2024-09-26T12:59:40-07:00 2023-12-31 570957419 The Hobbs Group PA 1704 Laurel Street Columbia SC 29201 990 2023-01-01 205473974 Genesis Homes Inc GENE 8647358083 PO Box 5839 Greenville SC 29606 Tom Whitted CEO 2024-09-26 true true Will Stevens CPA P01208094 8037990555 2023 2024-08-08 14:25:15Z Tom Whitted PO Box 5839 Greenville SC 29606 838769 false X https://www.genesishomessc.org/about_us X 2006 SC GENESIS HOMES SEEKS TO FACILITATE NEIGHBORHOOD REVITALIZATION EFFORTS IN LOW TO MODERATE INCOME AREAS IN THE UPSTATE OF SOUTH CAROLINA THROUGH DEVELOPMENT OF AFFORDABLE HOUSING(HOME OWNERSHIP AND RENTAL), COMMUNITY DEVELOPMENT, PUBLIC/PRIVATE PARTNERSHIPS AND EMPOWERMNT ACTIVITIES. 20 20 3 0 97585 7046 388705 803730 9750 26973 235777 1020 731817 838769 0 0 96639 95640 0 0 573051 682595 669690 778235 62127 60534 10521720 14113783 7783542 11315071 2738178 2798712 GENESIS HOMES SEEKS TO FACILITATE NEIGHBORHOOD REVITALIZATION EFFORTS IN LOW TO MODERATE INCOME AREAS IN THE UPSTATE OF SOUTH CAROLINA THROUGH DEVELOPMENT OF AFFORDABLE HOUSING(HOME OWNERSHIP AND RENTAL), COMMUNITY DEVELOPMENT, PUBLIC/PRIVATE PARTNERSHIPS AND EMPOWERMNT ACTIVITIES. false false 718794 803730 GENESIS HOMES SEEKS TO FACILITATE NEIGHBORHOOD REVITALIZATION EFFORTS IN LOW TO MODERATE INCOME AREAS IN THE UPSTATE OF SOUTH CAROLINA THROUGH DEVELOPMENT OF AFFORDABLE HOUSING(HOME OWNERSHIP AND RENTAL), COMMUNITY DEVELOPMENT, PUBLIC/PRIVATE PARTNERSHIPS AND EMPOWERMNT ACTIVITIES. 718794 true false false false false false false false false false true false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true X 13 0 true 3 true false false false false false false false 0 false false false false false false false X 20 20 false false false false false false false true true false false true true true true false true false false false SC X X Sandy Brown 8649793975 133 Winding River Drive Anderson SC 29625 Tom Whitted CEO 40.00 0.00 X 48000 0 0 Leif Busby Board Member 1.00 0.00 X 0 0 0 Mamie Watkins Board Member 1.00 0.00 X 0 0 0 Will Childers Board Member 1.00 0.00 X 0 0 0 Alana Bell Secretary 1.00 0.00 X X 0 0 0 Yvonne Duckett Board Member 1.00 0.00 X 0 0 0 Austin Goforth Board Member 1.00 0.00 X 0 0 0 Sallie Gold Board Member 1.00 0.00 X 0 0 0 Lacy Grimm Board Member 1.00 0.00 X 0 0 0 Sandy Brown Treasurer 1.00 0.00 X X 0 0 0 Hayes Holliday Board Member 1.00 0.00 X 0 0 0 Rick Joye Board Member 1.00 0.00 X 0 0 0 Sylvia Palmer Board Member 1.00 0.00 X 0 0 0 Dejr Bostick Board Member 1.00 0.00 X 0 0 0 Adele Ryan Board Member 1.00 0.00 X 0 0 0 Frank Smith Board Member 1.00 0.00 X 0 0 0 Gaye Sprague Chair 1.00 0.00 X X 0 0 0 Traci Brookie Board Member 1.00 0.00 X 0 0 0 Baxter Wynn Board Member 1.00 0.00 X 0 0 0 Donna Coleman Board Member 1.00 0.00 X 0 0 0 Karla Elrod Board Member 1.00 0.00 X 0 0 0 48000 0 false false false 0 7046 7046 Amortization of Forgivabl 311372 311372 Rental Income 492358 492358 803730 26973 26973 0 0 0 0 0 0 0 Other Income 1020 1020 1020 838769 831723 0 0 0 0 48000 40800 7200 0 40844 34718 6126 0 0 6796 5776 1020 0 0 0 0 0 0 53485 21684 31801 0 1551 1551 640 640 0 0 0 0 0 68308 68308 0 290795 290795 39017 32018 6999 Rental Management 111374 111374 Repairs and Maintenance 69306 69306 Management Fees 43715 43715 Meals and Entertainment 1978 1978 2426 300 2126 778235 718794 59441 0 703771 1130689 0 414929 364133 1953 0 0 0 0 0 0 14432556 1851560 9373311 12580996 0 0 0 0 27756 37965 10521720 14113783 324092 391912 7442944 10906635 16506 16524 7783542 11315071 X 2738178 2798712 2738178 2798712 10521720 14113783 60534 X false true X true false X 465785 512146 34383 97585 7046 1116945 0 0 465785 512146 34383 97585 7046 1116945 0 1116945 812 275 401 1774 26973 30235 0 -3575 500 1020 -2055 1145125 2749099 0.97540 0.99970 X 1213294 1213294 13206883 1845514 11361369 12379 6046 6333 12580996 Deferred/Restricted Income 9950 Tenant Security deposits and emergency f 6574 16524 X 838769 838769 838769 778235 778235 778235 Part X : FIN48 Footnote The organization has received a determination letter from the Internal Revenue Service (IRS) indicating it is a tax-exempt Organization under section 501(c)(3) of the Internal Revenue Code and is subject to federal income tax only on unrelated business income. Management is not aware of any transactions which would jeopardize their tax-exempt status.Accounting principles generally accepted in the United States of America requires management to evaluate tax positions taken by the Organization and to recognize a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the Organization and has concluded that as of December 31, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) of disclosure in the financial statements. The Organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. U.S. state jurisdictions have statues of limitations that generally range from three to five years. Form 990, Part VI, Section B, Line 11b THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN GIVEN TO THE CHAIRMAN OF THE BOARD FOR APPROVAL. IT WAS THEN REVIEWED AND APPROVED BY THE ENTIRE BOARD. Form 990, Part VI, Section B, Line 12c BOARD MEMBERS ARE RESPONSIBLE FOR MAKING CONFLICT OF INTERESTS KNOWN AND RECUSING THEMSELVES FROM ANY DISCUSSION AND/OR VOTE WHEN A POTENTIAL CONFLICT EXISTS. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part V, Line 1c - Reportable Payments The organization had no reportable payments to a vendor requiring compliance with backup withholding rules, nor did they provide any reportable gaming, gambling, or winnings to a prize winner.