Nu Generation Foundation INC FY2022 filing

Las Vegas, NVUnknown exempt organizationEIN 36-4957734Revenue $12.0M in FY2022

On file with the IRS1810 E Sahara Ave 587 · Las Vegas, NV

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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 affiliated organizations.

32¢ of each $1 spent went to programs.
$861K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $245.4M a year · 96% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
32%
of spending
Concern: 32% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$861K
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 9.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$261K
0.02% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.0M
-36% vs prior year
Spent
$7.8M
To programs
32%
Net assets
$1.5B
By yearFY2020–FY2024
Revenue
$12.0M
FY2022▼ -36%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2B
FY2021$18.7M
FY2022$12.0M
FY2023$20.9M
FY2024$116K
Expenses
$7.8M
FY2022▼ -38%
Tap a bar for its year
Expenses by fiscal year
FY2020$25
FY2021$12.5M
FY2022$7.8M
FY2023$4.5M
FY2024$30.8M
Net assets
$1.5B
FY2022▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6B
FY2021$1.5B
FY2022$1.5B
FY2023$30.7M
FY2024$0

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

32 cents of each dollar spent went to programs.

Program services 32% · $2.5M Management & general 68% · $5.3M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $861K paid to officers and key staff.

Part VII, Section A · reportable compensation
Jhllc Manager, Chair and CEO
$325,000Pt VII · Sec A
Executive Director and Manager (jlhllc)
$268,250Pt VII · Sec A
Director, Exec Dir (thru Dec 2022)
$152,065Pt VII · Sec A
$58,104Pt VII · Sec A
Director (thru Oct 2022)
$33,439Pt VII · Sec A
$24,356Pt VII · Sec A
Executive Director (thru Feb 2022)
$0Pt VII · Sec A
Chairman and Director (thru Aug 2022)
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022
Joel McCleary$877,500$337,500$58,104
Nuraly Bekturganov$780,000$314,838$24,356
Robert F Armao$780,000$300,000—
M Ron Wahid—$500,000$325,000
Aidos Bekturganov—$300,000$268,250
Ganbat Chuluunkhuu$156,000——
Amitabha Mukherjee——$152,065
Mark Medish——$33,439

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Funds educational institutions and their related groups in Kazakhstan.

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Provided by the organization

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1 program · $2.5M · in their own filed words · FY2022
01

In 2022, the foundation continued to set up the appropriate structure needed to support all the future educational and other related activities and also distributed funds to educational organizations in kazakhstan in furtherance of its mission.

$2.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $27.9M · 2024–2024
Ngf Nevada TrustFY2024$27,928,474

