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NEW GENERATION FOUNDATION INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
NEW GENERATION FOUNDATION INC (EIN 36-4957734)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-11-17
IRS object ID
202543219349324089
Schema version
2024v5.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-11-17T17:59:28-06:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN130436940PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ANCHIN BLOCK & ANCHIN LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line13 TIMES SQUAREAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10036ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN364957734EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1NEW GENERATION FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlNEWGBusinessNameControlTxt
Phone9179154287PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11810 E SAHARA AVE 587AddressLine1Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89104ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonGANBAT CHULUUNKHUUPersonNm
Person TitleEXECUTIVE DIRECTOR, NGF NEVADA TRPersonTitleTxt
Phone9179154287PhoneNum
Signature2025-11-17SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (1)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonADAM RUBINFELDPreparerPersonNm
PTINP01542370PTIN
Phone2128403456PhoneNum
Preparation2025-11-17PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Final ReturnYes (X)FinalReturnInd
Principal OfficerJOEL MCCLEARYPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11810 E SAHARA AVE 587AddressLine1Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89104ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$5,625,313GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressN/AWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2019FormationYr
Legal Domicile StateNVLegalDomicileStateCd
Activity Or MissionTO 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.ActivityOrMissionDesc
Contract TerminationYes (X)ContractTerminationInd
Voting Members Governing Body3VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers0TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$20,874,456PYInvestmentIncomeAmt
CY Investment Income$116,471CYInvestmentIncomeAmt
PY Other Revenue$18,523PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$20,892,979PYTotalRevenueAmt
CY Total Revenue$116,471CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$27,928,474CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$1,918,252PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$2,593,500CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$2,576,728PYOtherExpensesAmt
CY Other Expenses$302,547CYOtherExpensesAmt
PY Total Expenses$4,494,980PYTotalExpensesAmt
CY Total Expenses$30,824,521CYTotalExpensesAmt
PY Revenues Less Expenses$16,397,999PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$30,708,050CYRevenuesLessExpensesAmt
Total Assets BOY$30,712,966TotalAssetsBOYAmt
Total Assets EOY$0TotalAssetsEOYAmt
Total Liabilities BOY$4,916TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$30,708,050NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$0NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO 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.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$27,928,474ExpenseAmt
Grant$27,928,474GrantAmt
Revenue$0RevenueAmt
DescIN 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").Desc
Total Program Service Expenses$27,928,474TotalProgramServiceExpensesAmt
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To OrganizationsYes (1)GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J RequiredYes (1)ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate OperationsYes (1)TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded EntityYes (1)DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl EntYes (1)RelatedOrganizationCtrlEntInd
Transaction With Control Ent0TransactionWithControlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
Info In Schedule O Part VYes (X)InfoInScheduleOPartVInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial AccountYes (1)ForeignFinancialAccountInd
Foreign CountryKZForeignCountryCd
Foreign CountryKGForeignCountryCd
Foreign CountryRSForeignCountryCd
Foreign CountryUKForeignCountryCd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members3GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business RlnYes (1)FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (1)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process OtherYes (1)CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldNVStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ANCHIN BLOCK & ANCHIN LLPBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2128403456PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13 TIMES SQUAREAddressLine1Txt
CityNEW YORKCityNm
State AbbreviationNYStateAbbreviationCd
ZIP10036ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
JOEL MCCLEARY
CHAIR45.0045.00Yes (X)Yes (X)$877,500$202,500$0
NURALY BEKTURGANOV
SECRETARY35.0035.00Yes (X)Yes (X)$780,000$180,000$0
ROBERT F ARMAO
DIRECTOR30.0030.00Yes (X)$780,000$180,000$0
AIDOS BEKTURGANOV
EXECUTIVE DIRECTOR AND MAN40.00Yes (X)$0$0$0
GANBAT CHULUUNKHUU
EXECUTIVE DIRECTOR, NGF NEVADA TRUST40.0040.00Yes (X)$156,000$144,000$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$2,593,500TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$706,500TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K4IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 KYes (1)TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1HOLLAND & KNIGHT LLPBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line1524 GRAND REGENCY BLVDAddressLine1Txt
CityBRANDONCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33510ZIPCd
FieldValueIRS element (for citing)
ServicesLEGAL FEESServicesDesc
Compensation$254,548CompensationAmt
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K1CntrctRcvdGreaterThan100KCnt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$24,619TotalRevenueColumnAmt
Exclusion$24,619ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Securities$5,595,777SecuritiesAmt
Other$4,917OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Securities$5,500,000SecuritiesAmt
Other$8,842OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$95,777SecuritiesAmt
Other-$3,925OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column$91,852TotalRevenueColumnAmt
Exclusion$91,852ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$116,471TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$116,471ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$27,928,474TotalAmt
Program Services$27,928,474ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$2,593,500TotalAmt
Management And General$2,593,500ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

