Future Founders Foundation

Nonprofit profile at a glance

EIN
453340650
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3123500334
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,025,295
Expenses
$992,374
Assets
$2,082,875
Liabilities
$362,107

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • SCOTT ISSEN (PRESIDENT &)

Highest reported compensation

  • SCOTT ISSEN (PRESIDENT &): $198,559 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Future founders is building the nation's largest inclusive community of intentional young entrepreneurs and entrepreneurial-minded leaders.

What it reported doing in 2024

Future founders discover: we empower middle and high schoolers from chicago's most underserved neighborhoods to discover entrepreneurship and develop entrepreneurial skills. Students benefit from in-school workshops and out-of-school experiences including startup spring break and the "be your own boss" internship.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 75
  • Accountability: 89
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.3%; rating input score 90
  • Program expense ratio: 92.5%; rating input score 92
  • Fundraising efficiency: $45.08 raised per $1 spent on fundraising; rating input score 76; 76th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 23rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.2%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 2.1; rating input score 66; 66th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 20%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: 4.1% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 2.4% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 8.5% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 90.3% of revenue deployed · 92.5% of spending went to programs
  • Governance: 9 of 10 board members independent · 7 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $918K in reported program spending
  • Leadership: top reported pay $199K · 10 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 45/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.