Civic Intelligence

The Actuarial Foundation

990 • Fiscal year 2021 • EIN 36-3968441

Jun 01, 2020 to May 31, 2021 • Filed on Apr 14, 2022

475 N Martingale Rd No 600Schaumburg, IL 60173

(847) 706-3535

Siviq Scores

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

Liabilities / Assets

27th percentile

0.04x

Higher debt load relative to assets than 27% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

39th percentile

0.14x

Higher debt load relative to revenue than 39% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

29th percentile

2.7%

Higher net margin than 29% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

40th percentile

6.1%

Faster asset growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2021

Revenue Growth

12th percentile

-19%

Faster revenue growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2021

Assets

Up

$10,250,816

Up $1,142,568 (+13%) from 2019

Net Assets

Up

$9,854,396

Up $1,020,513 (+12%) from 2019

Liabilities

Up

$396,420

Up $122,055 (+44%) from 2019

Revenue

Down

$2,780,506

Down $1,479,223 (-35%) from 2019

Expenses

Up

$2,705,605

Up $196,289 (+7.8%) from 2019

Net Income

Down

$74,901

Down $1,675,512 (-96%) from 2019

Historical Trend

Balance Sheet Trend

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

2021

Assets$10,250,816
Liabilities$396,420
Net Assets$9,854,396

Operations Trend

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

2021

Revenue$2,780,506
Expenses$2,705,605
Net Income$74,901
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Apr 14, 2022
Return Version
2020v4.2
Gross Receipts
$3,345,689
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.

Changing lives through math education (see schedule o for the organization's full mission statement)

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,023,412$7,563,813▲ $1,540,401
Pledges and Grants Receivable$1,928,638$1,370,561▼ $558,077
Savings and Temporary Cash Investments$1,079,148$715,808▼ $363,340
Cash and Non-Interest-Bearing Accounts$95,999$558,372▲ $462,373
Prepaid Expenses and Deferred Charges$30,382$36,177▲ $5,795
Land, Buildings, and Equipment, Net$6,085$6,085→ $0
Total Assets$9,163,664$10,250,816▲ $1,087,152
Liabilities
Accounts Payable and Accrued Expenses$566,875$396,420▼ $170,455
Total Liabilities$566,875$396,420▼ $170,455
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,070,112$6,045,445▲ $1,975,333
Net Assets With Donor Restrictions$4,526,677$3,808,951▼ $717,726
Total Net Assets Fund Balance$8,596,789$9,854,396▲ $1,257,607
Total Liabilities and Net Assets / Fund Balance$9,163,664$10,250,816▲ $1,087,152

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,085$20,309$26,394
Compensation and Service Providers

Highest Paid Contractors

ContractorServicesLocationCompensation
Institute Of Competition SciencesCompetition Design And Operations8 LOCKSLEY AVE 10G, San Francisco, CA 94122$129,750
Steier GroupCampaign Fundraising10844 OLD MILL ROAD, Omaha, NE 68154$108,850
Revenue and Support

Revenue Composition

Contributions and Grants
$2,355,930
Program Service Revenue
$0
Investment Income
$424,576
Other Revenue
$0
All Other Contributions
$2,355,930
Change in Net Assets
$74,901

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,760,946
Revenue Not Reported on Financial Statements
$19,560
Revenue Not Reported on Form 990
$1,578,123
Total Revenue per Audited Statements
$4,339,069
Total Revenue per Form 990
$2,780,506
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,382,394
Grants and Similar Amounts Paid$323,211
Total Fundraising Expense$137,464
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$674,650$59,096$3,759$737,505
Grants to Domestic Individuals$305,250--$305,250
Advertising$4,448$58,779$39,439$102,666
Information Technology$33,352$43,449$6,430$83,231
Fees for Services Accounting-$51,732-$51,732
Fees for Services Legal-$40,624-$40,624
Office Expenses$1,587$28,950-$30,537
Fees for Service Investment Mgmnt Fees-$19,560-$19,560
Other Expenses$56,062$19,444$15,599$19,444
All Other Expenses$3,422$15,950-$19,372
Insurance-$9,601-$9,601
Foreign Grants$9,500--$9,500
Grants to Domestic Orgs$8,461--$8,461
Travel$3,206--$3,206
Occupancy-$1,250-$1,250
Total Functional Expenses$1,851,318$716,823$137,464$2,705,605

