First Generation Investors
- Assets
- $295.1k
- Revenue
- $206.5k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- Data as of
- 12/2022
- EIN
- 84-3859483
Organization Overview
First Generation Investors is located in New York, NY. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2022, First Generation Investors employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Generation Investors 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 12/2022, First Generation Investors generated $206.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 52.0% each year . All expenses for the organization totaled $187.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO TEACH THE POWER OF INVESTING TO HIGH SCHOOL STUDENTS IN UNDERSERVED COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dylan Ingerman Co-Chairman | OfficerTrustee | 10 | $0 |
Cole Mattox Co-Chairman | OfficerTrustee | 6 | $0 |
Blake Kernan Secretary | OfficerTrustee | 1 | $0 |
Alex Ingerman Director | Trustee | 2 | $0 |
Joseph Kakkis Treasurer | OfficerTrustee | 3 | $0 |
Stephanie Pressley Executive Director | Officer | 40 | $87,365 |
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 | $192,739 |
| Noncash contributions included in lines 1a–1f | $13,989 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $192,739 |
| Total Program Service Revenue | $0 |
| Investment income | $1,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,607 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $206,455 |
| 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. | $86,183 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,683 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,346 |
| Fees for services: Management | $9,991 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,260 |
| Advertising and promotion | $8,487 |
| Office expenses | $11,726 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,588 |
| All other expenses | $7,841 |
| Total functional expenses | $187,105 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,490 |
| Savings and temporary cash investments | $24,126 |
| 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 | $83,453 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $295,069 |
| 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 | $277,930 |
| Net assets with donor restrictions | $17,139 |
| 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 | $295,069 |