2025-11-12T11:30:42-05:00 2024-12-31 161400310 C&A Accounting Associates PC 114 Kreischer Rd Suite 6A Syracuse NY 13212 990 2024-01-01 843859483 FIRST GENERATION INVESTORS % ALEX INGERMAN FIRS 6462593243 48 WALL STREET SUITE 1100 NEW YORK NY 10005 ALEX INGERMAN BOARD DIRECTORTREASURER 3154525760 2025-11-11 true true ETHAN DOLCE P03265412 3154525760 2025-11-12 2024 2025-03-06 01:10:19Z ALEX INGERMAN 48 WALL STREET SUITE 1100 NEW YORK NY 10005 600174 false X FIRSTGENERATIONINVESTORS.COM X 2019 PA FIRST GENERATION INVESTORS (FGI) IS A NON-PROFIT 501(C)3 ORGANIZATION THAT EMPOWERS YOUNG PEOPLE WITH THE KNOWLEDGE AND CONFIDENCE TO BUILD LONG-TERM FINANCIAL SECURITY AND PROSPERITY. 4 4 3 400 0 0 346407 600174 0 12568 0 0 358975 600174 0 0 221149 209782 0 33856 76788 296938 297937 506720 61038 93454 355038 541304 13113 309847 341925 231457 FIRST GENERATION INVESTORS (FGI) IS A NON-PROFIT 501(C)3 ORGANIZATION THAT EMPOWERS YOUNG PEOPLE WITH THE KNOWLEDGE AND CONFIDENCE TO BUILD LONG-TERM FINANCIAL SECURITY AND PROSPERITY. false false 284996 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 PARTICIPANTS INVESTMENT IS HELD IN FGIS 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 FGIS INVESTMENT ACCOUNT, SHALL BE TRANSFERRED TO AN INVESTMENT ACCOUNT IN SUCH PARTICIPANTS NAME DESIGNATED IN WRITING BY SUCH PARTICIPANT. 284996 true true false false false false false false false false false false true false true true false false false false false false false false true false false false false false false false false false false false false false true false false false false false false false false true 0 0 3 true false false false false true true false false false X 4 4 true false true false false false false true false false false true true true true true true true false false AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY X THE ORGANIZATION 6462593243 48 WALL STREET SUITE 1100 NEW YORK NY 10005 X STEPHANIE PRESSLEY EXECUTIVE DIRECTOR 40.00 0.00 X 121212 0 0 ALEX INGERMAN DIRECTOR & TREASURER 10.00 0.00 X X 0 0 0 DYLAN INGERMAN PRESIDENT & CO-CHAIRMAN 10.00 0.00 X X 0 0 0 COLE MATTOX VP CO-CHAIRMAN & SECRETARY 6.00 0.00 X X 0 0 0 PAUL GERMAIN DIRECTOR 3.00 0.00 X 0 0 0 BLAKE KERNEN DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH KAKKIS DIRECTOR 3.00 0.00 X 0 0 0 121212 0 0 1 false false false 75050 525124 37984 600174 75050 0 600174 0 0 0 121212 60606 60606 76634 76634 11936 8408 3528 11376 11376 18524 18524 33307 6428 26879 12083 95 11988 13147 2099 11048 3487 94 3393 32371 32371 5551 5551 PRO BONO SERVICES RECEIVED 28904 28904 STUDENT ACCOUNTS 112400 112400 TUTOR AND TUTEE TRANSPORT 7179 7179 TUTOR BACKGROUND CHECKS 6963 6963 11646 4090 6071 1485 506720 284996 187868 33856 184402 206078 270 19520 37000 170366 278706 355038 541304 13113 309847 13113 309847 X 339824 229356 2101 2101 341925 231457 355038 541304 X 93454 -203922 X true X false false false X 58766 222043 192739 346407 600174 1420129 58766 222043 192739 346407 600174 1420129 513959 906170 270 1109 2396 3775 1423904 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED INVESTMENTS STUDENT ACCOUNTS 278706 F 278706 CREDIT CARD PAYABLE 5585 ACCRUED PAYROLL WAGES 2947 ACCRUED PAYROLL TAXES 3089 STUDENT ACCOUNTS PAYABLE 298226 309847 X Part X, Line 2-Text in footnote regarding FIN 48 (ASC 740) THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATIONS TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE TAX YEAR ENDED DECEMBER 31, 2024. THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS US GAAP REQUIRES TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50 LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ORGANIZATIONS PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITSEXEMPT PURPOSE. MANAGEMENT HAS EVALUATED THE TAX POSITIONS REFLECTED IN THE ORGANIZATIONS TAX FILING AND DOES NOT BELIEVE ANY MATERIAL UNCERTAINTAX POSITIONS EXIST AS OF DECEMBER 31, 2024. CONFERENCE 75050 75050 75050 75050 75050 General Explanation Attachment LIST ALL STATES IN WHICH THE ORGANIZATION IS REGISTERED OR LICENSED TO SOLICIT FUNDS, OR IS EXEMPT FROM REGISTERING OR LICENSING:AK, AL, AR, CA, CO, CT, DC, FL, GA, HI, IL, KS, KY, MA, MD, ME, MI, MN, MS, NC, ND, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, UT, VA, WI, WV X 9080 FMV X PROFESSIONAL SERVICES 28904 FMV false false false Officer directors etc family relationship Part VI line 2 DYLAN AND ALEX INGERMAN ARE SIBLINGS. DYLAN INGERMAN AND COLE MATTOX HAVE A BUSINESS RELATIONSHIP. Organizational document changes Part VI line 4 AMENDED BYLAWS: BYLAWS WERE UPDATED TO ALLOW FOR EMERITUS DIRECTORS. MISSION STATEMENT ADJUSTMENT: DURING THE TAX YEAR, THE ORGANIZATION UPDATED ITS MISSION STATEMENT TO MORE ACCURATELY REFLECT ITS CURRENT PROGRAMS AND OBJECTIVES. THE NEW MISSION STATEMENT IS AS FOLLOWS - FIRST GENERATION INVESTORS (FGI) IS A NON-PROFIT 501(C)3 ORGANIZATION THAT EMPOWERS YOUNG PEOPLE WITH THE KNOWLEDGE AND CONFIDENCE TO BUILD LONG-TERM FINANCIAL SECURITY AND PROSPERITY. Committee meeting documentation Part VI line 8b THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. Form 990 governing body review Part VI line 11 A BOARD MEETING REQUIRING PARTICIPATION OF ALL MEMBERS IS HELD PRIOR TO FILING TO REVIEW A FINAL DRAFT OF THE 990. THIS DRAFT IS SENT TO ALL MEMBERS VIA EMAIL TO ALL MEMBERS PRIOR TO THE MEETING. ANY REVISIONS OR CORRECTIONS TO THE 990 ARE NOTED AT THE MEETING, AND A FINAL COPY IS SENT TO ALL MEMBERS PRIOR TO FILING. Conflict of interest policy compliance Part VI line 12c IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF ANY CONTROLLING INTEREST, FINANCIAL INTEREST, OWNERSHIP INTEREST, OR SIGNIFICANT RELATIONSHIP AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD AND COMMITTEE MEMBERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. IN CONNECTION WITH ANY PROPOSED TRANSACTION OR ARRANGEMENT WITH AN ORGANIZATION THAT IS UNDER CONSIDERATION BY FGI IN WHICH AN INTERESTED PERSON HAS A CONTROLLING INTEREST, FINANCIAL INTEREST, OWNERSHIP INTEREST, OR SIGNIFICANT RELATIONSHIP, THE BOARD OR COMMITTEE CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT (WITHOUT THE INTERESTED PERSON) SHALL MEET, DISCUSS, AND VOTE UPON WHETHER A CONFLICT OF INTEREST EXISTS. THE INTERESTED PERSON SHALL BE GIVEN THE OPPORTUNITY TO DISCLOSE ANY ADDITIONAL MATERIAL FACTS RELATED TO HIS OR HER CONTROLLING INTEREST, FINANCIAL INTEREST, OWNERSHIP INTEREST, OR SIGNIFICANT RELATIONSHIP AND THE PROPOSED TRANSACTION OR ARRANGEMENT, EITHER IN WRITING, OR BY INVITATION, AT THE BOARD OR COMMITTEE MEETING DURING WHICH THE POTENTIAL CONFLICT OF INTEREST IS BEING CONSIDERED. IF THE BOARD OR COMMITTEE MEMBERS DETERMINE A CONFLICT OF INTEREST EXISTS, THE FOLLOWING PROCEDURES WILL BE IMPLEMENTED: A. THE PRESIDENT OF THE BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. B. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER FGI CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. C. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE TRANSACTION OR ARRANGEMENT IS IN FGIS BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. AFTER THE BOARD OR COMMITTEE HAS COMPLETED ITS ANALYSIS, IT SHALL VOTE ON WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. APPROVAL SHALL BE BY MAJORITY VOTE OF DIRECTORS OR COMMITTEE MEMBERS WHO ARE FREE OF THE CONFLICT UNDER CONSIDERATION. THE FOLLOWING PROCEDURES GOVERN VIOLATIONS OF THIS POLICY: A. IF THE BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE AN INTERESTED PERSON HAS FAILED TO DISCLOSE A CONTROLLING INTEREST, FINANCIAL INTEREST, OWNERSHIP INTEREST, OR SIGNIFICANT RELATIONSHIP, IT SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. B. IF, AFTER HEARING THE INTERESTED PERSONS RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OR COMMITTEE DETERMINES THE INTERESTED PERSON HAS FAILED TO DISCLOSE A CONTROLLING INTEREST, FINANCIAL INTEREST, OWNERSHIP INTEREST, OR SIGNIFICANT RELATIONSHIP AS REQUIRED UNDER THIS POLICY, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. CEO executive director top management comp Part VI line 15a THE NONPROFIT THE FULL BOARD SHALL ANNUALLY EVALUATE THE EXECUTIVE DIRECTOR ON HIS/HER PERFORMANCE, AND ASK FOR HIS/HER INPUT ON MATTERS OF PERFORMANCE AND COMPENSATION. THE FULL BOARD WILL OBTAIN RESEARCH AND INFORMATION TO MAKE A RECOMMENDATION TO THE FULL BOARD FOR THE COMPENSATION (SALARY AND BENEFITS) OF THE EXECUTIVE DIRECTOR (AND OTHER HIGHLY COMPENSATED EMPLOYEES OR CONSULTANTS) BASED ON A REVIEW OF COMPARABILITY DATA. TO APPROVE THE COMPENSATION FOR THE EXECUTIVE DIRECTOR (AND OTHER HIGHLY COMPENSATED EMPLOYEES AND CONSULTANTS) THE BOARD MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED, IN MINUTES OF THE MEETING DURING WHICH THE COMPENSATION WAS APPROVED. Governing documents etc available to public Part VI line 19 OTHER WEBSITE (GUIDESTAR) ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE PUBLIC. Other or change in accounting method Part XII line 1 ACCRUAL BASIS IN ACCORDANCE WITH US GAAP. Explanation of other changes in net assets or fund balances Part XI line 9 NET ASSETS AT THE BEGINNING OF 2024 HAVE BEEN ADJUSTED TO CORRECT THE CHANGE FROM THE SPECIAL PURPOSE FRAMEWORK, TAX BASIS, TO US GAAP. THE CORRECTION HAS NO EFFECT ON THE CURRENT YEARS ACTIVITIES: HOWEVER, THE CUMULATIVE EFFECT OF THE ADJUSTMENT DECREASES BEGINNING NET ASSETS FOR 2024 BY $203,922. General explanation attachment THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATIONS TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THERE WAS NO UNRELATED BUSINESS INCOME FOR THE TAX YEAR ENDED DECEMBER 31, 2024. THEREFORE, NO PROVISION FOR INCOME TAXES IS REFLECTED IN THESE FINANCIAL STATEMENTS US GAAP REQUIRES TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ORGANIZATIONS PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. MANAGEMENT HAS EVALUATED THE TAX POSITIONS REFLECTED IN THE ORGANIZATIONS TAX FILING AND DOES NOT BELIEVE ANY MATERIAL UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2024. BLAKE KERNEN SERVED AS DIRECTOR AND SECRETARY UNTIL HER RESIGNATION ON 04/11/2024 JOSEPH KAKKIS SERVED AS DIRECTOR AND TREASURER UNTIL HIS RESIGNATION ON 12/06/2024