2024-11-15T18:52:38-06:00 2023-12-31 881478669 CBIZ ADVISORS LLC 1899 L STREET NW 850 WASHINGTON DC 20036 990 2023-01-01 364957734 NEW GENERATION FOUNDATION INC NEWG 9179154287 1810 E SAHARA AVE 587 LAS VEGAS NV 89104 JOEL MCCLEARY BOARD CHAIR 9179154287 2024-11-15 1 0 FRANK H SMITH P00639053 2022274000 2024-11-15 2023 2024-10-15 13:58:12Z JOEL MCCLEARY 1810 E SAHARA AVE 587 LAS VEGAS NV 89104 20892979 0 X N/A X 2019 NV TO 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. X 3 3 3 5 0 0 0 0 0 0 12024673 20874456 600 18523 12025273 20892979 2462225 0 0 0 876384 1918252 0 0 0 4416670 2576728 7755279 4494980 4269994 16397999 1489115917 30712966 260665 4916 1488855252 30708050 TO 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. 0 0 IN 2023, THE FOUNDATION CONTINUED TO SET UP THE APPROPRIATE STRUCTURE NEEDED TO SUPPORT ALL THE FUTURE EDUCATIONAL AND OTHER RELATED ACTIVITIES AND ALSO DISTRIBUTED FUNDS TO EDUCATIONAL ORGANIZATIONS IN KAZAKHSTAN IN FURTHERANCE OF ITS MISSION. 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 X 5 0 1 3 1 0 1 KZ KG RS LU UK 0 0 0 0 1 0 X 3 3 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 NV X THE ORGANIZATION 9179154287 1810 E SAHARA AVE 587 LAS VEGAS NV 89104 JOEL MCCLEARY CHAIR 45.00 X X 337500 0 0 NURALY BEKTURGANOV SECRETARY 35.00 X X 314838 0 0 ROBERT F ARMAO DIRECTOR 30.00 X 300000 0 0 AIDOS BEKTURGANOV EXECUTIVE DIRECTOR AND MAN 40.00 X 300000 0 0 M RON WAHID JHLLC MANAGER, CHAIR AND CEO 40.00 X 500000 16014058 0 1752338 16014058 0 5 0 1 0 HOLLAND & KNIGHT PO BOX 936937 ATLANTA GA 31193 LEGAL 713750 MARCUM LLP 10 MELVILLE PARK ROAD MELVILLE NY 11747 ACCOUNTING 325184 BGR GVERNMENT AFFAIRS LLC 601 13TH ST 11TH FLOOR S WASHINGTON DC 20005 INTERNATIONAL ADVISORY SERVICES 300000 RVJ CAPITAL 888 MAIN STREET NEW YORK NY 10044 PROFESSIONAL ASSISTANCE 209435 YERBOL ORYNBAYEV 1035 CARPER STREET MCLEAN VA 22101 CONSULTING 150000 5 20874456 20874456 OTHER 900099 18523 18523 18523 20892979 0 0 20892979 X 1752338 1752338 126042 126042 475 475 39397 39397 768996 768996 83902 83902 1206276 1206276 20502 20502 5278 5278 120364 120364 48178 48178 4538 4538 305752 305752 BUSINESS TAXES 9527 9527 EXCHANGE LOSS 3415 3415 4494980 0 4494980 0 6051679 3314798 20199493 2302582 99415 353818 14435 5593 8444 8842 1478380698 5500000 2273099 1336015 1489115917 30712966 260665 4916 260665 4916 X 0 0 0 0 1488855252 30708050 1488855252 30708050 1489115917 30712966 X 16397999 -1474545201 X 0 0 0 14435 5593 8842 8842 92.38% SHARES OF JUSAN TECHNOLOGIES LTD 5500000 F 5500000 0 RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, INVESTMENTS NONE EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM INVESTMENTS NONE RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, GRANTMAKING NONE 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 X X X 1 0 0 0 0 0 0 0 0 M RON WAHID JHLLC MANAGER, CHAIR AND CEO 500000 814058 0 3200000 0 12000000 0 0 0 0 500000 16014058 0 0 JOEL MCCLEARY CHAIR 337500 0 0 0 0 0 0 0 0 0 337500 0 0 0 NURALY BEKTURGANOV SECRETARY 314838 0 0 0 0 0 0 0 0 0 314838 0 0 0 AIDOS BEKTURGANOV EXECUTIVE DIRECTOR AND MAN 300000 0 0 0 0 0 0 0 0 0 300000 0 0 0 ROBERT F ARMAO DIRECTOR 300000 0 0 0 0 0 0 0 0 0 300000 0 0 0 PART I, LINE 3 AS PER THE BOARD RESOLUTION DATED 2 JUNE 2023, THE BOARD ADOPTED RECOMMENDATIONS BY ITS LEGAL COUNSEL TAKING INTO ACCOUNT THE 2023 COMPENSATION CONSULTANTS REPORT. PART I, LINE 4A SEVERANCE OF $12,000,000 WAS PAID BY JUSAN TECHNOLOGIES, LTD TO RON WAHID BASED ON CONTRACTUAL ARRANGEMENTS. INVESTMENTS IN KAZAKH AND RUSSIAN FINANCIAL INSTITUTIONS. AMONG SUCH INVESTMENTS WERE INTERESTS IN A BANK ACTIVELY ENGAGED IN CORPORATE, SME, AND RETAIL BANKING, WITH 22 FULL SERVICE AND 123 OUTLETS THROUGHOUT KAZAKHSTAN, A BANK ACTIVELY ENGAGED IN COMMERCIAL BANKING, AND A COMPANY ACTIVELY ENGAGED IN ASSET MANAGEMENT. SEE SCHEDULE O FOR COMPLETE EXPLANATION. 14745451 FINANCIALS FOR JUSAN TECHNOLOGIES LTD. KAZAKHSTAN GOVERNMENT 100 XX KZ FOREIGN GOVT 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 AIDOS BEKTURGANOV, EXECUTIVE DIRECTOR, HAS A FAMILY RELATIONSHIP WITH A BOARD MEMBER, NURALY BEKTURGANOV. FORM 990, PART VI, SECTION A, LINE 3 PER THE FOUNDATION'S GUIDELINES ON MANAGEMENT OF CERTAIN ASSET DATED 29 NOV 2021, THE DIRECT MANAGEMENT OF JTL ASSETS WAS DELEGATED TO THE BOARD OF DIRECTORS OF JTL. FORM 990, PART VI, SECTION B, LINE 11B FORM 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 12C A 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 15 COMPENSATION WAS BASED ON COMPARABLE DATA AND SALARY SURVEY PROVIDED BY AN INDEPENDENT THIRD PARTY AND WAS REVIEWED AND DOCUMENTED BY THE BOARD. NURALY BEKTURGANOV RECUSED HIMSELF FROM THE DISCUSSION RELATED TO THE COMPENSATION OF THE EXECUTIVE DIRECTOR DUE TO A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS OPEN FOR PUBLIC INSPECTION ARE AVAILABLE BY REQUEST. FORM 990, PART IX, LINE 11G CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 193,050. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 193,050. OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,005,291. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,005,291. PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 7,935. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,935. FORM 990, PART XI, LINE 9: REPATRIATED ASSETS - SEE SCHEDULE N AND DETAILED DESCRIPTION BELOW -1,474,545,201. FORM 990, PART XI, LINE 9 - REPATRIATED ASSET EXPLANATION NGF WAS ORIGINALLY CREATED, AND 100% OF THE MEMBERSHIP INTERESTS OF JYSAN HOLDING LLC ("JH") WERE TRANSFERRED BY GIFT TO NGF, TO SUPPORT THE CHARITABLE, EDUCATIONAL, AND SOCIAL WELFARE MISSIONS OF THE AUTONOMOUS ORGANIZATIONS OF NAZARBAYEV UNIVERSITY (THE "UNIVERSITY") AND NAZARBAYEV INTELLECTUAL SCHOOLS (THE "SCHOOLS"), EACH LOCATED IN THE REPUBLIC OF KAZAKHSTAN. THE UNDERLYING PURPOSE OF THE GIFT WAS TO PLACE THE UNIVERSITY'S AND SCHOOLS' ENDOWMENT UNDER THE CONTROL OF A LEGAL ENTITY THAT WAS NOT-FOR-PROFIT AND WOULD FUND TO OPERATIONS AND RESEARCH GOALS OF THE UNIVERSITY AND SCHOOLS, BUT WHICH WAS IN A JURISDICTION RECOGNIZED AS HAVING REGULATORY TRANSPARENCY AND A STRONG COMMITMENT TO THE RULE OF LAW. THUS, NGF WAS ESTABLISHED AS A NEVADA NONPROFIT CORPORATION AND AN ORGANIZATION DESCRIBED IN SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. AT THAT TIME, JH WAS THE SOLE BENEFICIAL OWNER OF ALL SHARES OF JYSAN TECHNOLOGIES LTD, A PRIVATE COMPANY INCORPORATED IN THE UNITED KINGDOM ("JT"). JT OWNED INVESTMENTS IN KAZAKH AND RUSSIAN FINANCIAL INSTITUTIONS. AMONG SUCH INVESTMENTS WERE INTERESTS IN A BANK ACTIVELY ENGAGED IN CORPORATE, SME, AND RETAIL BANKING, WITH 22 FULL SERVICE AND 123 OUTLETS THROUGHOUT KAZAKHSTAN, A BANK ACTIVELY ENGAGED IN COMMERCIAL BANKING, AND A COMPANY ACTIVELY ENGAGED IN ASSET MANAGEMENT. IN EARLY 2022, THE KAZAKHSTAN GOVERNMENT BEGAN TO MAKE DEMANDS FOR KAZAKHSTANI DIRECTORS TO BE APPOINTED TO NGF'S BOARD AND LAUNCHED OTHER NEGATIVE PUBLIC RELATION CAMPAIGNS AND INVESTIGATIONS AGAINST NGF, JH, AND JT, IN AN EFFORT TO FORCE REPATRIATION OF THE ENDOWMENT FUNDS. IN THE FALL OF 2022, THE KAZAKHSTAN GOVERNMENT FROZE ALL ASSETS THAT WERE LOCATED IN KAZAKHSTAN AND PREVENTED ANY DIVIDENDS FROM BEING PAID TO NGF, TAKING THE POSITION THAT THE ASSETS WERE FRAUDULENTLY TRANSFERRED OUT OF THE COUNTRY TO NGF. THIS MOVE PREVENTED NGF FROM CONTINUING TO MAKE GRANTS TO THE UNIVERSITY AND SCHOOLS AND THREATENED NGF'S ABILITY TO CONTINUE ITS OPERATIONS AND EFFORTS TO OPPOSE THE FORCED DIVESTITURE OF ITS ASSETS. IN FEBRUARY 2023, NGF (ACTING THROUGH JH) INITIATED A LAWSUIT IN FEDERAL DISTRICT COURT IN THE STATE OF NEVADA AGAINST THE REPUBLIC OF KAZAKHSTAN AND OTHERS, AS WELL AS AN ARBITRATION CONDUCTED IN THE UNITED KINGDOM. IN APRIL 2023, THE REPUBLIC OF KAZAKHSTAN ISSUED A NEW LAW PLACING SPECIAL RESTRICTIONS ON FOREIGN LEGAL ENTITIES TO OWN, USE, AND/OR DISPOSE OF, DIRECTLY OR INDIRECTLY, VOTING