Firstgen Forward

“The form 990 was prepared by the outside accountants. The vice president worked closely with the controller before it was filed. Once it was filed, it was then reviewed by the board of directors.”

“Annually, all board members and staff members sign a conflict of interest statement to indicate compliance with the policy. All statements are reviewed by the executive officers. If there is a conflict of interest, it is resolved as follows: if a conflict arises with an employee, the executive officers meet with the employee to resolve the conflict. If a conflict arises with an executive officer, the officer meets with the executive committee to resolve the conflict. If a conflict arises with a board member, the member meets with the executive committee to resolve the conflict. The process for resolution is as follows: board action - when a conflict of interest is relevant to a matter requiring action by the board, the interested person calls it to the attention of the board and that person does not vote on the matter. In addition, the interested person does not participate in the final decision or related deliberation regarding the matter under consideration. When there is a doubt as to whether a conflict exists, the matter is resolved by a vote of the board of directors, excluding the interested person. Record of conflict - the official minutes of the board reflect that the conflict of interest was disclosed and the interested person did not participate in the final discussion and did not vote on the matter.”

“The organization follows the unrelated organization salary review policy.”

“The organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request to the controller.”

“Fiscal sponsorship and grant activity during fiscal year 2025, the national association of student personnel administrators (naspa) served as a fiscal sponsor for certain grant-funded activities of firstgen forward (fgf). Under this arrangement, specific grants were awarded to naspa on behalf of fgf, and naspa administered these funds in a fiduciary capacity for the benefit of fgf's programs. Consistent with applicable accounting guidance, amounts received under these fiscal sponsorship arrangements were not recognized as revenue by naspa, as naspa did not have variance power or discretion over the use of the funds. Instead, such amounts were recorded as liabilities (amounts held on behalf of fgf) until disbursed or transferred. Because the grants were awarded to naspa rather than directly to fgf during fiscal year 2025, the related grantors are not reflected as contributors on fgf's schedule b. Subsequent to june 30, 2025, naspa and fgf have started the transfer process which all remaining assets and liabilities associated with these fiscal sponsorship arrangements were transferred to fgf as part of its transition to an independent 501(c)(3) organization after receiving tax-exempt status in june 2025. All of these transfers will be complete prior to june 30, 2026.”

“Transfer of liability from fiscal sponsor -224,725.”