2021-12-13T10:47:01-08:00 2021-04-30 363335935 Costabile & Steffens PC 1805 Hicks Rd Rolling Meadows IL 60008 990 2020-05-01 340714666 FOUNDRY EDUCATIONAL FOUNDATION DBA FEF FOUN 8474909200 1695 N PENNY LANE SCHAUMBURG IL 60173 BRIAN LEWIS Executive Dir. 2021-12-13 true BRIAN LEWIS 999009999 Frank J Costabile P00629672 8477763700 2 AAL1 IAL1 FAL1 2020 2022-09-23 18:48:47Z 1695 N PENNY LANE SCHAUMBURG IL 60173 4831857 false X www.fefinc.org X 1947 OH FOUNDRY EDUCATIONAL FOUNDATION STRENGHTENS THE METAL CASTING INDUSTRY BY SUPPORTING UNIQUE PARTNERSHIPS AMONG STUDENTS, EDUCATORS, AND INDUSTRY, HELPING TODAY'S STUDENTS BECOME TOMORROW'S LEADERS. 41 40 4 40 0 946877 1001862 178661 17275 391537 458991 0 1517075 1478128 623969 679446 0 488470 504137 0 134472 425434 246082 1537873 1429665 -20798 48463 10850999 13151509 10715 141189 10840284 13010320 FOUNDRY EDUCATIONAL FOUNDATION STRENGHTENS THE METAL CASTING INDUSTRY BY SUPPORTING UNIQUE PARTNERSHIPS AMONG STUDENTS, EDUCATORS, AND INDUSTRY, HELPING TODAY'S STUDENTS BECOME TOMORROW'S LEADERS. false false 1154060 449265 910580 FEF is the metalcasting industry's educational program at the post-secondary level. It includes four-year technology schools as well as traditional engineering colleges and graduate schools. It spans the broad range of higher education from production supervision to specialized research. Since 1947, the FEF has sponsored programs that have helped advance the industry through the grooming of its young talent and technical leaders. Working with key professors at member universities along with metalcasting companies, the foundation sponsors networking events, promotes job fairs, awards scholarships, funds programs, and advances the interests of young engineers and technologies, preparing them for technical careers in the industry. 6105 17275 FEF's college industry conference (CIC) is the metalcasting industry's premier career fair and peer engagement annual event bringing together 200 industry leaders and 100 top achieving students. the conference promotes young talent from fef member post-secondary institutions toward career opportunities in the metalcasting industry. the goal is to solidify the student's interest in metalcasting while meeting partner company's needs for top technical talent. each year of $60,000 is awarded in scholarships during the awards luncheon to the best-of-the-best students. the cic scholarship funds are from nearly thirty specially established endowments for the specific purpose of recognizing those students destined for future leadership in the metalcasting industry. In light of the pandemic, the CIC was changed to all virtual. Two conferences were held (November and March) allowing multiple companies to continue to recruit students. A number of full time position offers occurred from these virtual sessions. FEF charged a nominal fee for each attendee to the conference. 1160165 true true false false false true false false false true true false false false false true true false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false true 3 0 true 4 true false false false false false false false 0 false false false false false false false false false false X 41 40 false false false false false false false true true false false true true true true true true true false false IL X BRIAN LEWIS 8474909200 1695 N Penny Lane Schaumburg IL 60173 BRIAN LEWIS Executive Dir. 40.00 0.00 X X 149960 0 0 GREG TORDOFF Director 1.00 0.00 X 0 0 0 LES BROWN Director 1.00 0.00 X 0 0 0 TOM DEMPSEY President 1.00 0.00 X X 0 0 0 DAVID CLARK Director 1.00 0.00 X 0 0 0 TONY CLARK Director 1.00 0.00 X 0 0 0 ZEYDI GUTIERREZ Director 1.00 0.00 X 0 0 0 LIZETH MEDINA Director 1.00 0.00 X 0 0 0 Kathy Hayrynen Director 1.00 0.00 X 0 0 0 KIRK KALLIO 2nd V.P. 1.00 0.00 X X 0 0 0 WIL TINKER Director 1.00 0.00 X 0 0 0 JOE COSTABILE Director 1.00 0.00 X 0 0 0 CHRIS FETTERS Director 1.00 0.00 X 0 0 0 Corey Jarvis Director 1.00 0.00 X 0 0 0 BEN HUNSICKER Director 1.00 0.00 X 0 0 0 ANDREW IANNETTONI Director 1.00 0.00 X 0 0 0 JOHN KEOUGH Director 1.00 0.00 X 0 0 0 STEVE SIKORSKI 1st V.P. 1.00 0.00 X X 0 0 0 RANDY SMITH Director 1.00 0.00 X 0 0 0 Maureen P Lynn Secretary 1.00 0.00 X 0 0 0 BRANDON KRUSE Director 1.00 0.00 X 0 0 0 JOHN GRAHEK Fmr. President 1.00 0.00 X X 0 0 0 Marty Putnik Director 1.00 0.00 X 0 0 0 JOEY LEONARD Director 1.00 0.00 X 0 0 0 Terry McClellan Director 1.00 0.00 X 0 0 0 ROBERT STEELE Treasurer 1.00 0.00 X 0 0 0 BRAD MASTERS Director 1.00 0.00 X 0 0 0 JAY MORRISON Director 1.00 0.00 X 0 0 0 JOHN OUTTEN Director 1.00 0.00 X 0 0 0 MIKE PETRUS Director 1.00 0.00 X 0 0 0 MIKE MEYER Director 1.00 0.00 X 0 0 0 BRIAN SUNDERLAND Director 1.00 0.00 X 0 0 0 BRYAN BURTON Director 1.00 0.00 X 0 0 0 DON CRAIG Director 1.00 0.00 X 0 0 0 AMANDA GROVES Director 1.00 0.00 X 0 0 0 DOUG IMRIE Director 1.00 0.00 X 0 0 0 MATT JACOBS Director 1.00 0.00 X 0 0 0 DONALD MCLAIN Director 1.00 0.00 X 0 0 0 JOE MUNIZA Director 1.00 0.00 X 0 0 0 LIBBY RYDER Director 1.00 0.00 X 0 0 0 EMILY SHEDLARSKI Director 1.00 0.00 X 0 0 0 149960 1 false false false 0 91282 910580 1001862 COLLEGE INDUSTRY CONF. 611710 17275 17275 17275 280506 280506 0 0 0 3532214 3353729 178485 178485 