Civic Intelligence

The Actuarial Foundation

990 • Fiscal year 2015 • EIN 36-3968441

Jan 01, 2015 to Dec 31, 2015 • Filed on May 12, 2016

Organization Profilewww.actuarialfoundation.org
475 N Martingale Rd Ste 500 SuiteSchaumburg, IL 60173

(847) 706-3557

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

26th percentile

0.03x

Higher debt load relative to assets than 26% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

54th percentile

0.22x

Higher debt load relative to revenue than 54% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

13th percentile

-18%

Higher net margin than 13% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

19th percentile

$0

Higher top officer pay than 19% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

33rd percentile

-2.4%

Faster asset growth than 33% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

5th percentile

-49%

Faster revenue growth than 5% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets26th percentile

Assets

Down

$5,766,629

Down $140,381 (-2.4%) from 2014

Net Assets

Down

$5,568,076

Down $155,930 (-2.7%) from 2014

Liabilities

Up

$198,553

Up $15,549 (+8.5%) from 2014

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin13th percentile

Revenue

Down

$922,453

Down $887,421 (-49%) from 2014

Expenses

Down

$1,088,521

Down $77,663 (-6.7%) from 2014

Net Income

Down

-$166,068

Down $809,758 (-126%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2012: $4,793,253Liabilities 2012: $132,392Net Assets 2012: $4,660,8612012Assets 2014: $5,907,010Liabilities 2014: $183,004Net Assets 2014: $5,724,0062014Assets 2015: $5,766,629Liabilities 2015: $198,553Net Assets 2015: $5,568,0762015Assets 2016: $6,326,711Liabilities 2016: $255,295Net Assets 2016: $6,071,4162016Assets 2017: $6,982,766Liabilities 2017: $480,162Net Assets 2017: $6,502,6042017Assets 2018: $6,554,646Liabilities 2018: $447,270Net Assets 2018: $6,107,3762018Assets 2019: $9,108,248Liabilities 2019: $274,365Net Assets 2019: $8,833,8832019Assets 2021: $10,250,816Liabilities 2021: $396,420Net Assets 2021: $9,854,3962021Assets 2022: $9,127,147Liabilities 2022: $727,009Net Assets 2022: $8,400,1382022Assets 2023: $7,379,506Liabilities 2023: $1,009,150Net Assets 2023: $6,370,3562023Assets 2024: $5,284,021Liabilities 2024: $686,080Net Assets 2024: $4,597,9412024

Highlighted filing

2015

Assets$5,766,629
Liabilities$198,553
Net Assets$5,568,076
Open 2015 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2012: $1,052,4752012Revenue 2014: $1,809,874Expenses 2014: $1,166,184Net Income 2014: $643,6902014Revenue 2015: $922,453Expenses 2015: $1,088,521Net Income 2015: -$166,0682015Revenue 2016: $1,236,343Expenses 2016: $1,036,910Net Income 2016: $199,4332016Revenue 2017: $1,246,712Expenses 2017: $1,511,507Net Income 2017: -$264,7952017Revenue 2018: $1,729,691Expenses 2018: $1,736,584Net Income 2018: -$6,8932018Revenue 2019: $4,259,729Expenses 2019: $2,509,316Net Income 2019: $1,750,4132019Revenue 2021: $2,780,506Expenses 2021: $2,705,605Net Income 2021: $74,9012021Revenue 2022: $3,775,493Expenses 2022: $4,248,343Net Income 2022: -$472,8502022Revenue 2023: $3,853,775Expenses 2023: $5,262,124Net Income 2023: -$1,408,3492023Revenue 2024: $3,996,798Expenses 2024: $5,300,168Net Income 2024: -$1,303,3702024

Highlighted filing

2015

Revenue$922,453
Expenses$1,088,521
Net Income-$166,068
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 12, 2016
Return Version
2015v2.1
Gross Receipts
$2,321,735
Mission and Program Overview

Mission

The actuarial foundation, a 501(c)(3) organization, is a philanthropic partner of the actuarial professionin the united states. Since 1994, the foundation has led the way to create quality math education initiatives for students, teachers, and families. Our mission is to unleash the power of math education and transform futures by leveraging the talents and resources of the actuarial community. Our vision is a future where everyone experiences confidence and opportunities available through math proficiency.

We offer teachers free math enhancement materials for their classrooms. We provide insight for consumers to efficiently manange changing economic situations. (See Schedule O).

