The Gen Next Foundation Inc

Nonprofit profile at a glance

EIN
271276227
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Irvine, CA, USA
Phone
8777704698
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Economics

Official website

Reported finances

Revenue
$258,246
Expenses
$492,141
Assets
$138,086
Liabilities
$24,644

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

Leadership & pay

10 people listed

Executive titles in this filing

  • WADE LAIRSEN (PRESIDENT)
  • MICHAEL DAVIDSON (CEO)

Highest reported compensation

  • MICHAEL DAVIDSON (CEO): $40,000 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 create opportunities and confront challenges facing future generations in the areas of economic opportunity, education, and global security.

What it reported doing in 2024

The venture philanthropy platform supports, informs, and aligns private sector leaders, and ngos in a venture philanthropy model to ensure our ventures have the greatest impact.

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 91% 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.

The verdict

STRONG - 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: 85
  • Transparency & Controls: 94
  • Accountability: 69
  • Sustainability: 11
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -90.6%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 8.1%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 16.6% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 3.1% per year; rating input score 100; 39th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.9% of spending went to programs
  • Governance: 8 of 8 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $437K in reported program spending
  • Leadership: top reported pay $40K · 10 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.