MESSAGE FROM THE CHAIR
Message from the Executive Director
THE ACTUARIAL PROFESSION GIVES BACK
Since 2004, The Actuarial Foundation has received support from the U.S. actuarial organizations. Their trust and encouragement are key elements in the Foundation’s growth and continued success as the U.S. philanthropic organization for the actuarial profession. Thank you to these organizations for supporting our mission and vision.
To enhance math education and financial literacy through the talents and resources of actuaries.
An educated public in pursuit of a secure financial future.
Thank you to all of our incredible volunteers and donors who have given their time, talent and resources to further our mission and programs. We couldn’t do it without you!
Here’s a look at what we’ve accomplished in 2021-2022.
By the Numbers
Students who received FREE math tutoring through our Math Motivators program, thanks to 543 tutors who volunteered 11,187 hours of their time.
Total awarded by the Foundation in scholarship funds to 83 college students.
Students who participated in our Modeling the Future Challenge, with $60,000 in scholarship awards split among the 4 winning teams.
Diverse students successfully recruited for our new STEM Stars Actuarial Scholars Program. Each student received a $5,000 scholarship in 2021-2022 and can receive up to $20,000 over 4 years.
Value of the 14,731 hours our volunteers dedicated to our programs this year.
Our Educate. Connect. Change. Campaign raised $5,167,150, which was 103% of our $5 million goal.
We raised $26,450 for our Modeling the Future Challenge on GivingTuesday.
1,273 people registered to attended Formula 2022, our inaugural Virtual Gala, which raised $479,410 in support of our mission and programs.
101 members of the Casualty Actuarial Society (CAS) stepped up to the challenge and exceeded the CAS Community Counts Campaign goal by more than 60%.
STEM Stars Actuarial Scholars Program
The actuarial profession has a diversity challenge. Many scholarship programs have been developed to increase diversity, yet the needle hasn’t moved. A new approach was needed.
Enter the STEM Stars Actuarial Scholars Program, which identifies, recruits and supports high school students with strong math acumen who are interested in the field. By walking alongside these students and providing an array of supportive services to help keep them on their journey to becoming an actuary, we believe we can successfully increase diversity in the actuarial profession. Each STEM Stars Scholar is matched with two mentors. They check in at least monthly to answer questions and provide feedback.
The program offers high school seniors:
Our STEM Stars Scholars Are Grateful for Your Investment in Their Future
Money Mentors is the Foundation’s new eight-week financial literacy tutoring program that empowers 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.
What makes Money Mentors different from other financial literacy programs is that it is more personalized for students, with a low tutor-to-student ratio (1:1 up to 1:4), Most volunteer tutors are math and financial professionals and receive training and support from our team of professional educators.
Money Mentors was piloted at an Indianapolis-area school in April.
Robert D. Shapiro Memorial Scholarship Fund for Actuarial Excellence
As one of the founding members of The Actuarial Foundation, Bob Shapiro’s visionary leadership, dedication and enthusiasm for serving others made a difference in the lives of many. The Foundation is honored to recognize his life and work by establishing a scholarship fund for future actuaries in Bob’s memory. The scholarship fund is intended to support inclusion, equity and diversity in the actuarial profession by providing an annual scholarship award for rising third- and fourth-year undergraduate college students who have already made the decision to pursue an actuarial career.
The scholarship fund will award each year starting in 2022.
Each recipient will receive a award.
The Modeling the Future Challenge is a real-world competition for high school students that combines math modeling, data analysis and risk management. To compete, students conduct their own research project that models real-world data to analyze risks and make recommendations.
A record number of teams (197) registered and completed Phase One of the 2021-2022 Modeling the Future Challenge. Of those 197 teams, 101 moved on to the Semi-Finals. Thirteen teams then were selected as finalists and were invited to the Virtual Symposium in May to present their projects to a panel of actuary judges. From these finalist teams, 4 were selected as winners.
Modeling the Future Challenge Winners Reflect on Their Experience
Title 1 School Support Program
The Title 1 School Support Program, sponsored by the Casualty Actuarial Society (CAS) and F&G, was launched in Summer 2021 with the goal of increasing and expanding access to the Challenge for high school students who are traditionally underserved.
Lincoln Financial Group
Helen & James C. Galt
Rick & Beth Jones
Roy & Georgia Goldman
Math Motivators offers 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.
Virtual Tutoring Center
In response to school closures and learning loss experienced in 2020, our free Math Motivators tutoring program moved quickly yet cautiously from in-person to virtual tutoring. In 2021, the Virtual Tutoring Center was established to continue providing free virtual tutoring to students across the country, no matter their location, greatly expanding the reach and impact of the program.
