Civic Intelligence

Future Founders Foundation

990 • Fiscal year 2019 • EIN 45-3340650

Jul 01, 2018 to Jun 30, 2019 • Filed on May 01, 2020

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

(312) 350-0334

Siviq Scores

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

Liabilities / Assets

59th percentile

0.14x

Higher debt load relative to assets than 59% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

61st percentile

0.16x

Higher debt load relative to revenue than 61% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

60th percentile

7.0%

Higher net margin than 60% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

81st percentile

$137,528

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 12.8% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

71st percentile

13%

Faster asset growth than 71% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

73rd percentile

18%

Faster revenue growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets59th percentile

Assets

Up

$1,192,400

Up $134,676 (+13%) from 2018

Net Assets

Up

$1,024,585

Up $75,466 (+8.0%) from 2018

Liabilities

Up

$167,815

Up $59,210 (+55%) from 2018

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin60th percentile

Revenue

Up

$1,071,684

Up $164,698 (+18%) from 2018

Expenses

Up

$996,218

Up $217,514 (+28%) from 2018

Net Income

Down

$75,466

Down $52,816 (-41%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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 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

2019

Assets$1,192,400
Liabilities$167,815
Net Assets$1,024,585
Open 2019 Filing

Operations Trend

Revenue Growth73rd percentile

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 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

2019

Revenue$1,071,684
Expenses$996,218
Net Income$75,466
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 1, 2020
Return Version
2018v3.2
Gross Receipts
$1,071,684
Mission and Program Overview

Mission

The organization believes every youth can become an entrepreneur.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$983,488$1,135,311▲ $151,823
Cash and Non-Interest-Bearing Accounts$65,830$44,956▼ $20,874
Prepaid Expenses and Deferred Charges$8,406$11,093▲ $2,687
Accounts Receivable-$1,040-
Total Assets$1,057,724$1,192,400▲ $134,676
Liabilities
Accounts Payable and Accrued Expenses$108,605$167,815▲ $59,210
Total Liabilities$108,605$167,815▲ $59,210
Net Assets / Fund Balance
Unrestricted Net Assets$774,119$762,085▼ $12,034
Temporarily Rstr Net Assets$175,000$262,500▲ $87,500
Total Net Assets Fund Balance$949,119$1,024,585▲ $75,466
Total Liabilities and Net Assets / Fund Balance$1,057,724$1,192,400▲ $134,676
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Scott IssenPresident &FT$137,528$137,528

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,047,810
Program Service Revenue
$16,150
Investment Income
$7,724
Other Revenue
$0
All Other Contributions
$1,047,810
Change in Net Assets
$75,466

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,071,684
Revenue Not Reported on Form 990
$679
Total Revenue per Audited Statements
$1,072,363
Total Revenue per Form 990
$1,071,684
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$600,433
Other Expenses$334,281
Grants and Similar Amounts Paid$61,504
Total Fundraising Expense$31,872
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$355,242-$22,550$377,792
Current Officers, Directors, Trustees, and Key Employees$131,277$2,893$3,799$137,969
Grants to Domestic Individuals$61,504--$61,504
Occupancy$32,720$24,722-$57,442
Payroll Taxes$41,652$509$2,092$44,253
Other Employee Benefits$38,475$641$1,303$40,419
Other Expenses$17,668$21,852$1,889$17,668
Advertising$4,082$28-$4,110
Total Functional Expenses$909,954$54,392$31,872$996,218

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$996,897
Expenses per Audited Statements$996,218
Total Expenses per Form 990$996,218
Expenses Not Reported on Form 990$679
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
2020-05-01
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
17
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, 2019. Future founders prior year remains subject to examination by the internal revenue service.”

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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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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.
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,192,400
Liabilities
$167,815
Net assets
$1,024,585
Revenue
$1,071,684
Expenses
$996,218
Net income
$75,466
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
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