SHARES OF KAZAKHSTAN RESIDENT BANKS. EVERY EFFORT OF NGF TO GET CONTROL OF NGF ASSETS WAS BLOCKED. THEREAFTER, THE ARBITRATION WAS SETTLED DURING 2023 WHEREBY APPROXIMATELY $1.5 BILLION IN ASSETS WERE REPATRIATED TO KAZAKHSTAN, AND THE BANKS WERE PERMITTED TO PAY DIVIDENDS TO JT OF APPROXIMATELY $100 MILLION USD, LEAVING NGF WITH APPROXIMATELY $100 MILLION IN ASSETS, ALONG WITH AN OBLIGATION TO BUY BACK SHARES OF JT WORTH APPROXIMATELY $25 MILLION, RESULTING IN $75 MILLION IN NET ASSETS. AFTER PAYING OTHER CONTRACTUAL OBLIGATIONS AND WIND UP COSTS, ALL REMAINING FUNDS WILL BE TRANSFERRED TO THE UNIVERSITY AND SCHOOLS IN KAZAKHSTAN. JYSAN HOLDING LLC 10161 WEST PARK RUN DRIVE SUITE 150 LAS VEGAS NV 89145 INVESTMENT HOLDING COMPANY NV 20874363 19170516 NEW GENERATION FOUNDATION AKMOLA-DIRMEN LLP 45/3 AL-FARABI AVENUE ASTANA KZ 010000 OTHER ACT ON GRAIN MARKET KZ JFOOD KAZAKHSTAN LLP C 15199 0.72550 1 ALMANIT RUS LLC 23 ZHUKOV ROUTE MOSCOW RS 115114 IT DEVELOPMENT ACTIVITIES RS JUSAN MART LLP C 0.92000 1 ASTANA CARGO SERVICE LLP 24/6 ALASH ROAD ASTANA KZ 010000 LOGISTIC ACTIVITIES KZ JUSAN VENTURES LLP C 564633 0.92380 1 ASTYK LOGISTICS LLP 24/2 ALASH ROAD ASTANA KZ 010000 LOGISTIC AND DISTRIBUTION KZ JUSAN VENTURES LLP C 3974937 0.92380 1 ASTYKZHAN TRADE CENTER LLP 3 BEYSEKOV STREET ASTANA KZ 010000 TRADE ACTIVITIES KZ JTRADE LLP C 1875896 0.92380 1 ASTYKZHAN-KOSTANAY LLP 1B ABAYA AVENUE KOSTANAY KZ 110005 RETAIL TRADE ACTIVITIES KZ JTRADE LLP C 3494434 0.92380 1 CLOUD MASTER LLP SEVERNYI RESIDENTIAL QUARTER 3 TSEL REGION KOSSHY AUL KZ 010000 INFORMATION TECHNOLOGY KZ JUSAN MOBILE JSC C 0.92380 1 CTC LLP NAURYZBAI BATYRA 17 ALMATY KZ 050004 WIRED TELE COMMUNICATION KZ JUSAN MOBILE JSC C 231488 0.92380 1 CTC NETWORK LLP NAURYZBAI BATYRA 17 ALMATY KZ 050004 WIRED TELE COMMUNICATION KZ JUSAN MOBILE JSC C 0 FIRST HEARTLAND CAPITAL JSC 45 KHADZHY MUKAN STREET ALMATY KZ 050059 INVESTMENT MANAGEMENT KZ FIRST HEARTLAND JUSAN BANK JSC C 1352911 0.72550 1 FIRST HEARTLAND JUSAN BANK JSC 242 NAZARBAYEV AVENUE ALMATY KZ A26F8T9 COMMERCIAL BANKING KZ FIRST HEARTLAND SECURITIES JSC C 41445 0.72550 1 FIRST HEARTLAND JUSAN INVEST JSC 24 SYGANAK STREET ASTANA KZ 010000 SECURITIES BROKERAGE KZ FIRST HEARTLAND JUSAN BANK JSC C 6959869 0.72550 1 FIRST HEARTLAND SECURITIES JSC 242 NAZARBAYEV AVENUE ALMATY KZ 050000 SECURITIES BROKERAGE KZ JUSAN TECHNOLOGIES LTD C 1185139 0.92150 1 INSURANCE COMPANY JUSAN GARANT JSC 187B NAZARBAYEV AVENUE ALMATY KZ 050008 INSURANCE ACTIVITIES KZ FIRST HEARTLAND JUSAN BANK JSC C 24712788 0.72550 1 JFOOD DISTRIBUTION LLP 39 BOKEIKHANOVA STREET ALMATY KZ 050040 WHOLESALE