First Generation Investors
- Assets
- $285.6k
- Revenue
- $222.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Summit, NJ
- Founding
- Data as of
- 12/2021
- EIN
- 84-3859483
Organization Overview
First Generation Investors is located in Summit, NJ. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. 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 12/2021, First Generation Investors generated $222.3k in total revenue. All expenses for the organization totaled $16.9k during the year ending 12/2021. While expenses have increased by 89.7% per year over the past 2 years. They've been increasing with an increasing level of total revenue. 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
2021
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
THE ORGANIZATION TAUGHT 428 STUDENTS IN 2021, WHO EARNED $39,452 TO INVEST. FGI INVESTED $19,252 IN 2021 - THE REST OF THE FUNDS WERE INVESTED IN 2022 DUE TO TIMING. WHILE FGI GRADUATES RECEIVED FUNDS FROM FGI'S BROKERAGE PARTNER, PUBLIC.COM, FGI DID NOT RECEIVE AN INVOICE TO REIMBURSE PUBLIC.COM IN 2021. FOR THIS REASON, FGI DID NOT MAKE ANY PAYMENTS FOR STUDENT ACCOUNTS IN 2021.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dylan Ingerman President | OfficerTrustee | 30 | $0 |
Blake Kernan Secretary | OfficerTrustee | 5 | $0 |
Cole Mattox Vice President | OfficerTrustee | 30 | $0 |
Alex Ingerman Director | Trustee | 10 | $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 | $222,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $222,043 |
| Total Program Service Revenue | $0 |
| Investment income | $270 |
| 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 | $222,313 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $8,538 |
| Fees for services: Legal | $289 |
| Fees for services: Accounting | $2,590 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75 |
| Advertising and promotion | $2,428 |
| Office expenses | $2,947 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $16,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,896 |
| Savings and temporary cash investments | $4,275 |
| 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 | $37,405 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $285,576 |
| 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 | $108,422 |
| Net assets with donor restrictions | $177,154 |
| 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 | $285,576 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that First Generation Investors has recieved totaling $39,293.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $11,193 |
Select Equity Group Foundation New York, NY PURPOSE: DISCRETIONARY | $10,000 |
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $7,500 |
Livingston Mather Charitable Tr Cleveland, OH PURPOSE: FOR GENERAL OPERATING EXPENSES | $5,000 |
The@thomas And Tracey Gravina Foundation Haverford, PA PURPOSE: CHARITABLE | $3,450 |
Angelakis Charitable Foundation Bryn Mawr, PA PURPOSE: OPERATIONAL SUPPORT | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consumer Credit Counseling Service Of Delaware Valley Philadelphia, PA | $4,817,961 | $4,855,910 |
Hebrew Free Loan Society Inc New York, NY | $39,139,675 | $5,814,730 |
Consumer Credit And Budget Counseling Inc Marmora, NJ | $1,261,705 | $3,720,720 |
Consumers Credit Counseling Service Of Rochester Inc Rochester, NY | $7,908,723 | $3,468,563 |
Start Small Think Big Inc New York, NY | $5,478,531 | $5,454,234 |
Money Management New York, NY | $8,835,712 | $4,309,180 |
Advantage Credit Counseling Service Inc Pittsburgh, PA | $1,986,787 | $1,981,242 |
Intl Federation Of Red Cross And Red Crescent Soc At The U N Inc New York, NY | $144,561 | $1,804,361 |
Parachute Credit Counseling Inc West Seneca, NY | $1,575,678 | $1,698,417 |
Dfree Global Foundation Inc Somerset, NJ | $276,547 | $1,210,274 |
Safeguard Credit Counseling Services Inc Northport, NY | $4,600,765 | $1,433,533 |
Grow Brooklyn Inc Brooklyn, NY | $930,864 | $1,128,015 |