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← HOPE FOR DEPRESSION RESEARCH FOUNDATION

Form 990 for tax year 2023

Filed by HOPE FOR DEPRESSION RESEARCH FOUNDATION.

Totals

Total revenue
$2,671,993
Total expenses
$8,469,439
Contributions and grants received
$2,107,248
Grants paid
$5,777,760
Program service revenue
$0
Investment income
$564,745
Other revenue
$0
Total assets, end of year
$44,089,416
Total liabilities, end of year
$5,323,270
Net assets or fund balances, end of year
$38,766,146
Program services expenses (Part IX)
$6,359,591
Management and general expenses
$780,782
Fundraising expenses
$1,329,066
Program service expenses (Part III)
$6,359,591

Program services were 75.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $1,885,397

  • 1f · All other contributions, gifts and grants

    $221,851

  • 3 · Investment income

    total $564,745 · excluded $564,745

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,969,248 · program services $4,969,248

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $808,512 · program services $808,512

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $291,395 · program services $101,988 · management and general $101,988 · fundraising $87,419

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $511,367 · program services $178,978 · management and general $178,978 · fundraising $153,411

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $129,808 · program services $45,433 · management and general $45,433 · fundraising $38,942

  • 10 · Payroll taxes

    total $58,845 · program services $20,596 · management and general $20,596 · fundraising $17,653

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $14,972 · program services $0 · management and general $14,972 · fundraising $0

  • 11c · Fees: accounting

    total $138,750 · program services $0 · management and general $138,750 · fundraising $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $453,047 · program services $45,948 · management and general $43,575 · fundraising $363,524

  • 12 · Advertising and promotion

    total $29,164 · program services $1,623 · management and general $0 · fundraising $27,541

  • 13 · Office expenses

    total $51,439 · program services $2,505 · management and general $36,941 · fundraising $11,993

  • 14 · Information technology

    total $39,156 · program services $245 · management and general $34,729 · fundraising $4,182

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $103,524 · program services $27,514 · management and general $6,627 · fundraising $69,383

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $12,682 · program services $0 · management and general $12,682 · fundraising $0

  • 24a · Other expenses: CONTRACT & TEMPORARIES

    total $939 · program services $0 · management and general $0 · fundraising $939

  • 24b · Other expenses: MEALS & ENTERTAINMENT

    total $23,599 · program services $12,519 · management and general $561 · fundraising $10,519

  • 24c · Other expenses: RECRUITING AND LOCATING

    total $1,126 · program services $394 · management and general $394 · fundraising $338

  • 24d · Other expenses: PROMOTIONAL AND MEDIA EXPENSE

    total $147,304 · program services $67,530 · management and general $0 · fundraising $79,774

  • 24e · All other expenses

    total $684,562 · program services $76,558 · management and general $144,556 · fundraising $463,448

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $155,473 · end of year $199,178

  • 2 · Savings and temporary cash investments

    beginning of year $164,448 · end of year $7,687

  • 3 · Pledges and grants receivable

    beginning of year $7,260 · end of year $59,842

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $67,828 · end of year $175,879

  • 10a · Land, buildings and equipment: cost or other basis

    $58,652

  • 10b · Land, buildings and equipment: accumulated depreciation

    $58,652

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $122,155 · end of year $200,830

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $46,696,000 · end of year $43,446,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $54,449 · end of year $39,319

  • 18 · Grants payable

    beginning of year $5,019,079 · end of year $4,864,817

  • 19 · Deferred revenue

    beginning of year $82,061 · end of year $130,995

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $100,883 · end of year $288,139

  • 27 · Net assets without donor restrictions

    beginning of year -$4,800,462 · end of year -$4,679,854

  • 28 · Net assets with donor restrictions

    beginning of year $46,757,154 · end of year $43,446,000

Mission and programs · 2023

Mission

OUR MISSION IS TWO-FOLD: FIRST AND FOREMOST HDRF FUNDS THE MOST INNOVATIVE NEUROSCIENCE RESEARCH INTO THE ORIGINS, DIAGNOSIS, TREATMENT AND PREVENTION OF DEPRESSION AND ITS RELATED MOOD DISORDERS BIPOLAR DISORDER, POSTPARTUM DEPRESSION, POST-TRAUMATIC STRESS DISORDER, ANXIETY DISORDER AND SUICIDE. OUR SECOND GOAL IS TO RAISE AWARENESS OF DEPRESSION AS A MEDICAL ILLNESS AND TO EDUCATE THE PUBLIC ABOUT THE FACTS OF DEPRESSION. WE EDUCATE AND INFORM IN ORDER TO HELP REMOVE THE STIGMA OF DEPRESSION. ********************************************************************* *********************************************************************

Activities or mission (Part I)

THE FOUNDATION FUNDS RESEARCH TO FIND THE ROOT CAUSES OF AND NEW AND BETTER TREATMENTS FOR DEPRESSION, AS WELL AS PROGRAMS TO RAISE PUBLIC AWARENESS ABOUT THE ILLNESS.

  • THE FOUNDATION WAS INCORPORATED TO FUND THE MOST INNOVATIVE NEUROSCIENCE RESEARCH INTO THE ORIGINS, DIAGNOSIS, TREATMENT AND PREVENTION OF DEPRESSION AND ITS RELATED MOOD DISORDERS- BIPOLAR DISORDER, POSTPARTUM DEPRESSION, POST-TRAUMATIC STRESS DISORDER, ANXIETY DISORDER AND SUICIDE. ******************************************************************

    Expenses $6,359,591 · Grants $5,777,760

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Louisa Benton

    EXECUTIVE DIRECTOR

    Total calculated
    $291,395
    From this org
    $291,395
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,595
    Bonus
    $47,800
    Other
    not reported
    Deferred
    $17,484
    Nontaxable benefits
    $10,803
    Filer's total
    $319,682

  • Audrey B Gruss

    CHAIRMAN & DIRECTOR

    Total calculated
    $0
    Hours/week
    20

  • Dr Harold W Koenigsberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • David Zislin

    VICE PRESIDENT / TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dr Steven P Roose

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Robert Michels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr David Kahn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Martin D Gruss

    SENIOR VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bhash Lalta

    VICE PRESIDENT / SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Courtney Keemss

    ASSISTANT SECRETARY

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • EVERGREEN INSTITUTIONAL PARTNERS LP

    INVESTMENTS · DE · 31.68% owned · share of income $559,506 · share of assets $43,446,000

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GRUSS & CO LLC

    LLC · MANAGEMENT · FL · 0% owned · share of income $0 · share of assets $0

    Directly controlled by N A

Provenance

Return type
form_990
Tax year
2023
Filed
5 May 2025
IRS schema version
2023v6.0
Source object
202531339349303848

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