EIN 45-2917981

Promys Foundation

IRS 501(c) type
501(c)(3)
Num. employees
0
City
Year formed
2011
Most recent tax filings
2023-12-01
Description
The Promys Foundation's mission is to support the non-profit program in mathematics for young scientists (Promys) by funding various mission-related expenses, such as need-based financial aid for students and American Mathematical Society scholars. All activities of the foundation are dedicated to nurturing talent in mathematics through the Promys program, which helps young scientists find their passion and develop their skills. Based in Boston, MA, the Promys Foundation is committed to support Promys and its mission.
Total revenues
$977,797
2023
Total expenses
$493,575
2023
Total assets
$1,946,644
2023
Num. employees
0
2023

Program areas at Promys Foundation

The Promys Foundation was delighted to fund $486,226 in mission-related activities in 2023 including supporting need-based financial aid for 20 students at Promys 2023. Twelve full scholarships were awarded including the breakout fellowship, jane street fellowships, and two separately funded mehta fellowships for students from brazil and egypt. 50% of all financial aid recipients in 2023 had family incomes under $50,000 a year. Eighty high school students, 21 undergraduate counselors, and 3 junior counselors participated in Promys 2023 on the campus of boston university.promys india - Promys was excited to launch Promys india in 2023 with all students receiving full scholarships covering all costs of participation including tuition, room & board, and travel. The new program ran for six weeks in partnership with, and on the campus of, the indian institute of science (iisc) bangalore. A very large number of strong applications were received from across india. Thirty-one very talented high school students and eight counselors participated. Promys india is free for all students thanks to generous support from our partners and donors. The founding sponsors of Promys india are nick nash & phalgun raju, avi and sandra nash, and the indira Foundation. We are also very grateful for the generosity of the packard Foundation, jane street, squarepoint Foundation, and the spirit of ramanujan. Jane street - the Promys Foundation is very grateful to jane street for its generous support for Promys 2023 including two jane street fellowships for students, two jane street fellowships for counselors, and support for Promys pathways (formerly known as Promys math circle) designed for highly motivated students of mathematics in the boston area who are from low-income backgrounds or from other groups underrepresented in stem. Jane street also gave generous support to Promys india and Promys europe.promys india summer program - Promys Foundation is excited and grateful to have been awarded a $225,000 grant for general support from the david and lucile packard Foundation for Promys india 2023-2025. The inaugural summer of Promys india ran from may 7 to june 17, 2023 at the indian institute of science (iisc) bangalore. Thanks to the generosity of our partners and sponsors, Promys india 2023 was free for all students. Promys pathway - Promys pathways provides deep mathematical experiences to students who are from backgrounds traditionally underrepresented in stem and to those who might not otherwise have access to extracurricular mathematics opportunities. These opportunities include the pathways summer program, weekly math circles, and special collaborative events. Promys pathways was previously known as Promys math circle or pmc. 2023 was the 2nd summer of the Promys pathways summer program on the campus of boston university. The 4-week program was free to participants, including public transportation costs and lunches. The thirteen participants were recruited from pathways math circles or were local financial aid applicants to Promys. But weren't quite ready to attend the flagship program.

Grants made by Promys Foundation

GranteeGrant descriptionAmount
Trustees of Boston UniversityMehta Fellowships and Promys India Support$214,223
Trustees of Boston University$75,000 Grant To Promys for Teachers$75,000
Trustees of Boston UniversityPromys Pathways$51,000
...and 6 more grants made

Who funds Promys Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
David and Lucile Packard FoundationSpecial Opportunities$225,000
Morgan Stanley Global Impact Funding TrustUnrestricted General Support$125,000
Carina InitiativesEntity Support$100,000
...and 4 more grants received

Personnel at Promys Foundation

NameTitleCompensation
Glenn StevensBoard Member$0
Henry CohnBoard$0
Joshua GreeneBoard Member$0
Wan-Yin WuPresident$0
Demi DuboisTreas. / Treas. / Treasurer / Treas.$0
...and 1 more key personnel

Financials for Promys Foundation

RevenuesFYE 12/2023
Total grants, contributions, etc.$950,135
Program services$0
Investment income and dividends$25,737
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$1,925
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$977,797

Form 990s for Promys Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-14990View PDF
2022-122023-11-15990View PDF
2021-122022-11-15990View PDF
2020-122021-11-15990View PDF
2019-122021-03-02990View PDF
...and 6 more Form 990s
Data update history
November 24, 2024
Received grants
Identified 3 new grant, including a grant for $100,000 from Carina Initiatives
February 1, 2024
Updated personnel
Identified 3 new personnel
January 15, 2024
Posted financials
Added Form 990 for fiscal year 2022
December 31, 2023
Received grants
Identified 2 new grant, including a grant for $225,000 from David and Lucile Packard Foundation
August 20, 2023
Received grants
Identified 2 new grant, including a grant for $224,041 from Indira Foundation
Nonprofit Types
Grantmaking organizationsSchoolsCharities
Issues
Education
Characteristics
Provides grantsNational levelEndowed supportTax deductible donationsNo full-time employeesAccepts online donations
General information
Address
PO Box 15502
Boston, MA 02215
Metro area
Boston-Cambridge-Newton, MA-NH
County
Suffolk County, MA
Website URL
promysfoundation.org/ 
Phone
(617) 353-2563
IRS details
EIN
45-2917981
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2011
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B80: Student Services and Organizations of Students
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
California AB-488 details
AB 488 status
May Operate or Solicit for Charitable Purposes
Charity Registration status
Current
FTB status revoked
Not revoked
AG Registration Number
CT0180468
FTB Entity ID
None yet
AB 488 data last updated ("as-of") date
2025-01-15
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