2023-03-21T15:14:57-05:00 2022-05-31 410746749 CLIFTONLARSONALLEN LLP 1301 WEST 22ND STREET SUITE 1100 OAK BROOK IL 60523 990 2021-06-01 363968441 THE ACTUARIAL FOUNDATION ACTU 8477063535 475 N MARTINGALE ROAD 600 SCHAUMBURG IL 60173 JASON LEPPIN EXECUTIVE DIRECTOR 8477063535 2023-03-15 1 JASON LEPPIN 999009999 MELISSA STRUCK P01310867 6305738600 2023-03-15 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z JASON LEPPIN 475 N MARTINGALE ROAD 600 SCHAUMBURG IL 60173 4069059 0 X WWW.ACTUARIALFOUNDATION.ORG X 1994 IL CHANGING LIVES THROUGH MATH EDUCATION (SEE SCHEDULE O FOR THE ORGANIZATION'S FULL MISSION STATEMENT) 30 30 0 1500 0 0 926648 3271124 0 0 39284 504369 3735 0 969667 3775493 187350 331300 0 0 0 0 82191 0 340391 670139 3917043 939680 4248343 29987 -472850 10250816 9127147 396420 727009 9854396 8400138 X THE 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. 0 0 2302879 66000 EDUCATION - 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. 356513 264300 SCHOLARSHIPS - THE ACTUARIAL FOUNDATION ENSURES THE FUTURE OF THE ACTUARIAL PROFESSION THROUGH ITS SCHOLARSHIPS AND REIMBURSEMENT PROGRAM. RECIPIENTS OF FOUNDATION SCHOLARSHIPS ARE SELECTED BY REPRESENTATIVES OF THE ACTUARIAL PROFESSION, WHO MAY ONE DAY BE THEIR PEERS. SO, NOT ONLY ARE THESE SCHOLARSHIPS A MEANS TO OFFSET THE COST OF EDUCATION, THEY ALSO SERVE AS A PRESTIGIOUS RECOGNITION BY A HIGHLY RATED PROFESSION. ACTUARY OF TOMORROW - STUART A. ROBERTSON MEMORIAL SCHOLARSHIPS RECOGNIZE AND ENCOURAGE THE ACADEMIC ACHIEVEMENTS OF UNDERGRADUATE STUDENTS PURSUING A CAREER IN ACTUARIAL SCIENCE. THE CARIBBEAN ACTUARIAL SCHOLARSHIP IS INTENDED TO BE AN ANNUAL AWARD TO UNIVERSITY OF THE WEST INDIES (UWI) ACTUARIAL STUDENTS WHO DEMONSTRATE A STRONG RECORD OF ACCOMPLISHMENT, LEADERSHIP QUALITIES, AND COMMITMENT TO BECOMING AN ACTUARY. THE ACTUARIAL DIVERSITY SCHOLARSHIP PROMOTES DIVERSITY WITHIN THE PROFESSION THROUGH AN ANNUAL SCHOLARSHIP PROGRAM FOR BLACK/AFRICAN AMERICAN, HISPANIC, NATIVE NORTH AMERICAN, AND PACIFIC ISLANDER STUDENTS. THE CURTIS E. HUNTINGTON MEMORIAL SCHOLARSHIP APPLICANTS MUST BE A COLLEGE SENIOR WHO HAS SUCCESSFULLY COMPLETED AT LEAST ONE ACTUARIAL EXAMINATION. APPLICANT MUST RANK IN THE TOP QUARTER OF THEIR CLASS AND HAVE BEEN NOMINATED BY A PROFESSOR AT THEIR SCHOOL. 