Gen-One Inc

Nonprofit profile at a glance

EIN
830933681
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Charlotte, NC, USA
Phone
7033382625
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Youth Development Programs

Reported finances

Revenue
$1,167,184
Expenses
$1,036,282
Assets
$1,540,062
Liabilities
$15,032

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Highest reported compensation

  • Ian Joyce (Executive Dir.): $110,207 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

GenOne partners with talented, first-generation students from underserved communities from middle school through college, helping them successfully navigate to and through every transition.

What it reported doing in 2024

GenOne is a long-term college prep program serving high-performing, first-generation Scholars from Title I middle schools from eighth grade through college graduation. Beginning in middle school, Scholars receive year-round academic support, ACT preparation, college essays, tours, applications, financial aid and scholarship guidance, mentoring, and career exploration to be scholarship-ready by senior year. GenOne continues supporting Scholars through college persistence to ensure college completion. In the 24-25 SY, GenOne served 281 Scholars from eighth grade through college, a 26% increase from last year. Our high school seniors earned a record $6.7M in scholarships and financial aid, 100% were accepted to four-year colleges, 76% graduated debt-free, and 96% borrowed less than the NC average.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 59
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61.4%; rating input score 61
  • Program expense ratio: 68%; rating input score 68
  • Fundraising efficiency: $9.81 raised per $1 spent on fundraising; rating input score 37; 37th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 11.2%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 1.49; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 10.6%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 32.9% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 26.8% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: 31.1% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 61.4% of revenue deployed · 68% of spending went to programs
  • Governance: 14 of 14 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $705K in reported program spending
  • Leadership: top reported pay $110K · 15 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 37/100.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.