Civic Intelligence

Future Founders Foundation

990 • Fiscal year 2018 • EIN 45-3340650

Jul 01, 2017 to Jun 30, 2018 • Filed on May 09, 2019

Organization ProfileWWW.FUTUREFOUNDERS.COM
222 W Merchandise Mart Plz Ste 1212Chicago, IL 60654

(312) 350-0334

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$1,057,724

Flat from 2018

Net Assets

Flat

$949,119

Flat from 2018

Liabilities

Flat

$108,605

Flat from 2018

Revenue And Expenses

Revenue

Flat

$906,986

Flat from 2018

Expenses

Flat

$778,704

Flat from 2018

Net Income

Flat

$128,282

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $112,526Liabilities 2012: $02012Assets 2013: $452,341Liabilities 2013: $40,848Net Assets 2013: $411,4932013Assets 2014: $493,106Liabilities 2014: $27,250Net Assets 2014: $465,8562014Assets 2015: $696,287Liabilities 2015: $116,577Net Assets 2015: $579,7102015Assets 2016: $739,856Liabilities 2016: $61,756Net Assets 2016: $678,1002016Assets 2017: $892,656Liabilities 2017: $71,819Net Assets 2017: $820,8372017Assets 2018: $1,057,724Liabilities 2018: $108,605Net Assets 2018: $949,1192018Assets 2018: $1,057,724Liabilities 2018: $108,605Net Assets 2018: $949,1192018Assets 2019: $1,192,400Liabilities 2019: $167,815Net Assets 2019: $1,024,5852019Assets 2020: $1,569,885Liabilities 2020: $245,386Net Assets 2020: $1,324,4992020Assets 2021: $1,823,527Liabilities 2021: $341,990Net Assets 2021: $1,481,5372021Assets 2022: $2,133,444Liabilities 2022: $582,524Net Assets 2022: $1,550,9202022Assets 2023: $1,793,848Liabilities 2023: $217,706Net Assets 2023: $1,576,1422023Assets 2024: $2,007,080Liabilities 2024: $324,549Net Assets 2024: $1,682,5312024

Highlighted filing

2018

Assets$1,057,724
Liabilities$108,605
Net Assets$949,119
Open 2018 Filing

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Revenue 2012: $112,526Expenses 2012: $0Net Income 2012: $112,5262012Revenue 2013: $530,520Expenses 2013: $392,984Net Income 2013: $137,5362013Revenue 2014: $533,097Expenses 2014: $478,734Net Income 2014: $54,3632014Revenue 2015: $835,724Expenses 2015: $721,870Net Income 2015: $113,8542015Revenue 2016: $833,154Expenses 2016: $734,764Net Income 2016: $98,3902016Revenue 2017: $858,936Expenses 2017: $716,199Net Income 2017: $142,7372017Revenue 2018: $906,986Expenses 2018: $778,704Net Income 2018: $128,2822018Revenue 2018: $906,986Expenses 2018: $778,704Net Income 2018: $128,2822018Revenue 2019: $1,071,684Expenses 2019: $996,218Net Income 2019: $75,4662019Revenue 2020: $1,380,267Expenses 2020: $1,080,353Net Income 2020: $299,9142020Revenue 2021: $1,919,326Expenses 2021: $1,762,288Net Income 2021: $157,0382021Revenue 2022: $1,843,017Expenses 2022: $1,773,634Net Income 2022: $69,3832022Revenue 2023: $1,387,744Expenses 2023: $1,362,522Net Income 2023: $25,2222023Revenue 2024: $1,466,970Expenses 2024: $1,360,581Net Income 2024: $106,3892024

Highlighted filing

2018

Revenue$906,986
Expenses$778,704
Net Income$128,282
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
May 9, 2019
Return Version
2017v2.3
Gross Receipts
$906,986
Mission and Program Overview

