TERC INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- TERC INC (EIN 04-6134355)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-09-25
- IRS object ID
- 202442699349300619
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-09-25T08:42:57-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 042571780 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | AAFCPAS INC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 50 WASHINGTON STREET | AddressLine1Txt |
| City | WESTBOROUGH | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01581 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 046134355 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TERC INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | TERC | BusinessNameControlTxt |
| Phone | 6178739600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2067 MASSACHUSETTS AVENUE | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02140 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | KATHLEEN DONAHUE | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6178739600 | PhoneNum |
| Signature | 2024-09-23 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | KATIE BELANGER CPA | PreparerPersonNm |
| PTIN | P01585213 | PTIN |
| Phone | 5083669100 | PhoneNum |
| Preparation | 2024-09-23 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | LAURIE BRENNAN | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2067 MASSACHUSETTS AVENUE | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02140 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $20,069,692 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.TERC.EDU | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1965 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | TERC IS A NONPROFIT MADE UP OF TEAMS OF MATH AND SCIENCE EDUCATION AND RESEARCH EXPERTS DEDICATED TO INNOVATION AND CREATIVE PROBLEM SOLVING. AT THE FRONTIER OF THEORY AND PRACTICE, TERC'S WORK ENCOMPASSES RESEARCH, CONTENT AND CURRICULUM DEVELOPMENT, TECHNOLOGY INNOVATION, PROFESSIONAL DEVELOPMENT, AND PROGRAM EVALUATION. TERC HAS A PASSION FOR SOCIAL JUSTICE AND STRIVES TO CREATE LEVEL PLAYING FIELDS FOR ALL LEARNERS, REACHING MILLIONS OF LEARNERS EVERY YEAR. | ActivityOrMissionDesc |
| Voting Members Governing Body | 12 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 12 | VotingMembersIndependentCnt |
| Total Employee | 104 | TotalEmployeeCnt |
| Total Volunteers | 12 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $10,104,302 | PYContributionsGrantsAmt |
| CY Contributions Grants | $10,979,837 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $490,612 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,166,266 | CYProgramServiceRevenueAmt |
| PY Investment Income | $4,862,255 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,778,576 | CYInvestmentIncomeAmt |
| PY Other Revenue | $1,504,952 | PYOtherRevenueAmt |
| CY Other Revenue | $1,000,276 | CYOtherRevenueAmt |
| PY Total Revenue | $16,962,121 | PYTotalRevenueAmt |
| CY Total Revenue | $14,924,955 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $8,757,394 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $9,459,001 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $32,439 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $5,148,000 | PYOtherExpensesAmt |
| CY Other Expenses | $6,873,618 | CYOtherExpensesAmt |
| PY Total Expenses | $13,905,394 | PYTotalExpensesAmt |
| CY Total Expenses | $16,332,619 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $3,056,727 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$1,407,664 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $24,386,453 | TotalAssetsBOYAmt |
| Total Assets EOY | $23,443,599 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $5,946,492 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $5,662,068 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $18,439,961 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $17,781,531 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SUPPORT REFORM IN BOTH INSTITUTIONAL AND INFORMAL SETTINGS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $12,507,369 | ExpenseAmt |
| Revenue | $2,166,542 | RevenueAmt |
