Gen Next Foundation
- Assets
- $7.2m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Irvine, CA
- Founding
- 12/2010
- Data as of
- 12/2021
- EIN
- 27-1276227
Organization Overview
Gen Next Foundation is located in Irvine, CA. The organization was established in 2010. According to its NTEE Classification (V22) the organization is classified as: Economics, under the broad grouping of Social Science and related organizations. As of 12/2021, Gen Next Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gen Next Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Gen Next Foundation generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 12.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE OPPORTUNITIES FOR AND CONFRONT CHALLENGES FACING FUTURE GENERATIONS IN THE AREAS OF ECONOMIC OPPORTUNITY, EDUCATION, AND GLOBAL SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VENTURE PHILANTHROPY PLATFORM SUPPORTS AND ALIGNS PRIVATE SECTOR LEADERS, GOVERNMENT OFFICIALS, AND NGOS IN A VENTURE PHILANTHROPY MODEL TO ENSURE OUR VENTURES HAVE THE GREATEST IMPACT.
WORKED WITH STRATEGIC PARTNERS TO FURTHER THE STATED MISSION OF THE GEN NEXT FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wade Lairsen President | Officer | 40 | $195,000 |
Dj Burke Secretary/director | OfficerTrustee | 1 | $0 |
Paul Makarechian Chairman | OfficerTrustee | 1 | $0 |
Todd Rustman Treasurer/director | OfficerTrustee | 1 | $0 |
Michael Davidson CEO | Officer | 25 | $0 |
Brian Ferguson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Emissary Relations Llc Public Affairs | 12/30/18 | $154,197 |
Adnan Kifayat Director Of Global Security Initiatives | 12/30/18 | $168,000 |
Future Back Inc Management Services | 12/30/18 | $106,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $46,005 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,443,138 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,489,143 |
| Total Program Service Revenue | $0 |
| Investment income | $23,962 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,543,430 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $195,000 |
| Compensation of current officers, directors, key employees. | $19,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $413,861 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $19,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,807 |
| Fees for services: Accounting | $3,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $316,754 |
| Advertising and promotion | $0 |
| Office expenses | $3,185 |
| Information technology | $6,836 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,556 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,727 |
| Insurance | $0 |
| All other expenses | $369,049 |
| Total functional expenses | $1,446,313 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,004 |
| Savings and temporary cash investments | $6,964,758 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $150,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,200,762 |
| Accounts payable and accrued expenses | $4,725 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,725 |
| Net assets without donor restrictions | $7,196,037 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,200,762 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Gen Next Foundation has recieved totaling $176,423.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $100,000 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $76,201 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $222 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gen Next Foundation Irvine, CA | $7,200,762 | $1,543,430 |
Western Economic Association International Fountain Valley, CA | $4,326,194 | $1,077,738 |
Radicalxchange Foundation Ltd Moraga, CA | $882,243 | $1,183,620 |
California Council On Economic Education Torrance, CA | $1,530,947 | $522,024 |
International Foundation For Research In Experimental Economiic Tucson, AZ | $0 | $15,455 |
Thomas R Brown Foundation Tucson, AZ | $2,505,392 | $2,045,037 |
Polish American Foundation For Econ Omic Research & Education Torrance, CA | $6,908 | $141,600 |
Institute For Sustainability Education And Ecology Eugene, OR | $137,428 | $0 |
Hawaii Council On Economic Education Honolulu, HI | $15,212 | $0 |
Horizon Institute Mammoth Lakes, CA | $0 | $0 |
Sfecon Chico, CA | $151 | $0 |
Technet Foundation Inc Santa Clara, CA | $0 | $0 |