2025-04-03T12:19:39-05:00 2024-05-31 410746749 CLIFTONLARSONALLEN LLP 2021 SPRING ROAD SUITE 200 OAK BROOK IL 60523 990 2023-06-01 363968441 THE ACTUARIAL FOUNDATION ACTU 8477063535 869 E SCHAUMBURG RD 321 SCHAUMBURG IL 60194 VALERIE THOMPSON EXECUTIVE DIRECTOR 8477063535 2025-04-02 1 1 MELISSA STRUCK P01310867 6305738600 2025-03-25 2023 2025-03-06 01:10:19Z VALERIE THOMPSON 869 E SCHAUMBURG RD 321 SCHAUMBURG IL 60194 8314610 0 X WWW.ACTUARIALFOUNDATION.ORG X 1994 IL CHANGING LIVES THROUGH MATH EDUCATION (SEE SCHEDULE O FOR THE ORGANIZATION'S FULL MISSION STATEMENT) 30 30 41 540 0 0 3253542 2956533 0 0 600233 1082379 0 -42114 3853775 3996798 507870 847069 0 0 1074087 2689842 0 0 904697 3680167 1763257 5262124 5300168 -1408349 -1303370 7379506 5284021 1009150 686080 6370356 4597941 X THE ACTUARIAL FOUNDATION, A 501(C)(3) ORGANIZATION, IS THE PHILANTHROPIC ORGANIZATION FOR THE ACTUARIAL INDUSTRY IN THE UNITED STATES. SINCE 1994, THE FOUNDATION HAS PROMOTED LIFELONG MATH EDUCATION AND FINANCIAL LITERACY THROUGH ITS LEARNING RESOURCES AND SCHOLARSHIPS. THE MISSION OF THE FOUNDATION IS TO ENHANCE MATH EDUCATION AND FINANCIAL LITERACY THROUGH THE TALENTS AND RESOURCES OF ACTUARIES. THE FOUNDATION'S VISION IS AN EDUCATED PUBLIC IN PURSUIT OF A SECURE FINANCIAL FUTURE. 0 0 2297545 96000 EDUCATION - THE FOUNDATION ENCOURAGES NEW GENERATIONS OF MATHEMATICAL THINKERS BY CREATING AND DISTRIBUTING EDUCATIONAL MATERIALS TO TEACHERS AND STUDENTS IN GRADES 4-12. THESE FREE RESOURCES INCLUDE HANDS-ON PROJECTS, LESSON PLANS, AND ONLINE ACTIVITIES THAT COVER A VARIETY OF MATHEMATICAL TOPICS AND FINANCIAL LITERACY THEMES. MODELING THE FUTURE CHALLENGE (MTF), IS A CRITICAL THINKING, HANDS-ON MATHEMATICS CHALLENGE FOR HIGH SCHOOL STUDENTS FOR THE CHANCE TO EARN ONE OF THREE COLLEGE SCHOLARSHIPS TOTALING $55,000. STUDENTS WILL LEARN HOW MATHEMATICS APPLIES TO CUTTING-EDGE INDUSTRIES AND TECHNOLOGY, AS WELL AS HIGHLY SOUGHT-AFTER CAREERS AS ACTUARIES AND OTHER MATH-RELATED PROFESSIONS. THE AWARD-WINNING FINANCIAL LITERACY CURRICULUM RESOURCE, BUILDING YOUR FUTURE, HAS BEEN PROVIDED FOR FREE TO MORE THAN 60,000 HIGH SCHOOL TEACHERS AND 500,000 STUDENTS NATIONWIDE. THE FOUNDATION IS PROUD TO HELP TO CLOSE THE OPPORTUNITY GAP THROUGH A VOLUNTEER-DRIVEN S.A.T. AND MATH TUTORING PROGRAM THAT PAIRS LOW-INCOME URBAN HIGH SCHOOL STUDENTS WITH PROFESSIONAL ACTUARIES AND COLLEGE STUDENTS MAJORING IN ACTUARIAL SCIENCE, MATHEMATICS, OR EDUCATION. 