PLATINUM2023

The Actuarial Foundation

aka Actuarial Foundation   |   Schaumburg, IL   |  http://www.actuarialfoundation.org

Mission

The Actuarial Foundation’s mission is to enhance math education and financial literacy through the talents and resources of actuaries. Our vision is an educated public in pursuit of a secure financial future.

Ruling year info

1995

Executive Director

Mr. Jason Leppin

Main address

1515 E Woodfield Rd Ste 625

Schaumburg, IL 60173 USA

Show more contact info

EIN

36-3968441

NTEE code info

Fund Raising and/or Fund Distribution (T12)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Sign in or create an account to view Form(s) 990 for 2022, 2021 and 2020.
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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

We are the only philanthropic organization for the actuarial profession. For nearly 30 years, we’ve used the talent and resources of actuaries to empower American schoolchildren with math education and financial literacy. The last three years at the Foundation have been especially innovative. There’s a dramatic increase in the number of students joining our math competitions, our tutoring program is poised to expand to 15 cities, and thousands more students are using our financial literacy programs. Researchers continually find that American students are not prepared to apply math in real-life situations. Falling behind in math today doesn’t bode well for having exciting and rewarding STEM careers tomorrow. When students use our programs, we move them away from the routine memorization of complex formulas to using numbers as tools to ask creative questions, see the world’s patterns, and ultimately, think logically to solve problems.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Math Education Programs

Our youth education programs inspire a new generation of "math-skilled" thinkers by delivering educational opportunities tailored to teachers and students in grades 4-12. Resources developed for teachers include hands-on activities, lesson plans, online activities and educational enrichment initiatives, including the opportunity to apply for math grants.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups
Children and youth

Through Math Motivators, we offer free virtual and in-person math tutoring to underserved students in grades 3–12 who need and want tutoring but otherwise cannot afford it. The goal of Math Motivators is to close the opportunity gap to, in turn, close the achievement gap by using a volunteer-driven math tutoring program that pairs underserved students with professionals and college students with strong mathematics backgrounds. We offer free virtual and in-person math tutoring using a 2:1 model. Two students of similar ability are paired with one tutor, who works with the students to help them become proficient in math. Approximately 75% of participating students are eligible for free or reduced school lunch, and 70% identify as Black, African American, Latino/Latina or of Spanish origin.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups
Children and youth
Young adults

The Modeling the Future Challenge is a national high school competition available to juniors and seniors. Through this competition, student teams are challenged to create and present their own mathematical models of how a new technology or industry might change in the future. At the same time, they learn about the opportunities open to them in STEM-related professions, including as actuaries. From driverless vehicles to climate change and crop issues to homicide rates, these talented students identify the problem, gather data, then model it just like an actuary would. Teams that move into the finals present their reports to a panel of volunteer judges (who are actuaries) and compete for up to $60,000 in scholarships.

Population(s) Served
Economically disadvantaged people
Adolescents
Young adults

Through Money Mentors, we empower young people to make conscious choices about their resources, time, and energy. We focus on the basics of thinking about money coming in and money going out, and we avoid getting bogged down in details that aren’t relevant or practical. We strive for growth and discovery. This four-part tutoring program pairs a volunteer mentor with a student across 8-10 weeks of weekly sessions. The course features a career path exploration tool, an investment simulator, finance video games, and other engaging activities and exercises. Through Money Mentors, we facilitate discussions around finances to empower young people to make conscious choices about their money.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups
Adolescents
Young adults

We are working to effectively address the barriers to diversity, inclusiveness, equity, and belonging in the actuarial world. More than a scholarship program, STEM Stars is a community of help that starts in high school, extends into college, and continues through a career.

Each Scholar receives a $20,000 scholarship and:
• Trained and dedicated mentors by their side to support them throughout their college journey.
• Through partnerships with corporations and universities, we provide students with networking opportunities and put them in spaces college students usually are not offered.  
• Because of our strong relationships with teachers, counselors, students, and mentors through our other programs, our Scholars have access to career exploration opportunities to better support their goal of becoming an actuary.
• We also provide a strong community of support that will grow each year so that every cohort that enters the program will be a part of something bigger.

