Civic Intelligence

Promys Foundation

990 • Fiscal year 2016 • EIN 45-2917981

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 06, 2017

PO Box 15502Boston, MA 02215

(617) 353-2563

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

7th percentile

-55%

Higher net margin than 7% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

24th percentile

-15%

Faster asset growth than 24% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

15th percentile

-34%

Faster revenue growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Down

$367,928

Down $64,543 (-15%) from 2015

Net Assets

Down

$367,928

Down $64,543 (-15%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue

Down

$130,783

Down $68,875 (-34%) from 2015

Expenses

Up

$202,644

Up $56,249 (+38%) from 2015

Net Income

Down

-$71,861

Down $125,124 (-235%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2013: $174,038Liabilities 2013: $02013Assets 2014: $381,338Liabilities 2014: $0Net Assets 2014: $381,3382014Assets 2015: $432,471Liabilities 2015: $0Net Assets 2015: $432,4712015Assets 2016: $367,928Liabilities 2016: $0Net Assets 2016: $367,9282016Assets 2017: $455,657Liabilities 2017: $0Net Assets 2017: $455,6572017Assets 2018: $487,163Liabilities 2018: $0Net Assets 2018: $487,1632018Assets 2019: $603,587Liabilities 2019: $0Net Assets 2019: $603,5872019Assets 2020: $755,442Liabilities 2020: $11,407Net Assets 2020: $744,0352020Assets 2021: $1,024,658Liabilities 2021: $7,062Net Assets 2021: $1,017,5962021Assets 2022: $1,448,389Liabilities 2022: $6,130Net Assets 2022: $1,442,2592022Assets 2023: $1,946,644Liabilities 2023: $0Net Assets 2023: $1,946,6442023Assets 2024: $1,548,919Liabilities 2024: $10,192Net Assets 2024: $1,538,7272024

Highlighted filing

2016

Assets$367,928
Liabilities$0
Net Assets$367,928

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2013: $162,506Expenses 2013: $13,176Net Income 2013: $149,3302013Revenue 2014: $243,237Expenses 2014: $35,937Net Income 2014: $207,3002014Revenue 2015: $199,658Expenses 2015: $146,395Net Income 2015: $53,2632015Revenue 2016: $130,783Expenses 2016: $202,644Net Income 2016: -$71,8612016Revenue 2017: $319,556Expenses 2017: $250,108Net Income 2017: $69,4482017Revenue 2018: $423,852Expenses 2018: $381,327Net Income 2018: $42,5252018Revenue 2019: $435,420Expenses 2019: $348,978Net Income 2019: $86,4422019Revenue 2020: $403,554Expenses 2020: $282,323Net Income 2020: $121,2312020Revenue 2021: $438,814Expenses 2021: $158,756Net Income 2021: $280,0582021Revenue 2022: $867,128Expenses 2022: $404,975Net Income 2022: $462,1532022Revenue 2023: $977,797Expenses 2023: $493,575Net Income 2023: $484,2222023Revenue 2024: $540,886Expenses 2024: $948,804Net Income 2024: -$407,9182024

Highlighted filing

2016

Revenue$130,783
Expenses$202,644
Net Income-$71,861
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 6, 2017
Return Version
2016v3.0
Gross Receipts
$130,783
Mission and Program Overview

Mission

All activities of the promys foundation are designed to serve a single purpose: to support the non-profit program in mathematics for young scientists (promys) whose mission is finding and nurturing talent in mathematics. The promys program is a program of boston university, an organization described in section 501(c)(3) and section 170(b)(i)(a)(ii). The activities of the promys foundation will center on fundraising with the primary goal being to provide funds to promys to fund student scholarships.

Promys foundation exists to support promys (program in mathematics for young scientists). All activities of the promys foundation are designed to serve a single purpose: to support the non-profit program in mathematics for young scientists (promys) whose mission is finding and nurturing talent in mathematics. The promys program is a program of boston university, an organization described in section 501(c)(3) and section 170(b)(i)(a)(ii). The activities of the promys foundation will center on fundraising with the primary goal being to provide funds to promys to fund student scholarships.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$298,832$223,774▼ $75,058
Investments Other Securities$133,639$144,154▲ $10,515
Total Assets$432,471$367,928▼ $64,543
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$298,832$223,774▼ $75,058
Temporarily Rstr Net Assets$133,639$144,154▲ $10,515
Total Net Assets Fund Balance$432,471$367,928▼ $64,543
Total Liabilities and Net Assets / Fund Balance$432,471$367,928▼ $64,543

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$144,154--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$133,639-▲ $10,515-$144,154
2015$98,164$36,836▼ $1,361-$133,639
2014-$98,164--$98,164
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joshua GreenePresident and Trustee
Cameron FreerSecretary and Trustee
Glenn StevensTreasurer and Trustee
Amanda Beeson TuckerTrustee
Henry CohnTrustee
Ila VarmaTrustee
Jonathan HankeTrustee
Li-mei LimTrustee
Marjory BaruchTrustee
Michael KingTrustee
Paul ShermanTrustee
Wan-yin WuTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$127,136
Program Service Revenue
$450
Investment Income
$3,197
Other Revenue
$0
All Other Contributions
$127,136
Change in Net Assets
$-71,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$190,373
Other Expenses$12,271
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$190,373--$190,373
Fees for Services Management$5,250--$5,250
Conferences and Meetings$4,308--$4,308
Fees for Services Accounting-$2,000-$2,000
Fees for Services Other$713--$713
Total Functional Expenses$200,644$2,000$0$202,644
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Boston University (promys Designation)Boston, MA501c3Support for Promys for 6 Mehta Fellowships and Other Costs$64,395
Boston University (promys Designation)Boston, MA501c3Support for Promys for Counselor-related Costs$55,378
Boston University (promys Designation)Boston, MA501c3Support for Promys for Teachers for Teacher Education$51,100
Boston University (promys Designation)Boston, MA501c3Support for Promys for 1 Full Trustee Scholarship and General Operating Costs$13,000
Boston University (promys Designation)Boston, MA501c3For 1 Student Participation in Promys-breakout Fellowshipsupport for Promys for 1 Breakout Fellowship Scholarhip and Airfare$6,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Board of trustees review and approve the form 990 before submission.

Form 990, Part VI, Section B, Line 12C

Disclosure statements are required to submitted annually by each trustee. The board of trustees appoints a trustee to review these submissions and provide a report to the board.

Form 990, Part VI, Section C, Line 19

The foundation makes its form 1023, form 990 and its organizational documents available for public inspection upon request and via the massachusetts public charity website.

Filing and Contact Details

Filer

Filer Name
Promys Foundation
EIN
45-2917981
Phone
6173532563
Address
PO BOX 15502, BOSTON, MA 02215

Signing Officer

Name
Glenn Stevens
Title
Treasurer
Phone
6173532563
Signed
2017-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Glenn Stevens
Formed
2011
Legal Domicile
Ma
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Gosule Butkus & Jesson Llp
Address
480 ADAMS STREET, MILTON, MA 02186
Preparer
James L Oslin CPA
Phone
6176983950
Supplemental Narrative

