Civic Intelligence

Brain Science Foundation Inc

990 • Fiscal year 2018 • EIN 27-1071028

Oct 01, 2017 to Sep 30, 2018 • Filed on Dec 18, 2018

Organization ProfileWWW.BRAINSCIENCEFOUNDATION.ORG
PO Box 812701Wellesley, MA 02482

(617) 763-2717

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

100th percentile

93.49x

Higher debt load relative to assets than 100% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

99th percentile

7.79x

Higher debt load relative to revenue than 99% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

7th percentile

-56%

Higher net margin than 7% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

2nd percentile

-96%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

3rd percentile

-88%

Faster revenue growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$2,258

Down $61,409 (-96%) from 2017

Net Assets

Down

-$208,835

Down $15,205 (-7.9%) from 2017

Liabilities

Down

$211,093

Down $46,204 (-18%) from 2017

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin7th percentile

Revenue

Down

$27,103

Down $190,985 (-88%) from 2017

Expenses

Down

$42,309

Down $234,815 (-85%) from 2017

Net Income

Up

-$15,206

Up $43,830 (+74%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2010: $447,998Liabilities 2010: $271,359Net Assets 2010: $176,6392010Assets 2011: $103,108Liabilities 2011: $293,059Net Assets 2011: -$189,9512011Assets 2012: $1,784,054Liabilities 2012: $1,761,196Net Assets 2012: $22,8582012Assets 2013: $986,022Liabilities 2013: $906,059Net Assets 2013: $79,9632013Assets 2014: $463,704Liabilities 2014: $427,023Net Assets 2014: $36,6812014Assets 2017: $63,667Liabilities 2017: $257,297Net Assets 2017: -$193,6302017Assets 2018: $2,258Liabilities 2018: $211,093Net Assets 2018: -$208,8352018Assets 2019: $3,304Liabilities 2019: $187,684Net Assets 2019: -$184,3802019Assets 2020: $1,302Liabilities 2020: $22,084Net Assets 2020: -$20,7822020Assets 2021: $8Liabilities 2021: $5,521Net Assets 2021: -$5,5132021Assets 2022: $533Liabilities 2022: $4,992Net Assets 2022: -$4,4592022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2018

Assets$2,258
Liabilities$211,093
Net Assets-$208,835
Open 2018 Filing

Operations Trend

Revenue Growth3rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $500,3382010Expenses 2011: $727,7182011Expenses 2012: $2,235,1532012Expenses 2013: $280,2862013Revenue 2014: $81,988Expenses 2014: $125,270Net Income 2014: -$43,2822014Revenue 2017: $218,088Expenses 2017: $277,124Net Income 2017: -$59,0362017Revenue 2018: $27,103Expenses 2018: $42,309Net Income 2018: -$15,2062018Revenue 2019: $48,782Expenses 2019: $24,327Net Income 2019: $24,4552019Revenue 2020: $29,241Expenses 2020: $14,998Net Income 2020: $14,2432020Revenue 2021: $25,557Expenses 2021: $10,288Net Income 2021: $15,2692021Revenue 2022: $10,683Expenses 2022: $9,629Net Income 2022: $1,0542022Revenue 2023: $17,165Expenses 2023: $14,057Net Income 2023: $3,1082023

Highlighted filing

2018

Revenue$27,103
Expenses$42,309
Net Income-$15,206
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Dec 18, 2018
Return Version
2017v2.3
Gross Receipts
$27,103
Mission and Program Overview

Mission

Dedicated to finding a cure for meningioma and other primary brain tumors and to advancing the understanding of brain function as it relates to these tumors. The brain science foundation, inc. Supports basic and clinical research, promising new treatment and scientific and educational purposes in the brain science.

Assistance for the benefit of brigham & women's hospital in furtherance of its charitable, scientific, & educational purposes in the brain sciences.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$26,750--
Cash and Non-Interest-Bearing Accounts$35,865$1,379▼ $34,486
Prepaid Expenses and Deferred Charges$1,052$879▼ $173
Total Assets$63,667$2,258▼ $61,409
Liabilities
Grants Payable$149,354$149,354→ $0
Other Liabilities$62,259$54,421▼ $7,838
Accounts Payable and Accrued Expenses$45,684$6,103▼ $39,581
Deferred Revenue-$1,215-
Total Liabilities$257,297$211,093▼ $46,204
Net Assets / Fund Balance
Unrestricted Net Assets$-193,630$-208,835▼ $15,205
Total Net Assets Fund Balance$-193,630$-208,835▼ $15,205
Total Liabilities and Net Assets / Fund Balance$63,667$2,258▼ $61,409
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Steven HaleyPresident
Anne Marie DurkotDirector
Costa SideridisDirector
Daniel PontonDirector
David SilbersweigDirector
Diane ColettiDirector
E Antonio ChioccaDirector
Joseph R MadsenDirector
Kathleen P HaleyDirector
Michael GradyDirector
Siobhan Shield QuinnDirector
Steven HaleyDirector
Suzanne DevittDirector
Tina PoussaintDirector
Lynsey CozensClerk
Susan AharonianTreasurer
Kathleen P HaleyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$27,103
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$27,103
Change in Net Assets
$-15,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,309
Total Fundraising Expense$20,303
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$3,577$7,241$8,167$18,985
Office Expenses$2,108$3,094$2,527$7,729
Information Technology$2,371$744$3,863$6,978
Occupancy-$1,725$5,174$6,899
Other Expenses$573$573$572$1,718
Total Functional Expenses$8,629$13,377$20,303$42,309
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$54,421
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Steven haley kathleen haley president director husband and wife susan aharonian steven haley treasurer president sister and brother diane coletti steven haley director president sister and brother”

