FIRST GENERATION SCHOLARSHIP FUND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2022

Legal Domicile

Principal Officer

Jonathan Fuhrman

Phone

6268645255

Tax Period

2025-01-01 to 2025-12-31

FIRST GENERATION SCHOLARSHIP FUND, founded in 2022, is a small nonprofit in the Education sector that reported $199K in total revenue in fiscal year 2025. Revenue surged 187% from the prior year, signaling strong growth momentum. The organization ran a surplus of $119K, a strong 60% operating margin.

Mission

The First Generation Scholarship Fund aims to provide first-generation community college transfer students with expert mentors, life-changing internships, and financial assistance to enable them to earn their bachelor's degree, in two years, debt-free. The Fund began fundraising in 2023. We typically select three to four students each year and support them for two years. In exceptional circumstances, support may be extended for a third year. Students are selected through a public, competitive application process that evaluates academic achievement, financial need, and demonstrated commitment to their educational and career goals, with final selections made by the Board of Directors."

Program Service Accomplishments

Program 1

Expenses: $67,500 Revenue: $0

Our first class of three Scholars at CalStateLA are approaching graduation, and we are supporting a second cadre of Scholars who are completing their junior year, either at CalStateLA or at CalState Northridge. These Scholars are able to pursue their BA degree without any loans or work-study unrelated to their majors. We are also placing each of the students in summer internships related to their academic majors.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $197,985

Program Service Revenue $0

Investment Income $1,355

Other Revenue $0

TOTAL REVENUE $199,340

Expense Breakdown

Grants Paid $67,500

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $67,500

Other Expenses $13,034

TOTAL EXPENSES $80,534

Year-over-Year Comparison

	2025	2024	Change
Revenue	$199,340	$69,336	+1.9%
Expenses	$80,534	$28,944	+1.8%
Net Income	$118,806	$40,392	+1.9%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jamil Momand	President	3	Officer Director	$0	$0	$0
Jonathan Fuhrman	Treasurer	1	Officer Director	$0	$0	$0
Susan Kane	Vice-President	2	Officer Director	$0	$0	$0
Sandra Sharp	Secretary	1	Officer Director	$0	$0	$0
Jeffrey Silverman	Director	1	Director	$0	$0	$0
Marilyn Johnson	Director	2	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$199,340	$80,534	$199,434	$118,806