837890 694069 SCHOLARSHIPS - THE ACTUARIAL FOUNDATION ENSURES THE FUTURE OF THE ACTUARIAL PROFESSION THROUGH ITS SCHOLARSHIPS AND REIMBURSEMENT PROGRAM. RECIPIENTS OF FOUNDATION SCHOLARSHIPS ARE SELECTED BY REPRESENTATIVES OF THE ACTUARIAL PROFESSION, WHO MAY ONE DAY BE THEIR PEERS. SO, NOT ONLY ARE THESE SCHOLARSHIPS A MEANS TO OFFSET THE COST OF EDUCATION, THEY ALSO SERVE AS A PRESTIGIOUS RECOGNITION BY A HIGHLY RATED PROFESSION. ACTUARY OF TOMORROW - STUART A. ROBERTSON MEMORIAL SCHOLARSHIPS RECOGNIZE AND ENCOURAGE THE ACADEMIC ACHIEVEMENTS OF UNDERGRADUATE STUDENTS PURSUING A CAREER IN ACTUARIAL SCIENCE. THE CARIBBEAN ACTUARIAL SCHOLARSHIP IS INTENDED TO BE AN ANNUAL AWARD TO UNIVERSITY OF THE WEST INDIES (UWI) ACTUARIAL STUDENTS WHO DEMONSTRATE A STRONG RECORD OF ACCOMPLISHMENT, LEADERSHIP QUALITIES, AND COMMITMENT TO BECOMING AN ACTUARY. THE ACTUARIAL DIVERSITY SCHOLARSHIP PROMOTES INCLUSION AND REPRESENTATION. THE CURTIS E. HUNTINGTON MEMORIAL SCHOLARSHIP APPLICANTS MUST BE A COLLEGE SENIOR WHO HAS SUCCESSFULLY COMPLETED AT LEAST ONE ACTUARIAL EXAMINATION. APPLICANT MUST RANK IN THE TOP QUARTER OF THEIR CLASS AND HAVE BEEN NOMINATED BY A PROFESSOR AT THEIR SCHOOL. 94007 57000 AWARDS & PRIZES - THE ACTUARIAL FOUNDATION IS PROUD TO RECOGNIZE THE EXEMPLARY WORK OF INDIVIDUALS WHOSE WORK IS ADDING TO THE KNOWLEDGE OF THE ACTUARIAL FIELD AND ADVANCING THE SKILL SET OF THE PROFESSION. THE ERM RESEARCH EXCELLENCE AWARD IN MEMORY OF HUBERT MUELLER RECOGNIZES SIGNIFICANT CONTRIBUTIONS TO THE GROWING BODY OF ERM KNOWLEDGE AND RESEARCH. THE AWARD IS GIVEN ANNUALLY TO THE BEST OVERALL PAPER AT THE ERM SYMPOSIUM. THE WYNN KENT PUBLIC COMMUNICATION AWARD IS GIVEN TO MEMBERS OF THE ACTUARIAL PROFESSION WHO HAVE CONTRIBUTED TO THE PUBLIC AWARENESS OF THE WORK OF THE PROFESSION AND THE VALUE OF ACTUARIAL SCIENCE IN MEETING THE FINANCIAL SECURITY OF SOCIETY IN THE FIELDS OF LIFE, HEALTH, CASUALTY, PENSION, AND OTHER RELATED AREAS. THE INTENT OF THE AWARD IS TO ENCOURAGE ACTUARIES TO ENGAGE IN ACTIVITIES THAT HIGHLIGHT THE ACTUARIAL PROFESSION'S ROLE IN FINANCIAL SECURITY ISSUES BENEFITING THE PUBLIC. 9541 GENERAL PROGRAM EXPENSES. 9541 3238983 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 41 1 0 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 IL AL AR CA FL GA HI KS KY MA MD MI MN MS NC NH NJ NM NY OR PA RI SC TN VA WI WV UT X X VALERIE THOMPSON 8477063535 869 E SCHAUMBURG RD 321 SCHAUMBURG IL 60194 NORA BENANTI TRUSTEE 1.00 X 0 0 0 CRAIG BUCK TRUSTEE 1.00 X 0 0 0 ANDIE CHRISTOPHERSON TRUSTEE 1.00 X 0 0 0 KELLY CUSICK TRUSTEE 1.00 X 0 0 0 ALEXANDER DEWITT TRUSTEE 1.00 X 0 0 0 CYNTHIA EDWALDS TRUSTEE 1.00 X 0 0 0 STEVE EISENSTEIN TRUSTEE 1.00 X 0 0 0 JEREMY ENGDAHL-JOHNSON TRUSTEE 1.00 X 0 0 0 ANDY FERRIS CHAIR 1.00 X X 0 0 0 EMILY GINGRICH TRUSTEE 1.00 X 0 0 0 OLGA JACOBS TRUSTEE 1.00 X 0 0 0 JEFFREY JOHNSON