FieldValueIRS element (for citing)
Total$254,548TotalAmt
Management And General$254,548ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$36,000TotalAmt
Management And General$36,000ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$3,000TotalAmt
Management And General$3,000ManagementAndGeneralAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$6,291TotalAmt
Management And General$6,291ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (3 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
CORPORATE FILING FEES$1,368$1,368
MISCELLANEOUS FEES$1,075$1,075
BANK CHARGES$265$265

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$30,824,521TotalAmt
Program Services$27,928,474ProgramServicesAmt
Management And General$2,896,047ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$3,314,798BOYAmt
EOY$0EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$20,199,493BOYAmt
EOY$0EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Inventories For Sale Or Use InventoriesForSaleOrUseGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$353,818BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$0LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$8,842BOYAmt
EOY$0EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$5,500,000BOYAmt
EOY$0EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Intangible Assets IntangibleAssetsGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$1,336,015BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$30,712,966BOYAmt
EOY$0EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$4,916BOYAmt
EOY$0EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$4,916BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind

Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp

FieldValueIRS element (for citing)
BOY$30,708,050BOYAmt
EOY$0EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$30,708,050BOYAmt
EOY$0EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$30,712,966BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$30,708,050ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1NGF NEVADA TRUSTBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O PEAK TRUST CO 1840 E WARMAddressLine1Txt
Address Line2SPRINGS RD SUITE 105AddressLine2Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89119ZIPCd
FieldValueIRS element (for citing)
Recipient EIN387320244RecipientEIN
Cash Grant$27,928,474CashGrantAmt
Non Cash Assistance$0NonCashAssistanceAmt
Purpose Of GrantTHE NGF NEVADA TRUST IS A TRUST FORMED BY THE NEW GENERATION FOUNDATION, INC. ("NGF") TO RECEIVE THE REMAINING FUNDS AND ASSETS OF NGF IN CONNECTION WITH ITS DISSOLUTION. THE TRUST IS INTENDED TO RESOLVE ANY OUTSTANDING VALID CLAIMS, OBLIGATIONS, DEBTS, AND EXPENSES, AND TO SUPPORT ANY POTENTIAL LITIGATION RELATED TO NGF AND ITS TRANSACTIONS. ULTIMATELY, THE TRUST AIMS TO DISTRIBUTE ANY REMAINING ASSETS TO NGF'S CHARITABLE BENEFICIARIES, SPECIFICALLY NAZARBAYEV UNIVERSITY AND NAZARBAYEV INTELLECTUAL SCHOOLS IN KAZAKHSTAN, THEREBY FULFILLING NGF'S ORIGINAL MISSION OF SUPPORTING EDUCATIONAL AND SOCIAL DEVELOPMENT PROGRAMS IN KAZAKHSTAN.PurposeOfGrantTxt
FieldValueIRS element (for citing)
Total501c3 Org0Total501c3OrgCnt
Total Other Org1TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePART I, LINE 2:FormAndLineReferenceDesc
ExplanationTHE TRUSTEES AND ADMINISTRATIVE TRUSTEE OF NGF NEVADA TRUST MONITOR THE USE OF GRANTS TO MAKE SURE THE ORIGINAL MISSION OF NEW GENERATION FOUNDATION IS ACHIEVED.ExplanationTxt

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
Board Or Committee ApprovalYes (X)BoardOrCommitteeApprovalInd
Severance Payment0SeverancePaymentInd
Supplemental Nonqual Rtr Plan0SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm0EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org0CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs0CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org0CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs0CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments0AnyNonFixedPaymentsInd
Initial Contract Exception0InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)