| Desc | TERC IS A CAMBRIDGE, MA BASED NONPROFIT MADE UP OF TEAMS OF FORWARD-THINKING STEM EXPERTS DEDICATED TO INNOVATION AND CREATIVE PROBLEM SOLVING. TERC BELIEVES GREAT FUTURES ARE BUILT THROUGH MATH AND SCIENCE. FOR MORE THAN 50 YEARS, TERC HAS TAKEN A LEARNER-CENTERED APPROACH TO EDUCATION IN BOTH FORMAL AND INFORMAL SETTINGS. AT THE FRONTIER OF THEORY AND PRACTICE, TERC'S WORK ENCOMPASSES RESEARCH, CONTENT AND CURRICULUM DEVELOPMENT, TECHNOLOGY INNOVATION, PROFESSIONAL DEVELOPMENT, AND PROGRAM EVALUATION. THROUGH TERC'S CURRICULA AND PROGRAMS, STUDENTS DEVELOP THE KNOWLEDGE AND SKILLS NEEDED TO ASK QUESTIONS, SOLVE PROBLEMS, AND EXPAND THEIR OPPORTUNITIES. TERC'S PROFESSIONAL DEVELOPMENT HELPS TEACHERS AND FACILITATORS UTILIZE NEW TOOLS, MATERIALS, AND INQUIRY-BASED STRATEGIES TO ENRICH THE LEARNERS. | Desc |
| Total Program Service Expenses | $12,507,369 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 204 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 104 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 12 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 12 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (1) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | OR | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KATHLEEN DONAHUE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6178739600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2067 MASSACHUSETTS AVENUE | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02140 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (21 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|
| LAURIE BRENNAN | |||||||
| PRESIDENT | 40.00 | Yes (X) | $282,792 | $0 | $19,043 | ||
| KAREN ECONOMOPOULOS | |||||||
| CO-DIRECTOR | 40.00 | $157,353 | $0 | $46,348 | Yes (X) | ||
| JONI FALK | |||||||
| CENTER LEADER | 40.00 | $182,293 | $0 | $13,217 | Yes (X) | ||
| GILLIAN PUTTICK | |||||||
| SR. SCIENTIST | 40.00 | $149,418 | $0 | $38,868 | Yes (X) | ||
| JAMES HAMMERMAN | |||||||
| DIRECTOR | 40.00 | $144,017 | $0 | $33,685 | Yes (X) | ||
| CARA DIMATTIA | |||||||
| DIRECTOR OF INFORMATION TECHNOLOGY | 40.00 | $130,362 | $0 | $43,753 | Yes (X) | ||
| KATHLEEN DONAHUE | |||||||
| CFO ( AS OF 09/2023) | 40.00 | Yes (X) | $67,260 | $0 | $10,042 | ||
| GAIL STEVENS | |||||||
| INTERIM CFO (UNTIL 12/31/2023) | 40.00 | Yes (X) | $0 | $0 | $0 | ||
| NADINE BONDA | |||||||
| CHAIR | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CHRISTINA OLAYON-BAKER | |||||||
| TREASURER | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| ORESTES MARINOS-IATRIDES | |||||||
| CLERK (AS OF 10/2023) | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| LAWRENCE PETIT-FRERE | |||||||
| CLERK (UNTIL 05/2023) | 0.50 | Yes (X) | $0 | $0 | $0 | Yes (X) | |
| CHINYERE CHI ONYEBUCHI | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| DIANE SOUVAINE | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| ELEANORA VILLEGAS-REIMERS | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| JAY LABOV | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| JOSEPH JOHNSON JR | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| JANICE D JACKSON | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| ROSEANN TUNG | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| GEORGIA HALL | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| CINDY DAI | |||||||
| TRUSTEE | 0.50 | $0 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $1,113,495 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $204,956 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 26 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (3 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| CLIFTONLARSONALLEN LLP | |||||
| PO BOX 829709 | PHILADELPHIA | PA | 19182 | CONSULTANT (CFO) | $288,721 |
| KARYL JS ASKEW | |||||
| 755 SE 78TH AVENUE | HILLSBORO | OR | 97123 | CONSULTING | $177,267 |
| INSOURCE SERVICES INC | |||||
| 148 LINDEN ST | WELLESLEY | MA | 02482 | CONSULTING | $123,439 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 3 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $9,316,870 | GovernmentGrantsAmt |
| All Other Contributions | $1,662,967 | AllOtherContributionsAmt |
| Total Contributions | $10,979,837 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| EXCHANGE | 900099 | $930,170 | $930,170 |
| WORKSHOPS | 900099 | $236,096 | $236,096 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,166,266 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $374,531 | TotalRevenueColumnAmt |
| Exclusion | $374,531 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $929,977 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $929,977 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $6,548,782 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,144,737 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $1,404,045 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,404,045 | TotalRevenueColumnAmt |