Population(s) Served
Economically disadvantaged people
Ethnic and racial groups
Adolescents
Young adults

Where we work

Awards

Power of A - Summit Award 2018

American Society of Associations Executives

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollars received in contributions

This metric is no longer tracked.
Totals By Year
Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Number of students who receive free math and financial literacy tutoring

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Includes all programs.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Changing Lives Through Math Education!
There is a critical need for improved math education and financial literacy in the United States. Only 36 percent of
American fourth graders and 34 percent of eighth graders are proficient in math. This lack of proficiency produces adults
who cannot plan for their financial futures. Currently only 50 percent of American households have at least three months'
expenses in reserve, while 27 percent have no established savings, and more than one-third of baby boomers plan to rely
on Social Security as their primary source of retirement income. Americans need improved math and financial
literacy education.
The Actuarial Foundation strives to meet this need. Through the generous contributions of donors and volunteers,
the Foundation provides free math education and financial literacy resources to students, teachers and consumers to
enhance lives and create secure financial futures. Applying the prudent management and unique skills of actuaries,
the Foundation's innovative resources address the classroom need for engaging, real-world math lessons as well as
the desire for understandable and accessible financial information for the public. The Actuarial Foundation equips
the public with the tools to make informed decisions and cultivates the next generation of math-skilled thinkers.

Improve Results of Foundation Programs
Implementation of program evaluation process
Finalize risk management policy
Launch chair-person think tank
Implement fundraising plan that engages the Board and the profession
Increase the scale of TAF to provide greater resources to our programs and services
Take Project Math Minds competition national
Strengthen awareness of The Actuarial Foundation
Launch TAF brand and marketing campaign
Evaluate and seek strategic alliances to support the mission of The Actuarial Foundation
Expand TAF partnership with Scholastic

Promote the Profession: TAF advances the actuarial profession through recruitment and education.
Industry Connection: TAF is well connected with actuarial groups and individuals across the United
States.
Philanthropy of the Profession: TAF receives support from actuaries and organizations across the U.S. to
fulfill its mission to enhance math education and financial literacy.
Math-Focused Volunteer Opportunities: TAF provides experiential, math-focused volunteer
opportunities.
Ten Year Partnership with Scholastic: TAF has a 10 year partnership with Scholastic to produce middle
school math education materials and games for students.
Free Materials Developed with Actuaries: TAF provides quality materials developed with actuaries, free
of charge.
Scholarships and Mentors for Actuarial Students: TAF has direct access to actuary volunteers willing
to share their experience with students and scholarship recipients.

Key 2016 Accomplishments:
1. Secured three new $100,000 major donations
2. Implemented and completed program evaluation process to monitor the effectiveness of existing programs and services
3. Launched process to refresh our brand and public image
4. Launched Chairperson's Think Tank to help TAF discover it's next "big" idea
5. Developing new national math competition (Project Math Minds) to attract high school students to the actuarial profession
6. Expanded partnership with Scholastic publishing to include more middle school math education programs and new on-line gaming platform to teach math to 6-8 graders
7. Launched our new donor loyalty society

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We act on the feedback we receive

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback

Financials

The Actuarial Foundation
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

The Actuarial Foundation

Board of directors
as of 07/28/2023
SOURCE: Self-reported by organization
Board chair

Mr. Andy Ferris

Deloitte Consulting, LLP

Term: 2023 - 2024

Jeremy Engdahl-Johnson

Milliman, Inc.

Jeffrey Johnson

Global Atlantic Financial Company

Nadine Orloff

Willis Towers Watson

Sharon Robinson

Retired

Joanne Spalla

Actuary, Consultant

Nora Benanti

Arch Capital Group Ltd.

Andrea Christopherson

Kelly Cusick

Deloitte Consulting LLP

Alex DeWitt

Allstate Insurance Company

Cynthia Edwalds

Retired

Steve Eisenstein

KPMG LLP

Olga Jacobs

UnitedHealthCare

Emily Gingrich

Corebridge Financial

Richard Jones

Aon

Ted Lyle

Retired

Jerry Mingione

The Terry Group

Cande Olsen

Actuarial Resources Corporation of Georgia

Eric Sherman

New York Life Insurance Company

Steve White

Retired

Chad Wischmeyer

Retired

Anand Khare

Ledger Investing

Craig Buck

Ernst & Young

Travis Lappe

Travelers Insurance

Kassie Maroney

HCSC

Lela Patrik

PricewaterhouseCoopers LLP

Steve Rominske

Retired

Elizabeth Sander

OdysseyRe

Richard Veys

Retired

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 7/28/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data