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Brain Science Foundation INC FY2021 filing

Wellesley, MAUnknown exempt organizationEIN 27-1071028Revenue $26K in FY2021

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

FY2021 · 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
Concern: 0.0 months of spending in cash; under 2 weeks.
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
$6K
×691 of total assets
Concern: liabilities are 69100% 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
$26K
-13% vs prior year
Spent
$10K
To programs
100%
Net assets
−$6K
By yearFY2020–FY2023
Revenue
$26K
FY2021▼ -13%
Tap a bar for its year
Revenue by fiscal year
FY2020$29K
FY2021$26K
FY2022$11K
FY2023$17K
Expenses
$10K
FY2021▼ -31%
Tap a bar for its year
Expenses by fiscal year
FY2020$15K
FY2021$10K
FY2022$10K
FY2023$14K
Net assets
−$6K
FY2021▲ +73%
Tap a bar for its year
Net assets by fiscal year
FY2020−$21K
FY2021−$6K
FY2022−$4K
FY2023$0

From the FY2021 Form 990 (year ending September 2021) · see the original

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You’re viewing the FY2021 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% · $10K

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 (FY2020); the FY2021 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 · $10K · in their own filed words · FY2020
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.

$10Kprogram 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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$26K
Ln 12
Gifts and grantsLn 1h$26K
Money outPt IX
$10K
Ln 25
Programscol B$10K
Owns and owesPt X
−$6K
net assets · Ln 32
Cash and savingsLn 1–2$8
Total assetsLn 16$8
LiabilitiesLn 26$6K
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$26K
Total revenueLn 12$26K
Assets in detailPt X, end of year
CashLn 1$8
Cash and savings togetherLn 1–2$8
Total assetsLn 16$8
LiabilitiesLn 26$6K
Net assetsLn 32−$6K
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 FY21End FY21
Cash and savingsLn 1–2$689$8
Total assetsLn 16$1K$8
LiabilitiesLn 26$22K$6K
Net assetsLn 32−$21K−$6K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$697$697
Information technologyLn 14$3K$3K
InsuranceLn 23$2K$2K
Total functional expensesLn 25$10K$10K$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 Viewing $26K$10K$15K−$6K 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $25,557 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $29,241$25,557
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $29,241$25,557
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 $14,998$10,288
I-18 Total expensesPrior year $14,998$10,288
I-19 Revenue less expensesPrior year $14,243$15,269
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 $25,557 across 3 lines filed
VIII-1f All other contributions, gifts and grants$25,557
VIII-1h Total contributions, gifts and grants$25,557
VIII-12 Total revenue$25,557
Part IX · Statement of functional expenses $10,288 across 5 lines filed
IX-11c Accounting feesPrograms $1,956$1,956
IX-12 Advertising and promotionPrograms $2,250$2,250
IX-13 Office expensesPrograms $697$697
IX-14 Information technologyPrograms $3,159$3,159
IX-23 InsurancePrograms $2,226$2,226
IX-25 Total functional expensesPrograms $10,288 · Management $0 · Fundraising $0$10,288
Part X · Balance sheet $8 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $689$8
X-16 Total assetsStart of year $1,302$8
X-17 Accounts payable and accrued expensesStart of year $1,799$1,800
X-25 Other liabilitiesStart of year $20,285$3,721
X-26 Total liabilitiesStart of year $22,084$5,521
X-27 Net assets without donor restrictionsStart of year −$20,782−$5,513
X-32 Total net assets or fund balancesStart of year −$20,782−$5,513
X-33 Total liabilities and net assetsStart of year $1,302$8
Part XI · Reconciliation of net assets −$5,513 net assets at year end
XI-1 Total revenue$25,557
XI-2 Total expenses$10,288
XI-3 Revenue less expenses$15,269
XI-4 Net assets at start of year−$20,782
XI-10 Net assets at end of year−$5,513

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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