2023-11-09T16:48:51-06:00 2022-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-01-01 046134355 TERC INC TERC 6178739600 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 LAURIE BRENNAN PRESIDENT 6178739600 2023-11-08 1 LAURIE BRENNAN XXX-XX-XXXX 1 KATIE BELANGER CPA P01585213 5083669100 2023-11-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LAURIE BRENNAN 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 21377496 0 X WWW.TERC.EDU X 1965 MA TERC WORKS AT THE FRONTIERS OF THEORY AND PRACTICE TO DEVELOP A DEEPER UNDERSTANDING OF LEARNING AND TEACHING; ENHANCE INSTRUCTION THROUGH TEACHER PROFESSIONAL DEVELOPMENT; DEVELOP APPLICATIONS OF NEW TECHNOLOGIES IN EDUCATION; CREATE CURRICULA AND OTHER PRODUCTS; AND SUPPORT REFORM IN BOTH INSTITUTIONAL AND INFORMAL SETTINGS. 12 12 92 12 0 0 10648796 10104302 385282 490612 1511817 4862255 1107275 1504952 13653170 16962121 0 0 0 0 9162445 8757394 0 0 39921 4303650 5148000 13466095 13905394 187075 3056727 20874819 24386453 1746849 5946492 19127970 18439961 SUPPORT REFORM IN BOTH INSTITUTIONAL AND INFORMAL SETTINGS. 0 0 10344537 5463729 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. 10344537 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 1 194 0 1 92 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA NY OR X X LAURIE BRENNAN 6178739600 2067 MASSACHUSETTS AVENUE CAMBRIDGE MA 02140 LAURIE BRENNAN PRESIDENT 40.00 X 273711 0 18225 JONI FALK CENTER LEADER 40.00 X 182146 0 14699 BRIAN DRAYTON CO-DIRECTOR 40.00 X 156847 0 36356 KAREN ECONOMOPOULOS CO-DIRECTOR 40.00 X 150377 0 42198 GILLIAN PUTTICK SR. SCIENTIST 40.00 X 143163 0 35462 CAROL LUMM HR DIRECTOR 40.00 X 142026 0 17932 CATHERINE LECESSE CHIEF FINANCIAL OFFICER (UNTIL 3/2022) 40.00 X 49807 0 27338 GAIL STEVENS CHIEF FINANCIAL OFFICER 40.00 X 0 0 0 NADINE BONDA CHAIR 0.50 X 0 0 0 MARTIN STORKSDIECK CHAIR (UNTIL 12/2022) 0.50 X X 0 0 0 CHRISTINA OLAYON-BAKER TREASURER 0.50 X X 0 0 0 LAWRENCE PETIT-FRERE CLERK 0.50 X X 0 0 0 EMILY MAITIN CLERK (UNTIL 9/2022) 0.50 X X 0 0 0 CHINYERE CHI ONYEBUCHI TRUSTEE 0.50 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 0.50 X 0 0 0 JANICE D JACKSON TRUSTEE 0.50 X 0 0 0 ROSEANN TUNG TRUSTEE 0.50 X 0 0 0 GEORGIA HALL TRUSTEE 0.50 X 0 0 0 CINDY DAI TRUSTEE 0.50 X 0 0 0 1098077 0 192210 23 0 1 0 INSOURCE SERVICES INC 148 LINDEN ST WELLESLEY MA 02482 CONSULTING 281628 CLIFTONLARSONALLEN LLP PO BOX 829709 PHILADELPHIA PA 19182 CONSULTANT (CFO) 172190 ACCOUNTEMPS 12400 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 CONSULTING 102547 3 7478806 2625496 10104302 WORKSHOPS 900099 251962 251962 EXCHANGE 900099 238650 238650 490612 250812 250812 1451298 1451298 5558653 3468165 4415375 0 1143278 3468165 4611443 3468165 1143278 OTHER 900099 53654 53654 53654 16962121 5463729 0 1394090 X 369081 369081 6573091 5255561 1317530 311718 249355 62363 1007344 785500 221844 496160 376260 119900 28727 28727 60095 60095 82452 82452 2043675 1946425 58850 38400 12123 11997 126 1285415 975483 309932 120927 118105 2822 23671 18039 5632 OUTSIDE SERVICES 1070990 439651 631339 SUPPLIES AND MATERIALS 211972 146638 65334 OTHER 195631 12471 181639 1521 COMMUNICATIONS 12322 9052 3270 13905394 10344537 3520936 39921 306261 3867919 2051 2057 850869 1215984 763566 850796 234718 88876 837050 563743 62888 273307 18625394 14692540 29072 3394974 20874819 24386453 1697387 1741621 49462 41924 0 4162947 1746849 5946492 X 18725242 17931607 402728 508354 19127970 18439961 20874819 24386453 3056727 -3744736 0 X X 0 1 X 1 1 1 X 10092078 8947543 8719073 10648796 10104302 48511792 10092078 8947543 8719073 10648796 10104302 48511792 48511792 2627769 2005032 1764991 1282829 1702110 9382731 42189 14764 56953 57951476 5315754 0.83710 0.81740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 234090 234090 602960 563743 39217 273307 DEPOSITS 29072 RIGHT-OF-USE ASSET - OPERATING LEASE 3365902 3394974 OPERATING LEASE OBLIGATIONS 3820417 CONDITIONAL GRANT ADVANCES 342530 4162947 X 13384345 -3744736 249412 -3495324 16879669 82452 82452 16962121 14072354 249412 249412 13822942 82452 82452 13905394 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, 2022 AND 2021. 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 273711 0 0 0 0 0 13562 0 4663 0 291936 0 0 0 JONI FALK CENTER LEADER 182146 0 0 0 0 0 8485 0 6214 0 196845 0 0 0 BRIAN DRAYTON CO-DIRECTOR 156847 0 0 0 0 0 8071 0 28285 0 193203 0 0 0 KAREN ECONOMOPOULOS CO-DIRECTOR 150377 0 0 0 0 0 7980 0 34218 0 192575 0 0 0 GILLIAN PUTTICK SR. SCIENTIST 143163 0 0 0 0 0 7466 0 27996 0 178625 0 0 0 CAROL LUMM HR DIRECTOR 142026 0 0 0 0 0 7300 0 10632 0 159958 0 0 0 FORM 990, PART VI, SECTION A, LINE 3 DURING 2022, GAIL STEVENS WAS THE INTERIM CFO THROUGH CLIFTONLARSONALLEN AND RECEIVED $172,190 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 A COMMITEE OF BOARD TRUSTEES REVIEWS THE PERFORMANCE OF THE PRESIDENT ON AN ANNUAL BASIS AND DETERMINES AND APPROVES THE SALARY AND ANY SALARY INCREASES FOR THE PRESIDENT ON AN ANNUAL BASIS AS WELL. 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 1,946,425. MANAGEMENT AND GENERAL EXPENSES 58,850. FUNDRAISING EXPENSES 38,400. TOTAL EXPENSES 2,043,675. 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