Open Mind Collective EIN 92-0801830 Form 990 (PDF) Claim this org

Open Mind Collective FY2023 filing

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Heals minds and hearts using psychedelic medicine and research for traumatized individuals. For fiscal year 2023 it reported $169K in revenue, $299K in expenses, and $-130K in net assets.Pt I

Type
Public charity (501(c)(3)) · Mental Health
Location
San Francisco, CA
Website
openmindcollective.org
Filings
3 on file (2022–2023)
Revenue
$169KFY2023
Expenses
$299K
Net assets
$-130K
People
1
Filings
3
Updates
0
More identity details & actions ⌄
EIN  92-0801830 Public charity (501(c)(3)) San Francisco, CA
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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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
$169K revenue, $299K expenses
Bottom line
27% program efficiency
Where the money goes · FY2023
Total revenue
$169K
Pt VIII · Ln 12
Total expenses
$299K
Pt IX · Ln 25
Net assets
$-130K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$130K
Where spending went · Part IX cols B–D
Program services $0.27 Management & general $0.72 Fundraising $0.00
Program efficiency
27%
of spending reaches programs
Operating runway
0.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-76%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$169K
FY2023
Expenses
$299K
FY2023
Total assets
$20K
FY2023
Total liabilities
$149K
FY2023
Total revenue
$169K
Pt VIII · Ln 12
Total expenses
$299K
Pt IX · Ln 25
Net assets
$-130K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$130K
Total assetsPt X · Ln 16$20K
Program-expense ratioPt IX · col B27%
Voting members of governing bodyPt I · Ln 32
Independent voting membersPt I · Ln 4pending

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 1a2
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
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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2023.
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.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$132K · 78%
Program service revenue$38K · 22%
Contributions & grants78%$132K
Program service revenue22%$38K
Total revenueLn 12$169K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.27 Management & general $0.72 Fundraising $0.00
Program services27%$81K
Management & general72%$217K
Fundraising$1K
Total functional expensesLn 25$299K

Balance Sheet

Part X · end of year
CashLn 1$11K
Total assetsLn 16$20K
Total liabilitiesLn 26$149K
Total net assetsLn 32$-130K
Months of cash on handcomputed0.4

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $11K · Operating expenses (Pt IX) $299K · Less non-cash grants $130K · Cash operating expenses/yr $169K
0.8 months
Where the money goes
Program services
Program services $81K · Total expenses $299K
27%
Management & General
Management & general $217K · Total expenses $299K
72%
Fundraising
Fundraising $1K · Total expenses $299K
0.4%
Cost to raise $1
Fundraising expense $1K · Solicited contributions $132K
$0.01 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $132K · Total revenue $169K
78%
Government reliance
Government grants — · Total revenue $169K
Earned-income share
Program service revenue $38K · Total revenue $169K
22%
Investment reliance
Investment income $0 · Total revenue $169K
0%
Program self-sufficiency
Program service revenue $38K · Total expenses $299K
13%
Growth & trend
Revenue growth (YoY)
This year $169K · Prior year $0
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $-130K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $169K · Expenses $299K
-76%
Liabilities-to-Assets
Total liabilities — · Total assets $20K
Net-asset ratio
Net assets $-130K · Total assets $20K
-658%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $20K
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 $299K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $217K · Total expenses $299K
72%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 27%
Overhead ratio 72%
Fundraising cost ratio 0.9%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%

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 · ⤓ 990 PDF
FY2023$169K revenue · viewing · ⤓ 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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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