| Exclusion | $1,404,045 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $70,299 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $70,299 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $70,299 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $14,924,955 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $2,166,542 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,778,576 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $379,137 | TotalAmt |
| Management And General | $379,137 | ManagementAndGeneralAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,080,181 | TotalAmt |
| Program Services | $5,531,102 | ProgramServicesAmt |
| Management And General | $1,549,079 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $327,374 | TotalAmt |
| Program Services | $250,463 | ProgramServicesAmt |
| Management And General | $76,911 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,108,486 | TotalAmt |
| Program Services | $824,387 | ProgramServicesAmt |
| Management And General | $284,099 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $563,823 | TotalAmt |
| Program Services | $413,685 | ProgramServicesAmt |
| Management And General | $150,138 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,234 | TotalAmt |
| Management And General | $35,234 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $86,562 | TotalAmt |
| Management And General | $86,562 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,428 | TotalAmt |
| Management And General | $90,428 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,136,714 | TotalAmt |
| Program Services | $3,055,199 | ProgramServicesAmt |
| Management And General | $58,315 | ManagementAndGeneralAmt |
| Fundraising | $23,200 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $29,760 | TotalAmt |
| Program Services | $29,760 | ProgramServicesAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,373,887 | TotalAmt |
| Program Services | $1,016,624 | ProgramServicesAmt |
| Management And General | $357,263 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $266,677 | TotalAmt |
| Program Services | $254,996 | ProgramServicesAmt |
| Management And General | $11,681 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $81,381 | TotalAmt |
| Program Services | $63,452 | ProgramServicesAmt |
| Management And General | $17,929 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| OUTSIDE SERVICES | $1,062,005 | $565,439 | $489,366 | $7,200 |
| OTHER | $522,045 | $393,506 | $126,500 | $2,039 |
| SUPPLIES AND MATERIALS | $188,925 | $108,756 | $80,169 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,332,619 | TotalAmt |
| Program Services | $12,507,369 | ProgramServicesAmt |
| Management And General | $3,792,811 | ManagementAndGeneralAmt |
| Fundraising | $32,439 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,867,919 | BOYAmt |
| EOY | $596,621 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,057 | BOYAmt |
| EOY | $2,063 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,215,984 | BOYAmt |
| EOY | $1,698,168 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $850,796 | BOYAmt |
| EOY | $551,417 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $88,876 | BOYAmt |
| EOY | $201,301 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $770,222 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $578,296 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $273,307 | BOYAmt |
| EOY | $191,926 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,692,540 | BOYAmt |
| EOY | $17,629,223 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,394,974 | BOYAmt |
| EOY | $2,572,880 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,386,453 | BOYAmt |
| EOY | $23,443,599 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,741,621 | BOYAmt |
| EOY | $2,452,205 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $41,924 | BOYAmt |
| EOY | $91,020 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,162,947 | BOYAmt |
| EOY | $3,118,843 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,946,492 | BOYAmt |
| EOY | $5,662,068 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,931,607 | BOYAmt |
| EOY | $17,515,374 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $508,354 | BOYAmt |
