New Generation Foundation Inc

Nonprofit profile at a glance

EIN
364957734
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
9179154287
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$116,471
Expenses
$30,824,521
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • AIDOS BEKTURGANOV (EXECUTIVE DIRECTOR AND MAN)
  • GANBAT CHULUUNKHUU (EXECUTIVE DIRECTOR, NGF NEVADA TRUST)

Highest reported compensation

  • JOEL MCCLEARY (CHAIR): $1,080,000 total reported compensation
  • NURALY BEKTURGANOV (SECRETARY): $960,000 total reported compensation
  • ROBERT F ARMAO (DIRECTOR): $960,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide funding to support the mission and activities of the autonomous educational organizations, "nazarbayev university and "nazarbayev intellectual schools," each a not-for-profit entity located in the republic of kazakhstan, and their organizations.

What it reported doing in 2024

In 2024, the foundation continued to set up the appropriate structure needed to support all the future educational and other related activities in furtherance of its mission. Effective february 29, 2024, new generation foundation inc created the ngf Nevada trust, as a liquidating trust within the meaning of treas reg section 301.7701-4(d), transferring all remaining assets to the trustees. New generation foundation inc's intent in establishing the trust is to create a structure to receive the funds and assets in connection with dissolution in order to resolve any outstanding valid claims, obligations, debts, and expenses and to provide for the charitable beneficiaries. The trust estate shall be held for such purposes and subsequently for the benefit of certain educational institutions and will be held, administered, and distributed as provided herein. New generation foundation inc intends that the trust will be taxed as a complex trust for income tax purposes and not as a "grantor trust" as defined by the internal revenue code of 1986, as amended, or any successor statute thereto (the "code").

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 77
  • Accountability: 82
  • Sustainability: 4
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.6%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -26,365.4%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 8.4%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 72.6% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -99.7% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -57.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $27.9M in reported program spending
  • Leadership: top reported pay $1.1M · 5 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $255K reported
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes grants and executive pay
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.