The Algebra Project Inc
- Assets
- $975.2k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Cambridge, MA
- Founding
- 01/1992
- Data as of
- 09/2022
- EIN
- 22-3137788
Organization Overview
The Algebra Project Inc is located in Cambridge, MA. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 09/2022, Algebra Project Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Algebra Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Algebra Project Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVE MATHEMATICS LITERACY
Describe the Organization's Program Activity:
THE ALGEBRA PROJECT, INC., FOCUSES ON ESTABLISHING A NEW BENCHMARK OF MATHEMATICS LITERACY FOR PREVIOUSLY LOW-PERFORMING SCHOOL CHILDREN ATTENDING PUBLIC SCHOOLS IN UNDER-SERVED INNER CITY AND RURAL DISTRICTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Crombie Director Of Professional D | 37.5 | $154,020 | |
Benajmin Moynihan Interim Executive Director | Officer | 37.5 | $120,430 |
Edwige A Kenmegne Director Of Finance & Acco | 37.5 | $110,330 | |
Khari Milner Chairman Of The Board, Acting President | OfficerTrustee | 2 | $0 |
Ladon Love Vice Chairwoman | OfficerTrustee | 2 | $0 |
Herbert Brown Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $119,761 |
| All other contributions, gifts, grants, and similar amounts not included above | $750,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $869,907 |
| Total Program Service Revenue | $302,215 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,172,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $393,733 |
| Compensation of current officers, directors, key employees. | $133,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $109,692 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,213 |
| Travel | $69,320 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $853 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,002,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $762,284 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $201,960 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,360 |
| Net Land, buildings, and equipment | $3,598 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $975,202 |
| Accounts payable and accrued expenses | $41,402 |
| Grants payable | $0 |
| Deferred revenue | $4,690 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $46,092 |
| Net assets without donor restrictions | $710,360 |
| Net assets with donor restrictions | $218,750 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $975,202 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that The Algebra Project Inc has recieved totaling $546,572.
| Awarding Organization | Amount |
|---|---|
The Poss Family Foundation Brookline, MA PURPOSE: TO PROMOTE ITS CHARITABLE PURPOSE | $500,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $11,500 |
The John Doar Foundation The Woolworth Building Millerton, NY PURPOSE: EDUCATIONAL PROGRAMMING | $5,000 |
The Sidney Hillman Foundation Inc New York, NY PURPOSE: AWARD | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $72 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John A Coleman School Yonkers, NY | $5,649,439 | $19,245,814 |
Halo Network Inc Amityville, NY | $5,984,377 | $20,823,404 |
Ascend Learning Inc Brooklyn, NY | $10,949,837 | $20,246,927 |
Pike School Inc Andover, MA | $31,746,911 | $18,230,890 |
Workforce Development Corp New York, NY | $20,852,099 | $12,566,315 |
International School Of Brooklyn Brooklyn, NY | $6,521,944 | $15,095,239 |
Watershed Agricultural Council Of The New York City Watersheds Inc Walton, NY | $8,601,609 | $14,819,769 |
North Atlantic States Carpenters Labor Management Program Boston, MA | $29,841,142 | $12,688,057 |
Purpose Foundation Island Park, NY | $1,585,866 | $11,041,724 |
Together Education Inc New York, NY | $57,079,543 | $31,828,853 |
St Stephens School Corporation New York, NY | $22,745,119 | $12,506,958 |
Aids Community Resources Syracuse, NY | $5,910,589 | $11,647,992 |