Foundry Educational Foundation
- Assets
- $12.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 5
- Location
- Schaumburg, IL
- Founding
- 10/1958
- Data as of
- 04/2024
- EIN
- 34-0714666
Organization Overview
Foundry Educational Foundation is located in Schaumburg, IL. The organization was established in 1958. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 04/2024, Foundry Educational Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundry Educational Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2024, Foundry Educational Foundation generated $1.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $2.0m during the year ending 04/2024. While expenses have increased by 5.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Foundry Educational Foundation has awarded 103 individual grants totaling $1,418,151. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Lewis Executive Dir. | OfficerTrustee | 40 | $167,870 |
Ryan Brattrud Director | Trustee | 1 | $0 |
Les Brown Director | Trustee | 1 | $0 |
Tom Dempsey Treasurer | Trustee | 1 | $0 |
Jason Gutierrez Director | Trustee | 1 | $0 |
Johnny Hill Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,085,580 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,085,580 |
| Total Program Service Revenue | $209,907 |
| Investment income | $279,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $250,928 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,826,279 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $377,994 |
| Grants and other assistance to domestic individuals. | $396,272 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,213 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $167,870 |
| Compensation of current officers, directors, key employees. | $16,787 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $282,364 |
| Pension plan accruals and contributions | $38,677 |
| Other employee benefits | $103,779 |
| Payroll taxes | $34,135 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $17,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $60,001 |
| Fees for services: Other | $66,337 |
| Advertising and promotion | $25,282 |
| Office expenses | $7,118 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,394 |
| Travel | $121,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $221,730 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,811 |
| Insurance | $2,046 |
| All other expenses | $1,899 |
| Total functional expenses | $2,023,577 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $430,224 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $88,850 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,153 |
| Net Land, buildings, and equipment | $2,014 |
| Investments—publicly traded securities | $11,945,734 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,472,975 |
| Accounts payable and accrued expenses | $35,322 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $35,322 |
| Net assets without donor restrictions | -$2,793,835 |
| Net assets with donor restrictions | $15,231,488 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,472,975 |
Grants Awarded
Over the last fiscal year, Foundry Educational Foundation has awarded $332,648 in support to 19 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA SOUTHERN UNIVERSITY PURPOSE: discretionary funds for program exp | $21,525 |
CALIFORNIA STATE POLYTECHNIC PURPOSE: discretionary funds for program exp | $12,875 |
KENT STATE UNIVERSITY PURPOSE: discretionary funds for program exp | $7,995 |
MICHIGAN TECH PURPOSE: DISCRETIONARY FUNDS for program exp | $13,521 |
MISSOURI S&T PURPOSE: discretionary funds for program exp | $5,440 |
MICHIGAN TECH MSE PURPOSE: OVERTURE GRANT | $10,000 |