Mission

The organization believes every youth can become an entrepreneur.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$760,357$983,488▲ $223,131
Cash and Non-Interest-Bearing Accounts$88,051$65,830▼ $22,221
Pledges and Grants Receivable$35,000--
Prepaid Expenses and Deferred Charges$9,248$8,406▼ $842
Total Assets$892,656$1,057,724▲ $165,068
Liabilities
Accounts Payable and Accrued Expenses$71,819$108,605▲ $36,786
Total Liabilities$71,819$108,605▲ $36,786
Net Assets / Fund Balance
Unrestricted Net Assets$615,837$774,119▲ $158,282
Temporarily Rstr Net Assets$205,000$175,000▼ $30,000
Total Net Assets Fund Balance$820,837$949,119▲ $128,282
Total Liabilities and Net Assets / Fund Balance$892,656$1,057,724▲ $165,068
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Scott IssenPresident &FT$125,434$125,434

Board Members and Trustees

NameTitle
Brad KeywellChairman
Heidi HattendorfDirector
JAMES O'CONNOR JRDirector
Karl DarinDirector
Maria BurudDirector
Mark HoytDirector
Matthew GoldfineDirector
Phyllis LockettDirector
William RidgwayDirector
Kevin WillerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$899,319
Program Service Revenue
$3,124
Investment Income
$4,543
Other Revenue
$0
All Other Contributions
$899,319
Change in Net Assets
$128,282

Audited Revenue Reconciliation

Revenue per Audited Statements
$906,986
Revenue Not Reported on Form 990
$29,112
Total Revenue per Audited Statements
$936,098
Total Revenue per Form 990
$906,986
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$481,570
Other Expenses$247,734
Grants and Similar Amounts Paid$49,400
Total Fundraising Expense$2,620
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$349,585$948-$350,533
Current Officers, Directors, Trustees, and Key Employees$125,796$2,621$2,620$131,037
Grants to Domestic Individuals$49,400--$49,400
Other Expenses$17,573$15,360-$32,933
Occupancy$32,287--$32,287
Advertising$5,115$611-$5,726
Total Functional Expenses$755,605$20,479$2,620$778,704

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$807,816
Expenses per Audited Statements$778,704
Total Expenses per Form 990$778,704
Expenses Not Reported on Form 990$29,112
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 family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“The completed form 990 is provided to and reviewed by the entire board of directors before filing.”

Form 990, Page 6, Part VI, Line 12C

“The organization has a conflict of interest policy, all members are required to sign annually.”

Form 990, Page 6, Part VI, Line 15A

“Salaries are part of the budgetary process and all salaries are approved by the board of directors who look at comparative salaries as well.”

Form 990, Page 6, Part VI, Line 15B

“Salaries are part of the budgetary process and all salaries are approved by the board of directors who look at comparative salaries as well.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Future Founders Foundation
EIN
45-3340650
Phone
3123500334
Address
222 W MERCHANDISE MART PLZ STE 1212, CHICAGO, IL 60654

Signing Officer

Name
Scott Issen
Title
President & CEO
Phone
3123500334
Signed
2019-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Issen
Formed
2011
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
10
Employees
19
Volunteers
150

Preparer

Firm
Kopczyk Osher & Scott Cpas
Address
4415 HARRISON ST STE 544, HILLSIDE, IL 60162-1920
Preparer
Rodney C Scott
Phone
3125270111
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Future founders foundation is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. Future founders foundation has also been classified as an entity that is not a private foundation within the meaning of section 509(a) and qualifies for deductible contributions as provided in section 170(b)(1)(a)(vi). There was no unrelated business income nor unrecognized tax benefits for the year ended june 30, 2018. Future founders prior year remains subject to examination by the internal revenue service.”