FOOD PRODUCTS KZ JFOOD KAZAKHSTAN LLP C 452451 0.72550 1 JFOOD KAZAKHSTAN LLP AKZHOL STREET 24 ASTANA KZ 000000 GRAIN PURCHASE & PROCESSING KZ JUSAN DEVELOPMENT LLP C 2537756 0.72550 1 JFOOD MILLS LLP 43-2 AL-FARABI AVENUE ASTANA KZ 010000 WAREHOUSE & PROD. SERVICES KZ JFOOD KAZAKHSTAN LLP C 114957 0.72550 1 JFOOD PRODUCTION LLP 45/2 AL-FARABI AVENUE ASTANA KZ 010000 GRAIN MANUFACTURING KZ JFOOD KAZAKHSTAN LLP C 1279593 0.72550 1 JFOOD TRADE LLP 41 AL-FARABI AVENUE ASTANA KZ 010000 RETAIL SALE FOOD & BEV KZ JFOOD KAZAKHSTAN LLP C 171804 0.72550 1 JPOST LLP BLDG 36 AL-FARABI AVENUE ALMATY KZ 050059 SECURE TRANSPORTATION KZ JUSAN MART LLP C 9507 0.92000 1 JT INTERNATIONAL SARL 5 RUE GOETHER LUXEMBOURG LU 1637 INVESTMENT HOLDING LU JUSAN TECHNOLOGIES LTD C 0 JTRADE LLP DOSTYK AVENUE 91/2 OFFICE 410 ALMATY KZ 050059 RETAIL TRADE ACTIVITIES KZ JUSAN VENTURES LLP C 228570 0.92380 1 JUSAN DEVELOPMENT LLP 248B DOSTYK AVENUE ALMATY KZ 050000 DISTRESSED ASSET MANAGEMENT KZ FIRST HEARTLAND JUSAN BANK JSC C 2132030 0.72550 1 JUSAN INKASSACIYA LLP 12G FEDEROV ST ALMATY KZ 050000 SECURE TRANSPORTATION KZ FIRST HEARTLAND JUSAN BANK JSC C 141699 0.72550 1 JUSAN MART LLP BLDG 36 AL-FARABI AVENUE ALMATY KZ 050059 IT DEVELOPMENT ACTIVITIES KZ JUSAN VENTURES LLP C 784126 0.92000 1 JUSAN MOBILE JSC RADOSTOVETS STREET 69 ALMATY KZ 050009 TELEPHONE COMMUNICATION KZ JUSAN VENTURES LLP C 6699527 0.92380 1 JUSAN PROPERTY LLP 248B DOSTYK AVENUE ALMATY KZ 050000 DISTRESSED ASSET MANAGEMENT KZ FIRST HEARTLAND JUSAN BANK JSC C 2395654 0.72550 1 JUSAN TECHNOLOGIES LTD 22A ST JAMES SQUARE LONDON UK SW1Y 4JH HOLDING & MGMT COMPANY UK NEW GENERATION FOUNDATION C 70661 1237366979 0.92380 1 JUSAN VENTURES LLP 242 NAZARBAYEV AVENUE ALMATY KZ 050000 MANAGEMENT COMPANY KZ JUSAN TECHNOLOGIES LTD C 1570136 0.92380 1 KUNAR-TRADE LLP 24/6 ALASH ROAD ASTANA KZ 010000 COMMERCIAL ACTIVITIES KZ JUSAN VENTURES LLP C 510409 0.92380 1 OPTIMA BANK OJSC 493 JIBEK-OLU AVENUE BISHKEK KG 720070 COMMERCIAL BANKING KG FIRST HEARTLAND JUSAN BANK JSC C 46050651 0.70470 1 OUSA YUG LLP 20/14 ABAY AVENUE ALMATY KZ 050021 DISTRESSED ASSET MANAGEMENT KZ FIRST HEARTLAND JUSAN BANK JSC C 237929 0.72550 1 PIONEER TECHNOLOGIES SARL 5 RUE GOETHER LUXEMBOURG LU 1637 INVESTMENT LU PIONEER HORIZON EAST SCS C 0.92380 1 SAPA NAN LLP 31/1 AL-FARABI AVENUE ASTANA KZ 010000 PRODUCTION OF BREAD PRODUCTS KZ JUSAN DEVELOPMENT LLP C 366024 0.72550 1 VBR REAL ESTATE LLP 140A AL-FARABI AVENUE ALMATY KZ 0500000 REAL ESTATE MANAGEMENT KZ JUSAN DEVELOPMENT LLP C 82878 0.38450 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 JUSAN TECHNOLOGIES LTD F 20408810