2017-05-30T14:43:33-07:00 2016-12-31 990 2016-01-01 046134355 TECHNICAL EDUCATION RESEARCH CENTERS INC TECH 6178739600 2067 Massachusetts Avenue Cambridge MA 02140 Nira Voss CFO 6178739600 2017-05-30 140.245.103.222 2016 2021-01-29 14:40:06Z TERC Laurie Brennan 2067 Massachusetts Ave Cambridge MA 02140 17552648 0 X www.terc.edu X 1965 MA Educational Research and Development 10 10 111 0 0 0 9234849 10156102 673253 475574 899123 616100 2640363 3673923 13447588 14921699 0 0 0 0 8990786 9411264 0 0 51261 5798072 5053344 14788858 14464608 -1341270 457091 17972382 18928206 1627340 1559113 16345042 17369093 To Improve mathematics and science teaching and learning 0 0 11346591 4149497 TERC is a not-for-profit education research and development organization founded in 1965. It's mission is to improve mathematics and science teaching and learning. To accomplish its mission, TERC conducts research, develops curriculum and professional development programs, and provides technical assistance to districts and schools. In 2016, TERC conducted more than 60 research and development initiatives that served learners in K-12 classrooms, museums, afterschool programs, adult education centers, universities, and other research institutions. Each year, TERC programs and products reach at least 3.5 million students. In 2016, more than 1000 educators participated in TERC workshops and seminars. 0 0 0 11346591 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 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 1 186 0 1 111 1 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY X X Technical Education Research Centers Inc 6178739600 2067 Massachusetts Avenue Cambridge MA 02140 George Hein Co-Chairman 0.5 0 X X 0 0 0 Martin Storksdieck Co-Chairman 0.5 0 X X 0 0 0 Robert Miller Treasurer 0.5 0 X X 0 0 0 Emily Maitin Clerk 0.5 0 X X 0 0 0 Chris Dede Trustee 0.5 0 X 0 0 0 Louis Gomez Trustee 0.5 0 X 0 0 0 Rosann Tung Trustee 0.5 0 X 0 0 0 Marta Civil Trustee 0.5 0 X 0 0 0 Janice Jackson Trustee 0.5 0 X 0 0 0 Jo Anne Vasquez Trustee 0.5 0 X 0 0 0 Laurie Brennan President 40 0 X 221285 0 15122 Nira Voss CFO 36 0 X 116688 0 29196 Joni Falk Work Unit Leader 40 0 X 155673 0 12339 Brian Drayton Work Unit Leader 32 0 X 138306 0 26620 Karen Economopoulos Project Director 40 0 X 129402 0 30507 Gillian Puttick Project Director 40 0 X 123999 0 29889 Andee Rubin ERC Director 40 0 X 122153 0 15625 1007506 0 159298 18 0 1 0 0 0 0 0 0 9473095 683007 0 10156102 Workshops 900099 475574 475574 0 0 0 0 0 0 475574 345126 0 0 345126 0 0 0 0 3611239 3611239 0 0 0 0 2901923 0 2630949 0 270974 0 270974 0 0 270974 0 Other 900099 62684 62684 0 0 0 0 0 0 62684 14921699 4149497 0 616100 0 0 0 0 0 0 0 0 382291 0 382291 0 0 0 0 0 7148487 5695202 1445871 7414 353647 269166 84131 350 952704 758850 192868 986 574135 436983 136584 568 0 0 0 0 17542 0 17542 0 39682 0 39682 0 0 0 0 0 0 0 96423 96423 0 0 19734 0 19734 0 0 0 0 0 252992 147740 105252 0 0 0 0 0 0 0 0 0 1515418 1122833 390970 1615 257474 240978 16496 0 0 0 0 0 60911 56246 4665 0 0 0 0 0 0 0 0 0 95962 70142 25742 78 46333 0 46333 0 Consultants 791999 707999 43750 40250 Subawards 1376928 1376928 0 0 Outside services 367615 274655 92960 0 114331 92446 21885 0 14464608 11346591 3066756 51261 93278 42035 10185 87 0 2274973 3258021 0 0 0 0 221689 193531 1798419 1595518 226453 202901 15110193 15196020 0 0 0 35611 35611 17972382 18928206 1533397 1398975 0 91285 157197 0 0 0 0 0 2658 2941 1627340 1559113 X 16345042 17369093 0 0 0 0 16345042 17369093 17972382 18928206 457091 566960 0 0 0 0 X 1 X 1 X 1 1 1 X 11827628 10385434 8804123 9234849 10156102 50408136 0 0 0 0 11827628 10385434 8804123 9234849 10156102 50408136 50408136 3604585 3262031 4006876 3381614 4227339 18482445 691898 643326 806234 831125 538258 3510841 72401422 0.69623 0.70250 X Schedule A, Part II, Line 10 Workshop revenue and other revenue RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 678350 0 601682 76668 1099023 0 976728 122295 21046 0 17108 3938 202901 0 Other Liablities 2941 2941 X 15488659 566960 0 0 0 566960 14921699 0 0 0 14921699 14464608 0 0 0 0 0 14464608 0 0 0 14464608 Schedule D, 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, 2016 and 2015. TERC's information returns are subject to examination by the Federal and state jurisdictions and