Prime Factor
- Assets
- $103.9k
- Revenue
- $311.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Kirkland, WA
- Founding
- 05/2019
- Data as of
- 07/2023
- EIN
- 27-3292905
Organization Overview
Prime Factor, operating under the name Prime Factor Math Circle, is located in Kirkland, WA. The organization was established in 2019. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 07/2023, Prime Factor Math Circle employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prime Factor Math Circle 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 07/2023, Prime Factor Math Circle generated $311.7k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $312.5k during the year ending 07/2023. While expenses have increased by 7.4% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER THE INTEREST OF STUDENTS IN MATH BEYOND OF THE SCHOOL CURRICULUM TO PROVIDE ADVANCED MATH CLASSES TO STUDENTS UNDERSERVED IN THE COMMUNITY TO HELP CHILDREN PREPARE FOR CAREERS IN MATH, SCIENCE, OR OTHER FIELDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE 2022-23 SCHOOL YEAR, PRIME FACTOR ACHIEVED SEVERAL MILESTONES AS A NONPROFIT ORGANIZATION. WE SERVED OVER 320 STUDENTS BY PROVIDING YEAR-LONG STEM CLASSES IN MATHEMATICS AND COMPUTER SCIENCE. OUR UNIQUE ADVANCED CLASSES INCLUDED MATH CIRCLES FOR STUDENTS IN GRADES 2, 3-4, 4-5, 5-6, 6-7, AND 8-9, AS WELL AS PROGRAMMING CLASSES IN SCRATCH, APPLAB, PYTHON, JAVASCRIPT, ELECTRICAL ENGINEERING WITH ARDUINO, AND JAVA FOR STUDENTS IN GRADES 3 UP TO UPPER HIGH SCHOOL. WE ALSO OFFERED CODING COMPETITION AND MATH CONTEST PREPARATION CLASSES, AND ORGANIZED SEVERAL MATHEMATICAL CONTESTS SUCH AS MATH KANGAROO, AND NOETIC LEARNING. IN ADDITION, WE ORGANIZED THE LOGIC LAND 2023, A FAMILY MATH FESTIVAL, WHICH WAS ATTENDED BY MORE THAN 300 CHILDREN, AND THEIR PARENTS. AS A NONPROFIT ORGANIZATION, WE ALSO MADE A POSITIVE IMPACT BY PARTICIPATING IN EFFORTS TO HELP CHILDREN FROM THE FAMILIES RECENTLY DISPLACED BY WAR OR EXPERIENCING ECONOMIC HARDSHIP. WE OFFERED FREE AND DISCOUNTED CLASSES FOR CHILDREN WHOSE FAMILIES WERE AFFECTED BY ECONOMIC HARDSHIP. OUR LOGIC LAND FESTIVAL WAS FREE FOR FAMILIES WITH FINANCIAL NEED (HTTPS://SITES.GOOGLE.COM/VIEW/LOGICLAND2023/HOME). WE KEEP PROVIDING FREE ONLINE CODING CLASSES TO STUDENTS IN UKRAINE. OUR TEACHERS ACTIVELY PARTICIPATED IN PREPARATION AN ORGANIZATION OF MATH HOUR OLYMPIAD, A UNIQUE ORAL MATH COMPETITION FOR MIDDLE SCHOOL CHILDREN FREE TO ALL PARTICIPANTS. HTTPS://SITES.MATH.WASHINGTON.EDU/~MATHCIRCLE/MATHHOUR/OLYMPIAD.HTML MATH HOUR OLYMPIAD IS A RENOWNED MATH CONTEST ORGANIZED BY NUMEROUS MATH PROFESSIONALS VOLUNTEERING FOR THE EVENT, AND COORDINATED BY THE MATH DEPARTMENT OF THE UNIVERSITY OF WASHINGTON. OVERALL, THESE ACHIEVEMENTS DEMONSTRATE PRIME FACTOR'S COMMITMENT TO PROVIDING HIGH-QUALITY STEM EDUCATION AND MAKING A POSITIVE IMPACT IN OUR COMMUNITY AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luba Malkina Lead Teacher | OfficerTrustee | 35 | $44,321 |
Anna Burago Lead Teacher | OfficerTrustee | 35 | $33,840 |
Andrei Burago Director | Trustee | 2 | $0 |
Alexander Vaschillo Director | Trustee | 0.5 | $0 |
Sergei Malkin Director | Trustee | 2 | $0 |
Nelli Tkach Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,272 |
| Total Program Service Revenue | $307,456 |
| 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 | $311,728 |
| 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. | $78,161 |
| Compensation of current officers, directors, key employees. | $17,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,690 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,537 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,180 |
| Advertising and promotion | $3,575 |
| Office expenses | $4,974 |
| Information technology | $1,718 |
| Royalties | $0 |
| Occupancy | $62,983 |
| Travel | $0 |
| 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 | $2,018 |
| Insurance | $440 |
| All other expenses | $0 |
| Total functional expenses | $312,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,140 |
| Savings and temporary cash investments | $25 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $4,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $103,862 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $103,862 |
| Net assets with donor restrictions | $0 |
| 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 | $103,862 |