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,158,458$5,375,576▲ $217,118
Pledges and Grants Receivable$43,721$142,838▲ $99,117
Savings and Temporary Cash Investments$551,009$131,372▼ $419,637
Cash and Non-Interest-Bearing Accounts$138,411$112,338▼ $26,073
Prepaid Expenses and Deferred Charges$15,411$4,505▼ $10,906
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$5,907,010$5,766,629▼ $140,381
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$181,004$198,553▲ $17,549
Deferred Revenue$2,000$0▼ $2,000
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$183,004$198,553▲ $15,549
Net Assets / Fund Balance
Unrestricted Net Assets$3,572,638$3,382,643▼ $189,995
Temporarily Rstr Net Assets$2,151,368$2,185,433▲ $34,065
Permanently Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$5,724,006$5,568,076▼ $155,930
Total Liabilities and Net Assets / Fund Balance$5,907,010$5,766,629▼ $140,381
Compensation and Service Providers
Top Officer Pay19th percentile

Board Members and Trustees

NameTitle
Helen GaltChair
Doug FrenchChair-Elect
Amanda YoungTrustee
Barry JacobsonTrustee
Brian DonlanTrustee
Carol SearsTrustee
Cecil BykerkTrustee
Charles MarinoTrustee
Dale YamamotoTrustee
David FishbaumTrustee
David SandbergTrustee
Greig WoodringTrustee
James ForbushTrustee
Jane HamrickTrustee
John EhrhardtTrustee
John KollarTrustee
John SchubertTrustee
Joseph NicholsTrustee
Kevin CormierTrustee
Lisa PawlowskiTrustee
Maureen HagerTrustee
Michael FuscoTrustee
Michael McLaughlin JrTrustee
Robert DeutschTrustee
Ronald BachmanTrustee
Sarah HamidTrustee
Steve SchreiberTrustee
Thomas CorcoranTrustee
Warren LucknerTrustee
Jacques Goulet JrSecretary-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$921,661
Program Service Revenue
$0
Investment Income
$1,703
Other Revenue
$-911
All Other Contributions
$860,461
Change in Net Assets
$-166,068

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4$27,255Stock Market Value
Total Noncash Contributions4$27,255-

Audited Revenue Reconciliation

Revenue per Audited Statements
$961,774
Revenue Not Reported on Financial Statements
$-39,321
Revenue Not Reported on Form 990
$525,996
Other Revenue Adjustments
$-49,459
Total Revenue per Audited Statements
$1,487,770
Total Revenue per Form 990
$922,453
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$552,395
Other Expenses$536,126
Total Fundraising Expense$21,805
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$508,505--$508,505
Office Expenses$171,364$14,664$13,559$199,587
Conferences and Meetings$3,163$30,178-$33,341
Foreign Grants$29,083--$29,083
Other Expenses$23,061$3,339$8,246$23,061
Fees for Services Legal-$14,867-$14,867
Grants to Domestic Individuals$14,807--$14,807
Travel$5,405$8,974-$14,379
Insurance-$10,377-$10,377
Advertising-$8,110-$8,110
Information Technology-$7,047-$7,047
All Other Expenses-$183-$183
Total Functional Expenses$847,625$219,091$21,805$1,088,521

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,653,838
Expenses per Audited Statements$1,127,842
Total Expenses per Form 990$1,088,521
Expenses Not Reported on Form 990$525,996
Expenses Not Reported on Financial Statements$-39,321
Other Expense Adjustments$-49,459
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Scholastic IncNew York, NY501(c)(3)Support Grant$251,667
Southington Public School DistrictSouthington, CT501(c)(3)Support Grant$36,135
Hope Academy Charter SchoolAsbury Park, NJ501(c)(3)Support Grant$9,831
Anderson School District Five for LakesideAnderson, SC501(c)(3)Support Grant$9,650
Friends of Columbia Secondary SchoolNew York, NY501(c)(3)Support Grant$9,500
Univeristy of Wisconsin - MilwaukeeMilwaukee, WI501(c)(3)Research Grant$9,000
University of Nebraska - LincolnLincoln, NE501(c)(3)Scholarship$9,000
University of Illinois Urbana-ChampaignChampaign, IL501(c)(3)Research Grant$7,000
Immaculate Heart Central SchoolsWatertown, NY501(c)(3)Research Grant$6,340
University of Wisconsin - MadisonMadison, WI501(c)(3)Research Grant$6,330

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$49,459
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Refocus Event$61,200-$49,459-
Total Events$61,200-$49,459$-49,459
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B:

“The Secretary/Treasurer has reviewed the 990 on behalf of the Board.”

