2022-04-14T11:33:24-05:00 2021-05-31 410746749 CLIFTONLARSONALLEN LLP 1301 WEST 22ND STREET SUITE 1100 OAK BROOK IL 60523 990 2020-06-01 363968441 THE ACTUARIAL FOUNDATION ACTU 8477063535 475 N MARTINGALE RD NO 600 SCHAUMBURG IL 60173 JASON LEPPIN EXECUTIVE DIRECTOR 8477063535 2022-04-14 1 JASON LEPPIN 999009999 MELISSA STRUCK P01310867 6305738600 2022-04-14 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z JASON LEPPIN 475 N MARTINGALE RD NO 600 SCHAUMBURG IL 60173 3345689 0 X WWW.ACTUARIALFOUNDATION.ORG X 1994 IL CHANGING LIVES THROUGH MATH EDUCATION (SEE SCHEDULE O FOR THE ORGANIZATION'S FULL MISSION STATEMENT) 27 27 0 1172 0 0 926648 2355930 0 0 39284 424576 3735 0 969667 2780506 187350 323211 0 0 0 0 82191 0 137464 670139 2382394 939680 2705605 29987 74901 9163664 10250816 566875 396420 8596789 9854396 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 1473782 88461 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. 364211 233750 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. 13325 1000 0 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. 1851318 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 18 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 27 27 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 RD NO 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 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 CLARK SLIPHER FSA MAAA IMMEDIATE PAST CHAIR 1.00 X 0 0 0 SHARON ROBINSON FCAS MAAA TRUSTEE 1.00 X 0 0 0 SANDA Z BROWN TRUSTEE 1.00 X 0 0 0 RICHARD DE HAAN FSA FIA MAAA TRUSTEE 1.00 X 0 0 0 BRIAN DONLAN FCAS MAAA TRUSTEE 1.00 X 0 0 0 JEREMY ENGDAHL-JOHNSON TRUSTEE 1.00 X 0 0 0 TIMOTHY L GRAHAM TRUSTEE 1.00 X 0 0 0 SARAH J HAMID FSA FCIA MAAA TRUSTEE 1.00 X 0 0 0 OLGA T JACOBS FSA MAAA TRUSTEE 1.00 X 0 0 0 BARRY JACOBSON FSA TRUSTEE 1.00 X 0 0 0 TED A LYLE FSA MAAA TRUSTEE 1.00 X 0 0 0 TONYA MANNING FSA FCA EA MAAA TRUSTEE 1.00 X 0 0 0 ROOSEVELT MOSLEY FCAS MAAA TRUSTEE 1.00 X 0 0 0 KATHY ODOMIROK FCAS MAAA TRUSTEE 1.00 X 0 0 0 NADINE ORLOFF FAS EA MAAA FCA TRUSTEE 1.00 X 0 0 0 PATRICIA ROTELLO FCA FSA EA IAA TRUSTEE 1.00 X 0 0 0 ERIC C SHERMAN FSA MAAA TRUSTEE 1.00 X 0 0 0 MICHAEL SMITH FSA MAAA CFA TRUSTEE 1.00 X 0 0 0 JOANNE SPALLA MAAA FCAS TRUSTEE 1.00 X 0 0 0 DEWAYE ULLSPERGER ASA MAAA FSA IAA - TRUSTEE 1.00 X 0 0 0 CHAD C WISCHMEYER FCAS MAAA TRUSTEE 1.00 X 0 0 0 SUSAN WITCRAFT FCAS CERA TRUSTEE 1.00 X 0 0 0 BENJAMIN YBARRA TRUSTEE 1.00 X 0 0 0 JASON LEPPIN EXECUTIVE DIRECTOR 40.00 X 0 0 0 0 0 0 0 0 0 0 INSTITUTE OF COMPETITION SCIENCES 8 LOCKSLEY AVE 10G SAN FRANCISCO CA 94122 COMPETITION DESIGN AND OPERATIONS 129750 STEIER GROUP 10844 OLD MILL ROAD OMAHA NE 68154 CAMPAIGN FUNDRAISING 108850 2 2355930 5327 2355930 140762 140762 848997 565183 283814 283814 283814 2780506 0 0 424576 X 8461 8461 305250 305250 9500 9500 40624 40624 51732 51732 19560 19560 737505 674650 59096 3759 102666 4448 58779 39439 30537 1587 28950 83231 33352 43449 6430 1250 1250 3206 3206 9601 9601 