Civic Intelligence

The Actuarial Foundation

990 • Fiscal year 2022 • EIN 36-3968441

Jun 01, 2021 to May 31, 2022 • Filed on Mar 15, 2023

475 N Martingale Road 600Schaumburg, IL 60173

(847) 706-3535

Siviq Scores

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

Liabilities / Assets

42nd percentile

0.08x

Higher debt load relative to assets than 42% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

54th percentile

0.19x

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

17th percentile

-13%

Higher net margin than 17% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

17th percentile

-11%

Faster asset growth than 17% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

80th percentile

36%

Faster revenue growth than 80% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$9,127,147

Down $1,123,669 (-11%) from 2021

Net Assets

Down

$8,400,138

Down $1,454,258 (-15%) from 2021

Liabilities

Up

$727,009

Up $330,589 (+83%) from 2021

Revenue

Up

$3,775,493

Up $994,987 (+36%) from 2021

Expenses

Up

$4,248,343

Up $1,542,738 (+57%) from 2021

Net Income

Down

-$472,850

Down $547,751 (-731%) from 2021

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

2022

Assets$9,127,147
Liabilities$727,009
Net Assets$8,400,138

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

2022

Revenue$3,775,493
Expenses$4,248,343
Net Income-$472,850
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Mar 15, 2023
Return Version
2021v4.2
Gross Receipts
$4,069,059
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$7,563,813$6,835,650▼ $728,163
Pledges and Grants Receivable$1,370,561$1,189,266▼ $181,295
Savings and Temporary Cash Investments$715,808$754,165▲ $38,357
Cash and Non-Interest-Bearing Accounts$558,372$275,404▼ $282,968
Prepaid Expenses and Deferred Charges$36,177$72,662▲ $36,485
Land, Buildings, and Equipment, Net$6,085$0▼ $6,085
Total Assets$10,250,816$9,127,147▼ $1,123,669
Liabilities
Accounts Payable and Accrued Expenses$396,420$727,009▲ $330,589
Total Liabilities$396,420$727,009▲ $330,589
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,045,445$5,777,260▼ $268,185
Net Assets With Donor Restrictions$3,808,951$2,622,878▼ $1,186,073
Total Net Assets Fund Balance$9,854,396$8,400,138▼ $1,454,258
Total Liabilities and Net Assets / Fund Balance$10,250,816$9,127,147▼ $1,123,669

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$15,330$15,330
Compensation and Service Providers

Highest Paid Contractors

ContractorServicesLocationCompensation
Precision Global ConsultingConsulting98 SAN JACINTO BLVD 4TH FLOOR, Austin, TX 78701$325,180
Scholastic INCEducational Solutions555 BROADWAY, New York, NY 10012$300,485
Institute Of Competition SciencesCompetition Design And Operations8 LOCKSLEY AVE 10G, San Francisco, CA 94122$254,552
Plus Ultre LLCConsulting511 CRESHEIM VALLEY ROAD, Wyndmoor, PA 19038$143,750
Revenue and Support

Revenue Composition

Contributions and Grants
$3,271,124
Program Service Revenue
$0
Investment Income
$504,369
Other Revenue
$0
All Other Contributions
$3,271,124
Change in Net Assets
$-472,850

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,752,235
Revenue Not Reported on Financial Statements
$23,258
Revenue Not Reported on Form 990
$-606,408
Total Revenue per Audited Statements
$3,145,827
Total Revenue per Form 990
$3,775,493
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,917,043
Total Fundraising Expense$340,391
Grants and Similar Amounts Paid$331,300
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$778,102$213,954$124,643$1,116,699
Office Expenses$489,178$48,632$13,419$551,229
Grants to Domestic Individuals$318,300--$318,300
Advertising$19,501$87,157$26,100$132,758
Information Technology$65,955$26,815$29,261$122,031
Fees for Services Accounting-$76,759-$76,759
Travel$21,727$41,722$85$63,534
Fees for Services Legal$418$25,278$15,875$41,571
Fees for Service Investment Mgmnt Fees-$23,258-$23,258
Insurance$12$16,377-$16,389
All Other Expenses$11,780$3,011-$14,791
Foreign Grants$13,000--$13,000
Other Expenses$219$2,358$170$2,747
Total Functional Expenses$2,669,942$1,238,010$340,391$4,248,343

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,600,085
Total Expenses per Form 990$4,248,343
Expenses per Audited Statements$4,225,085
Expenses Not Reported on Form 990$375,000
Expenses Not Reported on Financial Statements$23,258
International Activity

International Summary

Offices
0
Employees
0
Spending
$13,000

International Compliance

Foreign grant records maintained
Yes
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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanGrants to Recipients in the RegionGrants to Recipients in the Region00$13,000
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 aspects of the foundation in accordance with the organization's bylaws and policies. Operations may include but are not limited to administration, education, fundraising, and information technology. A portion of the services are provided donated by the soa. Any services provided in excess of the agreed upon annual contribution is reimbursed to the soa.