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,081,462
Total Expenses per Form 990$2,705,605
Expenses per Audited Statements$2,686,045
Expenses Not Reported on Form 990$395,417
Expenses Not Reported on Financial Statements$19,560
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The University of Texas at DallasRichardson, TXN/aGrant to Support Statistical Methods for Gaining Precision in Credibility Estimation$8,461

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

Foreign grant records maintained
No
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
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The society of actuaries (soa) is an an organization affiliated with the foundation which manages all aspects of the foundation in accordance with the organization's bylaws and policies. Operations may include but are not limited to administration, finance and accounting, education, fundraising, and information technology. Soa employees provide these services and total reimbursements paid to soa for staff salaries were $428,662.

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

The secretary/treasurer reviews 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.

Filing and Contact Details

Filer

Filer Name
The Actuarial Foundation
EIN
36-3968441
Phone
8477063535
Address
475 N MARTINGALE RD NO 600, SCHAUMBURG, IL 60173

Signing Officer

Name
Jason Leppin
Title
Executive Director
Phone
8477063535
Signed
2022-04-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Leppin
Formed
1994
Legal Domicile
Il
Voting Board Members
27
Independent Board Members
27
Employees
0
Volunteers
1,172

Preparer

Firm
Cliftonlarsonallen Llp
Address
1301 WEST 22ND STREET SUITE 1100, OAK BROOK, IL 60523
Preparer
Melissa Struck
Phone
6305738600
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Competition design and program support: program service expenses 274,860. Management and general expenses 0. Fundraising expenses 0. Total expenses 274,860. Other consulting services: program service expenses 116,797. Management and general expenses 0. Fundraising expenses 0. Total expenses 116,797. Other professional fees: program service expenses 81,257. Management and general expenses 59,096. Fundraising expenses 3,759. Total expenses 144,112. Professional services - temporary help: program service expenses 201,736. Management and general expenses 0. Fundraising expenses 0. Total expenses 201,736.

Part XII, Line 2C

The organization neither changed the oversight process or the selection process during the tax year.

Financial Statement Notes

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, 2021 and 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.

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IRS990/Desc0EDUCATION - 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.
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IRS990/Form990PartVIISectionAGrp/PersonNm3JEFFREY JOHNSON MAAA FSA
IRS990/Form990PartVIISectionAGrp/PersonNm4CLARK SLIPHER FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm5SHARON ROBINSON FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm6SANDA Z BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm7RICHARD DE HAAN FSA FIA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm8BRIAN DONLAN FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm9JEREMY ENGDAHL-JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm10TIMOTHY L GRAHAM
IRS990/Form990PartVIISectionAGrp/PersonNm11SARAH J HAMID FSA FCIA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm12OLGA T JACOBS FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm13BARRY JACOBSON FSA
IRS990/Form990PartVIISectionAGrp/PersonNm14TED A LYLE FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm15TONYA MANNING FSA FCA EA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm16ROOSEVELT MOSLEY FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm17KATHY ODOMIROK FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm18NADINE ORLOFF FAS EA MAAA FCA
IRS990/Form990PartVIISectionAGrp/PersonNm19PATRICIA ROTELLO FCA FSA EA IAA
IRS990/Form990PartVIISectionAGrp/PersonNm20ERIC C SHERMAN FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm21MICHAEL SMITH FSA MAAA CFA
IRS990/Form990PartVIISectionAGrp/PersonNm22JOANNE SPALLA MAAA FCAS
IRS990/Form990PartVIISectionAGrp/PersonNm23DEWAYE ULLSPERGER ASA MAAA FSA
IRS990/Form990PartVIISectionAGrp/PersonNm24CHAD C WISCHMEYER FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm25SUSAN WITCRAFT FCAS CERA
IRS990/Form990PartVIISectionAGrp/PersonNm26BENJAMIN YBARRA
IRS990/Form990PartVIISectionAGrp/PersonNm27JASON LEPPIN
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR-ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt4IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt19TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt23IAA - TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27EXECUTIVE DIRECTOR
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IRS990/FormationYr01994
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IRS990/FSAuditedInd01
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IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE 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.
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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt030382
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt036177

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