Pro Mathematica Arte FY2022 filing

Tax-deductible

Northfield, MN501(c)(3)InternationalEIN 41-1912690Revenue $1.6M in FY2022

On file with the IRSbudapestsemesters.comPo Box 347, 55057-0347 · Northfield, MNTax-exempt since Feb 1999Publicly supported — 509(a)(2)

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Pro Mathematica Arte runs the budapest semesters in mathematics program (bsm)and the budapest semesters in mathematics education program (bsme). The specific purpose of bsm and bsme is to promote the study of mathematical sciences (including computer science) and mathematics education through the beneficial effect of the international and educational exchange and cooperation on such study. To serve this mission bsm and bsme closely cooperate with the hungarian mathematics and mathematics education communities relying on and supporting the deep rooted traditions of excellence in mathematics education and research in hungary.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$40K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $23K a year · 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$40K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$499K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+300% vs prior year
Spent
$1.3M
To programs
77%
Net assets
$3.9M
By yearFY2020–FY2025
Revenue
$1.6M
FY2022▲ +300%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$389K
FY2022$1.6M
FY2023$1.5M
FY2024$2.0M
FY2025$2.0M
Expenses
$1.3M
FY2022▲ +56%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.8M
FY2021$827K
FY2022$1.3M
FY2023$1.5M
FY2024$2.1M
FY2025$2.0M
Net assets
$3.9M
FY2022▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.1M
FY2021$4.3M
FY2022$3.9M
FY2023$4.0M
FY2024$4.6M
FY2025$5.1M

From the FY2022 Form 990 (year ending August 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1999.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $998K Management & general 23% · $290K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $40K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$17,391Pt VII · Sec A
$11,670Pt VII · Sec A
Secretary
$11,255Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Assistant Tr
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Deanna Haunsperger’s $16K as Treasurer is at the 1st percentile of top reported officer pay among 1168 $1–10M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Tara Holm—$25,300$20,464$17,391$16,884$21,392
Deanna Haunsperger$16,500$16,500$13,890$11,670$11,330$11,000
Bela Bajnok$13,200$13,200$11,751$11,255$10,927$10,609
Kiran Kedlaya$5,600$5,600$3,333———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes math and math education study through international exchange and cooperation.

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Provided by the organization

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1 program · $998K · in their own filed words · FY2021
01

The BSM program consisted of three semesters of study in mathematics, theoretical computer science or mathematics education in budapest, hungary. Students attended fall, spring and summer terms. We served 41 students in fall 2021, 41 students in spring 2022 and 37 students in summer 2022.

$998Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 2 grants · $65K · 2019–2021
Girls Angle INCMA · FY2021$15,000
Mathematical Assoc of AmericaFY2019$50,000

