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Brain Science Foundation INC FY2020 filing

Wellesley, MAUnknown exempt organizationEIN 27-1071028Revenue $29K in FY2020

On file with the IRSbrainsciencefoundation.orgPo Box 812701 · Wellesley, MA

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Assistance for the benefit of brigham & women's hospital in furtherance of its charitable, scientific, & educational purposes in the Brain sciences.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $8K a year · 41% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $34
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$22K
×18 of total assets
Concern: liabilities are 1800% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$29K
Spent
$15K
To programs
100%
Net assets
−$21K
By yearFY2020–FY2023
Revenue
$29K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$29K
FY2021$26K
FY2022$11K
FY2023$17K
Expenses
$15K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$15K
FY2021$10K
FY2022$10K
FY2023$14K
Net assets
−$21K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$21K
FY2021−$6K
FY2022−$4K
FY2023$0

From the FY2020 Form 990 (year ending September 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $15K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kathleen P Haley
Vice Preside
$0Pt VII · Sec A
See Brain Science Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports brain science research, education, and charitable work at Brigham & Women's Hospital.

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Provided by the organization

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1 program · $15K · in their own filed words · FY2019
01

Support the work and goals of the institute for the neurosciences at massachusetts general hospital in basic and clinical research, promising new diagnostic methods, treatments, and opportunities to improve the quality of patient care, research, treatment and cure for brain tumors.

$15Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$34
Total grants receivedfrom 1 funder$34

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$29K
Ln 12
Gifts and grantsLn 1h$29K
Money outPt IX
$15K
Ln 25
Programscol B$15K
Owns and owesPt X
−$21K
net assets · Ln 32
Cash and savingsLn 1–2$689
Total assetsLn 16$1K
LiabilitiesLn 26$22K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29K
Total revenueLn 12$29K
Assets in detailPt X, end of year
CashLn 1$689
Cash and savings togetherLn 1–2$689
Total assetsLn 16$1K
LiabilitiesLn 26$22K
Net assetsLn 32−$21K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$637$689
Total assetsLn 16$3K$1K
LiabilitiesLn 26$188K$22K
Net assetsLn 32−$184K−$21K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$985$985
Information technologyLn 14$3K$3K
TravelLn 17$96$96
InsuranceLn 23$2K$2K
Total functional expensesLn 25$15K$15K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $17K$14K$3K$0 990 PDF
FY2022 $11K$10K$1K−$4K 990 PDF
FY2021 $26K$10K$15K−$6K 990 PDF
FY2020 Viewing $29K$15K$14K−$21K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $29,241 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $48,782$29,241
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $48,782$29,241
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $24,327$14,998
I-18 Total expensesPrior year $24,327$14,998
I-19 Revenue less expensesPrior year $24,455$14,243
Part VI · Governance 17 of 17 board members independent, 4 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $29,241 across 3 lines filed
VIII-1f All other contributions, gifts and grants$29,241
VIII-1h Total contributions, gifts and grants$29,241
VIII-12 Total revenue$29,241
Part IX · Statement of functional expenses $14,998 across 6 lines filed
IX-11c Accounting feesPrograms $6,894$6,894
IX-12 Advertising and promotionPrograms $1,500$1,500
IX-13 Office expensesPrograms $985$985
IX-14 Information technologyPrograms $3,288$3,288
IX-17 TravelPrograms $96$96
IX-23 InsurancePrograms $2,235$2,235
IX-25 Total functional expensesPrograms $14,998 · Management $0 · Fundraising $0$14,998
Part X · Balance sheet $1,302 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $637$689
X-9 Prepaid expenses and deferred chargesStart of year $867$613
X-16 Total assetsStart of year $3,304$1,302
X-17 Accounts payable and accrued expensesStart of year $1,800$1,799
X-25 Other liabilitiesStart of year $36,530$20,285
X-26 Total liabilitiesStart of year $187,684$22,084
X-27 Net assets without donor restrictionsStart of year −$184,380−$20,782
X-32 Total net assets or fund balancesStart of year −$184,380−$20,782
X-33 Total liabilities and net assetsStart of year $3,304$1,302
Part XI · Reconciliation of net assets −$20,782 net assets at year end
XI-1 Total revenue$29,241
XI-2 Total expenses$14,998
XI-3 Revenue less expenses$14,243
XI-4 Net assets at start of year−$184,380
XI-9 Other changes in net assets$149,355
XI-10 Net assets at end of year−$20,782

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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