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0828594
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0825522
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0532061
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03919255
IRS990ScheduleA/TotalSupportAmt03925123
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt029112
IRS990ScheduleD/DonatedServicesUseFcltsAmt029112
IRS990ScheduleD/ExpensesNotReportedAmt029112
IRS990ScheduleD/ExpensesSubtotalAmt0778704
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt029112
IRS990ScheduleD/RevenueSubtotalAmt0906986
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FUTURE FOUNDERS FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FUTURE FOUNDERS FOUNDATION HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) AND QUALIFIES FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). THERE WAS NO UNRELATED BUSINESS INCOME NOR UNRECOGNIZED TAX BENEFITS FOR THE YEAR ENDED JUNE 30, 2018. FUTURE FOUNDERS PRIOR YEAR REMAINS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalExpensesPerForm990Amt0778704
IRS990ScheduleD/TotalRevenuePerForm990Amt0906986
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0936098
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0807816
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt049400
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0STUDENT SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt033
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COMPLETED FORM 990 IS PROVIDED TO AND REVIEWED BY THE ENTIRE BOARD OF DIRECTORS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY, ALL MEMBERS ARE REQUIRED TO SIGN ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARIES ARE PART OF THE BUDGETARY PROCESS AND ALL SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS WHO LOOK AT COMPARATIVE SALARIES AS WELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARIES ARE PART OF THE BUDGETARY PROCESS AND ALL SALARIES ARE APPROVED BY THE BOARD OF DIRECTORS WHO LOOK AT COMPARATIVE SALARIES AS WELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0175000
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0892656
IRS990/TotalAssetsEOYAmt01057724
IRS990/TotalAssetsGrp/BOYAmt0892656
IRS990/TotalAssetsGrp/EOYAmt01057724
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0899319
IRS990/TotalEmployeeCnt019
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02620
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020479
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0755605
IRS990/TotalFunctionalExpensesGrp/TotalAmt0778704
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt071819
IRS990/TotalLiabilitiesEOYAmt0108605
IRS990/TotalLiabilitiesGrp/BOYAmt071819
IRS990/TotalLiabilitiesGrp/EOYAmt0108605
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0820837
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0949119
IRS990/TotalProgramServiceExpensesAmt0755605
IRS990/TotalProgramServiceRevenueAmt03124
IRS990/TotalReportableCompFromOrgAmt0125434
IRS990/TotalRevenueGrp/ExclusionAmt04543
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03124
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0906986
IRS990/TotalVolunteersCnt0150
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0892656
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01057724
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0615837
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0774119
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0222 W MERCHANDISE MART PLZ STE 1212
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
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IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.FUTUREFOUNDERS.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT ISSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum03123500334
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FUTURE FOUNDERS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0FUTU
ReturnHeader/Filer/EIN0453340650
ReturnHeader/Filer/PhoneNum03123500334
ReturnHeader/Filer/USAddress/AddressLine1Txt0222 W MERCHANDISE MART PLZ STE 1212
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0AB30D77CD1F859BBEDB311568F40D155AD6D1F30
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AB30D77CD1F859BBEDB311568F40D155AD6D1F30
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt08.15.201.90
ReturnHeader/FilingSecurityInformation/IPDt02019-05-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:19:58
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0204206235
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KOPCZYK OSHER & SCOTT CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04415 HARRISON ST STE 544
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HILLSIDE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0601621920
ReturnHeader/PreparerPersonGrp/PhoneNum03125270111
ReturnHeader/PreparerPersonGrp/PreparationDt02019-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RODNEY C SCOTT
ReturnHeader/ReturnTs02019-05-13T13:19:58-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,057,724
Liabilities
$108,605
Net assets
$949,119
Revenue
$906,986
Expenses
$778,704
Net income
$128,282
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.01$0.32$1.68$1.47$1.36$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.79$0.22$1.58$1.39$1.36$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.13$0.58$1.55$1.84$1.77$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.82$0.34$1.48$1.92$1.76$0.16
2020Detailed filing. Detailed filing data is available for this year.$1.57$0.25$1.32$1.38$1.08$0.30
2019Detailed filing. Detailed filing data is available for this year.$1.19$0.17$1.02$1.07$1.00$0.08
2018Detailed filing. Detailed filing data is available for this year.$1.06$0.11$0.95$0.91$0.78$0.13
2018Detailed filing. Detailed filing data is available for this year.$1.06$0.11$0.95$0.91$0.78$0.13
2017Summary only. Only limited summary data is available for this year.$0.89$0.07$0.82$0.86$0.72$0.14
2016Summary only. Only limited summary data is available for this year.$0.74$0.06$0.68$0.83$0.73$0.10
2015Summary only. Only limited summary data is available for this year.$0.70$0.12$0.58$0.84$0.72$0.11
2014Summary only. Only limited summary data is available for this year.$0.49$0.03$0.47$0.53$0.48$0.05
2013Summary only. Only limited summary data is available for this year.$0.45$0.04$0.41$0.53$0.39$0.14
2012Summary only. Only limited summary data is available for this year.$0.11$0.00$0.11$0.00$0.11