Genesis Capital Improvements Foundation Inc

Nonprofit profile at a glance

EIN
992718968
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Roseville, CA, USA
Phone
9164060000
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Reported finances

Revenue
$18,964,832
Expenses
$25,643,992
Assets
$511,167,913
Liabilities
$517,803,753

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

Leadership & pay

5 people listed

Executive titles in this filing

  • John Beaman (President/Director)
  • Stephen Mayer (Vice President/Director)

Highest reported compensation

  • John Beaman (President/Director): $2,060,669 total reported compensation
  • Meredith Jobe (Secretary): $1,279,079 total reported compensation
  • Brandon Seibold (Chief Financial Officer/Director): $1,082,752 total reported compensation

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

Overview

Mission

GCIFI is a nonprofit organization organized to receive and maintain a fund or funds of real or personal property, or both and, subject to the restrictions and limitations exclusively for charitable and religious purposes for its supported organizations: Adventist Health System/West and the Pacific Union Conference of Seventh-day Adventists, both California nonprofit religious corporations.

What it reported doing in 2024

GCIFI's purposes shall include but not be limited to providing educational, financial, and operational support to the Publicly Supported Organizations. Activities in support of such purposes shall be limited to: (i) owning, acquiring, purchasing and holding membership interests, shares or other equity interests issued from time to time by limited purpose, bankruptcy remote entities organized and formed by a Publicly Supported Organization in furtherance of such Publicly Supported Organization's mission (each such entity, a "Project Entity"), (ii) pledging the membership interests, shares or other equity interests in the Project Entity, (iii) receiving distributions, payments or other amounts on account of the membership interests, shares or other equity interests in the Project Entity and make distributions or other payments to the Publicly Supported Organizations; (iv) investing monies, making expenditures and otherwise distributing money for the benefit of the Publicly Supported Organizations; and (v) engaging in any ancillary or related activities in furtherance of the foregoing.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
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.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 32
  • Sustainability: 40
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -35.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 19.93; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $25.6M in reported program spending
  • Leadership: top reported pay $2.1M · 5 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $4.3M reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Related organizations: 3 filed related-organization links
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.