Ketamine Research Foundation

Tax-deductible

San Anselmo, CA501(c)(3)Mental HealthEIN 82-1206912Revenue $674K in FY2024

On file with the IRSketamineresearchfoundation.com6 Crest Ave, 94960-2553 · San Anselmo, CATax-exempt since Jun 2017Publicly supported — 509(a)(2)

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The specific purpose of the corporation shall include without limitation: to evolve and provide Research, training, and education in the development of ketamines use for psychiatric and psychotherapeutic science and clinical practice.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$136K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $56K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$136K
to officers and key staff · 21% of spending
Top officer’s pay higher than 95% of similar orgs
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $247K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$674K
-24% vs prior year
Spent
$641K
To programs
94%
Net assets
$559K
By yearFY2020–FY2024
Revenue
$674K
FY2024▼ -24%
Tap a bar for its year
Revenue by fiscal year
FY2020$429K
FY2021$1.0M
FY2022$889K
FY2023$884K
FY2024$674K
Expenses
$641K
FY2024▼ -33%
Tap a bar for its year
Expenses by fiscal year
FY2020$304K
FY2021$759K
FY2022$940K
FY2023$959K
FY2024$641K
Net assets
$559K
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020$403K
FY2021$652K
FY2022$600K
FY2023$526K
FY2024$559K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2017.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $602K Management & general 4% · $24K Fundraising 2% · $16K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990; $136K paid to officers and key staff.

Part VII, Section A · reportable compensation
$136,500Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Chair of the Board
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Philip E Wolfson MD’s $136K as CEO is at the 95th percentile of top reported officer pay among 2094 $100K–1M mental health 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022
Philip E Wolfson MD$136,500$172,737$135,166

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.

See Ketamine Research Foundation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Advance research, training, and education in ketamine's use for psychiatric and psychotherapeutic science.

Provided by the organization

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2 programs · $602K · in their own filed words · FY2024
01

KRF's Ketamine Training Center continued its practitioner training programs with over 1000 persons trained as of 2024. Our 2nd Annual Dharma K program was held as well as our Advanced Sharing program. WE remain as the principle and most complete training organization for KAP and Ketamine work.

$350Kprogram expense
02

Ketamine is the only legally available medicine with psychedelic therapeutic methodologies and practices that will serve as a model and development ground as other psychoactive medicines become available for clinical practice.

$252Kprogram 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 · FY2024
See all 6 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$674K
Ln 12
Fees for servicesLn 2g$349K
Gifts and grantsLn 1h$324K
Other incomeLn 4–11$784
Money outPt IX
$641K
Ln 25
Programscol B$602K
Managementcol C$24K
Fundraisingcol D$16K
Owns and owesPt X
$559K
net assets · Ln 32
Cash and savingsLn 1–2$558K
Total assetsLn 16$561K
LiabilitiesLn 26$2K
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$324K
Fees for servicesLn 2g$349K
Investment incomeLn 3$227
Other incomeLn 4–11$784
Total revenueLn 12$674K
Assets in detailPt X, end of year
CashLn 1$558K
Cash and savings togetherLn 1–2$558K
Other assetsLn 15$3K
Total assetsLn 16$561K
LiabilitiesLn 26$2K
Net assetsLn 32$559K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$525K$558K
Total assetsLn 16$528K$561K
LiabilitiesLn 26$2K$2K
Net assetsLn 32$526K$559K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$750$750
Grants and assistance to foreign recipientsLn 3$5K$5K
Pay of current officers, directors and key staffLn 5$136K$105K$16K$16K
Accounting feesLn 11c$5K$5K
Office expensesLn 13$2K$2K$430
Information technologyLn 14$7K$7K
OccupancyLn 16$13K$12K$1K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$5K$5K
InterestLn 20$89$89
InsuranceLn 23$5K$4K$926
Other expenses (24a–d)Ln 24$461K$461K$108
Total functional expensesLn 25$641K$602K$24K$16K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $674K$641K$33K$559K 990 PDF
FY2023 $884K$959K−$74K$526K 990 PDF
FY2022 $889K$940K−$52K$600K 990 PDF
FY2021 $1.0M$759K$249K$652K 990 PDF
FY2020 $429K$304K$125K$403K 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 FY2024 990 (6 parts)
Part I · Summary $674,218 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $198,695$323,885
I-9 Program service revenuePrior year $691,065$349,322
I-10 Investment incomePrior year $536$227
I-11 Other revenuePrior year −$5,985$784
I-12 Total revenuePrior year $884,311$674,218
I-13 Grants and similar amounts paidPrior year $0$5,750
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $172,737$136,500
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $785,968$499,153
I-18 Total expensesPrior year $958,705$641,403
I-19 Revenue less expensesPrior year −$74,394$32,815
Part VI · Governance 6 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $674,218 across 6 lines filed
VIII-1f All other contributions, gifts and grants$323,885
VIII-1h Total contributions, gifts and grants$323,885
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $349,322$349,322
VIII-3 Investment incomeExcluded from tax $227$227
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $784$784
VIII-12 Total revenueRelated to mission $349,322 · Unrelated business $0 · Excluded from tax $1,011$674,218
Part IX · Statement of functional expenses $641,403 across 12 lines filed
IX-2 Grants to domestic individualsPrograms $750$750
IX-3 Grants and assistance to foreign recipientsPrograms $5,000$5,000
IX-5 Pay of current officers, directors and key staffPrograms $105,000 · Management $15,750 · Fundraising $15,750$136,500
IX-11c Accounting feesManagement $5,000$5,000
IX-13 Office expensesPrograms $1,736 · Management $430$2,166
IX-14 Information technologyPrograms $6,761$6,761
IX-16 OccupancyPrograms $11,700 · Management $1,300$13,000
IX-17 TravelPrograms $1,027$1,027
IX-19 Conferences, conventions and meetingsPrograms $5,000$5,000
IX-20 InterestManagement $89$89
IX-23 InsurancePrograms $3,706 · Management $926$4,632
IX-24 Other expenses (24a–d)Programs $461,370 · Management $108$461,478
IX-25 Total functional expensesPrograms $602,050 · Management $23,603 · Fundraising $15,750$641,403
Part X · Balance sheet $560,755 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $524,941$557,755
X-15 Other assetsStart of year $3,000$3,000
X-16 Total assetsStart of year $527,941$560,755
X-17 Accounts payable and accrued expensesStart of year $1,964$1,964
X-26 Total liabilitiesStart of year $1,964$1,964
X-27 Net assets without donor restrictionsStart of year $525,977$558,791
X-32 Total net assets or fund balancesStart of year $525,977$558,791
X-33 Total liabilities and net assetsStart of year $527,941$560,755
Part XI · Reconciliation of net assets $558,791 net assets at year end
XI-1 Total revenue$674,218
XI-2 Total expenses$641,403
XI-3 Revenue less expenses$32,815
XI-4 Net assets at start of year$525,977
XI-9 Other changes in net assets−$1
XI-10 Net assets at end of year$558,791

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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