2025-03-05T14:36:49-06:00 2024-12-31 390758449 WIPFLI LLP 2501 W BELTLINE HWY STE 501 MADISON WI 53713 990 2024-01-01 205095136 FUTURE LEADERS OF AMERICA FOUNDATION INC FUTU 8009946752 320 W OHIO STREET 4W CHICAGO IL 60654 MICHAEL ADAMS CHAIRMAN 8009946752 2025-03-05 1 1 QUINN DUGAN P02267768 6082741980 2025-03-05 2024 2025-03-06 01:10:19Z NATIONAL STUDENT LEADERSHIP FND MICHAEL ADAMS 320 W OHIO STREET 4W CHICAGO IL 60654 37313917 0 X WWW.NSLCLEADERS.ORG X 2006 IL TO PROVIDE SUMMER EDUCATIONAL PROGRAMS FOR HIGH SCHOOL STUDENTS WHICH ENCOURAGE STUDENTS TO EXPLORE THEIR ACADEMIC AND CAREER INTERESTS WHILE DEVELOPING LEADERSHIP SKILLS ESSENTIAL FOR THEIR SUCCESS. 4 4 0 4 0 0 0 0 36580687 37220104 0 93813 0 0 36580687 37313917 259850 215306 0 0 0 0 0 0 0 36320837 37070854 36580687 37286160 0 27757 380342 408099 0 0 380342 408099 TO PROVIDE SUMMER EDUCATIONAL PROGRAMS FOR HIGH SCHOOL STUDENTS WHICH ENCOURAGE STUDENTS TO EXPLORE THEIR ACADEMIC AND CAREER INTERESTS WHILE DEVELOPING LEADERSHIP SKILLS ESSENTIAL FOR THEIR SUCCESS. 0 0 30309659 0 36513622 SUMMER EDUCATIONAL PROGRAMS THAT PROVIDE STUDENTS WITH THE OPPORTUNITY TO EXPERIENCE LIFE ON A COLLEGE CAMPUS, DEVELOP ESSENTIAL LEADERSHIP SKILLS, AND EXPLORE A FUTURE CAREER THROUGH EXCITING SIMULATIONS, EXCLUSIVE SITE VISITS AND INTERACTIVE MEETINGS WITH RENOWNED LEADERS IN THEIR CHOSEN FIELD. 35306 35306 0 THE FOUNDATION AWARDS GRANTS TO PUBLICLY SUPPORTED CHARITABLE AND EDUCATIONAL I.R.C. SECTION 501(C)(3) ORGANIZATIONS TO SUPPORT THEIR MISSION. 180000 180000 0 THE FOUNDATION AWARDS SCHOLARSHIPS TO STUDENTS WHO ARE ALUMNI OF NSLF PROGRAMS AND ARE ALSO INCOMING FRESHMEN TO A UNIVERSITY THAT SPONSORS NSLF PROGRAMS. 30524965 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 555 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 1 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 IL X X MICHAEL CLEARY 8009946752 320 W OHIO ST SUITE 4W CHICAGO IL 60654 X MICHAEL ADAMS CHAIRMAN 0.30 X X 0 0 0 KRISTINA DUFFY VICE CHAIRMAN 0.30 X X 0 0 0 MICHAEL BENNETT SECRETARY 0.30 X X 0 0 0 NATHANIEL SILVER TREASURER 0.30 X X 0 0 0 0 0 0 0 0 0 0 0 TUITION INCOME 611710 36513622 36513622 BOOKS/SUPPLIES/FEES 611710 484687 484687 TRANSPORTATION 480000 221795 221795 37220104 93813 93813 37313917 36513622 0 800295 35306 35306 180000 180000 7912198 5934148 1978050 2384293 2384293 1819043 1819043 2964102 2964102 3344571 3344571 9072826 9072826 793172 793172 STUDENT/STAFF MEALS 4301394 4301394 PROGRAM MATERIALS 2087155 2087155 FIELD TRIPS 2069075 2069075 EQUIPMENT RENT 323025 323025 37286160 30524965 6761195 0 380342 408099 380342 408099 0 0 X 380342 408099 380342 408099 380342 408099 27757 0 X X 0 1 X 0 0 X 2998233 13517008 29963469 35770045 36513622 118762377 810642 706482 1517124 2998233 13517008 29963469 36580687 37220104 120279501 0 0 0 120279501 93813 93813 93813 93813 2998233 13517008 29963469 36580687 37313917 120373314 0.99920 1.00000 0.00080 X 0 37313917 0 37313917 0 37313917 37286160 0 37286160 0 37286160 1 SCHOLARSHIPS FOR EDUCATIONAL PROGRAMS 35 180000 FUTURE LEADERS OF AMERICA INC 35%+ OWNED BY AN OFFICER/DIRECTOR 7912198 MANAGEMENT FEES 0 FUTURE LEADERS OF AMERICA INC 35%+ OWNED BY AN OFFICER/DIRECTOR 3344571 ROYALTIES 0 FORM 990, PART VI, SECTION A, LINE 3 FUTURE LEADERS OF AMERICA FOUNDATION, INC. HAS A CONTRACTUAL RELATIONSHIP WITH FUTURE LEADERS OF AMERICA, INC. (FLA) WHERE FLA AGREES TO PROVIDE MANAGEMENT SERVICES SUCH AS PROGRAMS SERVICES, PREPARATION OF THE ANNUAL BUDGET, GENERAL ADMINISTRATION, CLERICAL SERVICES AND SUPPORT, AND ACCOUNTING AND FINANCIAL SERVICES. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS GIVEN TO EACH MEMBER OF THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. EACH MEMBER OF THE BOARD OF DIRECTORS INDIVIDUALLY REVIEWS THE FORM 990 AND PROVIDES FEEDBACK TO THE TAX RETURN PREPARER. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL MAIL GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS UPON REQUEST. FORM 990, PART XII, LINE 1 THE FOUNDATION'S FINANCIAL STATEMENTS ARE PREPARED ON THE MODIFIED CASH BASIS OF ACCOUNTING, WHICH IS A COMPREHENSIVE BASIS OF ACCOUNTING OTHER THAN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES. THIS BASIS DIFFERS FROM ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES PRIMARILY BECAUSE REVENUE IS RECOGNIZED WHEN RECEIVED INSTEAD OF WHEN EARNED EITHER OVER TIME OR AT A POINT IN TIME, AND EXPENSES ARE RECORDED WHEN PAID INSTEAD OF WHEN INCURRED. THIS BASIS DIFFERS FROM THE CASH BASIS OF ACCOUNTING BECAUSE ASSETS SUCH AS PROPERTY AND EQUIPMENT, GOODWILL AND WEBSITE DEVELOPMENT COSTS ARE RECORDED. DEPRECIABLE ASSETS ARISING FROM CASH TRANSACTIONS ARE DEPRECIATED OR AMORTIZED OVER THEIR ESTIMATED USEFUL LIVES. PAYROLL TAXES AND OTHER AMOUNTS WITHHELD FROM EMPLOYEES ARE RECORDED. ADDITIONALLY, GOODWILL IS NOT AMORTIZED AND PROPERTY AND EQUIPMENT, GOODWILL AND WEBSITE DEVELOPMENT COSTS ARE NOT TESTED FOR IMPAIRMENT.