Brain Research Foundation EIN 36-2477928

Brain Research Foundation

EIN  36-2477928 Public charity (501(c)(3)) Chicago, IL Founded 1953
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/26/26 · see original filing: IRS
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Size
$1–10M
What they do
Funds neuroscience research to improve understanding of brain function and treatments.
Leadership
Terre Constantine · Executive Director/CEO · $376K
Money in and out
$3.0M revenue, $3.4M expenses
Bottom line
81% program efficiency

Funds neuroscience research to improve understanding of brain function and treatments. For fiscal year 2024 it reported $3.0M in revenue, $3.4M in expenses, and $22.2M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$3.0M
Pt VIII · Ln 12
Total expenses
$3.4M
Pt IX · Ln 25
Net assets
$22.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$373K
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.11 Fundraising $0.08
Program efficiency
81%
of spending reaches programs▲ +15% vs prior filing year
Operating runway
82.2mo
months of highly liquid reserves at operating expense rate▼ -5% vs prior filing year
Surplus margin
-12%
revenue over expenses, this year▼ -156% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$3.0M
FY2024▼ -24%
Expenses
$3.4M
FY2024▲ +10%
Total assets
$23.4M
FY2024▲ +5%
Total liabilities
$1.2M
FY2024▲ +7%
Total revenue
$3.0M
Pt VIII · Ln 12
Total expenses
$3.4M
Pt IX · Ln 25
Net assets
$22.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$373K
Total assetsPt X · Ln 16$23.4M
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415
Mission & Programs · Part III

Where the work happens

3 program services account for $2.8M of program spending, described in the organization's own filed words · FY2024.
01

The brain research foundation supports professional training, education, and research by providing start-up money for innovative neuroscience research projects across the broad spectrum of these illnesses, including but not limited to: als (lou gehrig's disease), alzheimer's disease, attention deficit disorder, autism, bipolar disorder…

$2.5Mprogram expense
02

The brain research foundation uses promotions, marketing, and printed materials to raise funds for research on brain-related illnesses and to educate the public about neurological disorders and the foundation itself. Our fundraising efforts are to help the over 50 million americans afflicted with neurological disorders.

$147Kprogram expense
03

The brain research foundation supports educational programs for researchers and the general public through our website, printed materials and seminars. BRF sponsors an annual neuroscience day, which educates researchers working on the brain and nervous system.

$133Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBrain Research Foundation
EINHdr · item D36-2477928
Principal addressHdr · item CChicago, IL
WebsiteHdr · item Jwww.thebrf.org
Year of formationHdr · item L1953
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMedical Research (H48J)
Ruling yearIRS BMFMar 1958

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director/CEO
$375,728Pt VII · Sec A
Director of Philanthropy
$151,247Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee - Thru 10/24
$0Pt VII · Sec A
Trustee - Thru 06/25
$0Pt VII · Sec A
$0Pt VII · Sec A

Terre Constantine’s $376K as Executive Director/CEO is at the 94th percentile of top reported officer pay among 360 $1–10M medical research nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Terre Constantine$375,728$358,527$318,917$278,224$251,127$222,127
Sandra Jaggi$151,247$139,243$128,000$120,943$119,223$105,011

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$2.3M · 76%
Investment income$797K · 26%
Contributions & grants76%$2.3M
Investment income26%$797K
Total revenueLn 12$3.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.11 Fundraising $0.08
Program services81%$2.8M
Management & general11%$363K
Fundraising8%$289K
Total functional expensesLn 25$3.4M

Balance Sheet

Part X · end of year
CashLn 1$90K
Total assetsLn 16$23.4M
Total liabilitiesLn 26$1.2M
Total net assetsLn 32$22.2M
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $23.2M · Operating expenses (Pt IX) $3.4M · Less non-cash grants $22K · Cash operating expenses/yr $3.4M
82.2 months
Where the money goes
Program services
Program services $2.8M · Total expenses $3.4M
81%
Management & General
Management & general $363K · Total expenses $3.4M
11%
Fundraising
Fundraising $289K · Total expenses $3.4M
8%
Cost to raise $1
Fundraising expense (3-yr avg) $192K · Solicited contributions (3-yr avg) $1.9M
$0.10 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.3M · Total revenue $3.0M
76%
Government reliance
Government grants — · Total revenue $3.0M
Earned-income share
Program service revenue $0 · Total revenue $3.0M
0%
Investment reliance
Investment income $797K · Total revenue $3.0M
+26%
Program self-sufficiency
Program service revenue $0 · Total expenses $3.4M
0%
Growth & trend
Revenue growth (YoY)
This year $3.0M · Prior year $4.0M
-24%
Revenue CAGR
FY2019 $1.9M · FY2024 $3.0M
+10%
Net-asset trend (YoY)
End of year $22.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.0M · Expenses $3.4M
-12%
Liabilities-to-Assets
Total liabilities — · Total assets $23.4M
Net-asset ratio
Net assets $22.2M · Total assets $23.4M
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $23.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $23.4M
99%
People & payroll
Highest Reported Total Compensation
Individual Terre Constantine · Reported title EXECUTIVE DIRECTOR/CEO · Highest reported compensation $376K · Total expenses $3.4M
11%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $733K · Total expenses $3.4M
22%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 11%
Fundraising cost ratio 12%
Revenue growth -24%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$40K
Grants paid · 6 grants · $10.0M · 2019–2024
Unitemized GrantFY2024$2,150,000
Unitemized GrantFY2023$1,860,000
Unitemized GrantFY2022$1,650,000
Unitemized GrantFY2021$1,807,838
Unitemized GrantFY2020$1,497,743
Unitemized GrantFY2019$1,019,630

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$4.0M revenue · ⤓ 990 PDF
FY2023$2.3M revenue · ⤓ 990 PDF
FY2022$2.5M revenue · ⤓ 990 PDF
FY2021$4.7M revenue · ⤓ 990 PDF
FY2020$1.9M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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