generally remain open for the most recent three years. X X X X X X 0 0 0 0 0 0 0 0 0 Laurie Brennan President 221285 0 0 0 0 0 0 0 15122 0 236407 0 0 0 Joni Falk Work Unit Leader 155673 0 0 0 0 0 0 0 12339 0 168012 0 0 0 Brian Drayton Work Unit Leader 138306 0 0 0 0 0 0 0 26620 0 164926 0 0 0 Karen Economopoulos Project Director 129402 0 0 0 0 0 0 0 30507 0 159909 0 0 0 Gillian Puttick Project Director 123999 0 0 0 0 0 0 0 29889 0 153888 0 0 0 Form 990, Part VI, Section B, Line 11b Review Process: The CFO completes the majority of the form with input from the Director of HR and the president. The president reviews the completed form. Once approved by the president, the Board Finance Committee (BFC) is sent a draft copy of the form and a meeting or a telephone conference call is scheduled. The CFO presents the 990 to the committee, discussing each section and answering any questions the committee may have. The BFC approves the submission of the 990 to the IRS. Once that approval is obtained the CFO submits the 990 form electronically to the IRS. A final copy of the 990 is sent to the full TERC Board for their information with a note conveying the review process for the 990. Form 990, Part VI, Section B, Line 12c Annually the Conflict of Interest Statement Policy adopted by the Board of Trustees is distributed to each trustee, with a request to submit annually to the Clerk of the corporation a list of all corporate Boards on which the trustee serves and other companies/entities with which the trustee has a business/personal relationship. The Clerk forwards a copy of each trustee submittal to the President, who thereafter distributes a copy of each submittal to the CFO. Each of the President and the CFO, upon becoming aware of a potential conflict of interest, would advise the trustee of same. The Policy directs a trustee to report a potential conflict to the Chairperson of the Board of Trustees, who would then refer the matter to the Governance Committee of the Board. The Governance Committee would consider and resolve the matter by a majority vote of the Committee. The Minutes of the Governance Committee considering any such matter would be reported to the full Board at its next meeting and filed by the Clerk with the corporate records. Form 990, Part VI, Section B, Line 15 - 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. Increases approved are retroactive to the first pay period in February. 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 study from professional compensations consultants. The last commissioned study occurred in 2010. The result of the review of the compensation for the President is recorded by the chair of the subcommittee and forwarded to the DHR for placement in the personnel file of the President. A written notice from the Chair of the Board of Trustees serves as instruction to process the salary increase. - Compensation review for Chief Financial Officer: The compensation for The Chief Financial Officer (CFO) is determined by the President, to whom the CFO reports. As with all positions at TERC, the appropriate range for the position is determined through a compensation study conducted by an independent consultant, using survey data from comparable organizations and matched with the job responsibilities and level of experience required to fulfill the CFO position. The last compensation survey was conducted in 2010. 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 Director of Human Resources. Form 990, Part VI, Section C, Line 19 TERC financial information is available to the public via the following channels: 1) TERC 990 form, Form PC and Audited Financial Statements are available on the official website of Attorney General of Massachusetts. 2) A summary of TERC financial statements is available on Dun & Bradstreet website www.dnb.com 3)Available upon request. TERC documents of incorporation are available for inspection in the Attorney General office. An inspection of these documents at TERC office can be requested. TERC conflict of interest policy is available on TERC's website. Educational Venture Inc 2067 Massachusetts Avenue Cambridge MA 02140 043372257 Educational research and Development MA Technical Education Research Centers Inc C 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0