I Am Next INC

Tax-deductible

Nashville, TN501(c)(3)Foundations & GrantmakersEIN 83-2736099

To support at-risk and underserved populations in order to strengthen families and communities

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
2 of 5
filings with a surplus
Average surplus $829K a year · 50% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$18K
to officers and key staff · 1% of spending
Top officer’s pay lower than 84% of similar orgs
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
27 mo
of spending, in cash
Looks good: 26.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $23K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$594K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 11 voting members
Looks good: 8 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$952K
+34% vs prior year
Spent
$1.5M
To programs
66%
Net assets
$8.4M
By yearFY2020–FY2024
Revenue
$952K
FY2024▲ +34%
Revenue by fiscal year
FY2020$314K
FY2021$5.6M
FY2022$639K
FY2023$710K
FY2024$952K
Expenses
$1.5M
FY2024▲ +41%
Expenses by fiscal year
FY2020$84K
FY2021$501K
FY2022$883K
FY2023$1.1M
FY2024$1.5M
Net assets
$8.4M
FY2024▼ -6%
Net assets by fiscal year
FY2020$186K
FY2021$9.6M
FY2022$9.4M
FY2023$9.0M
FY2024$8.4M

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2019.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $1.0M Management & general 27% · $411K Fundraising 8% · $117K

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

Who runs it and what they're paid

11 people listed on the 990; $18K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chairman
$17,683Pt VII · Sec A
Past Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Page Walley’s $18K as Chairman is at the 16th percentile of top reported officer pay among 1265 $100K–1M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See I Am Next INC executive salaries →

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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 15aNo

Programs and updates

Strengthens families and communities by supporting at-risk and underserved populations.

Provided by the organization

This section is blank until I Am Next INC claims this page.

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1 program service account for $1.0M of program spending, described in the organization's own filed words · FY2024.
01

I am next is dedicated to leveling the playing field for young adults transitioning from foster care into successful adulthood. Our mission: to empower young adults aging out of the foster care system with the resources they need to achieve sustainable independence.

$1.0Mprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$23K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$952K
Ln 12
Gifts and grantsLn 1h$606K
Investment incomeLn 3$178K
Other incomeLn 4–11$168K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.0M
Managementcol C$411K
Fundraisingcol D$117K
Owns and owesPt X
$8.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.4M
Total assetsLn 16$9.0M
LiabilitiesLn 26$594K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$606K
Government grantsLn 1e$434K
Investment incomeLn 3$178K
Other incomeLn 4–11$168K
Total revenueLn 12$952K
Assets in detailPt X, end of year
CashLn 1$3.4M
Cash and savings togetherLn 1–2$3.4M
Land, buildings, equipmentLn 10c$5.3M
Total assetsLn 16$9.0M
LiabilitiesLn 26$594K
Net assetsLn 32$8.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$3.9M$3.4M
Land, buildings, equipmentLn 10c$5.5M$5.3M
Total assetsLn 16$9.6M$9.0M
LiabilitiesLn 26$602K$594K
Net assetsLn 32$9.0M$8.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$428K$216K$149K$63K
Other employee benefitsLn 9$32K$16K$11K$5K
Payroll taxesLn 10$36K$18K$12K$5K
Management feesLn 11a$36K$36K
Legal feesLn 11b$12K$12K
Accounting feesLn 11c$14K$14K
Advertising and promotionLn 12$31K$31K
Office expensesLn 13$2K$60$2K
Information technologyLn 14$57K$27K$26K$5K
OccupancyLn 16$443K$443K
TravelLn 17$13K$13K
InterestLn 20$37K$37K
Depreciation, depletion and amortizationLn 22$212K$212K
InsuranceLn 23$31K$16K$16K
Other expenses (24a–d)Ln 24$148K$25K$116K$7K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$1.5M$1.0M$411K$117K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $952K$1.5M−$585K$8.4M 990 PDF
FY2023 $710K$1.1M−$381K$9.0M 990 PDF
FY2022 $639K$883K−$243K$9.4M 990 PDF
FY2021 $5.6M$501K$5.1M$9.6M 990 PDF
FY2020 $314K$84K$230K$186K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $951,582 across 7 lines filed
VIII-1e Government grants$434,475
VIII-1f All other contributions, gifts and grants$171,907
VIII-1h Total contributions, gifts and grants$606,382
VIII-3 Investment incomeExcluded from tax $177,597$177,597
VIII-6 Net rental income or lossExcluded from tax $137,460$137,460
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $30,143$30,143
VIII-12 Total revenueRelated to mission $30,143 · Excluded from tax $315,057$951,582
Part IX · Statement of functional expenses $1,536,668 across 16 lines filed
IX-7 Other salaries and wagesPrograms $215,724 · Management $149,172 · Fundraising $63,399$428,295
IX-9 Other employee benefitsPrograms $16,083 · Management $11,122 · Fundraising $4,727$31,932
IX-10 Payroll taxesPrograms $18,027 · Management $12,465 · Fundraising $5,298$35,790
IX-11a Management feesManagement $35,936$35,936
IX-11b Legal feesManagement $11,784$11,784
IX-11c Accounting feesManagement $14,467$14,467
IX-12 Advertising and promotionFundraising $31,483$31,483
IX-13 Office expensesPrograms $60 · Management $1,508$1,568
IX-14 Information technologyPrograms $26,764 · Management $25,929 · Fundraising $4,717$57,410
IX-16 OccupancyPrograms $443,145$443,145
IX-17 TravelManagement $13,330$13,330
IX-20 InterestPrograms $36,705$36,705
IX-22 Depreciation, depletion and amortizationPrograms $212,167$212,167
IX-23 InsurancePrograms $15,627 · Management $15,628$31,255
IX-24 Other expenses (24a–d)Programs $24,774 · Management $115,855 · Fundraising $7,432$148,061
IX-24e All other expensesManagement $3,340$3,340
IX-25 Total functional expensesPrograms $1,009,076 · Management $410,536 · Fundraising $117,056$1,536,668
Part X · Balance sheet $9,014,928 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $3,926,574$3,427,741
X-3 Pledges and grants receivableStart of year $170,122$260,723
X-4 Accounts receivableStart of year $1,109$657
X-9 Prepaid expenses and deferred chargesStart of year $9,455$6,343
X-10c Land, buildings and equipment, netStart of year $5,500,649$5,319,464
X-16 Total assetsStart of year $9,607,909$9,014,928
X-17 Accounts payable and accrued expensesStart of year $35,716$41,663
X-25 Other liabilitiesStart of year $563,179$552,337
X-26 Total liabilitiesStart of year $601,895$594,000
X-27 Net assets without donor restrictionsStart of year $9,006,014$8,420,928
X-32 Total net assets or fund balancesStart of year $9,006,014$8,420,928
X-33 Total liabilities and net assetsStart of year $9,607,909$9,014,928
Part XI · Reconciliation of net assets $8,420,928 net assets at year end
XI-1 Total revenue$951,582
XI-2 Total expenses$1,536,668
XI-3 Revenue less expenses−$585,086
XI-4 Net assets at start of year$9,006,014
XI-10 Net assets at end of year$8,420,928

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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