Additional Explanations

Schedule O Additional Information

Breakout fellowships term endowment (temporarily restricted contributions) - terence tao, richard taylor, and jacob lurie, recipients of the inaugural breakthrough prizes in mathematics, very generously created the breakout fellowship to promys. The breakout fellowship is a full scholarship to promys for a mathematically talented student who might not otherwise be able to attend. With the goal of creating a fully funded breakout fellowship to promys endowment, the promys alum community was invited in december 2014 to match the very generous donation of the breakthrough mathematicians. Thanks to the generosity and vision of all the donors, this endowment goal was reached in march 2015. The future of the breakout fellowships to promys is now assured: there will be a breakout fellow in every promys cohort from this year on. The promys foundation is delighted to announce that the 3rd breakout fellowship to promys was awarded to haneul shin of river edge, new jersey, in may 2017. The tara and jasubhai mehta fellowships to promys are for mathematically talented low-income students in india and are funded by nicholas nash, the indira foundation and morph.org, the mehta fellowship sponsors. Each mehta fellowship covers all tuition and room and board costs for attending the six weeks of promys at boston university. The fellowships also cover round-trip airfare from india and the cost of any required books. Promys is excited to announce the awarding in 2017 of eight tara and jasubhai mehta fellowships to promys for mathematically talented low-income students in india. There are three first-year mehta fellows and there are five returning mehta fellows: arya vadnere, adit vishnu pathirissery manoj, kushagr mohan ahuja, soumen ghosh (who will be a junior counselor), and sabir shaik (who will be a counselor). Sabir has just completed his second year at the chennai mathematical institute. The three new first-year mehta fellows to promys in 2017 are devansh sehta from indore in madhya pradesh, aman agrawal who is also from indore in madhya pradesh, and siddharth sridhar from chennai in tamil nadu. The fellows were selected from the very strong applicant pool and were interviewed by alumni dr. Abhinav kumar (stony brook university) and dr. Ila varma (columbia university). The participation of these eight students, all exceptionally talented in mathematics, is thanks to the generosity of the mehta fellowship sponsors. The trustee scholarships are full scholarships to promys awarded by the promys foundation thanks to the generosity of the promys alum community. Promys for teachers (pft) is a six-week summer immersion in mathematical problem solving for mathematics teachers in massachusetts and beyond. Most participants are experienced secondary school math teachers; some are pre-service teachers. Founded in 1991 by professor glenn stevens, pft has grown from 4 teachers to as many as 50 teachers in recent summers. Pft is working to promote a "culture of exploration." teachers attend lectures and work collaboratively on challenging problem sets along with the support of counselors who are graduate students in mathematics or pft alumni with years of experience. Like the classroom activities pft encourages, the problem sets are low threshold high ceiling, so there is enlightenment and challenge for teachers from a wide range of math backgrounds. Returning teachers take on advanced seminars, projects, and research.

Financial Statement Notes

PART V, LINE 4:

The breakout fellowships term endowment fund will be used to provide full scholarship to promys for a mathematically talented student who might not otherwise be able to attend.

Part IV Line 11F Uncertain Tax Positions

The foundation is exempt from federal and state income taxes under internal revenue code 501(c)(3), except to the extent that it has taxable income from businesses that are not related to its exempt purpose. Unrelated business income that greater than $1,000 would be taxed at the applicable corporate tax rate. The foundation did not have any unrelated business income during the year ended december 31, 2016, accordingly, no provision for income taxes has been made in the financial statements. The foundation is not currently under examination by any taxing jurisdiction. Federal and taxing authorities no longer have the right to examine tax years prior to 2013. For the year ended december 31, 2016, there were no interest or penalties associated with tax positions recorded in the accompanying financial statements.

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IRS990/ActivityOrMissionDesc0PROMYS FOUNDATION EXISTS TO SUPPORT PROMYS (PROGRAM IN MATHEMATICS FOR YOUNG SCIENTISTS). ALL ACTIVITIES OF THE PROMYS FOUNDATION ARE DESIGNED TO SERVE A SINGLE PURPOSE: TO SUPPORT THE NON-PROFIT PROGRAM IN MATHEMATICS FOR YOUNG SCIENTISTS (PROMYS) WHOSE MISSION IS FINDING AND NURTURING TALENT IN MATHEMATICS. THE PROMYS PROGRAM IS A PROGRAM OF BOSTON UNIVERSITY, AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND SECTION 170(B)(I)(A)(II). THE ACTIVITIES OF THE PROMYS FOUNDATION WILL CENTER ON FUNDRAISING WITH THE PRIMARY GOAL BEING TO PROVIDE FUNDS TO PROMYS TO FUND STUDENT SCHOLARSHIPS.
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IRS990/MissionDesc0ALL ACTIVITIES OF THE PROMYS FOUNDATION ARE DESIGNED TO SERVE A SINGLE PURPOSE: TO SUPPORT THE NON-PROFIT PROGRAM IN MATHEMATICS FOR YOUNG SCIENTISTS (PROMYS) WHOSE MISSION IS FINDING AND NURTURING TALENT IN MATHEMATICS. THE PROMYS PROGRAM IS A PROGRAM OF BOSTON UNIVERSITY, AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND SECTION 170(B)(I)(A)(II). THE ACTIVITIES OF THE PROMYS FOUNDATION WILL CENTER ON FUNDRAISING WITH THE PRIMARY GOAL BEING TO PROVIDE FUNDS TO PROMYS TO FUND STUDENT SCHOLARSHIPS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt0367928
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IRS990/NetUnrlzdGainsLossesInvstAmt07318
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0GLENN STEVENS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611110
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM T SHIRT SALE P
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IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYInvestmentIncomeAmt0769
IRS990/PYOtherExpensesAmt08322
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0565
IRS990/PYRevenuesLessExpensesAmt053263
IRS990/PYSalariesCompEmpBnftPaidAmt00
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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0199658
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-71861
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt03647
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt014700
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt021020
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt013100
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt059920
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt06450
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0115190
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0127136
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt098234
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt076522
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt086506
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt018619
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0407017
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0769
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0450
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0565
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0715
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01730
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03196
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0769
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03965
IRS990ScheduleA/InvestmentIncomeCYPct00.00960
IRS990ScheduleA/InvestmentIncomePYPct00.00260
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IRS990ScheduleA/PublicSupportPY509Pct00.49380
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt089950
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt046520
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt029600
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt059920
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt06450
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0232440
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt075250
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt025500
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt016500
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt0117250
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0127586
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt098799
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt077237
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt086506
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt018619
IRS990ScheduleA/Total509Grp/TotalAmt0408747
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0130782
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt099568
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt077237
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt086506
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt018619
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0412712
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0133639
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0144154
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt010515
