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← FIRST GENERATION INVESTORS

Form 990 for tax year 2022

Filed by FIRST GENERATION INVESTORS.

Totals

Total revenue
$206,455
Total expenses
$187,105
Contributions and grants received
$192,739
Grants paid
$0
Program service revenue
$0
Investment income
$13,716
Other revenue
$0
Total assets, end of year
$295,069
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$295,069
Program services expenses (Part IX)
$116,294
Management and general expenses
$68,920
Fundraising expenses
$1,891
Program service expenses (Part III)
$116,294

Program services were 62.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $192,739

  • 1g · Noncash contributions included above

    $13,989

  • 3 · Investment income

    total $1,109 · excluded $1,109

  • 7a · Gross sales of assets other than inventory

    securities $20,021

  • 7b · Less cost or other basis and sales expenses

    securities $7,414

  • 7c · Gain or loss

    securities $12,607

  • 7d · Net gain or loss

    total $12,607 · excluded $12,607

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $86,183 · program services $86,183

  • 7 · Other salaries and wages

    total $43,683 · management and general $43,683

  • 10 · Payroll taxes

    total $10,346 · program services $7,004 · management and general $3,342

  • 11a · Fees: management

    total $9,991 · management and general $9,991

  • 11c · Fees: accounting

    total $6,000 · management and general $6,000

  • 11g · Fees: other

    total $1,260 · program services $1,173 · management and general $87

  • 12 · Advertising and promotion

    total $8,487 · program services $6,596 · fundraising $1,891

  • 13 · Office expenses

    total $11,726 · program services $7,497 · management and general $4,229

  • 23 · Insurance

    total $1,588 · management and general $1,588

  • 24a · Other expenses: STUDENT ACCOUNTS

    total $7,841 · program services $7,841

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $243,896 · end of year $187,490

  • 2 · Savings and temporary cash investments

    beginning of year $4,275 · end of year $24,126

  • 13 · Investments: program-related

    beginning of year $37,405 · end of year $83,453

  • 27 · Net assets without donor restrictions

    beginning of year $108,422 · end of year $277,930

  • 28 · Net assets with donor restrictions

    beginning of year $177,154 · end of year $17,139

Mission and programs · 2022

Mission

TO TEACH THE POWER OF INVESTING TO HIGH SCHOOL STUDENTS IN UNDERSERVED COMMUNITIES.

Activities or mission (Part I)

TO TEACH THE POWER OF INVESTING TO HIGH SCHOOL STUDENTS IN UNDERSERVED COMMUNITIES

  • IN 2022, FIRST GENERATION INVESTORS HIRED TWO FULL-TIME STAFF MEMBERS, TRANSITIONING FROM BEING A VOLUNTEER-LED ORGANIZATION TO A STAFF-RUN ORGANIZATION. UNDER STAFF LEADERSHIP, THE PROGRAM HAS STRATEGICALLY SHIFTED FROM ALIGNING WITH COLLEGES TO ALIGNING WITH HIGH SCHOOLS TO IMPACT FURTHER. FIRST GENERATION INVESTORS HAS CREATED FORMAL ALIGNMENTS WITH SEVERAL SCHOOL DISTRICTS AND HIGH SCHOOL-BASED ORGANIZATIONS, INCREASING PROGRAM ACCESS TO THOUSANDS OF STUDENTS. SINCE COLLEGE STUDENTS AND THEIR MENTORSHIP ARE A PART OF THE ORGANIZATION'S ETHOS, FGI WILL CONTINUE ACTIVATING THE PROGRAM THROUGH THE SUPPORT OF VOLUNTEER COLLEGE TUTORS.

    Expenses $58,147

  • FGI PROVIDES AN 8-WEEK COURSE FOR UNDERREPRESENTED STUDENTS BY ALIGNINGWITH HIGH SCHOOLS AND ACTIVATING THROUGH TUTORS AT LOCAL COLLEGES ANDUNIVERSITIES. EVERY STUDENT WHO COMPLETES THE PROGRAM AND SUBMITS THECAPSTONE PROJECT RECEIVES $100 TO INVEST.

    Expenses $58,147

As filed on the 2022 return.

Listed in Part VII

  • Dylan Ingerman

    CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    10

  • Cole Mattox

    CO-CHAIRMAN

    Total calculated
    $0
    Hours/week
    6

  • Blake Kernan

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Alex Ingerman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Kakkis

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Stephanie Pressley

    EXECUTIVE DIRECTOR

    Total calculated
    $87,365
    From this org
    $87,365
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202322929349300837

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