The Actuarial Foundation

Nonprofit profile at a glance

EIN
363968441
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Schaumburg, IL, USA
Phone
8477063535
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$3,232,923
Expenses
$4,551,413
Assets
$3,814,321
Liabilities
$332,191

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

Leadership & pay

31 people listed

Executive titles in this filing

  • VALERIE THOMPSON (EXECUTIVE DIRECTOR)

Highest reported compensation

  • VALERIE THOMPSON (EXECUTIVE DIRECTOR): $255,702 total reported compensation
  • MICHAEL MARION (DIRECTOR OF DEVELOPMENT): $125,015 total reported compensation

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

Overview

Mission

The actuarial foundation, a 501(c)(3) organization, is a philanthropic partner of the actuarial professionin the united states. Since 1994, the foundation has led the way to create quality math education initiatives for students, teachers, and families. Our mission is to unleash the power of math education and transform futures by leveraging the talents and resources of the actuarial community. Our vision is a future where everyone experiences confidence and opportunities available through math proficiency.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 59% for direct work, and 41% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 67
  • Accountability: 90
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.9%; rating input score 93
  • Program expense ratio: 65.8%; rating input score 66
  • Fundraising efficiency: $4.01 raised per $1 spent on fundraising; rating input score 13; 13th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Fail
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -40.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 61; 61st percentile among comparable filings
  • Officer compensation ratio: 8.4%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: 15.9% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 70th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 92.9% of revenue deployed · 65.8% of spending went to programs
  • Governance: 30 of 30 board members independent · 6 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $3M in reported program spending
  • Leadership: top reported pay $256K · 31 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $607K reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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.

  • High — Transparency & Controls: Foreign activity oversight: 8 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 13/100.
  • High — Sustainability: Operating margin scored 3/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.