Future Founders Foundation
- Assets
- $1.8m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 16
- Location
- Chicago, IL
- Founding
- 04/2012
- Data as of
- 06/2021
- EIN
- 45-3340650
Organization Overview
Future Founders Foundation is located in Chicago, IL. The organization was established in 2012. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Future Founders Foundation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Future Founders 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 06/2021, Future Founders Foundation generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $1.8m during the year ending 06/2021. While expenses have increased by 16.0% per year over the past 6 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION BELIEVES EVERY YOUTH CAN BECOME AN ENTREPRENEUR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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" SUMMER INTERNSHIP.
FUTURE FOUNDERS STARTUP: WE HELP DIVERSE 18 TO 30-YEAR-OLDS FROM ACROSS THE NATION LAUNCH AND SCALE THEIR OWN BUSINESSES. FOUNDERS PARTICIPATE IN THE STARTUP BOOTCAMP, FELLOWSHIP AND/OR ALUMNI ACCELERATOR PROGRAMS OR OUR U.PITCH NATIONAL COLLEGIATE ELEVATOR PITCH COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Issen President & | OfficerTrustee | 50 | $142,936 |
Brad Keywell Chairman | OfficerTrustee | 2 | $0 |
Kevin Willer Treasurer | OfficerTrustee | 2 | $0 |
Karl Darin Director | Trustee | 2 | $0 |
Matthew Goldfine Director | Trustee | 2 | $0 |
Maria Burud Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $127,055 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,788,846 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,915,901 |
| Total Program Service Revenue | $0 |
| Investment income | $2,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,919,326 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $749,659 |
| Grants and other assistance to Foreign Orgs/Individuals | $65,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $153,877 |
| Compensation of current officers, directors, key employees. | $4,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $476,255 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $71,549 |
| Payroll taxes | $52,821 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,075 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,167 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,762,288 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,086 |
| Savings and temporary cash investments | $1,638,003 |
| Pledges and grants receivable | $0 |
| 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 | $5,938 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,500 |
| Total assets | $1,823,527 |
| Accounts payable and accrued expenses | $208,270 |
| 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 | $133,720 |
| Total liabilities | $341,990 |
| Net assets without donor restrictions | $1,461,537 |
| Net assets with donor restrictions | $20,000 |
| 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 | $1,823,527 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Future Founders Foundation has recieved totaling $216,956.
| Awarding Organization | Amount |
|---|---|
Motorola Solutions Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $106,000 |
Ford Motor Co Fund Dearborn, MI PURPOSE: EDUCATION | $50,000 |
Ford Motor Co Fund Dearborn, MI PURPOSE: BETTER WORLD | $30,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $20,000 |
Equity Residential Foundation Chicago, IL PURPOSE: CONTRIBUTION TO SUPPORT PROGRAMS THAT INSPIRE AND EMPOWER YOUTHS TO BECOME ENTREPRENEURS | $5,000 |
Coleman Foundation Inc Chicago, IL PURPOSE: ENTREPRENEURSHIP - GENERAL OPERATING SUPPORT | $4,900 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |
AbbVie Employee Assistance Fund Inc North Chicago, IL | $0 | $8,759,468 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Alfred I Dupont Awards Foundation Chicago, IL | $0 | $4,985,997 |
Accenture Foundation Inc Chicago, IL | $134,926,823 | $15,596,009 |
Rooted Alliance Inc Chicago, IL | $2,335,555 | $4,487,602 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |