Many Brains Project INC EIN 47-4239522

Many Brains Project INC

EIN  47-4239522 Public charity (501(c)(3)) Belmont, MA
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Size
$100K–1M
What they do
Develops research tools to speed up mind and brain studies for patients.
Leadership
Paolo Martini · Head of Research & Develop · $155K
Money in and out
$424K revenue, $623K expenses
Bottom line
76% program efficiency

Develops research tools to speed up mind and brain studies for patients. For fiscal year 2025 it reported $424K in revenue, $623K in expenses, and $199K in net assets.Pt I

Where the money goes · FY2025
Total revenue
$424K
Pt VIII · Ln 12
Total expenses
$623K
Pt IX · Ln 25
Net assets
$199K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$199K
Where spending went · Part IX cols B–D
Program services $0.76 Management & general $0.11 Fundraising $0.13
Program efficiency
76%
of spending reaches programs0% vs prior filing year
Operating runway
7.1mo
months of highly liquid reserves at operating expense rate▼ -42% vs prior filing year
Surplus margin
-47%
revenue over expenses, this year▼ -978% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$424K
FY2025▼ -30%
Expenses
$623K
FY2025▲ +9%
Total assets
$454K
FY2025▼ -31%
Total liabilities
$256K
FY20250%
Total revenue
$424K
Pt VIII · Ln 12
Total expenses
$623K
Pt IX · Ln 25
Net assets
$199K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$199K
Total assetsPt X · Ln 16$454K
Program-expense ratioPt IX · col B76%
Voting members of governing bodyPt I · Ln 34
Independent voting membersPt I · Ln 44
Mission & Programs · Part III

Where the work happens

1 program service account for $471K of program spending, described in the organization's own filed words · FY2024.
01

(1) we rebuilt the public TESTMYBRAIN.ORG website which serves up to 1,000 users a day who want to contribute to science by taking cognitive tests while also learning more about their mind and brain.

$471Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMany Brains Project INC
EINHdr · item D47-4239522
Principal addressHdr · item CBelmont, MA
WebsiteHdr · item Jwww.manybrains.net
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFScience & Technology (U99)
Ruling yearIRS BMFJun 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a4
Independent voting membersPt VI · Ln 1b4
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 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Head of Research & Develop
$155,101Pt VII · Sec A
Head of Pscyometrics & Dat
$141,962Pt VII · Sec A
Director of Programs
$109,082Pt VII · Sec A
President/Treasurer/Direct
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Clerk/Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Paolo Martini’s $155K as Head of Research & Develop is at the 86th percentile of top reported officer pay among 310 $100K–1M science & technology 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Paolo Martini$155,101$148,442$141,914$131,402$127,575
Roger Strong$141,962$135,980$102,000
Corianna Moffatt$109,082

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
Program service revenue$376K · 89%
Contributions & grants$35K · 8%
Investment income$13K · 3%
Program service revenue89%$376K
Contributions & grants8%$35K
Investment income3%$13K
Other revenue$15
Total revenueLn 12$424K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.76 Management & general $0.11 Fundraising $0.13
Program services76%$471K
Management & general11%$71K
Fundraising13%$81K
Total functional expensesLn 25$623K

Balance Sheet

Part X · end of year
CashLn 1$367K
Total assetsLn 16$454K
Total liabilitiesLn 26$256K
Total net assetsLn 32$199K
Months of cash on handcomputed7.1

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $367K · Operating expenses/yr $623K
7.1 months
Where the money goes
Program services
Program services $471K · Total expenses $623K
76%
Management & General
Management & general $71K · Total expenses $623K
11%
Fundraising
Fundraising $81K · Total expenses $623K
13%
Cost to raise $1
Fundraising expense (3-yr avg) $72K · Solicited contributions (3-yr avg) $237K
$0.30 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $35K · Total revenue $424K
8%
Government reliance
Government grants — · Total revenue $424K
Earned-income share
Program service revenue $376K · Total revenue $424K
89%
Investment reliance
Investment income $13K · Total revenue $424K
+3%
Program self-sufficiency
Program service revenue $376K · Total expenses $623K
60%
Growth & trend
Revenue growth (YoY)
This year $424K · Prior year $605K
-30%
Revenue CAGR
FY2019 $148K · FY2024 $424K
+23%
Net-asset trend (YoY)
End of year $199K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $424K · Expenses $623K
-47%
Liabilities-to-Assets
Total liabilities — · Total assets $454K
Net-asset ratio
Net assets $199K · Total assets $454K
44%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $454K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Paolo Martini · Reported title HEAD OF RESEARCH & DEVELOP · Highest reported compensation $155K · Total expenses $623K
25%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $539K · Total expenses $623K
86%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 76%
Overhead ratio 11%
Fundraising cost ratio 232%
Revenue growth -30%
Legal fee ratio 0%
Accounting fee ratio 7%

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 · FY2024
Total grants receivedfrom 1 funder$30K
Grants paid · 1 grant · $38K · 2022–2022
Wellesley CollegeMA · FY2022$38,000

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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
FY2025 (Latest)$424K revenue · viewing · ⤓ 990 PDF
FY2024$605K revenue · ⤓ 990 PDF
FY2023$740K revenue · ⤓ 990 PDF
FY2022$349K revenue · ⤓ 990 PDF
FY2021$239K revenue · ⤓ 990 PDF
FY2020$148K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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