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← FIRST GENERATION INVESTORS

Form 990 for tax year 2023

Filed by FIRST GENERATION INVESTORS.

Totals

Total revenue
$358,975
Total expenses
$297,937
Contributions and grants received
$346,407
Grants paid
$0
Program service revenue
$0
Investment income
$12,568
Other revenue
$0
Total assets, end of year
$355,038
Total liabilities, end of year
$13,113
Net assets or fund balances, end of year
$341,925
Program services expenses (Part IX)
$177,095
Management and general expenses
$120,842
Fundraising expenses
$0
Program service expenses (Part III)
$177,095

Program services were 59.4% 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

    $346,407

  • 1g · Noncash contributions included above

    $9,622

  • 3 · Investment income

    total $2,396 · excluded $2,396

  • 7a · Gross sales of assets other than inventory

    securities $11,750

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

    securities $1,578

  • 7c · Gain or loss

    securities $10,172

  • 7d · Net gain or loss

    total $10,172 · excluded $10,172

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $115,521 · program services $57,761 · management and general $57,760

  • 7 · Other salaries and wages

    total $89,267 · program services $89,267

  • 10 · Payroll taxes

    total $16,361 · program services $11,860 · management and general $4,501

  • 11b · Fees: legal

    total $30,698 · management and general $30,698

  • 11c · Fees: accounting

    total $8,350 · management and general $8,350

  • 11g · Fees: other

    total $5,173 · management and general $5,173

  • 12 · Advertising and promotion

    total $6,798 · program services $5,520 · management and general $1,278

  • 13 · Office expenses

    total $20,316 · program services $8,982 · management and general $11,334

  • 17 · Travel

    total $1,949 · program services $1,907 · management and general $42

  • 23 · Insurance

    total $1,706 · management and general $1,706

  • 24a · Other expenses: STUDENT ACCOUNTS

    total $1,798 · program services $1,798

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $187,490 · end of year $184,402

  • 2 · Savings and temporary cash investments

    beginning of year $24,126 · end of year $270

  • 13 · Investments: program-related

    beginning of year $83,453 · end of year $170,366

  • 25 · Other liabilities

    beginning of year $0 · end of year $13,113

  • 27 · Net assets without donor restrictions

    beginning of year $277,930 · end of year $339,824

  • 28 · Net assets with donor restrictions

    beginning of year $17,139 · end of year $2,101

Mission and programs · 2023

Mission

FIRST GENERATION INVESTORS (FGI) IS A NON-PROFIT 501(C)(3) ORGANIZATION THAT TEACHES HIGH SCHOOL STUDENTS THE POWER OF INVESTING AND BRINGS CLASSROOM LESSONS TO LIFE BY PROVIDING STUDENTS WITH REAL MONEY TO INVEST.

Activities or mission (Part I)

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

  • FGI PROVIDES AN 8 LESSON COURSE FOR HIGH SCHOOL STUDENTS BY ALIGNING WITH HIGH SCHOOLS AND SCHOOL DISTRICTS. THE PROGRAM IS FACILITATED BY TUTORS AT LOCAL COLLEGES AND UNIVERSITIES OR TEACHERS. STUDENTS WHO COMPLETE THE PROGRAM AND PARTICIPATE IN THE CAPSTONE PROJECT WILL RECEIVE $100 TO INVEST IN A SELECT GROUP OF INVESTMENT FUNDS IDENTIFIED BY FGI. A PARTICIPANT'S INVESTMENT IS HELD IN FGI'S INVESTMENT ACCOUNT UNTIL SUCH PARTICIPANT SATISFIES THE FOLLOWING CRITERIA (1) SUCH PARTICIPANT HAS GRADUATED HIGH SCHOOL, AND (2) SUCH PARTICIPANT HAS REACHED THE AGE OF 18. ONCE THESE CRITERIA ARE MET, THE CURRENT VALUE OF THEIR INITIAL INVESTMENT, AS REFLECTED IN FGI'S INVESTMENT ACCOUNT, SHALL BE TRANSFERRED TO AN INVESTMENT ACCOUNT IN SUCH PARTICIPANT'S NAME DESIGNATED IN WRITING BY SUCH PARTICIPANT.

    Expenses $177,095

As filed on the 2023 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
    5

  • Joseph Kakkis

    TREASURER

    Total calculated
    $0
    Hours/week
    3

  • Paul Germain

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Stephanie Pressley

    EXECUTIVE DIRECTOR

    Total calculated
    $115,521
    From this org
    $115,521
    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
2023
Filed
7 November 2024
IRS schema version
2023v5.1
Source object
202433139349300008

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