Form 990, Part VI, Section B, Line 12A:

“Members of the governing body are required to sign a conflict of interest statement annually.”

Form 990, Part VI, Section B, Line 12C:

“The Compensation Committee gathers information regarding the Executive Director's salary annually and documents performance along with any merit increase.”

Form 990, Part VI, Section C, Line 19:

“If requested, a copy of the 990 is sent via mail or email to the party requesting.”

Filing and Contact Details

Filer

Filer Name
The Actuarial Foundation
EIN
36-3968441
In Care Of
% TIFFANY BERGER
Phone
8477063557
Address
475 N Martingale Rd Ste 500 Suite, Schaumburg, IL 60173

Signing Officer

Name
Jason Leppin
Title
Executive Director
Phone
8477063557
Signed
2016-05-12

Organization Details

Principal Officer
Jason Leppin
Formed
1994
Legal Domicile
Il
Voting Board Members
30
Independent Board Members
30
Employees
0
Volunteers
165

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
205 N Michigan Ave 28th Floor, Chicago, IL 60601-5927
Preparer
Mark Heroux
Phone
8477063557
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1:

“We provide actuaries, researchers, and students the opportunity to benefit from awards and scholarships.”

Form 990, Part III, Line 4D:

“Scholarships - Scholarships are provided to students who have a strong affinity for math and/or who wish to pursue the actuarial science field to recognize and encourage the academic achievements of undergraduate students. Through four scholarship programs, 58 students were awarded scholarships to offset the cost of their education. Expenses: $180,369 Grants of: $140,653. General Foundation Newsletter - This is a quarterly newsletter that highlights the work of The Actuarial Foundation. Content provides the reader with current Foundation activities, impacts made from the grant program, and how to whom the programs of the Foundation have been disseminated. Expenses: $10,056”

Financial Statement Notes

Schedule D, Part XI, Line 4B:

“Special Event Expense: $49,459”

Schedule D, Part XII, Line 4B:

“Special Event Expense: $49,459”

Schedule D, Part X, Line 2:

“The Foundation follows the accounting standards for contingencies in evaluating uncertain tax positions. The guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the Foundation for uncertain tax positions as of December 31, 2015 and 2014. The Foundation's tax returns are subject to review and examination by federal and state authorities. The tax returns for the current year as well as fiscal years 2012 and thereafter are open to examination by federal and state authorities.”

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IRS990/Form990PartVIISectionAGrp/PersonNm20David Fishbaum
IRS990/Form990PartVIISectionAGrp/PersonNm21Jane Hamrick
IRS990/Form990PartVIISectionAGrp/PersonNm22Joseph Nichols
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IRS990/MissionDesc0WE OFFER TEACHERS FREE MATH ENHANCEMENT MATERIALS FOR THEIR CLASSROOMS. WE PROVIDE INSIGHT FOR CONSUMERS TO EFFICIENTLY MANAGE CHANGING ECONOMIC SITUATIONS. WE PROVIDE ACTUARIES, RESEARCHERS, AND STUDENTS THE OPPORTUNITY TO BENEFIT FROM AWARDS AND SCHOLARSHIPS.
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,766,629
Liabilities
$198,553
Net assets
$5,568,076
Revenue
$922,453
Expenses
$1,088,521
Net income
-$166,068
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.28$0.69$4.60$4.00$5.30$1.30
2023Detailed filing. Detailed filing data is available for this year.$7.38$1.01$6.37$3.85$5.26$1.41
2022Detailed filing. Detailed filing data is available for this year.$9.13$0.73$8.40$3.78$4.25$0.47
2021Detailed filing. Detailed filing data is available for this year.$10.3$0.40$9.85$2.78$2.71$0.07
2019Detailed filing. Detailed filing data is available for this year.$9.11$0.27$8.83$4.26$2.51$1.75
2018Detailed filing. Detailed filing data is available for this year.$6.55$0.45$6.11$1.73$1.74$0.01
2017Detailed filing. Detailed filing data is available for this year.$6.98$0.48$6.50$1.25$1.51$0.26
2016Detailed filing. Detailed filing data is available for this year.$6.33$0.26$6.07$1.24$1.04$0.20
2015Detailed filing. Detailed filing data is available for this year.$5.77$0.20$5.57$0.92$1.09$0.17
2014Detailed filing. Detailed filing data is available for this year.$5.91$0.18$5.72$1.81$1.17$0.64
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.79$0.13$4.66$1.05