- $3,497,287
Program services were 92.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$3,432,798
-
1f · All other contributions, gifts and grants
$129,649
-
2a · Program service revenue: Loan Interest
total $1,618,988 · related or exempt $1,618,988
-
2b · Program service revenue: Loan Fees
total $167,173 · related or exempt $167,173
-
2c · Program service revenue: Technical Assistance
total $29,975 · related or exempt $29,975
-
3 · Investment income
total $105,715 · excluded $105,715
-
11a · Other revenue: Miscellaneous Income
total $8,513 · related or exempt $8,513
-
11e · Other revenue, total
$8,513
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $598,320 · program services $490,690 · management and general $89,769 · fundraising $17,861
-
7 · Other salaries and wages
total $382,979 · program services $313,990 · management and general $58,371 · fundraising $10,618
-
8 · Pension plan contributions
total $12,435 · program services $10,222 · management and general $1,843 · fundraising $370
-
9 · Other employee benefits
total $47,314 · program services $38,893 · management and general $8,144 · fundraising $277
-
10 · Payroll taxes
total $68,704 · program services $56,266 · management and general $10,513 · fundraising $1,925
-
11b · Fees: legal
total $19,880 · program services $19,880
-
11c · Fees: accounting
total $45,300 · program services $45,300
-
11g · Fees: other
total $136,960 · program services $129,374 · management and general $5,415 · fundraising $2,171
-
12 · Advertising and promotion
total $57,257 · program services $25,136 · management and general $2,568 · fundraising $29,553
-
16 · Occupancy
total $23,397 · program services $19,151 · management and general $3,622 · fundraising $624
-
17 · Travel
total $13,284 · program services $12,954 · management and general $151 · fundraising $179
-
19 · Conferences, conventions and meetings
total $7,435 · program services $7,302 · management and general $61 · fundraising $72
-
20 · Interest
total $699,749 · program services $699,749
-
22 · Depreciation, depletion and amortization
total $25,452 · program services $20,177 · management and general $4,548 · fundraising $727
-
23 · Insurance
total $22,462 · program services $18,962 · management and general $2,726 · fundraising $774
-
24a · Other expenses: Grant expense
total $1,358,805 · program services $1,358,805
-
24b · Other expenses: Loan loss provision
total $181,589 · program services $181,589
-
24c · Other expenses: Equipment
total $19,142 · program services $15,143 · management and general $3,331 · fundraising $668
-
24d · Other expenses: Dues and publications
total $11,184 · program services $10,805 · management and general $85 · fundraising $294
-
24e · All other expenses
total $36,581 · program services $22,899 · management and general $10,561 · fundraising $3,121
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $8,624,169 · end of year $9,730,151
-
2 · Savings and temporary cash investments
beginning of year $50,435
-
3 · Pledges and grants receivable
beginning of year $15,374 · end of year $1,075,359
-
4 · Accounts receivable
beginning of year $13,117 · end of year $48,779
-
5 · Loans and receivables from officers and key people
beginning of year $182,987 · end of year $178,429
-
7 · Other notes and loans receivable
beginning of year $28,578,836 · end of year $34,454,768
-
9 · Prepaid expenses and deferred charges
beginning of year $11,977 · end of year $15,660
-
10a · Land, buildings and equipment: cost or other basis
$730,534
-
10b · Land, buildings and equipment: accumulated depreciation
$202,593
-
10c · Land, buildings and equipment, net
beginning of year $539,397 · end of year $527,941
-
15 · Other assets
beginning of year $127,025 · end of year $194,009
-
17 · Accounts payable and accrued expenses
beginning of year $413,492 · end of year $487,735
-
19 · Deferred revenue
beginning of year $18,977 · end of year $36,272
-
22 · Loans and payables to officers and key people
beginning of year $32,395 · end of year $33,067
-
24 · Unsecured notes and loans payable
beginning of year $25,112,351 · end of year $28,274,578
-
25 · Other liabilities
beginning of year $1,397,240 · end of year $4,500,000
-
27 · Net assets without donor restrictions
beginning of year $8,932,583 · end of year $10,630,182
-
28 · Net assets with donor restrictions
beginning of year $2,236,279 · end of year $2,263,262
Mission and programs · 2022
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.
-
In FY23, the Genesis Fund closed 28 loans for over $15 million, increasing the outstanding loan portfolio to $36 million. Through this lending, 658 units of housing were created or preserved. In addition, the Genesis Fund's lending provided 8,414 individuals with primary healthcare and outreach for health, recovery, and shelter; supported 250 small businesses with support, coworking and virtual programs to support entrepreneurship; and preserved access to community outreach and outpatient services for 370 people with developmental and behavioral health challenges. The Genesis Fund also provided over 2,500 hours of professional guidance to 55 projects in FY23, helping to create affordable housing and community facilities by sharing professional knowledge to develop these projects.
Expenses $3,497,287 · Revenue $1,824,649
As filed on the 2022 return.
Listed in Part VII
-
Brenda Peluso
Secretary
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeff Mosley
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Diane Donaldson
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Beth Hayward
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Rebecca Hatfield
Vice President
- Total calculated
- $0
- Hours/week
- 0.5
-
Laurie Miller
Treasurer
- Total calculated
- $0
- Hours/week
- 0.5
-
Kyra Walker
President
- Total calculated
- $0
- Hours/week
- 0.5
-
Tom Whelan
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Betty Robinson
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Shima Kabirigi
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Janice de Lima
Director
- Total calculated
- $0
- Hours/week
- 0.5
-
Elizabeth Fleming-Ives
Executive Director
- Total calculated
- $181,591
- From this org
- $160,500
- From related orgs
- $0
- Other
- $21,091
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $138,825
- Bonus
- $21,675
- Other
- $0
- Deferred
- $8,372
- Nontaxable benefits
- $12,719
- Filer's total
- $181,591
-
Jennifer Rottmann
Deputy Director
- Total calculated
- $157,719
- From this org
- $140,297
- From related orgs
- $0
- Other
- $17,422
- Hours/week
- 35
Schedule J breakdown matched by us
- Base
- $121,155
- Bonus
- $19,142
- Other
- $0
- Deferred
- $7,382
- Nontaxable benefits
- $10,040
- Filer's total
- $157,719
-
Erica Quin-Easter
Director of Lending
- Total calculated
- $118,210
- From this org
- $102,963
- From related orgs
- $0
- Other
- $15,247
- Hours/week
- 35
-
John Egan
Senior Program Officer
- Total calculated
- $140,799
- From this org
- $124,532
- From related orgs
- $0
- Other
- $16,267
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 28 July 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322129349300417
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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