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Nonprofiteer
← BRAINFUTURES INCORPORATED

Form 990 for tax year 2022

Filed by BRAINFUTURES INCORPORATED.

Totals

Total revenue
$910,469
Total expenses
$1,111,220
Contributions and grants received
$905,629
Grants paid
$0
Program service revenue
$0
Investment income
$4,840
Other revenue
$0
Total assets, end of year
$1,142,913
Total liabilities, end of year
$374,371
Net assets or fund balances, end of year
$768,542
Program services expenses (Part IX)
$922,225
Management and general expenses
$126,865
Fundraising expenses
$62,130
Program service expenses (Part III)
$922,225

Program services were 83.0% 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.

  • 1f · All other contributions, gifts and grants

    $905,629

  • 3 · Investment income

    total $4,840 · excluded $4,840

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $601,735 · program services $468,647 · management and general $102,953 · fundraising $30,135

  • 11b · Fees: legal

    total $11,788 · program services $11,788

  • 11c · Fees: accounting

    total $16,143 · management and general $16,143

  • 11f · Fees: investment management

    total $150 · management and general $150

  • 11g · Fees: other

    total $458,652 · program services $425,857 · management and general $800 · fundraising $31,995

  • 13 · Office expenses

    total $11,458 · program services $11,428 · management and general $30

  • 14 · Information technology

    total $4,505 · program services $4,505

  • 23 · Insurance

    total $5,101 · management and general $5,101

  • 24a · Other expenses: SUBSCRIPTIONS

    total $1,688 · management and general $1,688

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,043,542 · end of year $73,432

  • 2 · Savings and temporary cash investments

    beginning of year $305,527 · end of year $920,507

  • 3 · Pledges and grants receivable

    beginning of year $125,000 · end of year $125,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $404 · end of year $2,943

  • 15 · Other assets

    beginning of year $88,048 · end of year $21,031

  • 17 · Accounts payable and accrued expenses

    beginning of year $101,998 · end of year $68,761

  • 25 · Other liabilities

    beginning of year $491,230 · end of year $305,610

  • 27 · Net assets without donor restrictions

    beginning of year $194,293 · end of year $225,943

  • 28 · Net assets with donor restrictions

    beginning of year $775,000 · end of year $542,599

Mission and programs · 2022

Mission

BRAINFUTURES PROVIDES RIGOROUS AND UNBIASED INFORMATION ABOUT ADVANCES IN BRAIN HEALTH RESULTING FROM BREAKTHROUGHS IN UNDERSTANDING NEUROPLASTICITY OF THE BRAIN. THE ORGANIZATION IS DEDICATED TO IMPROVING HUMAN OUTCOMES BY ASSESSING AND ADVANCING PRACTICAL APPLICATIONS OF NEW SCIENTIFIC UNDERSTANDING OF THE BRAIN THROUGH RIGOROUS ISSUE BRIEFS, AND WORKS TO LAY A FOUNDATION FOR THE REGULATORY AND REIMBURSEMENT WORK NECESSARY TO ENSURE EQUITABLE ACCESS TO ADVANCES IN TREATMENT.

Activities or mission (Part I)

SEE PART III, LINE 1.

  • PHASE 2 PSYCHEDELIC PROJECT DEVELOPED PROFESSIONAL PRACTICE GUIDELINES AND A CODING GUIDE FOR A NEW THERAPEUTIC APPROACH TO TREAT VARIOUS BRAIN-BASED CONDITIONS INCLUDING DEPRESSION AND POST-TRAUMATIC STRESS DISORDER. EDUCATED THE PUBLIC THROUGH RELEASE OF PRINT MATERIALS, DIGITAL NEWSLETTERS AND SOCIAL MEDIA, CONFERENCE PRESENTATIONS TO PROFESSIONAL AUDIENCES AND AUTHORING ARTICLES FOR SELECT NATIONAL PUBLICATIONS.

    Expenses $743,875

  • EQUITY IN PSYCHEDELICSINTERVIEWED A WIDE RANGE OF STAKEHOLDERS FROM BACKGROUNDS SUCH AS COMMUNITY MENTAL HEALTH, ACADEMIA, AND PHILANTHROPY TO UNDERSTAND POTENTIAL BARRIERS TO EQUITABLE ACCESS TO PSYCHEDELIC-ASSISTED THERAPY FOR COMMUNITIES THAT ARE OFTEN UNDERSERVED BY THE HEALTHCARE SYSTEM, SUCH AS BIPOC, LGBTQ+, AND RURAL COMMUNITIES. LAID FOUNDATIONS OF A LARGER INITIATIVE TO SPARK COLLABORATION AND AMPLIFY EQUITY AND ACCESS EFFORTS IN THE PSYCHEDELIC-ASSISTED THERAPY FIELD.

    Expenses $178,350

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • George Kimes

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Timothy Santoni

    TREASURER/SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Henry Harbin

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Randall Lutz

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 3 related
  • Jeff Richardson

    MEMBER

    Total calculated
    $0
    Hours/week
    1 + 1 related
  • Susan Magsamen

    MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Linda Raines

    CHIEF EXECUTIVE DIRECTOR

    Total calculated
    $268,054
    From this org
    $0
    From related orgs
    $240,558
    Other
    $27,496
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $240,558 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,029 related
    Nontaxable benefits
    $0 + $9,467 related
    Filer's total
    $0 + $268,054 related
  • Teresa Fields

    CHIEF ADMINISTRATIVE OFFICER

    Total calculated
    $171,074
    From this org
    $0
    From related orgs
    $153,819
    Other
    $17,255
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $153,819 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,979 related
    Nontaxable benefits
    $0 + $9,276 related
    Filer's total
    $0 + $171,074 related
  • David Esselman

    EXECUTIVE DIRECTOR

    Total calculated
    $206,513
    From this org
    $0
    From related orgs
    $197,046
    Other
    $9,467
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $197,046 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,467 related
    Filer's total
    $0 + $206,513 related

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

The filer's explanations (Part III)

PART I, LINE 3
BRAINFUTURES, INC. DOES NOT HAVE ANY EMPLOYEES. THE EXECUTIVE DIRECTOR OF BRAINFUTURES INC. IS PAID BY A RELATED ORGANIZATION, THE MENTAL HEALTH ASSOCIATION OF MARYLAND. THIS ORGANIZATION USES A COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD, TO ESTABLISH THE SALARY OF THE EXECUTIVE DIRECTOR.

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

No itemized grants to organizations 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.

Provenance

Return type
form_990
Tax year
2022
Filed
8 May 2024
IRS schema version
2022v5.0
Source object
202411299349303286

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