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt098164
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt036836
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0133639
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-1361
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt098164
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt098164
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0144154
IRS990ScheduleD/OtherSecuritiesGrp/Desc0VANGUARD - BREAKOUT FELLOWSHIPS TERM ENDOWMENT FUND
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE BREAKOUT FELLOWSHIPS TERM ENDOWMENT FUND WILL BE USED TO PROVIDE FULL SCHOLARSHIP TO PROMYS FOR A MATHEMATICALLY TALENTED STUDENT WHO MIGHT NOT OTHERWISE BE ABLE TO ATTEND.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE 501(C)(3), EXCEPT TO THE EXTENT THAT IT HAS TAXABLE INCOME FROM BUSINESSES THAT ARE NOT RELATED TO ITS EXEMPT PURPOSE. UNRELATED BUSINESS INCOME THAT GREATER THAN $1,000 WOULD BE TAXED AT THE APPLICABLE CORPORATE TAX RATE. THE FOUNDATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME DURING THE YEAR ENDED DECEMBER 31, 2016, ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. FEDERAL AND TAXING AUTHORITIES NO LONGER HAVE THE RIGHT TO EXAMINE TAX YEARS PRIOR TO 2013. FOR THE YEAR ENDED DECEMBER 31, 2016, THERE WERE NO INTEREST OR PENALTIES ASSOCIATED WITH TAX POSITIONS RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART IV LINE 11F UNCERTAIN TAX POSITIONS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0144154
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt051100
IRS990ScheduleI/RecipientTable/CashGrantAmt113000
IRS990ScheduleI/RecipientTable/CashGrantAmt26500
IRS990ScheduleI/RecipientTable/CashGrantAmt364395
IRS990ScheduleI/RecipientTable/CashGrantAmt455378
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501C3
IRS990ScheduleI/RecipientTable/IRCSectionDesc4501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SUPPORT FOR PROMYS FOR TEACHERS FOR TEACHER EDUCATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SUPPORT FOR PROMYS FOR 1 FULL TRUSTEE SCHOLARSHIP AND GENERAL OPERATING COSTS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2FOR 1 STUDENT PARTICIPATION IN PROMYS-BREAKOUT FELLOWSHIPSUPPORT FOR PROMYS FOR 1 BREAKOUT FELLOWSHIP SCHOLARHIP AND AIRFARE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SUPPORT FOR PROMYS FOR 6 MEHTA FELLOWSHIPS AND OTHER COSTS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SUPPORT FOR PROMYS FOR COUNSELOR-RELATED COSTS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BOSTON UNIVERSITY (PROMYS DESIGNATION)
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1BOSTON UNIVERSITY (PROMYS DESIGNATION)
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2BOSTON UNIVERSITY (PROMYS DESIGNATION)
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3BOSTON UNIVERSITY (PROMYS DESIGNATION)
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4BOSTON UNIVERSITY (PROMYS DESIGNATION)
IRS990ScheduleI/RecipientTable/RecipientEIN0042103547
IRS990ScheduleI/RecipientTable/RecipientEIN1042103547
IRS990ScheduleI/RecipientTable/RecipientEIN2042103547
IRS990ScheduleI/RecipientTable/RecipientEIN3042103547
IRS990ScheduleI/RecipientTable/RecipientEIN4042103547
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0111 CUMMINGTON MALL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1111 CUMMINGTON MALL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2111 CUMMINGTON MALL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3111 CUMMINGTON MALL
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4111 CUMMINGTON MALL
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm1BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm2BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm3BOSTON
IRS990ScheduleI/RecipientTable/USAddress/CityNm4BOSTON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3MA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4MA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd002215
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd102215
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd202215
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd302215
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd402215
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE GRANTEE IS REQUIRED TO SUBMIT A WRITTEN REPORT OF GRANT EXPENDITURES
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF TRUSTEES REVIEW AND APPROVE THE FORM 990 BEFORE SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DISCLOSURE STATEMENTS ARE REQUIRED TO SUBMITTED ANNUALLY BY EACH TRUSTEE. THE BOARD OF TRUSTEES APPOINTS A TRUSTEE TO REVIEW THESE SUBMISSIONS AND PROVIDE A REPORT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION MAKES ITS FORM 1023, FORM 990 AND ITS ORGANIZATIONAL DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AND VIA THE MASSACHUSETTS PUBLIC CHARITY WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BREAKOUT FELLOWSHIPS TERM ENDOWMENT (TEMPORARILY RESTRICTED CONTRIBUTIONS) - TERENCE TAO, RICHARD TAYLOR, AND JACOB LURIE, RECIPIENTS OF THE INAUGURAL BREAKTHROUGH PRIZES IN MATHEMATICS, VERY GENEROUSLY CREATED THE BREAKOUT FELLOWSHIP TO PROMYS. THE BREAKOUT FELLOWSHIP IS A FULL SCHOLARSHIP TO PROMYS FOR A MATHEMATICALLY TALENTED STUDENT WHO MIGHT NOT OTHERWISE BE ABLE TO ATTEND. WITH THE GOAL OF CREATING A FULLY FUNDED BREAKOUT FELLOWSHIP TO PROMYS ENDOWMENT, THE PROMYS ALUM COMMUNITY WAS INVITED IN DECEMBER 2014 TO MATCH THE VERY GENEROUS DONATION OF THE BREAKTHROUGH MATHEMATICIANS. THANKS TO THE GENEROSITY AND VISION OF ALL THE DONORS, THIS ENDOWMENT GOAL WAS REACHED IN MARCH 2015. THE FUTURE OF THE BREAKOUT FELLOWSHIPS TO PROMYS IS NOW ASSURED: THERE WILL BE A BREAKOUT FELLOW IN EVERY PROMYS COHORT FROM THIS YEAR ON. THE PROMYS FOUNDATION IS DELIGHTED TO ANNOUNCE THAT THE 3RD BREAKOUT FELLOWSHIP TO PROMYS WAS AWARDED TO HANEUL SHIN OF RIVER EDGE, NEW JERSEY, IN MAY 2017. THE TARA AND JASUBHAI MEHTA FELLOWSHIPS TO PROMYS ARE FOR MATHEMATICALLY TALENTED LOW-INCOME STUDENTS IN INDIA AND ARE FUNDED BY NICHOLAS NASH, THE INDIRA FOUNDATION AND MORPH.ORG, THE MEHTA FELLOWSHIP SPONSORS. EACH MEHTA FELLOWSHIP COVERS ALL TUITION AND ROOM AND BOARD COSTS FOR ATTENDING THE SIX WEEKS OF PROMYS AT BOSTON UNIVERSITY. THE FELLOWSHIPS ALSO COVER ROUND-TRIP AIRFARE FROM INDIA AND THE COST OF ANY REQUIRED BOOKS. PROMYS IS EXCITED TO ANNOUNCE THE AWARDING IN 2017 OF EIGHT TARA AND JASUBHAI MEHTA FELLOWSHIPS TO PROMYS FOR MATHEMATICALLY TALENTED LOW-INCOME STUDENTS IN INDIA. THERE ARE THREE FIRST-YEAR MEHTA FELLOWS AND THERE ARE FIVE RETURNING MEHTA FELLOWS: ARYA VADNERE, ADIT VISHNU PATHIRISSERY MANOJ, KUSHAGR MOHAN AHUJA, SOUMEN GHOSH (WHO WILL BE A JUNIOR COUNSELOR), AND SABIR SHAIK (WHO WILL BE A COUNSELOR). SABIR HAS JUST COMPLETED HIS SECOND YEAR AT THE CHENNAI MATHEMATICAL INSTITUTE. THE THREE NEW FIRST-YEAR MEHTA FELLOWS TO PROMYS IN 2017 ARE DEVANSH SEHTA FROM INDORE IN MADHYA PRADESH, AMAN AGRAWAL WHO IS ALSO FROM INDORE IN MADHYA PRADESH, AND SIDDHARTH SRIDHAR FROM CHENNAI IN TAMIL NADU. THE FELLOWS WERE SELECTED FROM THE VERY STRONG APPLICANT POOL AND WERE INTERVIEWED BY ALUMNI DR. ABHINAV KUMAR (STONY BROOK UNIVERSITY) AND DR. ILA VARMA (COLUMBIA UNIVERSITY). THE PARTICIPATION OF THESE EIGHT STUDENTS, ALL EXCEPTIONALLY TALENTED IN MATHEMATICS, IS THANKS TO THE GENEROSITY OF THE MEHTA FELLOWSHIP SPONSORS. THE TRUSTEE SCHOLARSHIPS ARE FULL SCHOLARSHIPS TO PROMYS AWARDED BY THE PROMYS FOUNDATION THANKS TO THE GENEROSITY OF THE PROMYS ALUM COMMUNITY. PROMYS FOR TEACHERS (PFT) IS A SIX-WEEK SUMMER IMMERSION IN MATHEMATICAL PROBLEM SOLVING FOR MATHEMATICS TEACHERS IN MASSACHUSETTS AND BEYOND. MOST PARTICIPANTS ARE EXPERIENCED SECONDARY SCHOOL MATH TEACHERS; SOME ARE PRE-SERVICE TEACHERS. FOUNDED IN 1991 BY PROFESSOR GLENN STEVENS, PFT HAS GROWN FROM 4 TEACHERS TO AS MANY AS 50 TEACHERS IN RECENT SUMMERS. PFT IS WORKING TO PROMOTE A "CULTURE OF EXPLORATION." TEACHERS ATTEND LECTURES AND WORK COLLABORATIVELY ON CHALLENGING PROBLEM SETS ALONG WITH THE SUPPORT OF COUNSELORS WHO ARE GRADUATE STUDENTS IN MATHEMATICS OR PFT ALUMNI WITH YEARS OF EXPERIENCE. LIKE THE CLASSROOM ACTIVITIES PFT ENCOURAGES, THE PROBLEM SETS ARE LOW THRESHOLD HIGH CEILING, SO THERE IS ENLIGHTENMENT AND CHALLENGE FOR TEACHERS FROM A WIDE RANGE OF MATH BACKGROUNDS. RETURNING TEACHERS TAKE ON ADVANCED SEMINARS, PROJECTS, AND RESEARCH.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE O ADDITIONAL INFORMATION
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/StatesWhereCopyOfReturnIsFldCd1NY
IRS990/StatesWhereCopyOfReturnIsFldCd2CA
IRS990/StatesWhereCopyOfReturnIsFldCd3IL
IRS990/StatesWhereCopyOfReturnIsFldCd4NJ
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0133639
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0144154
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0432471
IRS990/TotalAssetsEOYAmt0367928
IRS990/TotalAssetsGrp/BOYAmt0432471
IRS990/TotalAssetsGrp/EOYAmt0367928
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0127136
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.55$0.01$1.54$0.54$0.95$0.41
2023Summary only. Only limited summary data is available for this year.$1.95$0.00$1.95$0.98$0.49$0.48
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.01$1.44$0.87$0.40$0.46
2021Summary only. Only limited summary data is available for this year.$1.02$0.01$1.02$0.44$0.16$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.01$0.74$0.40$0.28$0.12
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.60$0.00$0.60$0.44$0.35$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.49$0.00$0.49$0.42$0.38$0.04
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.00$0.46$0.32$0.25$0.07
2016Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.37$0.13$0.20$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.43$0.20$0.15$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.38$0.00$0.38$0.24$0.04$0.21
2013Summary only. Only limited summary data is available for this year.$0.17$0.00$0.16$0.01$0.15