REIMBURSED EXP - WAGES 903523 568460 262826 72237 REIMBURSED EXP - BENEFI 304081 182920 105562 15599 STUDENT SUPPORT 56062 56062 STAFF TRAINING AND SUPP 19444 19444 19372 3422 15950 2705605 1851318 716823 137464 95999 558372 1079148 715808 1928638 1370561 30382 36177 26394 20309 6085 6085 6023412 7563813 9163664 10250816 566875 396420 566875 396420 X 4070112 6045445 4526677 3808951 8596789 9854396 9163664 10250816 74901 1182706 0 X X 0 1 X 1 0 X 1099832 1098833 1549443 4085371 3282578 11116057 1099832 1098833 1549443 4085371 3282578 11116057 1288995 9827062 134120 143774 145285 159557 180048 762784 3297 858 18993 14849 3735 41732 11920573 0.82440 0.74350 X PART II THE FOUNDATION CHANGED ITS FISCAL YEAR FOLLOWING THE YEAR ENDED DECEMBER 31, 2019. THE TOTALS FOR THE FIVE MONTH PERIOD ENDING MAY 31, 2020 HAS BEEN INCLUDED IN THE 2020 COLUMN WITH THE ACTIVITY FOR THE FISCAL YEAR ENDING MAY 31, 2021. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26394 20309 6085 6085 X 4339069 1182706 395417 1578123 2760946 19560 19560 2780506 3081462 395417 395417 2686045 19560 19560 2705605 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, 2021 AND 2020, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 0 CARIBBEAN ACTUARIAL SCHOLARSHIP CENTRAL AMERICA AND THE CARIBBEAN 5 9500 WIRE 0 0 0 0 0 0 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 THE UNIVERSITY OF TEXAS AT DALLAS 800 W CAMPBELL ROAD RICHARDSON TX 75080 751305566 N/A 8461 GRANT TO SUPPORT STATISTICAL METHODS FOR GAINING PRECISION IN CREDIBILITY ESTIMATION 1 0 CURTIS E. HUNTINGTON SCHOLARSHIPS 16 36000 DIVERSITY SCHOLARSHIPS 61 168000 MODELING THE FUTURE CHALLENGE SCHOLARSHIP 30 70000 STUART A. ROBERTSON SCHOLARSHIPS 4 20250 WYNN KENT PUBLIC COMMUNICATIONS AWARD 1 1000 SCHOLASTIC AWARD 1 5000 MATH MOTIVATORS AWARD 1 5000 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 ALL ASPECTS OF THE FOUNDATION IN ACCORDANCE WITH THE ORGANIZATION'S BYLAWS AND POLICIES. OPERATIONS MAY INCLUDE BUT ARE NOT LIMITED TO ADMINISTRATION, FINANCE AND ACCOUNTING, EDUCATION, FUNDRAISING, AND INFORMATION TECHNOLOGY. SOA EMPLOYEES PROVIDE THESE SERVICES AND TOTAL REIMBURSEMENTS PAID TO SOA FOR STAFF SALARIES WERE $428,662. FORM 990, PART VI, SECTION B, LINE 11B THE SECRETARY/TREASURER REVIEWS 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 PROGRAM SUPPORT: PROGRAM SERVICE EXPENSES 274,860. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 274,860. OTHER CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 116,797. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 116,797. OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 81,257. MANAGEMENT AND GENERAL EXPENSES 59,096. FUNDRAISING EXPENSES 3,759. TOTAL EXPENSES 144,112. PROFESSIONAL SERVICES - TEMPORARY HELP: PROGRAM SERVICE EXPENSES 201,736. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 201,736. PART XII, LINE 2C THE ORGANIZATION NEITHER CHANGED THE OVERSIGHT PROCESS OR THE SELECTION PROCESS DURING THE TAX YEAR.