10550 1000 AWARDS & PRIZES - THE ACTUARIAL FOUNDATION IS PROUD TO RECOGNIZE THE EXEMPLARY WORK OF INDIVIDUALS WHOSE WORK IS ADDING TO THE KNOWLEDGE OF THE ACTUARIAL FIELD AND ADVANCING THE SKILL SET OF THE PROFESSION. THE ERM RESEARCH EXCELLENCE AWARD IN MEMORY OF HUBERT MUELLER RECOGNIZES SIGNIFICANT CONTRIBUTIONS TO THE GROWING BODY OF ERM KNOWLEDGE AND RESEARCH. THE AWARD IS GIVEN ANNUALLY TO THE BEST OVERALL PAPER AT THE ERM SYMPOSIUM. THE WYNN KENT PUBLIC COMMUNICATION AWARD IS GIVEN TO MEMBERS OF THE ACTUARIAL PROFESSION WHO HAVE CONTRIBUTED TO THE PUBLIC AWARENESS OF THE WORK OF THE PROFESSION AND THE VALUE OF ACTUARIAL SCIENCE IN MEETING THE FINANCIAL SECURITY OF SOCIETY IN THE FIELDS OF LIFE, HEALTH, CASUALTY, PENSION, AND OTHER RELATED AREAS. THE INTENT OF THE AWARD IS TO ENCOURAGE ACTUARIES TO ENGAGE IN ACTIVITIES THAT HIGHLIGHT THE ACTUARIAL PROFESSION'S ROLE IN FINANCIAL SECURITY ISSUES BENEFITING THE PUBLIC. 2669942 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 IL AL AR CA FL GA HI KS KY MA MD MI MN MS NC NH NJ NM NY OR PA RI SC TN UT VA WI WV X X THE ORGANIZATION 8477063535 475 N MARTINGALE ROAD 600 SCHAUMBURG IL 60173 X MARGARET RESCE MILKINT CHAIR 1.00 X X 0 0 0 MICHAEL WACEK FCAS CERA MAAA CHAIR-ELECT 1.00 X X 0 0 0 DEWAYE ULLSPERGER ASA MAAA FSA IAA - TRUSTEE 1.00 X 0 0 0 ANDY FERRIS FSA MAAA FCA SECRETARY TREASURER 1.00 X X 0 0 0 JEFFREY JOHNSON MAAA FSA TRUSTEE 1.00 X 0 0 0 CHAD C WISCHMEYER FCAS MAAA TRUSTEE 1.00 X 0 0 0 JOANNE SPALLA MAAA FCAS TRUSTEE 1.00 X 0 0 0 MICHAEL SMITH FSA MAAA CFA TRUSTEE 1.00 X 0 0 0 ERIC C SHERMAN FSA MAAA TRUSTEE 1.00 X 0 0 0 PATRICIA ROTELLO FCA FSA EA IAA TRUSTEE 1.00 X 0 0 0 NADINE ORLOFF FAS EA MAAA FCA TRUSTEE 1.00 X 0 0 0 KATHY ODOMIROK FCAS MAAA TRUSTEE 1.00 X 0 0 0 BENJAMIN YBARRA TRUSTEE 1.00 X 0 0 0 OLGA T JACOBS FSA MAAA TRUSTEE 1.00 X 0 0 0 JEREMY ENGDAHL-JOHNSON TRUSTEE 1.00 X 0 0 0 SHARON ROBINSON FCAS MAAA TRUSTEE 1.00 X 0 0 0 TED A LYLE FSA MAAA TRUSTEE 1.00 X 0 0 0 NORA BENANTI FCAS TRUSTEE 1.00 X 0 0 0 ANDIE CHRISTOPHERSON FSA MAAA TRUSTEE 1.00 X 0 0 0 BOB CONGER FCAS MAAA TRUSTEE 1.00 X 0 0 0 KELLY CUSICK ACAS MAAA TRUSTEE 1.00 X 0 0 0 ALEXANDER DEWITT FCAS TRUSTEE 1.00 X 0 0 0 CYNTHIA EDWALDS FSA FCAS MAAA TRUSTEE 1.00 X 0 0 0 STEVE EISENSTEIN FCA MAAA FSA EA TRUSTEE 1.00 X 0 0 0 EMILY GINGRICH FSA EA FCA TRUSTEE 1.00 X 0 0 0 RICHARD JONES FSA EA TRUSTEE 1.00 X 0 0 0 JESSICA LEONG TRUSTEE 1.00 X 0 0 0 JERRY MINGIONE FCA MAAA FSA EA CERA, TRUSTEE 1.00 X 0 0 0 CANDE OLSEN FSA MAAA CLU TRUSTEE 1.00 X 0 0 0 STEVE WHITE TRUSTEE 1.00 X 0 0 0 JASON LEPPIN EXECUTIVE DIRECTOR 40.00 X 0 0 0 0 0 0 0 0 0 0 PRECISION GLOBAL CONSULTING 98 SAN JACINTO BLVD 4TH FLOOR AUSTIN TX 78701 CONSULTING 325180 SCHOLASTIC INC 555 BROADWAY NEW YORK NY 10012 EDUCATIONAL