TitleTitleTxtBase Compensation Filing OrgBaseCompensationFilingOrgAmtCompensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmtBonus Filing OrganizationBonusFilingOrganizationAmountBonus Related OrganizationsBonusRelatedOrganizationsAmtOther Compensation Filing OrgOtherCompensationFilingOrgAmtOther Compensation Rltd OrgsOtherCompensationRltdOrgsAmtDeferred Compensation Flng OrgDeferredCompensationFlngOrgAmtDeferred Comp Rltd OrgsDeferredCompRltdOrgsAmtNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmtNontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmtTotal Compensation Filing OrgTotalCompensationFilingOrgAmtTotal Compensation Rltd OrgsTotalCompensationRltdOrgsAmtComp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmtComp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
JOEL MCCLEARY
CHAIR$67,500$202,500$0$0$810,000$0$0$0$0$0$877,500$202,500$0$0
NURALY BEKTURGANOV
SECRETARY$60,000$180,000$0$0$720,000$0$0$0$0$0$780,000$180,000$0$0
ROBERT F ARMAO
DIRECTOR$60,000$180,000$0$0$720,000$0$0$0$0$0$780,000$180,000$0$0
GANBAT CHULUUNKHUU
EXECUTIVE DIRECTOR, NGF NEVADA TRUST$156,000$144,000$0$0$0$0$0$0$0$0$156,000$144,000$0$0

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART I, LINE 3TERMINATION FEES WERE APPROVED FOR ROBERT ARMAO, JOEL MCCLEARY, AND NURALY BEKTURGANOV BY THE BOARD AS PART OF DISSOLUTION.
PART II, COLUMN A, LINES 1(II) - 4(II):COMPENSATION WAS PAID BY RELATED ORGANIZATION, NGF NEVADA TRUST, POST DISSOLUTION OF NEW GENERATION FOUNDATION, INC. AS REPORTED IN COLUMN B.

Schedule N IRS990ScheduleN

Liquidation Of Assets Table LiquidationOfAssetsTableGrp

Liquidation Of Assets Detail LiquidationOfAssetsDetail

FieldValueIRS element (for citing)
Assets Distri Or Expnss PaidCASHAssetsDistriOrExpnssPaidDesc
Distribution2024-02-29DistributionDt
Fair Market Value Of Asset$27,928,474FairMarketValueOfAssetAmt
EIN387320244EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1NGF NEVADA TRUSTBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1C/O PEAK TRUST CO 1840 E WARM SPRAddressLine1Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89119ZIPCd
FieldValueIRS element (for citing)
IRC SectionTRUSTIRCSectionTxt
FieldValueIRS element (for citing)
Director Of SuccessorYes (1)DirectorOfSuccessorInd
Employee Of Successor0EmployeeOfSuccessorInd
Owner Of Successor0OwnerOfSuccessorInd
Receive Compensation0ReceiveCompensationInd
Assets DistributedYes (1)AssetsDistributedInd
Required To Notify AGYes (1)RequiredToNotifyAGInd
Attorney General NotifiedYes (1)AttorneyGeneralNotifiedInd
Liabilities Paid0LiabilitiesPaidInd
Bonds Outstanding0BondsOutstandingInd

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
PART I, LINE 2E:PERSON(S) INVOLVED: ROBERT F. ARMAO, DIRECTOR, NURALY BEKTURGANOV, SECRETARY, AND JOEL MCCLEARY, BOARD CHAIR
PART I, LINE 2E:EXPLANATION OF INVOLVEMENT: ROBERT F. ARMAO AND NURALY BEKTURGANOV WILL SERVE AS TRUSTEES FOR NGF NEVADA TRUST WHILE JOEL MCCLEARY WILL SERVE AS TRUST PROTECTOR. NGF NEVADA TRUST IS THE RECIPIENT OF NEW GENERATION FOUNDATION INC'S ASSETS UPON DISSOLUTION.

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 2AIDOS BEKTURGANOV, EXECUTIVE DIRECTOR, HAS A FAMILY RELATIONSHIP WITH A BOARD MEMBER, NURALY BEKTURGANOV.
FORM 990, PART VI, SECTION B, LINE 11BFORM 990 WAS PREPARED BY A QUALIFIED CPA FIRM AND REVIEWED BY MANAGEMENT AND PROVIDED TO THE FULL BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
FORM 990, PART VI, SECTION B, LINE 12CA CONFLICT OF INTEREST POLICY WAS ADOPTED BY THE ORGANIZATION AND ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS ON AN ANNUAL BASIS.
FORM 990, PART VI, SECTION B, LINE 15ON JUNE 2, 2023, THE BOARD OF DIRECTORS RESOLVED TO PAY COMPENSATION TO THE CHAIRMAN OF THE BOARD AND EACH DIRECTOR A SEVERANCE EQUAL TO THREE YEARS OF THE ESTABLISHED ANNUAL RETAINER. FOR AVOIDANCE OF THE DOUBT, THIS SHALL MEAN $810,000 FOR THE CHAIRMAN OF THE BOARD AND $720,000 FOR A DIRECTOR (COLLECTIVELY AS "TERMINATION FEES"). THESE TERMINATION FEES WERE PAID TO THE DIRECTORS ON FEBRUARY 21, 2024.
FORM 990, PART VI, SECTION C, LINE 19ALL DOCUMENTS OPEN FOR PUBLIC INSPECTION ARE AVAILABLE BY REQUEST.

