Genesis Housing Development Corporation

Nonprofit profile at a glance

EIN
364150441
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Chicago, IL, USA
Rating confidence
Limited
Sector
Low-Income & Subsidized Rental Housing

Reported finances

Revenue
$0
Expenses
$0
Assets
$76,768
Liabilities
$0

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

Leadership & pay

5 people listed

Executive titles in this filing

  • STEEVE KIDD (EXECUTIVE DIRECTOR)

People named in this filing

  • ROBERT MILLER (Chairman)
  • JIMMY AKINTONDE (BD MBR & SCTRY)
  • GWEN SHAW (BD MBR & TRSR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Genesis Housing Development Corporations mission is the re-neighboring for the communities on the near south side of Chicago through developing single and multi-family low to moderate income housing projects, and educating the public with respect to matters concerning home ownership and rentals.

What it reported doing in 2024

Genesis Housing Development Corporations mission is the re-neighboring for the communities on the near south side of Chicago through developing single and multi-family low to moderate income housing projects, and educating the public with respect to matters concerning home ownership and rentals. Genesis HDC engages in housing development activities, which is the cornerstone of the Organization. The Housing Development Program offers rental and home ownership options to low income individuals.The Community Education and Empowerment program promotes wealth building through home ownership approach to community development. Genesis HDC offers home buying classes, counseling, and credit management services to local residents. Intervention and mediation services for mortgage holders are also offered. Genesis HDC is a United States Housing and Urban Development (HUD) certified counseling agency.Illinois Neighborhood Stabilization Program (NSP) is a neighborhood stabilization program designed to revive communities hardest hit by the current foreclosure crisis. Genesis HDC has targeted the Auburn-Gresham, Chatham, and Greater Grand Crossing neighborhoods as beneficiaries of their services.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 77
  • Accountability: 94
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -72.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -64.3% per year; rating input score 0; 6th percentile among comparable filings
  • Asset growth: -31.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 10 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Transparency & Controls: Series filing activity did not reconcile in the filed values.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.