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.

Filing and Contact Details

Filer

Filer Name
The Actuarial Foundation
EIN
36-3968441
Phone
8477063535
Address
475 N MARTINGALE ROAD 600, SCHAUMBURG, IL 60173

Signing Officer

Name
Jason Leppin
Title
Executive Director
Phone
8477063535
Signed
2023-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Leppin
Formed
1994
Legal Domicile
Il
Voting Board Members
30
Independent Board Members
30
Employees
0
Volunteers
1,500

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 operations: program service expenses 320,229. Management and general expenses 0. Fundraising expenses 0. Total expenses 320,229. Consulting services: program service expenses 69,866. Management and general expenses 130,537. Fundraising expenses 0. Total expenses 200,403. Other professional fees: program service expenses 0. Management and general expenses 78,507. Fundraising expenses 49,076. Total expenses 127,583. Professional services - temporary help: program service expenses 388,007. Management and general expenses 4,910. Fundraising expenses 75,567. Total expenses 468,484.

FORM 990, 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, 2022 and 2021, 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/OtherCompensationAmt240
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt250
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt260
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt270
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt290
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IRS990/Form990PartVIISectionAGrp/PersonNm2DEWAYE ULLSPERGER ASA MAAA FSA
IRS990/Form990PartVIISectionAGrp/PersonNm3ANDY FERRIS FSA MAAA FCA
IRS990/Form990PartVIISectionAGrp/PersonNm4JEFFREY JOHNSON MAAA FSA
IRS990/Form990PartVIISectionAGrp/PersonNm5CHAD C WISCHMEYER FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm6JOANNE SPALLA MAAA FCAS
IRS990/Form990PartVIISectionAGrp/PersonNm7MICHAEL SMITH FSA MAAA CFA
IRS990/Form990PartVIISectionAGrp/PersonNm8ERIC C SHERMAN FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm9PATRICIA ROTELLO FCA FSA EA IAA
IRS990/Form990PartVIISectionAGrp/PersonNm10NADINE ORLOFF FAS EA MAAA FCA
IRS990/Form990PartVIISectionAGrp/PersonNm11KATHY ODOMIROK FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm12BENJAMIN YBARRA
IRS990/Form990PartVIISectionAGrp/PersonNm13OLGA T JACOBS FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm14JEREMY ENGDAHL-JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm15SHARON ROBINSON FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm16TED A LYLE FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm17NORA BENANTI FCAS
IRS990/Form990PartVIISectionAGrp/PersonNm18ANDIE CHRISTOPHERSON FSA MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm19BOB CONGER FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm20KELLY CUSICK ACAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm21ALEXANDER DEWITT FCAS
IRS990/Form990PartVIISectionAGrp/PersonNm22CYNTHIA EDWALDS FSA FCAS MAAA
IRS990/Form990PartVIISectionAGrp/PersonNm23STEVE EISENSTEIN FCA MAAA FSA EA
IRS990/Form990PartVIISectionAGrp/PersonNm24EMILY GINGRICH FSA EA FCA
IRS990/Form990PartVIISectionAGrp/PersonNm25RICHARD JONES FSA EA
IRS990/Form990PartVIISectionAGrp/PersonNm26JESSICA LEONG
IRS990/Form990PartVIISectionAGrp/PersonNm27JERRY MINGIONE FCA MAAA FSA EA
IRS990/Form990PartVIISectionAGrp/PersonNm28CANDE OLSEN FSA MAAA CLU
IRS990/Form990PartVIISectionAGrp/PersonNm29STEVE WHITE
IRS990/Form990PartVIISectionAGrp/PersonNm30JASON LEPPIN
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIR-ELECT
IRS990/Form990PartVIISectionAGrp/TitleTxt2IAA - TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
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/TitleTxt23TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt27CERA, TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt28TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt29TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt30EXECUTIVE DIRECTOR
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IRS990/FormationYr01994
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IRS990/FSAuditedInd01
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
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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/MoreThan5000KToOrgInd00
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IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt06045445
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt05777260
IRS990/NoListedPersonsCompensatedInd0X

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