Form 990, Page 6, Part VI, Line 11B

“The president provides a draft of the 990 to the board.”

Form 990, Page 6, Part VI, Line 19

“All documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Brain Science Foundation Inc
EIN
27-1071028
Phone
6177632717
Address
PO BOX 812701, WELLESLEY, MA 02482

Signing Officer

Name
Kathleen P Haley
Title
Vice President
Phone
7812392903
Signed
2018-12-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Haley
Formed
2009
Legal Domicile
Ma
Voting Board Members
14
Independent Board Members
12
Employees
0

Preparer

Firm
Lee Yee & Company Pc
Address
20 SOUTHWEST PARK, WESTWOOD, MA 02090-1548
Preparer
Gary F Yee
Phone
7812372525
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Dedicated to finding a cure for meningioma and other primary brain tumors and to advancing the understanding of brain function as it relates to these tumors. The brain science foundation, inc. Supports basic and clinical research, promising new treatment and scientific and educational purposes in the brain science.”

Form 990, Part III

“As shown in the accompanying financial statements, the organization incurred a decrease in net assets of 15,206 during the year-end september 30, 2018, and as of that date, the organization's current liabilities exceeded its current assets by 208,835. These factors, as well as the uncertain conditions of significant reductions in grant revenue and fundraising creates a substantial doubt about the organizations ability to continue as a going concern. The organization's grants payable in the amount of 149,354 are pledges to brigham and women's hospital that may not be fulfilled. A portion of the donations received by the organization are now being directed to the national brain tumor society.”

Form 990, Page 2, Part III, Line 3

“REFER TO SCHEDULE O”

Raw XML Appendix381 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEDICATED TO FINDING A CURE FOR MENINGIOMA AND OTHER PRIMARY BRAIN TUMORS AND TO ADVANCING THE UNDERSTANDING OF BRAIN FUNCTION AS IT RELATES TO THESE TUMORS. THE BRAIN SCIENCE FOUNDATION, INC. SUPPORTS BASIC AND CLINICAL RESEARCH, PROMISING NEW TREATMENT AND SCIENTIFIC AND EDUCATIONAL PURPOSES IN THE BRAIN SCIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AS SHOWN IN THE ACCOMPANYING FINANCIAL STATEMENTS, THE ORGANIZATION INCURRED A DECREASE IN NET ASSETS OF 15,206 DURING THE YEAR-END SEPTEMBER 30, 2018, AND AS OF THAT DATE, THE ORGANIZATION'S CURRENT LIABILITIES EXCEEDED ITS CURRENT ASSETS BY 208,835. THESE FACTORS, AS WELL AS THE UNCERTAIN CONDITIONS OF SIGNIFICANT REDUCTIONS IN GRANT REVENUE AND FUNDRAISING CREATES A SUBSTANTIAL DOUBT ABOUT THE ORGANIZATIONS ABILITY TO CONTINUE AS A GOING CONCERN. THE ORGANIZATION'S GRANTS PAYABLE IN THE AMOUNT OF 149,354 ARE PLEDGES TO BRIGHAM AND WOMEN'S HOSPITAL THAT MAY NOT BE FULFILLED. A PORTION OF THE DONATIONS RECEIVED BY THE ORGANIZATION ARE NOW BEING DIRECTED TO THE NATIONAL BRAIN TUMOR SOCIETY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REFER TO SCHEDULE O
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3STEVEN HALEY KATHLEEN HALEY PRESIDENT DIRECTOR HUSBAND AND WIFE SUSAN AHARONIAN STEVEN HALEY TREASURER PRESIDENT SISTER AND BROTHER DIANE COLETTI STEVEN HALEY DIRECTOR PRESIDENT SISTER AND BROTHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PRESIDENT PROVIDES A DRAFT OF THE 990 TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,258
Liabilities
$211,093
Net assets
-$208,835
Revenue
$27,103
Expenses
$42,309
Net income
-$15,206
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$0.01$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.01$0.01$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.01$0.01$0.03$0.01$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.02$0.02$0.03$0.01$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.19$0.18$0.05$0.02$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.21$0.21$0.03$0.04$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.26$0.19$0.22$0.28$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.46$0.43$0.04$0.08$0.13$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.91$0.08$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.78$1.76$0.02$2.24
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.29$0.19$0.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.27$0.18$0.50