Civic Intelligence

Future Founders Foundation

990 • Fiscal year 2020 • EIN 45-3340650

Jul 01, 2019 to Jun 30, 2020 • Filed on May 07, 2021

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

58th percentile

0.16x

Higher debt load relative to assets than 58% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

56th percentile

0.18x

Higher debt load relative to revenue than 56% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

75th percentile

22%

Higher net margin than 75% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

86th percentile

$166,494

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 12.1% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

79th percentile

32%

Faster asset growth than 79% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

80th percentile

29%

Faster revenue growth than 80% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets58th percentile

Assets

Up

$1,569,885

Up $377,485 (+32%) from 2019

Net Assets

Up

$1,324,499

Up $299,914 (+29%) from 2019

Liabilities

Up

$245,386

Up $77,571 (+46%) from 2019

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin75th percentile

Revenue

Up

$1,380,267

Up $308,583 (+29%) from 2019

Expenses

Up

$1,080,353

Up $84,135 (+8.4%) from 2019

Net Income

Up

$299,914

Up $224,448 (+297%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth79th 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

2020

Assets$1,569,885
Liabilities$245,386
Net Assets$1,324,499
Open 2020 Filing

Operations Trend

Revenue Growth80th 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

2020

Revenue$1,380,267
Expenses$1,080,353
Net Income$299,914
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 7, 2021
Return Version
2019v5.0
Gross Receipts
$1,380,267
Mission and Program Overview

Mission

The organization believes every youth can become an entrepreneur.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,135,311$1,331,727▲ $196,416
Accounts Receivable$1,040$120,000▲ $118,960
Cash and Non-Interest-Bearing Accounts$44,956$105,644▲ $60,688
Prepaid Expenses and Deferred Charges$11,093$9,014▼ $2,079
Total Assets$1,192,400$1,569,885▲ $377,485
Other Assets Total-$3,500-
Liabilities
Other Liabilities-$127,055-
Accounts Payable and Accrued Expenses$167,815$118,331▼ $49,484
Total Liabilities$167,815$245,386▲ $77,571
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$762,085$1,001,499▲ $239,414
Net Assets With Donor Restrictions$262,500$323,000▲ $60,500
Total Net Assets Fund Balance$1,024,585$1,324,499▲ $299,914
Total Liabilities and Net Assets / Fund Balance$1,192,400$1,569,885▲ $377,485
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Scott IssenPresident &FT$140,560$25,934$166,494
Scott IssenPresident & CEO-$140,560$25,934$166,494

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$1,349,916
Program Service Revenue
$22,819
Investment Income
$5,362
Other Revenue
$2,170
All Other Contributions
$1,349,916
Change in Net Assets
$299,914

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,380,267
Revenue Not Reported on Form 990
$5,395
Total Revenue per Audited Statements
$1,385,662
Total Revenue per Form 990
$1,380,267
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$746,750
Other Expenses$286,067
Total Fundraising Expense$100,686
Grants and Similar Amounts Paid$47,536
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$408,352-$80,794$489,146
Current Officers, Directors, Trustees, and Key Employees$139,678$3,048$4,304$147,030
Other Employee Benefits$48,635$340$6,994$55,969
Payroll Taxes$48,065$236$6,304$54,605
Grants to Domestic Individuals$47,536--$47,536
Occupancy-$30,000-$30,000
Other Expenses$3,021$23,645$2,290$28,956
Advertising$24,779--$24,779
Total Functional Expenses$920,878$58,789$100,686$1,080,353

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,085,748
Expenses per Audited Statements$1,080,353
Total Expenses per Form 990$1,080,353
Expenses Not Reported on Form 990$5,395
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan Payable$127,055
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
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
2021-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Issen
Formed
2011
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
11
Employees
16
Volunteers
200

Preparer

Firm
Kopczyk Osher & Scott CPA Services
Address
4415 HARRISON ST STE 552, HILLSIDE, IL 60162-1911
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, 2020. Each of the future founders foundation's prior three years remains subject to examination by the internal revenue service. The organization has evaluated its tax positions for all open tax years. Based on the evaluation of the organization's tax positions, management believes all tax positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended june 30, 2020.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0FUTURE FOUNDERS STARTUP: WE HELP DIVERSE 18 TO 30-YEAR-OLDS FROM ACROSS THE NATION LAUNCH AND SCALE THEIR OWN BUSINESSES. FOUNDERS PARTICIPATE IN THE STARTUP BOOTCAMP, FELLOWSHIP AND/OR ALUMNI ACCELERATOR PROGRAMS OR OUR U.PITCH NATIONAL COLLEGIATE ELEVATOR PITCH COMPETITION.
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IRS990/PYRevenuesLessExpensesAmt075466
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt01135311
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0833759
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0828594
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04959398
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt05362
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt07724
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt04543
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0314
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt018556
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt044263
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.35390
IRS990ScheduleA/PublicSupportPY170Pct00.37670
IRS990ScheduleA/PublicSupportTotal170Amt01761797
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IRS990ScheduleA/TotalSupportAmt04977954
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt05395
IRS990ScheduleD/DonatedServicesUseFcltsAmt05395
IRS990ScheduleD/ExpensesNotReportedAmt05395
IRS990ScheduleD/ExpensesSubtotalAmt01080353
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0127055
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PPP LOAN PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt05395
IRS990ScheduleD/RevenueSubtotalAmt01380267
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, 2020. EACH OF THE FUTURE FOUNDERS FOUNDATION'S PRIOR THREE YEARS REMAINS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS FOR ALL OPEN TAX YEARS. BASED ON THE EVALUATION OF THE ORGANIZATION'S TAX POSITIONS, MANAGEMENT BELIEVES ALL TAX POSITIONS TAKEN WOULD BE UPHELD UNDER AN EXAMINATION. THEREFORE, NO PROVISION FOR THE EFFECTS OF UNCERTAIN TAX POSITIONS HAS BEEN RECORDED FOR THE YEAR ENDED JUNE 30, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalRevenuePerForm990Amt01380267
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01385662
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01085748
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt014680
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt132856
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS & STIPENDS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1SCHOLARSHIPS & STIPENDS
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0140560
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt025934
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SCOTT ISSEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0166494
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
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/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0true
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt058789
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0920878
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IRS990/UponRequestInd0X

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,569,885
Liabilities
$245,386
Net assets
$1,324,499
Revenue
$1,380,267
Expenses
$1,080,353
Net income
$299,914
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