2025-10-21T09:19:19-05:00 2024-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-01-01 046134355 TERC INC TERC 6178739600 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 CHRISTINE REICH PRESIDENT 6178739600 2025-10-16 1 1 KATIE BELANGER CPA P01585213 5083669100 2025-10-16 2024 2025-03-06 01:10:19Z CHRISTINE REICH 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 19714267 0 X WWW.TERC.EDU X 1965 MA 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. 9 9 102 9 0 0 10979837 10508382 1166266 1201719 1778576 1829020 1000276 861856 14924955 14400977 0 0 0 0 9459001 9714712 0 0 9739 6873618 6622069 16332619 16336781 -1407664 -1935804 23443599 20868750 5662068 4318932 17781531 16549818 SUPPORT REFORM IN BOTH INSTITUTIONAL AND INFORMAL SETTINGS. 0 0 12405479 2063575 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. 12405479 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 269 0 1 102 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA NY OR X X CHRISTINE REICH 6178739600 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 NADINE BONDA CHAIR 0.50 X X 0 0 0 ORESTES MARINOS-IATRIDES CLERK 0.50 X X 0 0 0 CINDY DAI TREASURER 0.50 X X 0 0 0 DIANE SOUVAINE TRUSTEE 0.50 X 0 0 0 ELEANORA VILLEGAS-REIMERS TRUSTEE 0.50 X 0 0 0 JAY LABOV TRUSTEE 0.50 X 0 0 0 JOSEPH JOHNSON JR TRUSTEE (UNTIL 1/2024) 0.50 X 0 0 0 GEORGIA HALL TRUSTEE 0.50 X 0 0 0 JANICE JACKSON TRUSTEE 0.50 X 0 0 0 MARINA UMASCHI BERS TRUSTEE (UNTIL 12/2024) 0.50 X 0 0 0 MARTIN STORKSDIECK TRUSTEE 0.50 X 0 0 0 LAURIE BRENNAN PRESIDENT (UNTIL 6/30/25) 40.00 X 292335 0 19976 KATHLEEN DONAHUE CFO (UNTIL 1/15/25) 40.00 X 219123 0 23098 KAREN ECONOMOPOULOS CO-DIRECTOR 40.00 X 160799 0 49427 GILLIAN PUTTICK SR. SCIENTIST 40.00 X 159079 0 40520 JAMES HAMMERMAN DIRECTOR 40.00 X 148182 0 39910 CAROL LUMM HR DIRECTOR 40.00 X 152666 0 21694 MARLENE KLIMAN LEADER 40.00 X 145775 0 39757 1277959 0 234382 24 0 1 0 DIGITAL PROMISE 1001 CONNECTICUT AVENUE NW SUITE 9 WASHINGTON DC 20036 CONSULTING 312417 KARYL JS ASKEW 755 SE 78TH AVENUE HILLSBORO OR 97123 CONSULTING 208228 INSOURCE SERVICES INC 148 LINDEN ST WELLESLEY MA 02482 CONSULTING 127847 PATRICIA A RIMO 15 WALNUT DRIVE PO BOX 206 BROWNSTOWN PA 17508 CONSULTING 121993 4 8830951 1677431 10508382 EXCHANGE 900099 886322 886322 WORKSHOPS 900099 315397 315397 1201719 373996 373996 779586 779586 6768314 5313290 1455024 1455024 1455024 OTHER 900099 82270 82270 82270 14400977 2063575 0 1829020 X 554532 554532 7221569 5598232 1623337 337985 266269 71716 1030435 767174 263261 570191 417473 152718 35954 35954 76920 76920 91941 91941 2928884 2855734 73150 28924 28924 979864 715301 264563 302423 284878 17545 71526 63158 8368 OUTSIDE SERVICES 1100764 609773 483391 7600 SUPPLIES AND MATERIALS 529678 328019 200060 1599 OTHER 475191 470544 4107 540 16336781 12405479 3921563 9739 596621 539042 2063 5809 1698168 1261639 551417 677618 201301 155649 770222 649822 191926 120400 17629223 16370393 2572880 1738200 23443599 20868750 2452205 2102573 91020 232578 3118843 1983781 5662068 4318932 X 17515374 16501027 266157 48791 17781531 16549818 23443599 20868750 -1935804 704091 0 X X 0 1 X 1 1 1 X 8719073 10648796 10104302 10979837 10508382 50960390 8719073 10648796 10104302 10979837 10508382 50960390 50960390 1764991 1282829 1702110 1304508 1153582 7208020 42189 14764 56953 58225363 7185543 0.87520 0.85890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 234090 117046 117044 536132 532776 3356 120400 DEPOSITS 29072 RIGHT-OF-USE ASSET - OPERATING LEASE 1709128 1738200 OPERATING LEASE OBLIGATIONS 1983781 1983781 X 15013127 704091 704091 14309036 91941 91941 14400977 16244840 0 16244840 91941 91941 16336781 PART X, LINE 2: 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, 2024 AND 2023. TERC'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS. X 0 0 0 0 0 0 0 0 0 LAURIE BRENNAN PRESIDENT (UNTIL 6/30/25) 292335 0 0 0 0 0 14479 0 5497 0 312311 0 0 0 KATHLEEN DONAHUE CFO (UNTIL 1/15/25) 219123 0 0 0 0 0 11211 0 11887 0 242221 0 0 0 KAREN ECONOMOPOULOS CO-DIRECTOR 160799 0 0 0 0 0 8474 0 40953 0 210226 0 0 0 GILLIAN PUTTICK SR. SCIENTIST 159079 0 0 0 0 0 8361 0 32159 0 199599 0 0 0 JAMES HAMMERMAN DIRECTOR 148182 0 0 0 0 0 7751 0 32159 0 188092 0 0 0 MARLENE KLIMAN LEADER 145775 0 0 0 0 0 7598 0 32159 0 185532 0 0 0 CAROL LUMM HR DIRECTOR 152666 0 0 0 0 0 7809 0 13885 0 174360 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE 990 IS PRESENTED 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. ADDITIONALLY, THERE IS AN ANNUAL FINANCIAL DISCLOSURE FORM THAT ALL PI'S/CO-PI'S MUST COMPLETE. 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 2,855,734. MANAGEMENT AND GENERAL EXPENSES 73,150. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,928,884. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. EDUCATIONAL VENTURES INC 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 043372257 EDUCATIONAL RESEARCH MA TERC INC C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0