Genesis Foundation Inc

The Genesis Foundation Inc is a U.S.-based nonprofit organization established to improve the quality of education for disadvantaged children, particularly in Colombia and Latino communities in the U.S. It operates under the legal status of a 501(c)(3) organization.

Mission

The foundation's mission is to create a more inclusive society by enhancing educational programs that benefit children in vulnerable life situations. It aims to provide better opportunities for these children to develop and succeed.

History

Founded in 2001 by business leaders from the U.S. and Colombia, the Genesis Foundation began with a single donation of $10,000. Since then, it has donated over $11 million to more than 90 organizations. In 2005, the foundation expanded by opening an office in Bogotá, Colombia, to better oversee and assist its grantees. By 2010, the foundation decided to focus exclusively on formal education, specifically for children up to the age of 12.

Operations

Genesis Foundation awards annual grants worth $1 million to $2 million to nonprofit organizations. These grants support programs that educate 40,000 to 50,000 children annually, ensuring they receive quality education for a successful future. The foundation's administrative expenses are covered by its board and founders, ensuring that all tax-deductible donations directly benefit the children.

Legal Status

Donations to the Genesis Foundation Inc are tax-deductible, reflecting its status as a recognized nonprofit organization eligible to receive charitable contributions.

Expansion and Impact

In addition to its work in Colombia, the Genesis Foundation also serves Latino communities in the U.S., furthering its mission of improving educational access. By engaging the Colombian diaspora, it encourages involvement in supporting educational initiatives both domestically and internationally.

Financial Structure

The foundation manages its finances to ensure that all donations support educational programs, with no officer compensation included in charitable disbursements. This approach maximizes the impact of every contribution.

Legacy

Today, the Genesis Foundation is recognized as a leading organization promoting innovative and results-oriented education in Colombia. Its commitment to enhancing preschool and primary school education has transformed the educational landscape, benefiting thousands of children annually.

[1] https://projects.propublica.org/nonprofits/organizations/631191481 [2] https://fconline.foundationcenter.org/fdo-grantmaker-profile?key=GENE109 [3] https://www.charitynavigator.org/ein/133173504 [4] https://www.idealist.org/en/nonprofit/fe4d7233f06443d1be51b24997d46ed2-genesis-foundation-inc-new-york [5] https://www.genesisnewsusa.com/releases/356