Nonprofit · EIN 04-6134355
TERC INC
Tax-exempt · CAMBRIDGE, MA 02140
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $14,400,977 | $16,336,781 | -$1,935,804 | $20,868,750 | $4,318,932 | $16,549,818 |
| December 31, 2023 | 990 | $14,924,955 | $16,332,619 | -$1,407,664 | $23,443,599 | $5,662,068 | $17,781,531 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $10,508,382
- of which government grants
- $8,830,951
- Program service revenue
- $1,201,719
- Investment income
- $1,829,020
- Royalties
- $779,586
- Net gain from sales of assets
- $1,455,024
- Other revenue
- $861,856
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $554,532
- Other salaries and wages
- $7,221,569
- Salaries, compensation and benefits (total)
- $9,714,712
- Professional fundraising fees
- $0
- Legal fees
- $35,954
- Accounting fees
- $76,920
- Occupancy
- $979,864
- Travel
- $302,423
- Depreciation
- $71,526
- Program services (functional)
- $12,405,479
- Management and general (functional)
- $3,921,563
- Fundraising (functional)
- $9,739
Balance sheet and other
- Total assets, start of year
- $23,443,599
- Total assets, end of year
- $20,868,750
- Total liabilities, end of year
- $4,318,932
- Net assets, end of year
- $16,549,818
- Land, buildings and equipment
- $120,400
- Publicly traded securities
- $16,370,393
- Net assets without donor restrictions
- $16,501,027
- Net assets with donor restrictions
- $48,791
- Gross receipts
- $19,714,267
- Employees
- 102
- Volunteers
- 9
- Year formed
- 1965
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LAURIE BRENNAN | PRESIDENT (UNTIL 6/30/25) Officer | 40 | $292,335 | $19,976 |
| KATHLEEN DONAHUE | CFO (UNTIL 1/15/25) Officer | 40 | $219,123 | $23,098 |
| KAREN ECONOMOPOULOS | CO-DIRECTOR Highest-paid employee | 40 | $160,799 | $49,427 |
| GILLIAN PUTTICK | SR. SCIENTIST Highest-paid employee | 40 | $159,079 | $40,520 |
| JAMES HAMMERMAN | DIRECTOR Highest-paid employee | 40 | $148,182 | $39,910 |
| MARLENE KLIMAN | LEADER Highest-paid employee | 40 | $145,775 | $39,757 |
| CAROL LUMM | HR DIRECTOR Highest-paid employee | 40 | $152,666 | $21,694 |
| NADINE BONDA | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| ORESTES MARINOS-IATRIDES | CLERK Trustee or director, Officer | 0.5 | $0 | $0 |
| CINDY DAI | TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| DIANE SOUVAINE | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| ELEANORA VILLEGAS-REIMERS | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| JAY LABOV | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| JOSEPH JOHNSON JR | TRUSTEE (UNTIL 1/2024) Trustee or director | 0.5 | $0 | $0 |
| GEORGIA HALL | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
3 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JANICE JACKSON | TRUSTEE Trustee or director | 0.5 | $0 |
| MARINA UMASCHI BERS | TRUSTEE (UNTIL 12/2024) Trustee or director | 0.5 | $0 |
| MARTIN STORKSDIECK | TRUSTEE Trustee or director | 0.5 | $0 |
990 for the year ended December 31, 2023: 21 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| LAURIE BRENNAN | PRESIDENT Officer | 40 | $282,792 | $19,043 |
| KAREN ECONOMOPOULOS | CO-DIRECTOR Highest-paid employee | 40 | $157,353 | $46,348 |
| JONI FALK | CENTER LEADER Highest-paid employee | 40 | $182,293 | $13,217 |
| GILLIAN PUTTICK | SR. SCIENTIST Highest-paid employee | 40 | $149,418 | $38,868 |
| JAMES HAMMERMAN | DIRECTOR Highest-paid employee | 40 | $144,017 | $33,685 |
| CARA DIMATTIA | DIRECTOR OF INFORMATION TECHNOLOGY Highest-paid employee | 40 | $130,362 | $43,753 |
| KATHLEEN DONAHUE | CFO ( AS OF 09/2023) Officer | 40 | $67,260 | $10,042 |
| GAIL STEVENS | INTERIM CFO (UNTIL 12/31/2023) Officer | 40 | $0 | $0 |
| NADINE BONDA | CHAIR Trustee or director, Officer | 0.5 | $0 | $0 |
| CHRISTINA OLAYON-BAKER | TREASURER Trustee or director, Officer | 0.5 | $0 | $0 |
| ORESTES MARINOS-IATRIDES | CLERK (AS OF 10/2023) Trustee or director, Officer | 0.5 | $0 | $0 |
| LAWRENCE PETIT-FRERE | CLERK (UNTIL 05/2023) Trustee or director, Officer | 0.5 | $0 | $0 |
| CHINYERE CHI ONYEBUCHI | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| DIANE SOUVAINE | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| ELEANORA VILLEGAS-REIMERS | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| JAY LABOV | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| JOSEPH JOHNSON JR | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| JANICE D JACKSON | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| ROSEANN TUNG | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| GEORGIA HALL | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
| CINDY DAI | TRUSTEE Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2067 MASSACHUSETTS AVE, CAMBRIDGE, MA 02140-1340
- In care of
- % TECH
- Principal officer (990 for 2024)
- CHRISTINE REICH, 2067 MASSACHUSETTS AVENUE, CAMBRIDGE, MA 02140
- Signed the 990
- CHRISTINE REICH, PRESIDENT
- Phone
- (617) 873-9600
- Website
- WWW.TERC.EDU
- Return prepared by
- AAFCPAS INC
Mission
SUPPORT REFORM IN BOTH INSTITUTIONAL AND INFORMAL SETTINGS.
Program accomplishments
- 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.Expenses $12,405,479 · revenue $2,063,575
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-6134355
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1967
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U40B)
- Assets (IRS master file)
- $20,868,750
- Income (IRS master file)
- $19,714,267
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $14,400,977 | $16,336,781 | $20,868,750 | IRS |
| 990 | December 2023 | $14,924,955 | $16,332,619 | $23,443,599 | XML |
| 990 | December 2022 | $16,962,121 | $13,905,394 | $24,386,453 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-6134355).
Questions about TERC INC
- What is the EIN of TERC INC?
- The employer identification number (EIN) of TERC INC is 04-6134355.
- Is TERC INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1967.
- Are donations to TERC INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TERC INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of TERC INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did TERC INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of TERC INC?
- The 990 for the year ended December 31, 2024 names CHRISTINE REICH.
- Who are the officers and directors of TERC INC?
- The 990 for the year ended December 31, 2024 lists 18 people; 7 received compensation from the organization, the highest $292,335 (LAURIE BRENNAN, PRESIDENT (UNTIL 6/30/25)).
- How much revenue does TERC INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $14,400,977, expenses of $16,336,781 and total assets of $20,868,750 at year end.
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