TRUSTEE 1.00 X 0 0 0 RICHARD JONES TRUSTEE 1.00 X 0 0 0 ANAND KHARE SECRETARY TREASURER 1.00 X X 0 0 0 TRAVIS LAPPE TRUSTEE 1.00 X 0 0 0 TED LYLE TRUSTEE 1.00 X 0 0 0 KASSIE MARONEY TRUSTEE 1.00 X 0 0 0 JERRY MINGIONE TRUSTEE 1.00 X 0 0 0 CANDE OLSEN TRUSTEE 1.00 X 0 0 0 NADINE ORLOFF TRUSTEE 1.00 X 0 0 0 LELA PATRIK TRUSTEE 1.00 X 0 0 0 SHARON ROBINSON CHAIR-ELECT 1.00 X X 0 0 0 STEVE ROMINSKE TRUSTEE 1.00 X 0 0 0 ELIZABETH SANDER TRUSTEE 1.00 X 0 0 0 ERIC SHERMAN TRUSTEE 1.00 X 0 0 0 JOANNE SPALLA TRUSTEE 1.00 X 0 0 0 RICHARD VEYS TRUSTEE 1.00 X 0 0 0 STEVE WHITE TRUSTEE 1.00 X 0 0 0 CHAD WISCHMEYER TRUSTEE 1.00 X 0 0 0 STEWART ASHKENAZY TRUSTEE 1.00 X 0 0 0 VALERIE THOMPSON EXECUTIVE DIRECTOR 40.00 X 145690 0 6431 JASON LEPPIN PRIOR EXECUTIVE DIRECTOR 1.00 X 230635 0 14375 376325 0 20806 2 0 1 0 INSTITUTE OF COMPETITION SCIENCES 583 OAK PARK DRIVE SAN FRANCISCO CA 94131 MTFC AND SCHOLASTIC PROGRAM ACTIVITIES 387362 NIKNACK MARKETING INC 2211 N ELSTON AVE SUITE 208 CHICAGO IL 60614 MARKETING CONSULTING 105899 2 565367 2391166 2956533 146309 146309 5197768 4261698 936070 936070 936070 14000 565367 56114 -42114 -42114 3996798 0 0 1040265 X 840569 840569 6500 6500 372502 76800 149001 146701 1728961 1172399 170784 385778 398395 236823 59233 102339 189984 112935 28910 48139 49762 2688 32941 14133 142961 142961 3945 3945 854312 611280 143299 99733 133871 5647 75663 52561 33537 6702 10807 16028 15368 4281 2614 8473 27263 27263 63641 46058 13285 4298 34881 34881 43991 37921 6070 BAD DEBT 174485 174485 STUDENT AND VOLUNTEER S 61406 61406 STAFF DUES & SUBSCRIPTI 60785 23994 33213 3578 OTHER 38212 23369 13070 1773 24837 7532 2212 15093 5300168 3238983 1156488 904697 255453 186837 354994 1452672 914706 518721 86858 70159 39825 13496 34294 26329 5677271 2993033 55930 36270 7379506 5284021 951099 648288 58051 37792 1009150 686080 X 3340889 1813352 3029467 2784589 6370356 4597941 7379506 5284021 -1303370 -469045 0 X X 0 1 X 1 0 X 4085371 3282578 3271124 3253542 2956533 16849148 4085371 3282578 3271124 3253542 2956533 16849148 1640557 15208591 159557 180048 187935 134257 146309 808106 14849 3735 14000 32584 17689838 0.85970 0.82990 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 8,599. 2020 AMOUNT: $ 735. 2023 AMOUNT: $ 14,000. RETURNED SCHOLARSHIPS - 2019 AMOUNT: $ 6,250. 2020 AMOUNT: $ 3,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39825 13496 26329 26329 LEASE LIABILITY - FINANCE 21135 LEASE LIABILITY - OPERATING 16657 37792 X 3635122 -469045 55200 -413845 4048967 3945 -56114 -52169 3996798 5407537 55200 55200 5352337 3945 -56114 -52169 5300168 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA (U.S. GAAP) REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE FOUNDATION AND RECOGNIZE A TAX LIABILITY IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION, AND HAS CONCLUDED THAT AS OF MAY 31, 2024 AND 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING DIRECT EXPENSES -56,114. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES -56,114. 0 0 0 0 0 0 0 0 0 0 CARRIBEAN ACTUARIAL SCHOLARSHIP 4 6500 WIRE TRANSFER 0 0 0 0 0 0 VIRTUAL GALA 273481 271481 2000 SHAPIRO'S HEROES 305886 293886 12000 12500 7721 35893 579367 565367 14000 12500 7721 35893 56114 -42114 1 CURTIS E. HUNTINGTON SCHOLARSHIPS 10 28500 DIVERSITY SCHOLARSHIPS 61 151000 MODELING THE FUTURE CHALLENGE SCHOLARSHIP 17 59750 STUART A. ROBERTSON SCHOLARSHIPS 5 40000 THE ROBERT D. SHAPIRO MEMORIAL SCHOLARSHIP FUND 7 62500 THE HARDEST MATH PROBLEM STUDENT CONTEST 9 10000 ELIZABETH M. MAURO REIMBURSEMENT PROGRAM 1 1000 STEM STARS ACTUARIAL SCHOLARS PROGRAM 93 430819 KENT AWARDS 1 1000 HELEN GALT AWARDS 19 56000 PART I, LINE 2: MANAGEMENT MONITORS GRANT COMPLIANCE THROUGH REVIEW OF BUDGETARY AND ACTIVITY REPORTS PROVIDED BY THE GRANTEES. X X 0 0 0 0 0 0 0 0 0 JASON LEPPIN PRIOR EXECUTIVE DIRECTOR 220385 0 10250 0 0 0 0 0 14375 0 245010 0 0 0 VALERIE THOMPSON EXECUTIVE DIRECTOR 135440 0 10250 0 0 0 0 0 6431 0 152121 0 0 0 PART I, LINE 3 THE BOARD, OR ITS DESIGNEE(S), WILL ANUALLY EVALUATE AND ASSESS THE EXECUTIVE DIRECTOR'S PERFORMANCE ON AN ANNUAL BASIS AND DETERMINE ANY INCREASE IN THE EXECUTIVE DIRECTOR'S BASE SALARY AND BONUS, IF ANY, FOR THE PRIOR YEAR OF SERVICE IN ACCORDANCE WITH THE FOUNDATION'S POLICIES. FORM 990, PART VI, SECTION B, LINE 11B THE SECRETARY/TREASURER REVEIWS THE 990 ON BEHALF OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE GOVERNING BODY ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 IF REQUESTED, A COPY OF THE 990 IS SENT VIA MAIL OR EMAIL TO THE REQUESTING PARTY. FORM 990, PART IX, LINE 11G PROGRAM - COMPETITION DESIGN: PROGRAM SERVICE EXPENSES 585,940. MANAGEMENT AND GENERAL EXPENSES 64,309. FUNDRAISING EXPENSES 4,000. TOTAL EXPENSES 654,249. EVENT SERVICES: PROGRAM SERVICE EXPENSES 9,183. MANAGEMENT AND GENERAL EXPENSES 28,625. FUNDRAISING EXPENSES 34,692. TOTAL EXPENSES 72,500. RECRUITING AND STAFFING: PROGRAM SERVICE EXPENSES 7,226. MANAGEMENT AND GENERAL EXPENSES 22,525. FUNDRAISING EXPENSES 27,300. TOTAL EXPENSES 57,051. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 8,931. MANAGEMENT AND GENERAL EXPENSES 27,840. FUNDRAISING EXPENSES 33,741. TOTAL EXPENSES 70,512. FORM 990, PART XII, LINE 2C: THE ORGANIZATION NEITHER CHANGED THE OVERSIGHT PROCESS OR THE SELECTION PROCESS DURING THE TAX YEAR.