Terc Inc

Analysis

Terc Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in June 1967, 59 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Terc Inc reported income of $14.9m and spending of $16.3m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.5m to $14.9m (+30%), an average of +6.7% a year. The sharpest change came in the year to December 2022, when income rose by 24%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Terc Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Society for Mining Metallurgy and Exploration Inc ($14.9m), Keystone Symposia on Molecular and Cellular Biology ($14.9m) and North Carolina Symphony Society Inc ($14.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $379k (2.3% of expenses). Other salaries and wages came to $7.1m. At year end it held assets of $23.4m against liabilities of $5.7m, net assets of $17.8m. It reported 104 employees.