PLATINUM2024

FUTURE FOUNDERS FOUNDATION

aka Future Founders   |   Chicago, IL   |  www.futurefounders.com
GuideStar Charity Check

FUTURE FOUNDERS FOUNDATION

EIN: 45-3340650


Mission

Future Founders is building the nation’s largest inclusive community of intentional young entrepreneurs and entrepreneurial-minded leaders. Our programs immerse youth in experiences that inspire and empower them to adopt an entrepreneurial mindset and create their own opportunity. We believe this leads to a generation more determined, hopeful and equipped as they engage the future. Since 2005, we have served over 44,000 youth, and our national 18 to 30-year-old founders have generated $325M in revenue, secured $250M in capital and created 1,700 jobs. Join us as we empower the next generation of business leaders and entrepreneurs.

Ruling year info

2012

President & CEO

Scott Issen

Main address

222 W. Merchandise Mart Plaza, Suite 1212

Chicago, IL 60654 USA

Show more contact info

EIN

45-3340650

Subject area info

Entrepreneurship

Youth mentoring

Economics for youth

Population served info

Adolescents

Young adults

Low-income people

Children and youth

NTEE code info

Business, Youth Development (O53)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

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

Tax forms

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Future Founders is building the nation’s largest inclusive community of intentional young entrepreneurs and entrepreneurial-minded leaders. Future Founders places enormous emphasis on diversity, as we believe it’s long overdue for our businesses to mirror the rich culture of our people. Because this diversity will eventually lead us to a better future - a world where our businesses reflect our people, and opportunity, choice, and economic freedom are available to all.

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?

Discover Workshops

A series of workshops that equip Chicago Public School students with the skills and confidence they need to succeed in the 21st Century.

Population(s) Served
Adolescents

A week-long entrepreneurship camp run in partnership with Google that empowers middle school girls to create their own app-based business.

Population(s) Served
Adolescent girls

A multi-week paid virtual internship where high school students explore the Chicago startup ecosystem before creating and pitching their own businesses.

Population(s) Served
Adolescents
Adolescents
Adolescents

A crash course in “Startup 101” designed to help underestimated and underrepresented 18 to 30-year-olds turn their idea or side hustle into a business.

Population(s) Served

A prestigious year-long cohort designed to support young entrepreneurs from across the country to grow and lead sustainable companies.

Population(s) Served
Young adults
Young adults

Where we work

Our results

SOURCE: Self-reported by organization

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

Number of students enrolled

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

Input - describing resources we use

Direction of Success

Increasing

Number of jobs created and maintained

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

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Additional revenue and wages generated attributable to the organization's efforts

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

Outcome - describing the effects on people or issues

Direction of Success

Increasing

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.

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

To us, “entrepreneur” isn’t a job title. It’s a mindset. One that allows you to take control of your future and pursue what matters most to you. To be an entrepreneur is to be a leader. To raise your hand. To solve the problem. To take the initiative. And when done correctly, to leave the world a little bit better than you found it.

We’ve spent the last 11 years immersing over 44,000 youth in experiences that inspire and empower them to adopt an entrepreneurial mindset and create their own opportunity. For our middle and high school students, Future Founders provides the first meaningful experience with entrepreneurship. And for our 18 to 30-year-olds, Future Founders offers the validation, skill-building, and network young founders need to start and grow profitable businesses.

While our community of founders is inclusive to all, we place enormous emphasis on diversity, as we believe it’s long overdue for our businesses to mirror the rich culture of our people. Because this diversity will eventually lead us to a better future - a world where our businesses reflect our people, and opportunity, choice, and economic freedom are available to all.

Future Founders was created to foster inclusion in the entrepreneurial community and to seed more diverse founders into the entrepreneurial ecosystem. Our programs immerse youth in experiences that inspire and empower them to adopt an entrepreneurial mindset and create their own opportunity. We believe this leads to a generation more determined, hopeful and equipped as they engage the future.

For our middle and high school students, Future Founders provides the first meaningful experience with entrepreneurship. And for our 18 to 30-year-olds, Future Founders offers the validation, skill-building, and network young founders need to start and grow profitable businesses.