SOLUTIONS 300485 INSTITUTE OF COMPETITION SCIENCES 8 LOCKSLEY AVE 10G SAN FRANCISCO CA 94122 COMPETITION DESIGN AND OPERATIONS 254552 PLUS ULTRE LLC 511 CRESHEIM VALLEY ROAD WYNDMOOR PA 19038 CONSULTING 143750 4 3271124 3271124 187935 187935 610000 293566 316434 316434 316434 3775493 0 0 504369 X 318300 318300 13000 13000 41571 418 25278 15875 76759 76759 23258 23258 1116699 778102 213954 124643 132758 19501 87157 26100 551229 489178 48632 13419 122031 65955 26815 29261 63534 21727 41722 85 16389 12 16377 REIMBURSED EXP - WAGES 1309687 751433 513510 44744 REIMBURSED EXP - BENEFI 437472 200105 151273 86094 STAFF TRAINING AND SUPP 8118 212 7906 STAFF DUES & SUBSCRIPTI 2747 219 2358 170 14791 11780 3011 4248343 2669942 1238010 340391 558372 275404 715808 754165 1370561 1189266 36177 72662 15330 15330 6085 0 7563813 6835650 10250816 9127147 396420 727009 396420 727009 X 6045445 5777260 3808951 2622878 9854396 8400138 10250816 9127147 -472850 -981408 0 X X 0 1 X 1 0 X 1098833 1549443 4085371 3282578 3271124 13287349 1098833 1549443 4085371 3282578 3271124 13287349 1333960 11953389 143774 145285 159557 180048 187935 816599 858 18993 14849 3735 38435 14142383 0.84520 0.77770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15330 15330 0 0 X 3145827 -981408 375000 -606408 3752235 23258 23258 3775493 4600085 375000 375000 4225085 23258 23258 4248343 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. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO RECIPIENTS IN THE REGION GRANTS TO RECIPIENTS IN THE REGION 13000 0 0 0 0 0 0 13000 0 13000 CARIBBEAN ACTUARIAL SCHOLARSHIP 13 13000 WIRE TRANSFER 0 0 0 0 0 0 0 PART I, LINE 2: MANAGEMENT MONITORS GRANT COMPLIANCE THROUGH REVIEW OF BEDGETARY AND ACTIVITY REPORTS PROVIDED BY THE GRANTEES. PART I, LINE 3: EXPENSES ARE RECOGNIZED ON THE ACCRUAL BASIS OF ACCOUNTING. MANAGEMENT MONITORS GRANT COMPLIANCE THROUGH REVIEW OF BUDGETARY AND ACTIVITY REPORTS PROVIDED BY THE GRANTEES. PART III ACCOUNTING METHOD: 1 CURTIS E. HUNTINGTON SCHOLARSHIPS 8 21000 DIVERSITY SCHOLARSHIPS 63 171000 MODELING THE FUTURE CHALLENGE SCHOLARSHIP 42 46000 STUART A. ROBERTSON SCHOLARSHIPS 8 45500 WYNN KENT PUBLIC COMMUNICATIONS AWARD 1 1000 SCHOLASTIC AWARD 4 20000 ELIZABETH M. MAURO REIMBURSEMENT PROGRAM 2 1300 OTHER SCHOLARSHIPS 7 12500 PART I, LINE 2: MANAGEMENT MONITORS GRANT COMPLIANCE THROUGH REVIEW OF BUDGETARY AND ACTIVITY REPORTS PROVIDED BY THE GRANTEES. 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. 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.