Nextgen Chamber Of Commerce Foundation
- Assets
- $183.0k
- Revenue
- $185.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 02/2019
- Data as of
- 12/2023
- EIN
- 82-4835903
Organization Overview
Nextgen Chamber Of Commerce Foundation is located in Washington, DC. The organization was established in 2019. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nextgen Chamber Of Commerce Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Nextgen Chamber Of Commerce Foundation generated $185.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 39.7% each year .
Since 2021, Nextgen Chamber Of Commerce Foundation has awarded 23 individual grants totaling $852,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE NEXTGEN CHAMBER OF COMMERCE FOUNDATION WORKS TO SHAPE THE ECONOMY OF THE FUTURE BY PROMOTING POLICY, INCLUSION, AND BUSINESS PRACTICE FOR A NEW GENERATION OF BUSINESS LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL PROGRAMS: NEXTGEN SUPPORTS RESEARCH STUDIES AND ECONOMIC PROJECTS TO EMPOWER A NEW GENERATION OF BUSINESS LEADERSHIP. THROUGH ITS WORK NEXTGEN UPLIFTS THE VOICES OF THE NEXT GENERATION IN PURSUIT OF BETTER CAPITALISM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rhett Buttle Founder And Treasurer | OfficerTrustee | 5 | $0 |
Adama Iwu Co-Chair | OfficerTrustee | 5 | $0 |
Roy K Lee Co-Chair | OfficerTrustee | 5 | $0 |
Aram Nadjarian Board Member | Trustee | 5 | $0 |
Casey Oakes Board Member | Trustee | 5 | $0 |
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 | $185,685 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $185,685 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $185,906 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,113 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,850 |
| Payroll taxes | $1,547 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $39,376 |
| Advertising and promotion | $763 |
| Office expenses | $217 |
| Information technology | $4,192 |
| Royalties | $0 |
| Occupancy | $1,200 |
| Travel | $764 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $150,828 |
| Total functional expenses | $265,850 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,045 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $183,045 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $183,045 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $183,045 |
Grants Awarded
Over the last fiscal year, Nextgen Chamber Of Commerce Foundation has awarded $317,500 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL ASSOCIATION OF EVANGELICALS PURPOSE: IDENTIFY & EDUCATE RELIGIOUS, SOCIAL GROUPS & BUSINESSES ABOUT THE VALUE OF THE EITC AND CTC | $32,500 |
CITYGATE NETWORK PURPOSE: IDENTIFY & EDUCATE RELIGIOUS, SOCIAL GROUPS & BUSINESSES ABOUT THE VALUE OF THE EITC AND CTC | $22,500 |
DOUGLASS LEADERSHIP INSTITUTE INC PURPOSE: IDENTIFY & EDUCATE RELIGIOUS, SOCIAL GROUPS & BUSINESSES ABOUT THE VALUE OF THE EITC AND CTC | $25,000 |
AMERICAN IDEA FOUNDATION PURPOSE: IDENTIFY & EDUCATE RELIGIOUS, SOCIAL GROUPS & BUSINESSES ABOUT THE VALUE OF THE EITC AND CTC | $24,000 |
THE CLAPHAM GROUP PURPOSE: IDENTIFY & EDUCATE RELIGIOUS, SOCIAL GROUPS & BUSINESSES ABOUT THE VALUE OF THE EITC AND CTC | $21,000 |
SMALL BUSINESS & ENTREPRENEURSHIP COUNCIL PURPOSE: IDENTIFY & EDUCATE RELIGIOUS, SOCIAL GROUPS & BUSINESSES ABOUT THE VALUE OF THE EITC AND CTC | $25,000 |