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$12.0M
Ln 12
Investment incomeLn 3$12.0M
Other incomeLn 4–11$600
Money outPt IX
$7.8M
Ln 25
Programscol B$2.5M
Managementcol C$5.3M
Owns and owesPt X
$1.5B
net assets · Ln 32
Cash and savingsLn 1–2$6.1M
Total assetsLn 16$1.5B
LiabilitiesLn 26$261K
PeoplePt VI, VII
12
listed · VII A
PaidVII A6
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$12.0M
Other incomeLn 4–11$600
Total revenueLn 12$12.0M
Assets in detailPt X, end of year
CashLn 1$6.1M
Cash and savings togetherLn 1–2$6.1M
InvestmentsLn 11–13$1.48B
Land, buildings, equipmentLn 10c$8K
Other assetsLn 15$2.3M
Total assetsLn 16$1.5B
LiabilitiesLn 26$261K
Net assetsLn 32$1.5B
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$6.2M$6.1M
InvestmentsLn 11–13$1.45B$1.48B
Land, buildings, equipmentLn 10c$0$8K
Total assetsLn 16$1.45B$1.49B
LiabilitiesLn 26$1K$261K
Net assetsLn 32$1.45B$1.49B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$2.5M$2.5M
Pay of current officers, directors and key staffLn 5$745K$745K
Other salaries and wagesLn 7$77K$77K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$52K$52K
Legal feesLn 11b$2.9M$2.9M
Accounting feesLn 11c$198K$198K
Other fees for servicesLn 11g$1.0M$1.0M
Office expensesLn 13$8K$8K
Information technologyLn 14$89K$89K
OccupancyLn 16$40K$40K
TravelLn 17$57K$57K
Conferences, conventions and meetingsLn 19$21K$21K
Depreciation, depletion and amortizationLn 22$1K$1K
InsuranceLn 23$100K$100K
Other expenses (24a–d)Ln 24$5K$5K
Total functional expensesLn 25$7.8M$2.5M$5.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $116K$30.8M−$30.7M$0 990 PDF
FY2023 $20.9M$4.5M$16.4M$30.7M 990 PDF
FY2022 Viewing $12.0M$7.8M$4.3M$1.5B 990 PDF
FY2021 $18.7M$12.5M$6.2M$1.5B 990 PDF
FY2020 $1.2B$25$1.2B$1.6B 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $12,025,273 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,800,000$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $12,900,340$12,024,673
I-11 Other revenuePrior year $0$600
I-12 Total revenuePrior year $18,700,340$12,025,273
I-13 Grants and similar amounts paidPrior year $11,900,000$2,462,225
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$876,384
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $594,586$4,416,670
I-18 Total expensesPrior year $12,494,586$7,755,279
I-19 Revenue less expensesPrior year $6,205,754$4,269,994
Part VI · Governance 3 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $12,025,273 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $12,024,673$12,024,673
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $600$600
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $12,025,273$12,025,273
Part IX · Statement of functional expenses $7,755,279 across 16 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $2,462,225$2,462,225
IX-5 Pay of current officers, directors and key staffManagement $745,270$745,270
IX-7 Other salaries and wagesManagement $77,270$77,270
IX-9 Other employee benefitsManagement $1,830$1,830
IX-10 Payroll taxesManagement $52,014$52,014
IX-11b Legal feesManagement $2,853,526$2,853,526
IX-11c Accounting feesManagement $197,513$197,513
IX-11g Other fees for servicesManagement $1,045,716$1,045,716
IX-13 Office expensesManagement $7,662$7,662
IX-14 Information technologyManagement $88,706$88,706
IX-16 OccupancyManagement $40,305$40,305
IX-17 TravelManagement $56,590$56,590
IX-19 Conferences, conventions and meetingsManagement $21,275$21,275
IX-22 Depreciation, depletion and amortizationManagement $1,056$1,056
IX-23 InsuranceManagement $99,816$99,816
IX-24 Other expenses (24a–d)Management $4,505$4,505
IX-25 Total functional expensesPrograms $2,462,225 · Management $5,293,054 · Fundraising $0$7,755,279
Part X · Balance sheet $1,489,115,917 assets, 10 lines filed
Asset lines not itemized here account for $2,302,582; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $6,206,331$6,051,679
X-9 Prepaid expenses and deferred chargesStart of year $624$99,415
X-10c Land, buildings and equipment, netStart of year $0$8,444
X-12 Other securitiesStart of year $1,446,818,745$1,478,380,698
X-15 Other assetsStart of year $0$2,273,099
X-16 Total assetsStart of year $1,453,025,700$1,489,115,917
X-17 Accounts payable and accrued expensesStart of year $1,490$260,665
X-26 Total liabilitiesStart of year $1,490$260,665
X-32 Total net assets or fund balancesStart of year $1,453,024,210$1,488,855,252
X-33 Total liabilities and net assetsStart of year $1,453,025,700$1,489,115,917
Part XI · Reconciliation of net assets $1,488,855,252 net assets at year end
XI-1 Total revenue$12,025,273
XI-2 Total expenses$7,755,279
XI-3 Revenue less expenses$4,269,994
XI-4 Net assets at start of year$1,453,024,210
XI-5 Net unrealized gains (losses) on investments$31,561,048
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,488,855,252

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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