Math Corps EIN 82-4958844

Math Corps FY2021 filing

EIN  82-4958844 Public charity (501(c)(3)) Detroit, MI Founded 2018
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Teaches math to underserved children, building self-worth and community for brighter futures.
Leadership
Laura Richardson · Chief Advancement Officer · $135K
Money in and out
$854K revenue, $602K expenses
Bottom line
77% program efficiency

Teaches math to underserved children, building self-worth and community for brighter futures. For fiscal year 2021 it reported $854K in revenue, $602K in expenses, and $736K in net assets.Pt I

Where the money goes · FY2021
Total revenue
$854K
Pt VIII · Ln 12
Total expenses
$602K
Pt IX · Ln 25
Net assets
$736K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $253K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.04 Fundraising $0.19
Program efficiency
77%
of spending reaches programs
Operating runway
20.5mo
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 2021 · Form 990
Revenue
$854K
FY2021▲ +21%
Expenses
$602K
FY2021▲ +5%
Total assets
$981K
FY2021▲ +95%
Total liabilities
$245K
FY2021▲ ×12
Total revenue
$854K
Pt VIII · Ln 12
Total expenses
$602K
Pt IX · Ln 25
Net assets
$736K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$253K
Total assetsPt X · Ln 16$981K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $461K of program spending, described in the organization's own filed words · FY2021.
01

Promoted and raised funds for math corps programs which are administered at various universities including wayne state university, oakland university, university of michigan, cleveland state university and drexel university.

$461Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMath Corps
EINHdr · item D82-4958844
Principal addressHdr · item CDetroit, MI
WebsiteHdr · item Jwww.mathcorps.org
Year of formationHdr · item L2018
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B90)
Ruling yearIRS BMFAug 2018

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chief Advancement Officer
$135,025Pt VII · Sec A
CEO and President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Board Chair and Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Lauren Richardson’s $168K as Chief Advancement Officer is at the 73rd percentile of top reported officer pay among 3393 $1–10M education 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Lauren Richardson$167,949
Lauren Richardson$167,949
Laura Richardson$145,000$149,608$135,025$106,750

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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Statement of Revenue

Part VIII
Contributions & grants100%$854K
Investment income$150
— government grantsLn 1e$20K
Total revenueLn 12$854K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.04 Fundraising $0.19
Program services77%$461K
Management & general4%$24K
Fundraising19%$117K
Total functional expensesLn 25$602K

Balance Sheet

Part X · end of year
CashLn 1$968K
Total assetsLn 16$981K
Total liabilitiesLn 26$245K
Total net assetsLn 32$736K
Months of cash on handcomputed19.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $968K · Operating expenses (Pt IX) $602K · Less non-cash grants $35K · Cash operating expenses/yr $567K
20.5 months
Where the money goes
Program services
Program services $461K · Total expenses $602K
77%
Management & General
Management & general $24K · Total expenses $602K
4%
Fundraising
Fundraising $117K · Total expenses $602K
19%
Cost to raise $1
Fundraising expense (2-yr avg) $59K · Solicited contributions (2-yr avg) $771K
$0.08 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $854K · Total revenue $854K
100%
Government reliance
Government grants $20K · Total revenue $854K
2%
Earned-income share
Program service revenue $0 · Total revenue $854K
0%
Investment reliance
Investment income $150 · Total revenue $854K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $602K
0%
Growth & trend
Revenue growth (YoY)
This year $854K · Prior year $709K
+21%
Net-asset trend (YoY)
End of year $736K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $854K · Expenses $602K
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $981K
Net-asset ratio
Net assets $736K · Total assets $981K
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $981K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Laura Richardson · Reported title CHIEF ADVANCEMENT OFFICER · Highest reported compensation $135K · Total expenses $602K
22%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $146K · Total expenses $602K
24%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 77%
Overhead ratio 4%
Fundraising cost ratio 14%
Revenue growth 21%
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 6 funders →
Grants paid · 20 grants · $2.7M · 2020–2024
Wayne State UniversityMI · FY2024$416,700
Oakland UniversityMI · FY2024$96,000
Spelman CollegeGA · FY2024$51,562
Wayne State UniversityMI · FY2023$718,889
Drexel UniversityPA · FY2023$80,000
Cleveland State UniversityFY2023$9,500
Wayne State UniversityMI · FY2022$235,000
Drexel UniversityPA · FY2022$80,000
Cleveland State UniversityFY2022$25,000
Wayne State UniversityMI · FY2021$245,000
Drexel UniversityPA · FY2021$80,000
Cleveland State UniversityFY2021$37,580
Oakland UniversityMI · FY2021$30,000
Wayne State UniversityMI · FY2020$250,000
See all 20 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)$1.1M revenue · ⤓ 990 PDF
FY2023$1.2M revenue · ⤓ 990 PDF
FY2022$935K revenue · ⤓ 990 PDF
FY2021$854K revenue · viewing · ⤓ 990 PDF
FY2020$709K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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