178485 0 0 0 0 1478128 297781 178485 280181 280181 399265 399265 0 0 149960 112470 14996 22494 0 212848 117540 42266 53042 35967 22802 5677 7488 78323 49655 12361 16307 27039 17142 4267 5630 0 0 15740 15740 0 0 58434 58434 56207 38682 11313 6212 12188 8309 190 3689 1647 109 1399 139 0 0 16890 4696 7497 4697 0 5169 3358 983 828 6105 6105 0 0 8843 8843 1146 23 1099 24 RESERVE FOR UNCOLL. PLEDGES 33380 33380 REPAIRS AND MAINTENANCE 20546 4563 5560 10423 TELEPHONE 4884 1794 1458 1632 Postage and Shipping 3309 1361 689 1259 1594 296 690 608 1429665 1160165 135028 134472 293417 225035 0 421413 245575 0 0 0 0 0 5393 5393 22932 19474 6128 3458 10103503 12657076 0 0 21145 14972 0 10850999 13151509 10715 49907 91282 10715 141189 X -1508460 249445 12348744 12760875 10840284 13010320 10850999 13151509 48463 2121573 X false true X true false X 2631884 1193945 1174444 946877 1001862 6949012 148862 179242 191592 178661 17275 715632 0 0 0 2780746 1373187 1366036 1125538 1019137 7664644 0 0 7664644 170798 227152 332868 277420 280506 1288744 0 170798 227152 332868 277420 280506 1288744 0 0 2951544 1600339 1698904 1402958 1299643 8953388 0.85610 0.86100 0.14390 0.13900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12 79 36500 574403 27000 328916 1576521 9977070 true true 12348744 560903 257144 405916 12760875 11692358 640819 383357 299593 68197 12348744 11101285 711728 300647 302894 118408 11692358 10358414 832948 267432 298288 59221 11101285 8249773 2225221 295446 191912 220114 10358414 0.09460 0.70000 0.20540 false false false 22932 19474 3458 3458 X 3541267 2121573 2121573 1419694 58434 58434 1478128 1371231 1371231 58434 58434 1429665 Part V, Line 4: Intended uses of the endowment fund. Endowment funds have been established for a variety of purposes, primarily providing scholarship awards, programs and operations. Part X : FIN48 Footnote The Organization is exempt from federal income tax under section 501(c)(3) of the Internal Revenue Code. In addition, the Organization qualifies for the charitable contribution deduction under Section 170(b)(1)(A) and has been classified as an organization other than a private foundation under Internal Revenue Code Section 509(a)(2). In May, 2009, the Organization adopted the provisions of ASC Topic 740-10-25, "Income Taxes Recognition". ASC Topic 740-10-25 had no impact on the Organization's financial statements. The Organization does not believe its financial statements include any uncertain tax positions. true California State Polytechnic 3801 W Temple Ave Pomona CA 91768 204927897 6730 0 discretionary funds for program exp Kent State University 800 E Summit St Kent OH 44240 316402079 9245 0 discretionary funds for program exp MICHIGAN TECH 1400 TOWNSEND DR 512 MM HOUGHTON MI 49931 386005955 14217 0 DISCRETIONARY FUNDS for program exp pittsburg state university dept of engineering tech pittsburg KS 66762 223981479 5585 0 discretionary funds for program exp Trine University 1 University Ave Angola IN 46703 350715530 9999 0 discretionary funds for program exp Univ of Wisconsin - Platteville 1 University Plaza Platteville WI 53818 391805963 64228 0 Discretionary Funds for program exp Virginia Tech 213 Holden Hall MS 0238 Blacksburg VA 24061 546001805 10733 0 discretionary funds for program exp 7 0 scholarships and grants 259 399265 Grantmaker's Description of How Grants are Used Procedures for monitoring the use of grant funds: scholarships are paid directly to students and do not require further monitoring. Costs paid with discretionary school funds are either paid upon receipt of invoice, purchase order or other acceptable supporting documentation, or they are charged to a credit card provided by the Organization. Credit card purchases are monitored by the director of program services. Charges are reviewed each month; every school is reviewed at least one per year. If the director of program services determines that a cost is questionable, she requests support from the professor. Form 990, Part VI, Line 11b: Form 990 Review Process The executive committee and executive director review and approve Form 990 before it is signed and filed by the executive director. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The board members are required to review and sign a conflict of interest policy on an annual basis. The executive director reviews the signed statements to ensure that they have been properly signed by the board members. If a board member discovers they have a conflict of interest, they abstain from voting on the related issue. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management On an annual basis, the Organization's president and first vice president perform a review of the executive director's performance and compensation. They determine the compensation for the executive director based on local salary surveys and trends within metal casting industry. They discuss the decision with the executive committee, which approves the compensation package. The board gives final approval of the compensation package. This process is documented in the board minutes. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The Organization's bylaws are available on its website and upon request.