New Generation Foundation Inc
- Assets
- $1.5b
- Revenue
- $12.0m
- Investments
- $1.5b
- Employees
- 5
- Location
- Las Vegas, NV
- Founding
- Data as of
- 12/2022
- EIN
- 36-4957734
Organization Overview
New Generation Foundation Inc is located in Las Vegas, NV. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, New Generation Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Generation Foundation Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, New Generation Foundation Inc generated $12.0m in total revenue. All expenses for the organization totaled $7.8m during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FUNDING TO SUPPORT THE MISSION AND ACTIVITIES OF THE AUTONOMOUS EDUCATIONAL ORGANIZATIONS, "NAZARBAYEV UNIVERSITY AND "NAZARBAYEV INTELLECTUAL SCHOOLS," EACH A NOT-FOR-PROFIT ENTITY LOCATED IN THE REPUBLIC OF KAZAKHSTAN, AND THEIR AFFILIATED ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, THE FOUNDATION CONTINUED TO SET UP THE APPROPRIATE STRUCTURE NEEDED TO SUPPORT ALL THE FUTURE EDUCATIONAL AND OTHER RELATED ACTIVITIES AND ALSO DISTRIBUTED FUNDS TO EDUCATIONAL ORGANIZATIONS IN KAZAKHSTAN IN FURTHERANCE OF ITS MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M Ron Wahid Jhllc Manager, Chair And CEO | Officer | 40 | $325,000 |
Aidos Bekturganov Executive Director And Manager (jlhllc) | Officer | 40 | $268,250 |
Amitabha Mukherjee Director, Exec Dir (thru Dec 2022) | OfficerTrustee | 40 | $152,065 |
Joel Mccleary Director | Trustee | 30 | $58,104 |
Mark Medish Director (thru Oct 2022) | Trustee | 15 | $33,439 |
Nuraly Bekturganov Director | Trustee | 30 | $24,356 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Faegre Drinker Biddle & Reath Llp Legal Services | 12/30/22 | $2,000,000 |
Willki E Farr & Gallagher Llp Legal Services | 12/30/22 | $1,500,000 |
Boies Schiller Flexner Llp Legal Services | 12/30/22 | $670,189 |
Drl Legal Llc Legal Services | 12/30/22 | $272,000 |
Marcum Llp Accounting Services | 12/30/22 | $208,301 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $12,024,673 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,025,273 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,462,225 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $745,270 |
| Compensation of current officers, directors, key employees. | $745,270 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,270 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,830 |
| Payroll taxes | $52,014 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,853,526 |
| Fees for services: Accounting | $197,513 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,045,716 |
| Advertising and promotion | $0 |
| Office expenses | $7,662 |
| Information technology | $88,706 |
| Royalties | $0 |
| Occupancy | $40,305 |
| Travel | $56,590 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,275 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,056 |
| Insurance | $99,816 |
| All other expenses | $4,505 |
| Total functional expenses | $7,755,279 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,051,679 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,302,582 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $99,415 |
| Net Land, buildings, and equipment | $8,444 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,478,380,698 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,273,099 |
| Total assets | $1,489,115,917 |
| Accounts payable and accrued expenses | $260,665 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $260,665 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,488,855,252 |
| Total liabilities and net assets/fund balances | $1,489,115,917 |