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$229K
Money outPt IX
$1.3M
Ln 25
Programscol B$998K
Managementcol C$290K
Owns and owesPt X
$3.9M
net assets · Ln 32
Cash and savingsLn 1–2$940K
Total assetsLn 16$4.4M
LiabilitiesLn 26$499K
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$229K
Gains on assetsLn 7$165K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$434K
SavingsLn 2$506K
Cash and savings togetherLn 1–2$940K
InvestmentsLn 11–13$3.5M
Land, buildings, equipmentLn 10c$4K
Total assetsLn 16$4.4M
LiabilitiesLn 26$499K
Net assetsLn 32$3.9M
OperationsPt I, VI
EmployeesI 57
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$761K$940K
InvestmentsLn 11–13$4.1M$3.5M
Land, buildings, equipmentLn 10c$2K$4K
Total assetsLn 16$4.9M$4.4M
LiabilitiesLn 26$571K$499K
Net assetsLn 32$4.3M$3.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$15K$15K
Grants and assistance to foreign recipientsLn 3$100K$100K
Pay of current officers, directors and key staffLn 5$40K$40K
Other salaries and wagesLn 7$35K$35K
Payroll taxesLn 10$1K$1K
Management feesLn 11a$104K$104K
Legal feesLn 11b$295$295
Accounting feesLn 11c$18K$18K
Investment management feesLn 11f$5K$5K
Other fees for servicesLn 11g$41K$2K$39K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$5K$2K$3K
Information technologyLn 14$3K$3K
TravelLn 17$14K$3K$11K
Conferences, conventions and meetingsLn 19$5K$5K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$885K$875K$10K
All other expensesLn 24e−$37−$371$334
Total functional expensesLn 25$1.3M$998K$290K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.0M$2.0M$42K$5.1M 990 PDF
FY2024 $2.0M$2.1M−$92K$4.6M 990 PDF
FY2023 $1.5M$1.5M−$51K$4.0M 990 PDF
FY2022 Viewing $1.6M$1.3M$269K$3.9M 990 PDF
FY2021 $389K$827K−$438K$4.3M 990 PDF
FY2020 $1.9M$1.8M$135K$4.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $1,556,937 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $42,909$1,327,792
I-10 Investment incomePrior year $346,325$229,145
I-11 Other revenue$0
I-12 Total revenuePrior year $389,234$1,556,937
I-13 Grants and similar amounts paidPrior year $140,000$115,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $56,558$76,893
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $630,635$1,096,433
I-18 Total expensesPrior year $827,193$1,288,326
I-19 Revenue less expensesPrior year −$437,959$268,611
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,556,937 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,327,792$1,327,792
VIII-3 Investment incomeExcluded from tax $64,284$64,284
VIII-7 Net gain or loss on sales of assetsRelated to mission $67,926 · Excluded from tax $96,935$164,861
VIII-12 Total revenueRelated to mission $1,395,718 · Excluded from tax $161,219$1,556,937
Part IX · Statement of functional expenses $1,288,326 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $15,000$15,000
IX-3 Grants and assistance to foreign recipientsPrograms $100,000$100,000
IX-5 Pay of current officers, directors and key staffManagement $40,316$40,316
IX-7 Other salaries and wagesManagement $35,253$35,253
IX-10 Payroll taxesManagement $1,324$1,324
IX-11a Management feesManagement $104,202$104,202
IX-11b Legal feesPrograms $295$295
IX-11c Accounting feesManagement $18,000$18,000
IX-11f Investment management feesManagement $4,557$4,557
IX-11g Other fees for servicesPrograms $1,632 · Management $38,880$40,512
IX-12 Advertising and promotionManagement $6,285$6,285
IX-13 Office expensesPrograms $1,956 · Management $3,463$5,419
IX-14 Information technologyManagement $3,499$3,499
IX-17 TravelPrograms $2,534 · Management $11,318$13,852
IX-19 Conferences, conventions and meetingsManagement $5,451$5,451
IX-22 Depreciation, depletion and amortizationPrograms $1,646$1,646
IX-23 InsuranceManagement $7,623$7,623
IX-24 Other expenses (24a–d)Programs $875,307 · Management $9,822$885,129
IX-24e All other expensesPrograms −$371 · Management $334−$37
IX-25 Total functional expensesPrograms $997,999 · Management $290,327 · Fundraising $0$1,288,326
Part X · Balance sheet $4,415,084 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $211,513$434,177
X-2 Savings and temporary cash investmentsStart of year $549,972$505,768
X-4 Accounts receivableStart of year $53,203$943
X-9 Prepaid expenses and deferred charges$577
X-10c Land, buildings and equipment, netStart of year $2,221$3,893
X-11 Publicly traded securitiesStart of year $4,095,107$3,469,726
X-16 Total assetsStart of year $4,912,016$4,415,084
X-17 Accounts payable and accrued expensesStart of year $24,799$8,052
X-19 Deferred revenueStart of year $546,401$490,495
X-26 Total liabilitiesStart of year $571,200$498,547
X-27 Net assets without donor restrictionsStart of year $4,340,816$3,916,537
X-32 Total net assets or fund balancesStart of year $4,340,816$3,916,537
X-33 Total liabilities and net assetsStart of year $4,912,016$4,415,084
Part XI · Reconciliation of net assets $3,916,537 net assets at year end
XI-1 Total revenue$1,556,937
XI-2 Total expenses$1,288,326
XI-3 Revenue less expenses$268,611
XI-4 Net assets at start of year$4,340,816
XI-9 Other changes in net assets−$692,890
XI-10 Net assets at end of year$3,916,537

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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