2017-06-20T09:35:40-05:00 2016-12-31 390859910 Baker Tilly Virchow Krause LLP 205 N Michigan Ave 2800 Chicago IL 606015927 990 2016-01-01 363968441 The Actuarial Foundation ACTU 8477063557 475 N Martingale Rd Suite 600 Schaumburg IL 60173 JASON LEPPIN EXECUTIVE DIRECTOR 8477063557 2017-06-12 1 Mark Heroux P00959793 3127298000 2017-06-12 38.88.202.179 2017-06-12 14:07:18 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 D361CBAA8B0C107A22BE1AD99391E4711098517F 2016 2018-03-14 21:41:22Z X Jason Leppin 475 N Martingale Rd Ste 600 Schaumburg IL 60173 1766345 0 X www.actuarialfoundation.org X 1994 IL Changing Lives through Math Education - Imagine a future where (See Schedule O) 30 30 0 175 0 0 921661 1099832 0 0 1703 133214 -911 3297 922453 1236343 552395 553458 0 0 0 0 0 0 19749 536126 483452 1088521 1036910 -166068 199433 5766629 6326711 198553 255295 5568076 6071416 WE OFFER TEACHERS FREE MATH ENHANCEMENT MATERIALS FOR THEIR CLASSROOMS. WE PROVIDE INSIGHT FOR CONSUMERS TO EFFICIENTLY MANAGE CHANGING ECONOMIC SITUATIONS. WE PROVIDE ACTUARIES, RESEARCHERS, AND STUDENTS THE OPPORTUNITY TO BENEFIT FROM AWARDS AND SCHOLARSHIPS. 0 0 505897 351041 EDUCATIONTHE 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 REVAMPED VERSION OF THE FOUNDATION'S PROJECT MATH MINDS, A CRITICAL THINKING, HANDS-ON MATHEMATICS CHALLENGE FOR HIGH SCHOOL STUDENTS FOR THE CHANCE TO EARN ONE OF THREE COLLEGE SCHOLARSHIPS TOTALING $55,000. THE 2017 COMPETITION WAS DEVELOPED WITH SUPPORT FROM (See Schedule O) 39634 31200 Research and Actuarial Education - Research grants are provided tosupport the background work for textbooks, symposia, andpublications to add to the advancement of knowledge in theeducation field of actuarial science. 13638 0 Consumer Financial Education - The Foundation provides informationin areas where there are gaps in consumer knowledge andunderstanding of today's financial/economic issues. The materialsdeveloped are non-commercial providing unbiased information forconsumers (general public) to better prepare themselves forfinancial decisions that will be made over their lifetime. TheFoundation creates and disseminates a Financial Smarts newsletterat no cost to the consumer. A primary outlet of distribution isthrough the public library system and the general public. Wedisseminate to over 800 subscribers of print or electronic copiesof the newsletter, with thousands of views via web site of thisfree newsletter. 224535 171216 224535 171216 783704 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 12 0 1 0 0 0 0 0 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 IL X X TIFFANY BERGER 8477063620 475 N MARTINGALE ROAD STE 600 Schaumburg IL 60173 X Susan Witcraft Trustee 0.25 X 0 0 0 Clark Slipher Trustee 0.25 X 0 0 0 Tonya Manning Trustee 0.25 X 0 0 0 Roy Goldman Trustee 0.25 X 0 0 0 Richard de Haan Trustee 0.25 X 0 0 0 Pamela Cone Trustee 0.25 X 0 0 0 Michael Wacek Trustee 0.25 X 0 0 0 Thomas Corcoran Trustee 0.25 X 0 0 0 Doug French Chair 2.00 X X 0 0 0 Michael Fusco Trustee 0.25 X 0 0 0 Helen Galt Trustee 0.25 X 0 0 0 John Schubert Trustee 0.25 X 0 0 0 Carol Sears Trustee 0.25 X 0 0 0 Amanda Young Trustee 0.25 X 0 0 0 Jacques Goulet Jr Secretary-Treasurer 0.25 X X 0 0 0 A Greig Woodring Trustee 0.25 X 0 0 0 John Ehrhardt Chair-elect 0.25 X X 0 0 0 David Fishbaum Trustee 0.25 X 0 0 0 Jane Hamrick Trustee 0.25 X 0 0 0 Joseph Nichols Trustee 0.25 X 0 0 0 David Sandberg Trustee 0.25 X 0 0 0 Brian Donlan Trustee 0.25 X 0 0 0 Sarah Hamid Trustee 0.25 X 0 0 0 Barry Jacobson Trustee 0.25 X 0 0 0 Charles Marino Trustee 0.25 X 0 0 0 Michael McLaughlin Jr Trustee 0.25 X 0 0 0 Lisa Pawlowski Trustee 0.25 X 0 0 0 0 0 0 0 0 0 0 0 1099832 31613 1099832 134120 134120 529096 