Open Mind Collective EIN 92-0801830

Open Mind Collective

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Heals minds and hearts using psychedelic medicine and research for traumatized individuals. For fiscal year 2024 it reported $108K in revenue, $76K in expenses, and $-97K in net assets.Pt I

Type
Public charity (501(c)(3)) · Mental Health
Location
San Francisco, CA
Website
openmindcollective.org
Filings
3 on file (2022–2024)
Revenue
$108KFY2024
Expenses
$76K
Net assets
$-97K
People
5
Filings
3
Updates
0
More identity details & actions ⌄
EIN  92-0801830 Public charity (501(c)(3)) San Francisco, CA
Form 990 (PDF)
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Size
$100K–1M
What they do
Heals minds and hearts using psychedelic medicine and research for traumatized individuals.
Leadership
Sidney Edsall · President
Money in and out
$108K revenue, $76K expenses
Bottom line
55% program efficiency
Where the money goes · FY2024
Total revenue
$108K
Pt VIII · Ln 12
Total expenses
$76K
Pt IX · Ln 25
Net assets
$-97K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $32K
Where spending went · Part IX cols B–D
Program services $0.55 Management & general $0.45 Fundraising $0.00
Program efficiency
55%
of spending reaches programs▲ +102% vs prior filing year
Operating runway
0.5mo
months of highly liquid reserves at operating expense rate▼ -38% vs prior filing year
Surplus margin
+30%
revenue over expenses, this year▲ +139% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$108K
FY2024▼ -36%
Expenses
$76K
FY2024▼ -75%
Total assets
$11K
FY2024▼ -44%
Total liabilities
$108K
FY2024▼ -27%
Total revenue
$108K
Pt VIII · Ln 12
Total expenses
$76K
Pt IX · Ln 25
Net assets
$-97K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$32K
Total assetsPt X · Ln 16$11K
Program-expense ratioPt IX · col B55%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $42K of program spending, described in the organization's own filed words · FY2024.
01

We receive funding and support from donations of individuals and organizations in support of psychedelic medicine treatments and by large pharmaceutical companies that are developing these medicines and research protocols.

$42Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COpen Mind Collective
EINHdr · item D92-0801830
Principal addressHdr · item CSan Francisco, CA
WebsiteHdr · item Jopenmindcollective.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFMental Health (F20)
Ruling yearIRS BMFApr 2023

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
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
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$73K · 68%
Other revenue$35K · 32%
Contributions & grants68%$73K
Other revenue32%$35K
Total revenueLn 12$108K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.55 Management & general $0.45 Fundraising $0.00
Program services55%$42K
Management & general45%$34K
Fundraising$161
Total functional expensesLn 25$76K

Balance Sheet

Part X · end of year
CashLn 1$3K
Total assetsLn 16$11K
Total liabilitiesLn 26$108K
Total net assetsLn 32$-97K
Months of cash on handcomputed0.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $3K · Operating expenses/yr $76K
0.5 months
Where the money goes
Program services
Program services $42K · Total expenses $76K
55%
Management & General
Management & general $34K · Total expenses $76K
45%
Fundraising
Fundraising $161 · Total expenses $76K
0.2%
Cost to raise $1
Fundraising expense (2-yr avg) $686 · Solicited contributions (2-yr avg) $103K
$0.01 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $73K · Total revenue $108K
68%
Government reliance
Government grants — · Total revenue $108K
Earned-income share
Program service revenue $0 · Total revenue $108K
0%
Investment reliance
Investment income $0 · Total revenue $108K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $76K
0%
Growth & trend
Revenue growth (YoY)
This year $108K · Prior year $169K
-36%
Net-asset trend (YoY)
End of year $-97K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $108K · Expenses $76K
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $11K
Net-asset ratio
Net assets $-97K · Total assets $11K
-879%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $11K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Sidney Edsall · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $76K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $56K · Total expenses $76K
74%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 55%
Overhead ratio 45%
Fundraising cost ratio 0.2%
Revenue growth -36%
Legal fee ratio 2%
Accounting fee ratio 1%

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$5K

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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 (Latest)$108K revenue · viewing · ⤓ 990 PDF
FY2023$169K revenue · ⤓ 990 PDF
FY2022$0 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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