| EOY | $266,157 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,439,961 | BOYAmt |
| EOY | $17,781,531 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,386,453 | BOYAmt |
| EOY | $23,443,599 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$1,407,664 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $749,234 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8,947,543 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,719,073 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $10,648,796 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $10,104,302 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $10,979,837 | CurrentTaxYearAmt |
| Total | $49,399,551 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $8,947,543 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $8,719,073 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $10,648,796 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $10,104,302 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $10,979,837 | CurrentTaxYearAmt |
| Total | $49,399,551 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total170 | $49,399,551 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,005,032 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $1,764,991 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $1,282,829 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,702,110 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $1,304,508 | CurrentTaxYearAmt |
| Total | $8,059,470 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | $42,189 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,764 | CurrentTaxYearMinus2YearsAmt |
| Total | $56,953 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $57,515,974 | TotalSupportAmt |
| Gross Receipts Rltd Activities | $6,224,248 | GrossReceiptsRltdActivitiesAmt |
| Public Support CY170 | 0.85890 | PublicSupportCY170Pct |
| Public Support PY170 | 0.83710 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $234,090 | OtherCostOrOtherBasisAmt |
| Depreciation | $58,523 | DepreciationAmt |
| Book Value | $175,567 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $536,132 | OtherCostOrOtherBasisAmt |
| Depreciation | $519,773 | DepreciationAmt |
| Book Value | $16,359 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $191,926 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (2 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| DEPOSITS | $29,072 |
| RIGHT-OF-USE ASSET - OPERATING LEASE | $2,543,808 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $2,572,880 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| OPERATING LEASE OBLIGATIONS | $2,920,225 |
| CONDITIONAL GRANT ADVANCES | $198,618 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $3,118,843 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $15,707,999 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $749,234 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $124,238 | DonatedServicesAndUseFcltsAmt |
| Revenue Not Reported | $873,472 | RevenueNotReportedAmt |
| Revenue Subtotal | $14,834,527 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $90,428 | InvestmentExpensesNotIncldAmt |
| Revenue Not Reported Fincl Stmt | $90,428 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $14,924,955 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $16,366,429 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $124,238 | DonatedServicesUseFcltsAmt |
| Expenses Not Reported | $124,238 | ExpensesNotReportedAmt |
| Expenses Subtotal | $16,242,191 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $90,428 | InvestmentExpensesNotIncld2Amt |
| Expenses Not Rpt Fincl Stmt | $90,428 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $16,332,619 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | TERC ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TERC HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT DECEMBER 31, 2023 AND 2022. TERC'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (6 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LAURIE BRENNAN | ||||||||||||||
| PRESIDENT | $282,792 | $0 | $0 | $0 | $0 | $0 | $13,990 | $0 | $5,053 | $0 | $301,835 | $0 | $0 | $0 |
| KAREN ECONOMOPOULOS | ||||||||||||||
| CO-DIRECTOR | $157,353 | $0 | $0 | $0 | $0 | $0 | $8,251 | $0 | $38,097 | $0 | $203,701 | $0 | $0 | $0 |
| JONI FALK | ||||||||||||||
| CENTER LEADER | $182,293 | $0 | $0 | $0 | $0 | $0 | $6,965 | $0 | $6,252 | $0 | $195,510 | $0 | $0 | $0 |