Schedule R IRS990ScheduleR

Id Disregarded Entities IdDisregardedEntitiesGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1JYSAN HOLDING LLCBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line110161 WEST PARK RUN DRIVE SUITE 150AddressLine1Txt
CityLAS VEGASCityNm
State AbbreviationNVStateAbbreviationCd
ZIP89145ZIPCd
FieldValueIRS element (for citing)
Primary ActivitiesINVESTMENT HOLDING COMPANYPrimaryActivitiesTxt
Legal Domicile StateNVLegalDomicileStateCd

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1NEW GENERATION FOUNDATIONBusinessNameLine1Txt

Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (36 entries)

Address Line1ForeignAddress/AddressLine1TxtCityForeignAddress/CityNmCountryForeignAddress/CountryCdForeign PostalForeignAddress/ForeignPostalCdPrimary ActivitiesPrimaryActivitiesTxtLegal Domicile Foreign CountryLegalDomicileForeignCountryCdBusiness Name Line1DirectControllingEntityName/BusinessNameLine1TxtEntity TypeEntityTypeTxtOwnershipOwnershipPctControlled OrganizationControlledOrganizationIndAddress Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCdEINEINLegal Domicile StateLegalDomicileStateCd
AKMOLA-DIRMEN LLP
45/3 AL-FARABI AVENUEASTANAKZ010000OTHER ACT ON GRAIN MARKETKZJFOOD KAZAKHSTAN LLPC0.72550Yes (1)
ALMANIT RUS LLC
23 ZHUKOV ROUTEMOSCOWRS115114IT DEVELOPMENT ACTIVITIESRSJUSAN MART LLPC0.92000Yes (1)
ASTANA CARGO SERVICE LLP
24/6 ALASH ROADASTANAKZ010000LOGISTIC ACTIVITIESKZJUSAN VENTURES LLPC0.92380Yes (1)
ASTYK LOGISTICS LLP
24/2 ALASH ROADASTANAKZ010000LOGISTIC AND DISTRIBUTIONKZJUSAN VENTURES LLPC0.92380Yes (1)
ASTYKZHAN TRADE CENTER LLP
3 BEYSEKOV STREETASTANAKZ010000TRADE ACTIVITIESKZJTRADE LLPC0.92380Yes (1)
ASTYKZHAN-KOSTANAY LLP
1B ABAYA AVENUEKOSTANAYKZ110005RETAIL TRADE ACTIVITIESKZJTRADE LLPC0.92380Yes (1)
CLOUD MASTER LLP
SEVERNYI RESIDENTIAL QUARTER 3 TSELKOSSHY AULKZ010000INFORMATION TECHNOLOGYKZJUSAN MOBILE JSCC0.92380Yes (1)
CTC LLP
NAURYZBAI BATYRA 17ALMATYKZ050004WIRED TELE COMMUNICATIONKZJUSAN MOBILE JSCC0.92380Yes (1)
CTC NETWORK LLP
NAURYZBAI BATYRA 17ALMATYKZ050004WIRED TELE COMMUNICATIONKZJUSAN MOBILE JSCC0
FIRST HEARTLAND CAPITAL JSC
45 KHADZHY MUKAN STREETALMATYKZ050059INVESTMENT MANAGEMENTKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
FIRST HEARTLAND JUSAN BANK JSC
242 NAZARBAYEV AVENUEALMATYKZA26F8T9COMMERCIAL BANKINGKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
FIRST HEARTLAND JUSAN INVEST JSC
24 SYGANAK STREETASTANAKZ010000SECURITIES BROKERAGEKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
FIRST HEARTLAND SECURITIES JSC
242 NAZARBAYEV AVENUEALMATYKZ050000SECURITIES BROKERAGEKZJUSAN TECHNOLOGIES LTDC0.92150Yes (1)
INSURANCE COMPANY JUSAN GARANT JSC
187B NAZARBAYEV AVENUEALMATYKZ050008INSURANCE ACTIVITIESKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
JFOOD DISTRIBUTION LLP
39 BOKEIKHANOVA STREETALMATYKZ050040WHOLESALE FOOD PRODUCTSKZJFOOD KAZAKHSTAN LLPC0.72550Yes (1)
