Genesis Housing Development Corporation
- Assets
- $76.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 11
- Location
- Chicago, IL
- Founding
- 11/1997
- Data as of
- 12/2022
- EIN
- 36-4150441
Organization Overview
Genesis Housing Development Corporation is located in Chicago, IL. The organization was established in 1997. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Genesis Housing Development Corporation employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Genesis Housing Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GHDC HAD A VARIETY OF PROGRAMS, INCLUDING COMMUNITY EDUCATION PROGRAMS THAT PROVIDED COUNSELING, ADVISE, AND FINANCIAL SUPPORT FOR HOMEBUYERS, AS WELL AS HOMEOWNERS THAT ARE IN DANGER OF LOSING THEIR HOMES TO FORECLOSURE OR NONPAYMENT OF MORTGAGE. THERE IS ALSO A REAL ESTATE DEVELOPMENT PROGRAM THAT BUYS FORECLOSED SINGLE FAMILY HOUSES OR TWO FLATS AND REHABS THEM AND EITHER SELLS THEM TO LOW INCOME INDIVIDUALS OR RENTS THEM TO SECTION 8 LOW INCOME INDIVIDUALS. FINALLY, GHDC HAS ILLINOIS DCEO WEATHERIZATION AND REAT PROGRAMS, WHICH HELPS LOW INCOME HOMEOWNERS TO PROPERLY WEATHERIZE THEIR HOMES TO SAVE ON GAS AND ELECTRICITY AND HELPS DEFRAY THE REPAIR AND/OR REPLACEMENT COSTS OF FURNANCES, HEATERS, AND AIR CONDITIONERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Miller Chairman | Trustee | 5 | $0 |
Jimmy Akintonde Bd Mbr & Sctry | Trustee | 5 | $0 |
Gwen Shaw Bd Mbr & Trsr | Trustee | 5 | $0 |
Abraham Lacy Executive Dir. | Officer | 40 | $0 |
Steeve Kidd Executive Director | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $0 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $0 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $76,768 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $76,768 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $76,768 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $76,768 |