Since 2005, we have served over 44,000 youth, and our national 18 to 30-year-old founders have generated $325M in revenue, secured $250M in capital and created 1,700 jobs.

Join us as we empower the next generation of business leaders and entrepreneurs.

Financials

FUTURE FOUNDERS FOUNDATION
Fiscal year: Jul 01 - Jun 30
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

3.63

Average of 9.04 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990

14.3

Average of 13.1 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

18%

Average of 7% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

FUTURE FOUNDERS FOUNDATION

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

FUTURE FOUNDERS FOUNDATION

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

FUTURE FOUNDERS FOUNDATION

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990 info

This snapshot of FUTURE FOUNDERS FOUNDATION’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $158,282 -$12,034 $239,414 $460,038 $69,383
As % of expenses 20.3% -1.2% 22.2% 26.1% 3.9%
Unrestricted surplus (deficit) after depreciation $158,282 -$12,034 $239,414 $460,038 $69,383
As % of expenses 20.3% -1.2% 22.2% 26.1% 3.9%
Revenue composition info
Total revenue (unrestricted & restricted) $906,986 $1,071,684 $1,380,267 $1,919,326 $1,843,017
Total revenue, % change over prior year 5.6% 18.2% 28.8% 39.1% -4.0%
Program services revenue 0.3% 1.5% 1.7% 0.0% 5.3%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 0.5% 0.7% 0.4% 0.2% 0.1%
Government grants 0.0% 0.0% 0.0% 6.6% 0.0%
All other grants and contributions 99.2% 97.8% 97.8% 93.2% 87.4%
Other revenue 0.0% 0.0% 0.2% 0.0% 7.3%
Expense composition info
Total expenses before depreciation $778,704 $996,218 $1,080,353 $1,762,288 $1,773,634
Total expenses, % change over prior year 8.7% 27.9% 8.4% 63.1% 0.6%
Personnel 61.8% 60.3% 69.1% 42.8% 42.8%
Professional fees 0.0% 0.0% 0.0% 0.0% 0.0%
Occupancy 4.1% 5.8% 2.8% 1.1% 1.2%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 6.3% 6.2% 4.4% 46.2% 36.3%
All other expenses 27.7% 27.8% 23.7% 9.8% 19.7%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $778,704 $996,218 $1,080,353 $1,762,288 $1,773,634
One month of savings $64,892 $83,018 $90,029 $146,857 $147,803
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $0 $0 $0 $0 $0
Total full costs (estimated) $843,596 $1,079,236 $1,170,382 $1,909,145 $1,921,437

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 16.2 14.2 16.0 12.4 14.3
Months of cash and investments 16.2 14.2 16.0 12.4 14.3
Months of estimated liquid unrestricted net assets 11.9 9.2 11.1 10.0 10.4
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $1,049,318 $1,180,267 $1,437,371 $1,814,089 $2,112,578
Investments $0 $0 $0 $0 $0
Receivables $0 $1,040 $120,000 $0 $2,000
Gross land, buildings, equipment (LBE) $0 $0 $0 $0 $0
Accumulated depreciation (as a % of LBE) 0.0% 0.0% 0.0% 0.0% 0.0%
Liabilities (as a % of assets) 10.3% 14.1% 15.6% 18.8% 27.3%
Unrestricted net assets $774,119 $762,085 $1,001,499 $1,461,537 $1,530,920
Temporarily restricted net assets $175,000 $262,500 N/A N/A N/A
Permanently restricted net assets $0 $0 N/A N/A N/A
Total restricted net assets $175,000 $262,500 $323,000 $20,000 $20,000
Total net assets $949,119 $1,024,585 $1,324,499 $1,481,537 $1,550,920

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

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

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

President & CEO

Scott Issen

Number of employees

Source: IRS Form 990

FUTURE FOUNDERS FOUNDATION

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

FUTURE FOUNDERS FOUNDATION

Board of directors
as of 01/18/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Jason VandeBoom

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