530002 -906 -906 -906 MISCELLANEOUS SALES 900099 3297 3297 3297 1236343 0 0 136511 340041 340041 197717 197717 15700 15700 16601 16601 11553 11553 41560 41560 196944 112183 65012 19749 14980 14980 15912 4720 11192 30591 30591 10377 10377 REIMBURSED EXP - WAGES 84313 84313 PROFESSIONAL FEES 32654 5576 27078 REIMBURSED EXP - BENEFI 23454 23454 STAFF TRAINING 2426 2426 2087 2087 1036910 783704 233457 19749 112338 88496 131372 268319 142838 292406 4505 7047 5375576 5670443 5766629 6326711 198553 255295 198553 255295 X 3382643 3659958 2185433 2411458 5568076 6071416 5766629 6326711 199433 303907 0 X X 0 1 X 1 0 X 952480 992384 1601262 921661 1099832 5567619 952480 992384 1601262 921661 1099832 5567619 125896 5441723 117737 113400 104619 129019 134120 598895 3565 48548 3297 55410 6221924 0.87460 0.91000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2109088 303907 580391 884298 1224790 11553 11553 1236343 1605748 580391 580391 1025357 11553 11553 1036910 Part X, Line 2: The Foundation follows the accounting standards for contingencies in evaluating uncertain tax positions. The guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the Foundation for uncertain tax positions as of December 31, 2016 and 2015. The Foundation's tax returns are subject to review and examination by federal and state authorities. 1 0 0 0 0 0 0 0 0 0 Europe (Including Iceland & Greenland) Research Grant Analysis of Risk Transfer Mechanisms in Funded Pension Schemes 7200 North America rch Grant "Recursive Partitioning Methods for Credibility Theory" 1500 2 Caribbean Scholarship - Kaara Sant Central America and the Caribbean 1 500 Caribbean Scholarship - Oshea L. Miller Central America and the Caribbean 1 500 Caribbean Scholarship - Oneka Taylor Central America and the Caribbean 1 1000 Caribbean Scholarship - Sasha Woodroffe Central America and the Caribbean 1 2000 Caribbean Scholarship - Oshea L. Miller Central America and the Caribbean 1 3000 0 0 0 0 0 0 1 Scholastic Inc 557 Broadway New York NY 10012 133385513 251667 n/a n/a Support Grant The University of Texas at Dallas 800 W Campbell Rd AD15 Richardson TX 75080 453072303 501(c)(3) 6500 n/a n/a Research Grant Harlem Academy 1330 Fifth Avenue New York NY 10026 562454573 501(c)(3) 2750 n/a n/a Support Grant Research Grant Research Grant Research Grant Research Grant Hope Academy Charter School 601 Grand Ave Asbury Park NJ 07712 223785563 501(c)(3) 9879 n/a n/a Support Grant Anderson School District Five for Lakeside 400 Pearman Dairy Road Anderson SC 29625 576000222 501(c)(3) 9600 n/a n/a Support Grant Friends of Columbia Secondary School 603 West 115th St New York NY 10025 261146491 501(c)(3) 9426 n/a n/a Support Grant Research Grant Addison Middle School 219 Comstock Street Addison MI 49221 382867998 501(c)(3) 9000 n/a n/a Support Grant Grande Innovation Academy 950N Peart Road Casa Grande AZ 85122 475383250 501(c)(3) 2000 n/a n/a Support Grant Thomas Edison Charter School 3531 22nd Street San Francisco CA 94114 912162243 501(c)(3) 9840 n/a n/a Suppor Grant Roberge Elementary School 617 Westwood Avenue River Vale NJ 07675 113830615 501(c)(3) 4929 n/a n/a Support Grant Central Washington University - Dr Chinmei Yvonne Cheuh 400 E University Way Ellensburg WA 98926 916000618 501(c)(3) 9000 n/a n/a RESEARH Grant EAI Education 118 Bauer Drive PO Box 7046 Oakland NJ 07436 222381343 501(c)(3) 15450 n/a n/a Grant 11 1 Huntington Memorial Scholarship 10 20000 Scholarship Diversity Scholarship 48 125000 Scholarship Stuart A.Robertson Scholarship 2 18000 Scholarship Project Math Mind Scholarship 9 26500 Scholarship Schedule I, PT I Line 2: scheduled intervals over the time of the grant. X 4 31613 Stock Market Value 0 1 0 Form 990, Part I, Line 1: every American has the opportunity to be financially secure. A future where financial worries and stresses all but disappear. Through the unique talents of actuaries, that dream can become a reality beginning today with math education. It is now more important than ever to harness the mathematical potential of our youth. Economic development and growth is contingent on individuals receiving a quality math education to ensure continued technological and scientific progress. By making math more appealing to younger generations, we can inspire them to choose degrees and careers that will help them meaningfully contribute to their communities and secure their financial well-being. Problem-solving skills are essential in a person's work and personal life. What teaches people to think critically and solve challenges? Math. Every day, in many ways, math impacts the world. That is why The Actuarial Foundation strives to equip the public with the tools it needs to make informed decisions and cultivate the next generation of math-skilled thinkers. Form 990, Part III, Line 4a: the Institute of Competition Sciences, a leader in challenge-based learning programs. The current MTF challenges students across the nation to create the best mathematical models projecting how autonomous vehicles might change the future of transportation, insurance and society at large. They 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. Finalists will travel to New York to present their project. The award-winning financial literacy curriculum resource, Building Your Future, has been given to more than 11,000 high school teachers and 450,000 students nationwide. The free booklets are designed to help teens master personal finance principles and prepare for a financially healthy life. Educators are desperate for classroom resources and seek a trusted-partner to provide the latest math and financial literacy education tools. The Foundation is proud to be that partner. Math Motivators is the new tutoring program approved for expansion following a successful pilot in Connecticut. The program helps to close the achievement gap through a volunteer-driven SAT 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. Form 990, Part III, Line 4d: From young to old, from undergraduates to those changing careers, from the disadvantaged to the gifted, the Foundation changes lives through math education, promotes the actuarial profession and cultivates the next generation of actuaries through various scholarship programs. Fifty one percent of all scholarship recipients achieve actuarial designation. In 2016, The Foundation awarded 48 Diversity Scholarships. In 2016, The Actuary of Tomorrow Stuart A. Robertson Memorial Scholarship, the Curtis E. Huntington Memorial Scholarship and the Caribbean Actuarial Scholarship awarded students pursuing studies in math and actuarial science with 15 scholarships worth $44,000, while the Actuary A Career Change: Elizabeth M. Mauro Reimbursement Program provided 7 individuals making the transition to the actuarial profession with $7,000 in aid. Form 990, Part VI, Section B, line 11b THE SECRETARY/TREASURER HAS REVIEWED THE 990 ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 12A: MEMBERS OF THE GOVERNING BODY ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ANNUALLY. Form 990, Part VI, Section B, line 12c The Compensation Committee gathers information regarding the Executive Director's salary annually and documents performance along with any merit increase. Form 990, Part VI, Section C, line 19 If requested, a copy of the 990 is sent via mail or email to the party requesting. Form 990, Part XII, Line 2c: THERE WERE NO CHANGES IN THE REVIEW PROCESS FROM THE PRIOR YEAR.