There's Always Help When Students Need It
Students Are Succeeding
They’re performing better on tests and getting higher grades. In fact, nearly 50% of students experience an average increase of a full letter-grade or more.
The Hardest Math Problem Student Contest
The Hardest Math Problem Student Contest is an annual contest presented by Scholastic, The Actuarial Foundation and the New York Life Foundation that challenges students in grades 6-8 to solve multistep, grade-specific math problems with real-world situations and engaging characters. It also aims to build confidence with math and establish important foundational math skills for students.
Thank you to the 17 volunteers who judged the contest this year to select the winners.
Total awarded to each of the 3 grand-prize winners as a 529 savings plan
Number of runner-up winners who received the prize of a new tablet
Amount winning teachers from each grade receive as a gift card
Funding Our Mission
Board of Trustees (June 1, 2021 - May 31, 2022)
Immediate Past Chair
Margaret Resce Milkint
Richard de Haan
Michael S. Smith
Emeritus Trustees (June 1, 2021 - May 31, 2022)
Ronald E. Bachman
Craig M. Baldwin
Edward W. Bales
Albert J. Beer
Cecil D. Bykerk
Thomas R. Corcoran
Michael J. Corey
Kevin A. Cormier
Robert V. Deutsch
John W. Ehrhardt
David J. Fishbaum
Douglas A. French
Jacques Goulet, Jr.
Patricia L. Guinn
Curtis D. Hamilton
Jane L. Hamrick
David G. Hartman
Gary R. Josephson
Joseph W. Kelly
Joseph J. Leube
S. Michael McLaughlin, Jr.
Joseph A. Nichols
Rodney R. Rohda
Charles E. Rohm
Walter S. Rugland
David K. Sandberg
John J. Schubert
Carol R. Sears
Frederick J. Sievert
Robert W. Stein
Thomas C. Sutton
Patricia A. Teufel
James A. Tilley
Mavis A. Walters
Dale H. Yamamoto
Amanda E. Young
Deepening Our Impact
Individual Donors and Family Foundations
We appreciate our individual and family foundation donors who share our commitment to strengthening math education and financial literacy.
Each of these donors has created a lasting legacy by making a bequest or estate gift to the Foundation. We are grateful for their generosity, both now and in the future.
Bob and Pat Anker
John and Beverly Antliff
Craig and Merilyn Baldwin
Bob and Maggie Conger
Gary and Consuelo Corbett
Michael and Cathleen Corey
Robert V. Deutsch
Doug and Toni French
Dave and Kitty Hartman
Joe and Michelle Kelly
Jim and Barbara MacGinnitie
John O. Nigh
Steve and Janie Radcliffe
Rod and Lori Rohda
Walter and Amelia Rugland
Steven Schreiber and Amy Lorowitz
Fred and Sue Sievert
Eileen and Bill Streu
Math GEMs – Ensuring Our Success
Thank you to our monthly donors who provide regular and consistent support for our mission and work.
Margaret Resce Milkint
Extending Our Reach
Corporate and Foundation Supporters
We are grateful to our Corporate and Foundation Supporters whose contributions, sponsorships and matching gifts help us reach more students, teachers and families with exciting and an innovative math programs and resources.
National Institute on Retirement
Pinnacle Actuarial Resources Inc.
Reinsurance Association of America
Tokio Marine HCC
Gabriel Roeder Smith & Co
NCCI Holdings, Inc.
The Bannow-Larson Foundation
American Agricultural Insurance Co
Casualty Actuaries of New England
Milliman Seattle Life Practice
Actuarial Careers, Inc.
Buckeye Actuarial Continuing
Guardian Life Insurance Co
Matczak Consulting LLC
Old Providence Presbyterian Church
Pension Research Council
Matching Gift Companies
AIG Matching Gifts Program
Allianz Global Assistance Matching Gift Program
Allstate Giving Campaign
American Family Life Insurance Co
Amica Companies Foundation
Bank of America
Chubb Group of Insurance Companies
Farmers Life Insurance Co
Health Care Service Corporation
John Hancock Financial Services
Johnson & Johnson Foundation
Lincoln Financial Group
Marsh & McLennan Companies
New York Life Insurance
Pacific Life Foundation
RGA Reinsurance Company
Securian Financial Group
Southern California Edison
State Farm Foundation
The Moody's Foundation
The Vanguard Group
Thrivent Financial for Lutherans
United Services Auto Assn
Vanguard Matching Gift Program
Willis Towers Watson
Zurich North America