First Generation Investors
Nonprofit profile at a glance
- EIN
- 843859483
- IRS 990 coverage
- 2021–2024
- Forms available
- Form 990 2024, Form 990-EZ 2020, Form 990-N 2019
- Location
- New York, NY, USA
- Phone
- 6462593243
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Financial Counseling
Reported finances
- Revenue
- $600,174
- Expenses
- $506,720
- Assets
- $541,304
- Liabilities
- $309,847
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- STEPHANIE PRESSLEY (EXECUTIVE DIRECTOR)
- DYLAN INGERMAN (PRESIDENT & CO-CHAIRMAN)
Highest reported compensation
- STEPHANIE PRESSLEY (EXECUTIVE DIRECTOR): $121,212 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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.
What it reported doing in 2024
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.
Operating model
- Revenue model
- Donor-supported. 100% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 51
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 50
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 47.5%; rating input score 47
- Program expense ratio: 56.2%; rating input score 56
- Fundraising efficiency: $17.73 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 15.6%; rating input score 71; 71st percentile among comparable filings
- Total-asset coverage ratio: 1.07; rating input score 45; 45th percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 23.9%; rating input score 11; 11th percentile among comparable filings
Growth
- Program expense growth: 62.1% per year; rating input score 100; 97th percentile among comparable filings
- Revenue growth: 42.1% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: 32.6% per year; rating input score 100; 92nd percentile among comparable filings
Details
- Where the money goes: 47.5% of revenue deployed · 56.2% of spending went to programs
- Governance: 4 of 4 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $285K in reported program spending
- Leadership: top reported pay $121K · 7 people listed
- Consistency: 27 of 27 current checks pass
- Schedules: 6 filed schedules · includes major donors
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
- Review — Financial Efficiency: Program expense ratio scored 56/100.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- Review — Financial Efficiency: Fundraising efficiency scored 55/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
- High — Sustainability: Officer compensation ratio scored 11/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.