EIN 85-2618849

Genesis Block Foundation

IRS 501(c) type
501(c)(3)
Num. employees
1
Year formed
2020
Most recent tax filings
2023-12-01
Description
The Genesis Block Foundation empowers underrepresented entrepreneurs through training, collaboration with local institutions, and innovative support in business development.
Total revenues
$254,876
2023
Total expenses
$274,357
2023
Total assets
$0
2023
Num. employees
1
2023

Program areas at Genesis Block Foundation

Provided capacity assistance for Block Eatz a ground breaking partnership to foster innovation and entrepreneur support for aspiring local entreprenuers in the culinary industry. Block eatz a food hall incubator was established at the McKeithan Center on the Nort Campus of Cape Fear Community College. Grand opening occured on 09/19/2023. Assistance included purchase of all kitchen equipment and facilitation of all programming elements including training,and onsite assistance.
The vocation to entrepreneurship (V2E) program advances entrepreneurship access for students and graduates of vocational training programs. Vocational school porgram graduates receive active support to convert their training either by career ladders to become middle-level employees or to pursue self-employment. Developed technical and virtual program, developed workforce placement program.
Block Academy in collaboration with Cape Fear Community College builds pipelines of diverse and qualified minority owned businesses to support the Cape Fear Region and beyond. Block Academy also provides entpreneurial training services to these companies through the Jumpstart Academy and Wits Begin programs. In 2023 90% of the founders that participated in Jumpstart Academy were referred from CFCC Small Business Center as part of the collaboration. Over 80% of the founders that particpated in the Wits Begin Incubator were referred from same. We graduated (2) cohorts of 7 companies for Jumpstart Academy and (1) Cohort of 8 Wits begin companies. We also participated in business expansion of (8) companies through our accelerator program.

Who funds Genesis Block Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Truist FoundationGeneral Operating$125,000
New Hanover Community EndowmentAdvancing Entrepreneurship in Underrepresented Communities By Ensuring Support for Resources and Programs That Reduce the Barriers To Entrepreneurship, Supporting Early Stage Entrepreneurs, Small Business Owners and Those Ready To Strengthen Their Business Venture.this Grant Will Support Entrepreneur Trainings, Workshops, and Business Model Development.$26,200

Personnel at Genesis Block Foundation

NameTitleCompensation
Tracey J NewkirkPresident$27,692

Financials for Genesis Block Foundation

RevenuesFYE 12/2023
Total grants, contributions, etc.$254,876
Program services$0
Investment income and dividends$0
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$254,876

Form 990s for Genesis Block Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-13990View PDF
2022-122024-11-13990EZView PDF
2021-122024-11-13990EZView PDF

Organizations like Genesis Block Foundation

OrganizationLocationRevenue
Eastern Shore Entrepreneurship CenterEaston, MD$885,296
Startingblock MadisonMadison, WI$1,136,624
Duplessy FoundationBoston, MA$182,907
Xcel StrategiesSavannah, GA$821,861
GBDC Entrepreneurship InstituteBoynton Beach, FL$125,000
Venture Noire Inc Venture NoireBentonville, AR$221,817
Coulee Region Business CenterLa Crosse, WI$266,737
On-Ramps To CareersWashington, DC$340,429
Emerge Innovation HubBenton Harbor, MI$145,380
North Mississippi Enterprise InitiativeBatesville, MS$115,845
Data update history
January 7, 2025
Posted financials
Added Form 990 for fiscal year 2023
January 4, 2025
Updated personnel
Identified 1 new personnel
January 3, 2025
Used new vendors
Identified 1 new vendor, including
December 1, 2023
Posted financials
Added Form 990N for fiscal year 2020
September 24, 2023
Received grants
Identified 1 new grant, including a grant for $26,200 from New Hanover Community Endowment
Nonprofit Types
Business and community development organizationsSchoolsCharities
Issues
EducationHuman servicesBusiness and industry
Characteristics
Management and technical assistanceTax deductible donations
General information
Address
226 N Front St
Wilmington, NC 28401
Metro area
Wilmington, NC
County
New Hanover County, NC
Phone
(910) 523-7038
IRS details
EIN
85-2618849
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2020
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S43: Management Services for Small Business, Entrepreneurs
NAICS code, primary
6116: Other Schools and Instruction
Parent/child status
Independent
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