Promys Foundation EIN 45-2917981 Form 990 (PDF) Claim this org

Promys Foundation FY2020 filing

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Fundraises to support talented young scientists in mathematics programs. For fiscal year 2020 it reported $404K in revenue, $282K in expenses, and $744K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Boston, MA
Website
promysfoundation.org
Filings
5 on file (2020–2020)
Revenue
$404KFY2020
Expenses
$282K
Net assets
$744K
People
12
Filings
5
Updates
0
More identity details & actions ⌄
EIN  45-2917981 Public charity (501(c)(3)) Boston, MA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Fundraises to support talented young scientists in mathematics programs.
Leadership
Joshua Greene · Ttee,pres(2020/01-2020/09)secy.(2021/09-Pr.)
Money in and out
$404K revenue, $282K expenses
Bottom line
94% program efficiency
Where the money goes · FY2020
Total revenue
$404K
Pt VIII · Ln 12
Total expenses
$282K
Pt IX · Ln 25
Net assets
$744K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $121K
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06
Program efficiency
94%
of spending reaches programs
Operating runway
32.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+30%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$404K
FY2020
Expenses
$282K
FY2020
Total assets
$755K
FY2020
Total liabilities
$11K
FY2020
Total revenue
$404K
Pt VIII · Ln 12
Total expenses
$282K
Pt IX · Ln 25
Net assets
$744K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$121K
Total assetsPt X · Ln 16$755K
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $265K of program spending, described in the organization's own filed words · FY2020.
01

The promys foundation was delighted to fund $265,113 in mission-related expenses in 2020. $151,867 supported need-based financial aid for students including the breakout fellow, mehta fellows, yongren fellow, and american mathematical society scholar and the planned launch of promys india; $88,246 supported teacher tuition and counselor…

$265Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPromys Foundation
EINHdr · item D45-2917981
Principal addressHdr · item CBoston, MA
WebsiteHdr · item Jpromysfoundation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B80)
Ruling yearIRS BMFSep 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Ttee,pres(2020/01-2020/09)secy.(2021/09-Pr.)
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
Ttee,pres(2020/09-2021/09)
$0Pt VII · Sec A
Ttee,secy.(2020/01-2021/09)pres(2021/09-Pr.)
$0Pt VII · Sec A
Ttee,treas.(2020/09-2021/09)
$0Pt VII · Sec A
Treas.(2021/09-Present)
$0Pt VII · Sec A
See Promys Foundation executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$398K · 99%
Investment income$6K · 1%
Contributions & grants99%$398K
Investment income1%$6K
Program service revenue$180
Total revenueLn 12$404K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06
Program services94%$265K
Management & general6%$17K
Total functional expensesLn 25$282K

Balance Sheet

Part X · end of year
CashLn 1$571K
Total assetsLn 16$755K
Total liabilitiesLn 26$11K
Total net assetsLn 32$744K
Months of cash on handcomputed24.3

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $755K · Operating expenses/yr $282K
32.1 months
Where the money goes
Program services
Program services $265K · Total expenses $282K
94%
Management & General
Management & general $17K · Total expenses $282K
6%
Fundraising
Fundraising $0 · Total expenses $282K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $398K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $398K · Total revenue $404K
99%
Government reliance
Government grants — · Total revenue $404K
Earned-income share
Program service revenue $180 · Total revenue $404K
0.04%
Investment reliance
Investment income $6K · Total revenue $404K
+1%
Program self-sufficiency
Program service revenue $180 · Total expenses $282K
0.06%
Growth & trend
Revenue growth (YoY)
This year $404K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $744K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $404K · Expenses $282K
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $755K
Net-asset ratio
Net assets $744K · Total assets $755K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $185K · Total assets (Pt X, ln 16) $755K
24%
People & payroll
Highest Reported Total Compensation
Individual Joshua Greene · Reported title TTEE,PRES(2020/01-2020/09)SECY.(2021/09-PR.) · Highest reported compensation $0 · Total expenses $282K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $282K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Fundraising cost ratio 0%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 4 funders →
Grants paid · 30 grants · $1.9M · 2020–2024
Trustees of Boston UniversityMA · FY2024$380,000
Promys INCMA · FY2024$276,141
Trustees of Boston UniversityMA · FY2024$128,805
Trustees of Boston UniversityMA · FY2024$120,000
Trustees of Boston UniversityMA · FY2023$214,223
See all 30 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$541K revenue · ⤓ 990 PDF
FY2023$978K revenue · ⤓ 990 PDF
FY2022$867K revenue · ⤓ 990 PDF
FY2021$439K revenue · ⤓ 990 PDF
FY2020$404K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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