2013-07-18T07:21:10-07:00 2013-04-30 Costabile & Steffens PC 1805 Hicks Rd Rolling Meadows IL 60008 990 2012-05-01 340714666 FOUNDRY EDUCATIONAL FOUNDATION FOUN 8474909200 1695 N PENNY LANE SCHAUMBURG IL 60173 William W Sorensen 2013-07-10 true Frank J Costabile P00629672 8477763700 2012 2016-02-24 21:20:13Z 8757700 false 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 42 0 446049 551115 132965 123981 189270 508451 0 768284 1183547 370991 400953 0 280186 290505 0 120824 270990 284896 922167 976354 -153883 207193 7429468 7087165 1098183 1145845 6331285 5941320 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 645245 551115 SCHOLARSHIPS AND DISCRETIONARY SCHOOL FUNDS - ADVANCE THE EDUCATION OF PEOPLE IN THE CAST METALS FIELD. 97002 123981 COLLEGE INDUSTRY CONFERENCE - AN EVENT HELD FOR TOP STUDENTS AND KEY PROFESSORS IN THE METAL CASTING FIELD TO LEARN MORE ABOUT THE VARIOUS OPPORTUNITIES IN THE INDUSTRY AND TO PROVIDE CONNECTIONS TO LEADERS IN THE INDUSTRY AND JOB OPPORTUNITIES. 742247 true true false false false true false false false true true false false false true 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 false false false false true 4 0 true 4 true false 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 Bill Sorensen 8474909200 1695 N Penny Lane Schaumburg IL 60173 KEVIN WHEELER 0.00 0.00 0 0 0 JORGE SIERRA 0.00 0.00 0 0 0 LIBBY RYDER 0.00 0.00 0 0 0 JOE MUNIZA 0.00 0.00 0 0 0 DAVE GELWICKS 0.00 0.00 0 0 0 JEREMY EASTMAN 0.00 0.00 0 0 0 MICHELLE ANFINSON 0.00 0.00 0 0 0 BODIE D COOPER 1.00 0.00 X 0 0 0 SANDY CALABRESE 1.00 0.00 X 0 0 0 ERICK NELSON 1.00 0.00 X 0 0 0 EUGENE C MURATORE 1.00 0.00 X 0 0 0 MATT WOSOBA 1.00 0.00 X 0 0 0 JOSHUA WITTENBURG 1.00 0.00 X 0 0 0 MATT SULLIVAN 1.00 0.00 X 0 0 0 LAURA STROHMAYER 1.00 0.00 X 0 0 0 ROBERT STEELE 1.00 0.00 X 0 0 0 ROBERT SMILLIE 1.00 0.00 X 0 0 0 EDWARD KACZMAREK 1.00 0.00 X 0 0 0 RICK L JAMES 1.00 0.00 X 0 0 0 DOUGLAS S IMRIE 1.00 0.00 X 0 0 0 Mark May 1.00 0.00 X 0 0 0 PETE GUIDI 1.00 0.00 X 0 0 0 Maureen P Lynn 1.00 0.00 X 0 0 0 Lee L Lewis 1.00 0.00 X 0 0 0 DAVID SHOUSE 1.00 0.00 X 0 0 0 MARTIN PUTNIK 1.00 0.00 X 0 0 0 Andrew L Iannettoni 1.00 0.00 X 0 0 0 THOMAS DEMPSEY 1.00 0.00 X 0 0 0 Kathy L Hayrynen 1.00 0.00 X 0 0 0 ERIC MEYERS 1.00 0.00 X 0 0 0 JOEY LEONARD 1.00 0.00 X 0 0 0 CRYSTALYN HVAL 1.00 0.00 X 0 0 0 Joseph Costabile 1.00 0.00 X 0 0 0 Thomas A Cobett 1.00 0.00 X 0 0 0 DON CRAIG 1.00 0.00 X 0 0 0 GLENN BYCZYNSKI 1.00 0.00 X 0 0 0 Paul Barker 1.00 0.00 X 0 0 0 KELEY KERNS 1.00 0.00 X 0 0 0 BARRY CRAIG 1.00 0.00 X 0 0 0 TOM ARMSTRONG 1.00 0.00 X 0 0 0 William W Sorensen 35.00 0.00 X X 144805 0 0 144805 1 false false false 0 551115 551115 COLLEGE INDUSTRY CONF. 611710 123981 123981 123981 186263 186263 0 0 0 7896341 7574153 322188 322188 322188 0 0 0 0 1183547 123981 508451 114903 114903 286050 286050 0 0 144805 72403 14480 57922 0 69107 46238 17277 5592 19538 10746 2931 5861 42389 23314 6358 12717 14666 8134 2177 4355 0 766 169 345 252 12205 2685 5614 3906 0 0 34945 34945 19658 17500 2158 4310 2799 73 1438 0 0 0 13500 3754 5993 3753 48302 37955 5618 4729 0 97002 97002 0 0 2369 2369 1368 28 1312 28 TELEPHONE 5750 2112 1716 1922 Postage and Shipping 9335 3840 1943 3552 