Genesis Block Foundation Inc

Nonprofit profile at a glance

EIN
852618849
IRS 990 coverage
2023–2025
Forms available
Form 990 2025, Form 990-EZ 2022, Form 990-N 2020
Location
Wilmington, NC, USA
Phone
9107890241
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$196,179
Expenses
$315,810
Assets
$37,800
Liabilities
$7,808

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • Tracey Newkirk (Executive Director)

Highest reported compensation

  • Tracey Newkirk (Executive Director): $104,802 total reported compensation
  • Tanya McGee (Director): $1,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Genesis Block Foundation advances entrepreneurship in underrepresented communities by reducing barriers to access in support of equity in entrepreneurship.

What it reported doing in 2025

Launched the Youth Entrepreneur Shark Tank initiative, bringing together six students from Pender and New Hanover counties to pitch their business ideas.

Operating model

Revenue model
Donor-supported. 85% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 98% 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.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 64
  • Transparency & Controls: 92
  • Accountability: 61
  • Sustainability: 7
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.6%; rating input score 83
  • Program expense ratio: 51.3%; rating input score 51
  • Fundraising efficiency: $2.23 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 85.7%; rating input score 86; 25th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -61%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.12; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 33.7%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -24.8% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 18% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 37.5% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 82.6% of revenue deployed · 51.3% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $162K in reported program spending
  • Leadership: top reported pay $105K · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 3 filing years from 2023 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

Key Signals

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

  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.