2024-07-26T09:25:03-05:00 2024-03-31 824812448 PGM LLC 319 Main Street Biddeford ME 04005 990 2023-04-01 010461436 The Genesis Fund GENE 2078442035 22 Lincoln Street Brunswick ME 04011 Elizabeth Fleming-Ives Executive Director 2078442035 2024-07-26 1 1 P01200943 2074155714 2023 2024-08-08 14:25:15Z Elizabeth Fleming-Ives 22 Lincoln Street Brunswick ME 04011 4780412 0 X www.genesisfund.org X 1991 ME The mission of The Genesis Fund is to bring together resources to create housing and other economic and social opportunities for underserved people and communities throughout Maine, New Hampshire, and Vermont. 10 10 11 13 0 0 3562447 2128563 1816136 2199890 105715 442748 8513 9211 5492811 4780412 0 0 0 0 1109752 1390818 0 0 91972 2658477 1517850 3768229 2908668 1724582 1871744 46225096 53555012 33331652 38755132 12893444 14799880 The mission of The Genesis Fund is to bring together resources to create housing and other economic and social opportunities for underserved people and communities throughout Maine, New Hampshire, and Vermont. 0 0 2609801 2201901 In FY24, the Genesis Fund closed 31 loans for over $13 million, increasing the outstanding loan portfolio to $44 million. Through this lending, 619 units of housing were created or preserved. In addition, the Genesis Fund's lending reached over 35,000 additional people through support of community facilities such as healthcare clinics, food pantries, childcare centers, support of entrepreneurs, and other community service hubs. The Genesis Fund also provided over 3,200 hours of professional guidance to dozens of projects in FY24, helping to create affordable housing and community facilities by sharing professional knowledge to develop these projects. 2609801 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 116 0 1 11 1 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X X X Elizabeth Fleming-Ives Executive Director 2078442035 22 Lincoln Street Brunswick ME 04011 Rebecca Hatfield President 0.50 X X 0 0 0 Julie Wagoner Vice President 0.50 X X 0 0 0 Janice de Lima Secretary 0.50 X X 0 0 0 Laurie Miller Treasurer 0.50 X X 0 0 0 Beth Hayward Director 0.50 X 0 0 0 Shima Kabirigi Director 0.50 X 0 0 0 Jeff Mosley Director 0.50 X 0 0 0 Betty Robinson Director 0.50 X 0 0 0 Robyn Wardell Director 0.50 X 0 0 0 Tom Whelan Director 0.50 X 0 0 0 Elizabeth Fleming-Ives Executive Director 40.00 X 208295 0 31749 Jennifer Rottmann Deputy Director & CFO 40.00 X 179981 0 23569 Erica Quin-Easter Director of Lending 40.00 X 129542 0 19270 John Egan Senior Program Officer 40.00 X 106261 0 16146 Elyse Tipton Communications Director 40.00 X 100987 0 12099 725066 0 102833 5 0 1 0 0 1799817 328746 2128563 Loan Interest 522299 2008404 2008404 Loan Fees 522299 163352 163352 Technical Assistance 522299 28134 28134 2199890 442748 442748 7200 0 7200 7200 7200 Miscellaneous Income 522299 2011 2011 2011 4780412 2201901 0 449948 463703 393307 58681 11715 741646 628442 94589 18615 25895 22074 3145 676 78512 66928 9535 2049 81062 68657 10409 1996 29987 27900 1769 318 49301 45869 2910 522 96373 89666 5686 1021 79202 28987 1000 49215 37029 30879 3868 2282 45792 41526 3692 574 34350 29378 4142 830 22646 21485 908 253 13476 12298 470 708 805448 805448 23688 20141 2947 600 24508 21342 2671 495 Loan loss provision 158711 158711 Grant expense 81488 81488 Dues and publications 8875 8299 473 103 Loan servicing expense 6976 6976 2908668 2609801 206895 91972 9730151 9836650 1075359 25627 48779 69078 178429 0 34454768 42810175 15660 50277 730534 226282 527941 504252 194009 258953 46225096 53555012 487735 611251 36272 33680 33067 11093 28274578 31099108 4500000 7000000 33331652 38755132 X 10630182 12511634 2263262 2288246 12893444 14799880 46225096 53555012 X 1871744 34692 X 0 1 X 1 1 1 X 2612648 2421780 3621201 3562447 2128563 14346639 2612648 2421780 3621201 3562447 2128563 14346639 214468 14132171 69889 37126 15257 105715 449948 677935 2011 2011 15026585 0.94050 0.98230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 94213 94213 575871 166942 408929 60450 59340 1110 504252 Subordinated debt 7000000 7000000 4780412 0 4780412 0 4780412 2908668 0 2908668 0 2908668 X X 0 0 0 0 0 0 0 1 0 Elizabeth Fleming-Ives Executive Director 182045 0 26250 0 0 0 10784 0 20965 0 240044 0 0 0 Jennifer Rottmann Deputy Director & CFO 156842 0 23139 0 0 0 9324 0 14245 0 203550 0 0 0 Part I, Line 7 Supervisors may recommend bonuses based on increased job responsibilites and performance. The Board reserves the option of giving the Executive Director a yearly bonus based on a performance review indicating outstanding performance. Betty Robinson Director Investment Loan X 10000 10000 0 1 1 Laurie Miller Director Old Town Housing Authority Loan X 209807 173286 0 1 1 Rebecca Hatfield Director Investment Loan X 1000 1093 0 1 1 Rebecca Hatfield Director Avesta Housing Development Corporation X 3004941 2872391 0 1 1 3056770 Part II. Line 2,4 Genesis Fund has loans to the organizations of Old Town Housing Authority and Avesta Housing Development Corp. Directors Laurie Miller and Rebecca Hatfield are officers of these organizations respectively. Form 990, Part VI, Section B, line 11b Board members review Form 990 at the board meeting prior to filing. Form 990, Part VI, Section B, line 12c Annually, board members sign a form disclosing any conflicts of interest and certifying compliance with the policy. At each meeting, board members discuss if they have any conflicts of interest. Form 990, Part VI, Section B, line 15a The board of directors reviews comparability data from independent sources to evaluate compensation of the executive director. The board then discusses, approves, and documents the executive director's compensation at regular meetings. Form 990, Part VI, Section C, line 18 Forms are available for public inspection at The Genesis Fund's website, Guidestar's website and upon request. Form 990, Part VI, Section C, line 19 Available upon request. Form 990, Part XI, line 9: Cumulative adjustment from adoption of new credit loss standard 34692.