REPAIRS AND MAINTENANCE 12501 2776 3383 6342 Printing and Publications 16240 4235 3833 8172 6645 3235 3127 283 976354 742247 113283 120824 1476 59829 12908 7913 242079 68250 0 0 0 0 0 0 25951 23039 2260 2912 7170745 6940328 0 0 7933 0 7429468 7087165 16665 19327 1081518 1126518 1098183 1145845 X 36052 -331580 871222 653015 5424011 5619885 6331285 5941320 7429468 7087165 207193 -597158 X false true X true false X 1753054 1069256 448030 446049 551115 4267504 95175 66610 96608 132965 123981 515339 0 0 0 1848229 1135866 544638 579014 675096 4782843 54895 54895 0 54895 54895 4727948 140556 133976 145345 168480 186263 774620 0 140556 133976 145345 168480 186263 774620 0 0 1988785 1269842 689983 747494 861359 5557463 0.85070 0.86870 0.13940 0.10540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12 70 45565 139930 25860 114749 792853 3597759 true true 6295233 140495 134509 178574 118763 6272900 6338640 130315 165851 222556 117017 6295233 6443134 139649 126524 253807 116860 6338640 5862386 793902 268355 269649 211860 6443134 1518531 140527 180851 212977 5862386 5862386 0.89590 0.10410 false false false 25951 23039 2912 2912 FUNDS HELD ON BEHALF OF OTHERS 1126518 1126518 X 586389 -597158 -597158 1183547 1183547 976354 976354 976354 Part X 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. Part V, Line 4 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. true western michigan university dept of ind mfg engr kalamazoo MI 49008 386007327 7794 0 discretionary funds for program exp Univ of Wisconsin - Platteville 1 University Plaza Platteville WI 53818 391805963 14324 0 Discretionary Funds for program exp texas state 601 university dr san marcos TX 78666 741982979 6888 0 discretionary funds for program exp purdue university 401 n grant st west lafayette IN 47907 356002041 7699 0 discretionary funds for program exp pittsburg state university dept of engineering tech pittsburg KS 66762 223981479 11411 0 discretionary funds for program exp missouri u of science & tech 292 mcnutt hall rolla MO 65409 680557741 6169 0 discretionary funds for program exp MICHIAGAN TECH 1400 TOWNSEND DR 512 MM HOUGHTON MI 49931 386005955 10997 0 DISCRETIONARY FUNDS for program exp KENT STATE UNIVERSITY PO BOX 5190 KENT OH 44242 316402079 5330 0 discretionary funds for program exp 0 8 SCHOLARSHIPS FOR STUDENTS 3 15000 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 Executive Director. Charges for randomly selected schools are reviewed each month; every school is reviewed at least one per year. If the Executive Director determines that a cost is questionable, he requests support from the professor. Form 990, Part VI, Line 19 Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The Organization's bylaws are available on its website and upon request. Form 990, Part VI, Line 15a Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management On an annual basis, the Organization's presidend 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 12c 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 11b Form 990, Part VI, Line 11b: Form 990 Review Process The executive committee and executive director review and approve of Form 990 before it is signed and filed by the executive director.