JFOOD KAZAKHSTAN LLP
AKZHOL STREET 24ASTANAKZ000000GRAIN PURCHASE & PROCESSINGKZJUSAN DEVELOPMENT LLPC0.72550Yes (1)
JFOOD MILLS LLP
43-2 AL-FARABI AVENUEASTANAKZ010000WAREHOUSE & PROD. SERVICESKZJFOOD KAZAKHSTAN LLPC0.72550Yes (1)
JFOOD PRODUCTION LLP
45/2 AL-FARABI AVENUEASTANAKZ010000GRAIN MANUFACTURINGKZJFOOD KAZAKHSTAN LLPC0.72550Yes (1)
JFOOD TRADE LLP
41 AL-FARABI AVENUEASTANAKZ010000RETAIL SALE FOOD & BEVKZJFOOD KAZAKHSTAN LLPC0.72550Yes (1)
JPOST LLP
BLDG 36 AL-FARABI AVENUEALMATYKZ050059SECURE TRANSPORTATIONKZJUSAN MART LLPC0.92000Yes (1)
JT INTERNATIONAL SARL
5 RUE GOETHERLUXEMBOURGLU1637INVESTMENT HOLDINGLUJUSAN TECHNOLOGIES LTDC0
JTRADE LLP
DOSTYK AVENUE 91/2 OFFICE 410ALMATYKZ050059RETAIL TRADE ACTIVITIESKZJUSAN VENTURES LLPC0.92380Yes (1)
JUSAN DEVELOPMENT LLP
248B DOSTYK AVENUEALMATYKZ050000DISTRESSED ASSET MANAGEMENTKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
JUSAN INKASSACIYA LLP
12G FEDEROV STALMATYKZ050000SECURE TRANSPORTATIONKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
JUSAN MART LLP
BLDG 36 AL-FARABI AVENUEALMATYKZ050009IT DEVELOPMENT ACTIVITIESKZJUSAN VENTURES LLPC0.92000Yes (1)
JUSAN MOBILE JSC
RADOSTOVETS STREET 69ALMATYKZ050009TELEPHONE COMMUNICATIONKZJUSAN VENTURES LLPC0.92380Yes (1)
JUSAN PROPERTY LLP
248B DOSTYK AVENUEALMATYKZ050000DISTRESSED ASSET MANAGEMENTKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
JUSAN TECHNOLOGIES LTD
22A ST JAMES SQUARELONDONUKSW1Y 4JHHOLDING & MGMT COMPANYUKNEW GENERATION FOUNDATIONC0.92380Yes (1)
JUSAN VENTURES LLP
242 NAZARBAYEV AVENUEALMATYKZ050000MANAGEMENT COMPANYKZJUSAN TECHNOLOGIES LTDC0.92380Yes (1)
KUNAR-TRADE LLP
24/6 ALASH ROADASTANAKZ010000COMMERCIAL ACTIVITIESKZJUSAN VENTURES LLPC0.92380Yes (1)
OPTIMA BANK OJSC
493 JIBEK-OLU AVENUEBISHKEKKG720070COMMERCIAL BANKINGKGFIRST HEARTLAND JUSAN BANK JSCC0.70470Yes (1)
OUSA YUG LLP
20/14 ABAY AVENUEALMATYKZ050021DISTRESSED ASSET MANAGEMENTKZFIRST HEARTLAND JUSAN BANK JSCC0.72550Yes (1)
PIONEER TECHNOLOGIES SARL
5 RUE GOETHERLUXEMBOURGLU1637INVESTMENT HOLDINGLUPIONEER HORIZON EAST SCSC0.92380Yes (1)
SAPA NAN LLP
31/1 AL-FARABI AVENUEASTANAKZ010000PRODUCTION OF BREAD PRODUCTSKZJUSAN DEVELOPMENT LLPC0.72550Yes (1)
VBR REAL ESTATE LLP
140A AL-FARABI AVENUEALMATYKZ0500000REAL ESTATE MANAGEMENTKZJUSAN DEVELOPMENT LLPC0.38450Yes (1)
NGF NEVADA TRUST
T0C/O PEAK TRUST CO 1840 E WARM SPRINLAS VEGASNV89119387320244NV
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other Org0LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other OrgYes (1)TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

FieldValueIRS element (for citing)
Business Name Line1NGF NEVADA TRUSTBusinessNameLine1Txt
FieldValueIRS element (for citing)
Transaction TypeRTransactionTypeTxt
Involved$27,928,474InvolvedAmt
Method Of Amount DeterminationCASHMethodOfAmountDeterminationTxt