Future Founders Foundation EIN 45-3340650

Future Founders Foundation

EIN  45-3340650 Public charity (501(c)(3)) Chicago, IL Founded 2011
Form 990 (PDF) Compare with another nonprofit →
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Size
$1–10M
What they do
Builds an inclusive community for young entrepreneurs and leaders.
Leadership
Scott Issen · President & · $199K
Money in and out
$1.0M revenue, $992K expenses
Bottom line
92% program efficiency

Builds an inclusive community for young entrepreneurs and leaders. For fiscal year 2024 it reported $1.0M in revenue, $992K in expenses, and $1.7M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$992K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $33K
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.06 Fundraising $0.02
Program efficiency
92%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
23.8mo
months of highly liquid reserves at operating expense rate▲ +43% vs prior filing year
Surplus margin
+3%
revenue over expenses, this year▼ -56% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.0M
FY2024▼ -30%
Expenses
$992K
FY2024▼ -27%
Total assets
$2.1M
FY2024▲ +4%
Total liabilities
$362K
FY2024▲ +12%
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$992K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$33K
Total assetsPt X · Ln 16$2.1M
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

2 program services account for $918K of program spending, described in the organization's own filed words · FY2024.
01

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" internship.

$500Kprogram expense
02

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, founder SOCIETY(ALUMNI)AND/OR skills-based workshops.

$418Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFuture Founders Foundation
EINHdr · item D45-3340650
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.futurefounders.com
Year of formationHdr · item L2011
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFApr 2012

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President &
$198,559Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Founding Cha
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Scott Issen’s $199K as President & is at the 82nd percentile of top reported officer pay among 3393 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Scott Issen$198,559$170,418$182,210$168,952$142,936$140,560

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$809K · 79%
Program service revenue$138K · 13%
Investment income$78K · 8%
Contributions & grants79%$809K
Program service revenue13%$138K
Investment income8%$78K
Other revenue$229
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.06 Fundraising $0.02
Program services92%$918K
Management & general6%$57K
Fundraising2%$18K
Total functional expensesLn 25$992K

Balance Sheet

Part X · end of year
CashLn 1$1.3M
Total assetsLn 16$2.1M
Total liabilitiesLn 26$362K
Total net assetsLn 32$1.7M
Months of cash on handcomputed15.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $2.0M · Operating expenses/yr $992K
23.8 months
Where the money goes
Program services
Program services $918K · Total expenses $992K
92%
Management & General
Management & general $57K · Total expenses $992K
6%
Fundraising
Fundraising $18K · Total expenses $992K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $29K · Solicited contributions (3-yr avg) $1.1M
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $809K · Total revenue $1.0M
79%
Government reliance
Government grants — · Total revenue $1.0M
Earned-income share
Program service revenue $138K · Total revenue $1.0M
13%
Investment reliance
Investment income $78K · Total revenue $1.0M
+8%
Program self-sufficiency
Program service revenue $138K · Total expenses $992K
14%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $1.5M
-30%
Revenue CAGR
FY2019 $1.4M · FY2024 $1.0M
-6%
Net-asset trend (YoY)
End of year $1.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $992K
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $2.1M
Net-asset ratio
Net assets $1.7M · Total assets $2.1M
83%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $656K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M
31%
People & payroll
Highest Reported Total Compensation
Individual Scott Issen · Reported title PRESIDENT & · Highest reported compensation $199K · Total expenses $992K
20%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $710K · Total expenses $992K
72%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 6%
Fundraising cost ratio 2%
Revenue growth -30%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 10 funders →
Grants paid · 10 grants · $2.0M · 2019–2024
Unitemized GrantFY2024$33,750
Unitemized GrantFY2023$247,500
Unitemized GrantFY2023$38,000
Unitemized GrantFY2022$273,087
Unitemized GrantFY2022$25,628
Unitemized GrantFY2021$525,000
Unitemized GrantFY2021$88,065
Unitemized GrantFY2020$749,659
Unitemized GrantFY2019$32,856
Unitemized GrantFY2019$14,680

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$1.5M revenue · ⤓ 990 PDF
FY2023$1.4M revenue · ⤓ 990 PDF
FY2022$1.8M revenue · ⤓ 990 PDF
FY2021$1.9M revenue · ⤓ 990 PDF
FY2020$1.4M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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