| GILLIAN PUTTICK | ||||||||||||||
| SR. SCIENTIST | $149,418 | $0 | $0 | $0 | $0 | $0 | $7,830 | $0 | $31,038 | $0 | $188,286 | $0 | $0 | $0 |
| JAMES HAMMERMAN | ||||||||||||||
| DIRECTOR | $144,017 | $0 | $0 | $0 | $0 | $0 | $7,526 | $0 | $26,159 | $0 | $177,702 | $0 | $0 | $0 |
| CARA DIMATTIA | ||||||||||||||
| DIRECTOR OF INFORMATION TECHNOLOGY | $130,362 | $0 | $0 | $0 | $0 | $0 | $5,846 | $0 | $37,907 | $0 | $174,115 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | DURING 2023, GAIL STEVENS WAS THE INTERIM CFO THROUGH CLIFTONLARSONALLEN AND RECEIVED $288,721 IN COMPENSATION FOR OVERSEEING THE FINANCIAL OPERATIONS OF THE ORGANIZATION. |
| FORM 990, PART VI, SECTION B, LINE 11B | A COPY OF THE 990 IS PRESENTED TO FIRST BY THE CFO TO THE TREASURER FOR REVIEW AND QUESTIONS AND IS THEN SHARED WITH THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES, AND FINALLY THE FULL BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 12C | TERC HAS A CONFLICT OF INTEREST TRAINING THAT NEW STAFF UNDERTAKE, A CONFLICT OF INTEREST FORM THAT ANY RESEARCHER MUST FILL OUT BEFORE WORKING WITH FEDERAL FUNDS, AND A CONFLICT OF INTEREST COMMITTEE TO REVIEW THE FORMS AND ADDRESS CONFLICTS THAT MAY ARISE. |
| FORM 990, PART VI, SECTION B, LINE 15A | COMPENSATION REVIEW FOR PRESIDENT: THE PROCESS FOR DETERMINING COMPENSATION FOR THE PRESIDENT IS CONDUCTED BY AN INDEPENDENT GROUP CONSISTING OF MEMBERS OF THE BOARD OF TRUSTEES. CARE IS TAKEN TO ENSURE THAT THERE IS NO CONFLICT OF INTEREST WITH RESPECT TO BOARD MEMBERS SELECTED TO CONDUCT THE REVIEW. RECOMMENDATIONS FOR COMPENSATION ARE PRESENTED TO AND APPROVED IN EXECUTIVE SESSION OF THE BOARD AT ITS MAY MEETING. AS PART OF ITS REVIEW THE BOARD SUBCOMMITTEE REQUESTS OF THE DIRECTOR OF HUMAN RESOURCES (DHR) COMPENSATION DATA ON SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE COMPARABILITY IS BASED ON A COMPARISON OF THE JOB DUTIES OF THE PRESIDENT WITH A SIMILARLY SITUATED POSITION AT ANOTHER ORGANIZATION SIMILAR TO TERC IN SIZE, NONPROFIT STATUS, AND OVERALL MISSION, AS WELL AS SIMILAR GEOGRAPHICAL LOCATION. THE DHR OBTAINS THIS DATA FROM (1) 990S FILED WITH GUIDESTAR AND (2) A COMMISSIONED ANALYSIS FROM A PROFESSIONAL COMPENSATION CONSULTANT. THE RESULT OF THE BOARD REVIEW OF THE COMPENSATION FOR THE PRESIDENT IS RECORDED BY THE CHAIR OF THE BOARD AND FORWARDED TO THE DHR FOR PLACEMENT IN THE PERSONNEL FILE OF THE PRESIDENT AND SERVES AS INSTRUCTION TO PROCESS THE SALARY INCREASE. COMPENSATION REVIEW FOR THE CHIEF FINANCIAL OFFICER (CFO) IS DETERMINED BY THE PRESIDENT, TO WHOM THE CFO REPORTS. AS WITH ALL POSITIONS AT TERC, INCLUDING THOSE OF OTHER OFFICERS AND KEY EMPLOYEES, THE APPROPRIATE RANGE FOR THE POSITION IS DETERMINED THROUGH A COMPENSATION ANALYSIS CONDUCTED BY AN INDEPENDENT CONSULTANT, USING SURVEY DATA FROM COMPARABLE ORGANIZATIONS AND MATCHED WITH THE JOB RESPONSIBILITIES AND LEVEL OF EXPERIENCED REQUIRED TO FULFILL THE CFO POSITION. COMPENSATION ANALYSES ARE CONDUCTED APPROXIMATELY EVERY 3 YEARS. THE LAST COMPENSATION ANALYSIS WAS CONDUCTED IN 2021. THE SALARY OF THE CFO IS REVIEWED BY THE PRESIDENT ANNUALLY AS PART OF THE SALARY REVIEW PROCESS. ANY RECOMMENDATION FOR A RAISE BASED ON NEW DUTIES ASSUMED OR EXTRAORDINARY GROWTH IN THE POSITION IS DOCUMENTED BY THE PRESIDENT AND PRESENTED TO THE SALARY COMMITTEE FOR REVIEW. DOCUMENTATION ON THE FINAL SALARY IS MAINTAINED IN THE OFFICE OF THE DHR. A SIMILAR PROCESS IS CONDUCTED FOR DETERMINING COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES. |
| FORM 990, PART VI, SECTION C, LINE 19 | TERC MAINTAINS ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS INTERNALLY AND ARE AVAILABLE BY REQUEST BY THE PUBLIC. TERC ALSO UPLOADS A COPY OF THE FILED 990 ON GUIDESTAR.ORG. |
| FORM 990, PART IX, LINE 11G | OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 3,055,199. MANAGEMENT AND GENERAL EXPENSES 58,315. FUNDRAISING EXPENSES 23,200. TOTAL EXPENSES 3,136,714. |
| FORM 990, PART XII, LINE 2C: | THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | EDUCATIONAL VENTURES INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2067 MASSACHUSETTS AVENUE | AddressLine1Txt |
| City | CAMBRIDGE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02140 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043372257 | EIN |
| Primary Activities | EDUCATIONAL RESEARCH | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TERC INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |