Civic Intelligence

Brain Research Foundation

990 • Fiscal year 2019 • EIN 36-2477928

Jul 01, 2018 to Jun 30, 2019 • Filed on May 08, 2020

Organization ProfileWWW.THEBRF.ORG

View Organization Page

111 W Washington St No 1460Chicago, IL 60602

(312) 759-5160

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.03x

Higher debt load relative to assets than 22% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.29x

Higher debt load relative to revenue than 57% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

43rd percentile

1.4%

Higher net margin than 43% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

75th percentile

$277,169

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 15.4% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

60th percentile

6.6%

Faster asset growth than 60% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

14th percentile

-19%

Faster revenue growth than 14% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Up

$17,872,481

Up $1,112,858 (+6.6%) from 2018

Net Assets

Up

$17,347,004

Up $1,086,047 (+6.7%) from 2018

Liabilities

Up

$525,477

Up $26,811 (+5.4%) from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin43rd percentile

Revenue

Down

$1,798,957

Down $422,666 (-19%) from 2018

Expenses

Down

$1,774,513

Down $122,506 (-6.5%) from 2018

Net Income

Down

$24,444

Down $300,160 (-92%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$30M$20M$10M$0Assets 2010: $11,155,855Liabilities 2010: $122,587Net Assets 2010: $11,033,2682010Assets 2012: $14,008,799Liabilities 2012: $90,389Net Assets 2012: $13,918,4102012Assets 2013: $15,207,398Liabilities 2013: $206,127Net Assets 2013: $15,001,2712013Assets 2014: $16,922,721Liabilities 2014: $298,199Net Assets 2014: $16,624,5222014Assets 2015: $16,790,452Liabilities 2015: $799,091Net Assets 2015: $15,991,3612015Assets 2016: $14,708,537Liabilities 2016: $929,267Net Assets 2016: $13,779,2702016Assets 2017: $15,469,912Liabilities 2017: $658,502Net Assets 2017: $14,811,4102017Assets 2018: $16,759,623Liabilities 2018: $498,666Net Assets 2018: $16,260,9572018Assets 2019: $17,872,481Liabilities 2019: $525,477Net Assets 2019: $17,347,0042019Assets 2020: $19,333,418Liabilities 2020: $585,280Net Assets 2020: $18,748,1382020Assets 2021: $24,853,249Liabilities 2021: $764,590Net Assets 2021: $24,088,6592021Assets 2022: $19,014,948Liabilities 2022: $763,479Net Assets 2022: $18,251,4692022Assets 2023: $20,276,479Liabilities 2023: $1,087,171Net Assets 2023: $19,189,3082023Assets 2024: $22,285,786Liabilities 2024: $1,122,460Net Assets 2024: $21,163,3262024

Highlighted filing

2019

Assets$17,872,481
Liabilities$525,477
Net Assets$17,347,004
Open 2019 Filing

Operations Trend

Revenue Growth14th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,211,4112010Expenses 2012: $1,553,8262012Expenses 2013: $1,756,8692013Revenue 2014: $2,842,895Expenses 2014: $2,348,618Net Income 2014: $494,2772014Revenue 2015: $2,721,442Expenses 2015: $2,538,431Net Income 2015: $183,0112015Revenue 2016: $1,589,039Expenses 2016: $2,782,060Net Income 2016: -$1,193,0212016Revenue 2017: $2,291,786Expenses 2017: $2,056,920Net Income 2017: $234,8662017Revenue 2018: $2,221,623Expenses 2018: $1,897,019Net Income 2018: $324,6042018Revenue 2019: $1,798,957Expenses 2019: $1,774,513Net Income 2019: $24,4442019Revenue 2020: $1,900,552Expenses 2020: $2,083,234Net Income 2020: -$182,6822020Revenue 2021: $4,721,537Expenses 2021: $2,665,507Net Income 2021: $2,056,0302021Revenue 2022: $2,489,419Expenses 2022: $2,955,646Net Income 2022: -$466,2272022Revenue 2023: $2,276,483Expenses 2023: $2,679,274Net Income 2023: -$402,7912023Revenue 2024: $3,977,449Expenses 2024: $3,105,586Net Income 2024: $871,8632024

Highlighted filing

2019

Revenue$1,798,957
Expenses$1,774,513
Net Income$24,444
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 8, 2020
Return Version
2018v3.1
Gross Receipts
$10,975,159
Mission and Program Overview

Mission

The foundation is committed to supporting neuroscience research that leads to advances in understanding of brain function and treatment of brain-related disorders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$16,514,211$17,445,821▲ $931,610
Savings and Temporary Cash Investments$98,217$214,946▲ $116,729
Pledges and Grants Receivable$91,145$132,000▲ $40,855
Cash and Non-Interest-Bearing Accounts$40,965$54,682▲ $13,717
Prepaid Expenses and Deferred Charges$3,000$15,800▲ $12,800
Land, Buildings, and Equipment, Net$6,885$4,032▼ $2,853
Total Assets$16,759,623$17,872,481▲ $1,112,858
Other Assets Total$5,200$5,200→ $0
Liabilities
Grants Payable$430,000$470,000▲ $40,000
Accounts Payable and Accrued Expenses$41,123$33,771▼ $7,352
Other Liabilities$27,543$21,706▼ $5,837
Total Liabilities$498,666$525,477▲ $26,811
Net Assets / Fund Balance
Unrestricted Net Assets$14,244,675$15,380,680▲ $1,136,005
Permanently Rstr Net Assets$1,500,000$1,500,000→ $0
Temporarily Rstr Net Assets$516,282$466,324▼ $49,958
Total Net Assets Fund Balance$16,260,957$17,347,004▲ $1,086,047
Total Liabilities and Net Assets / Fund Balance$16,759,623$17,872,481▲ $1,112,858

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,217$70,490$72,707
Other Land Buildings$1,620$51,514$53,134
Leasehold Improvements$195$6,205$6,400

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$1,717,404-▲ $130,313-$1,738,096
2017$1,591,174-▲ $238,683-$1,717,404
2016$1,511,053-▲ $188,144-$1,591,174
2015$1,802,648-▼ $73,591-$1,511,053
2014$1,909,329-▲ $97,096-$1,802,648
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Terre ConstantineExecutive Director/CEOFT$207,041$70,128$277,169
Sandra JaggiDirector of PhilanthropyFT$103,453$28,716$132,169

Board Members and Trustees

NameTitle
Peter PondChairman
Norman BobinsVice Chairman
Bennett Leventhal MdTrustee
C Brant AhrensTrustee
Daniel ShapiroTrustee
David PurcellTrustee
Diane JastrombTrustee
Douglas WalterTrustee
Marshall FrontTrustee
Nathan HansenTrustee
Richard ChaifetzTrustee
Richard KohnTrustee
Robert Malenka Md PhdTrustee
Scott SerotaTrustee
Thomas Reynolds IiiTrustee
Wilber GantzTrustee
David OlsonSecretary
David FishburnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,685,457
Program Service Revenue
$0
Investment Income
$214,433
Other Revenue
$-100,933
All Other Contributions
$878,086
Change in Net Assets
$24,444

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded361$27,620Fair Market Value
Total Noncash Contributions361$27,620-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,704,967
Revenue Not Reported on Financial Statements
$93,990
Revenue Not Reported on Form 990
$1,061,603
Total Revenue per Audited Statements
$2,766,570
Total Revenue per Form 990
$1,798,957
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,022,779
Salaries, Compensation, and Employee Benefits$459,097
Other Expenses$292,637
Total Fundraising Expense$166,533
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$1,022,779--$1,022,779
Current Officers, Directors, Trustees, and Key Employees$153,079$48,285$75,805$277,169
Other Salaries and Wages$71,905$22,676$35,607$130,188
Fees for Service Investment Mgmnt Fees-$93,990-$93,990
Occupancy$26,903$8,486$13,323$48,712
Other Employee Benefits$17,140$5,407$8,487$31,034
Fees for Services Accounting$16,128$5,086$7,986$29,200
Fees for Services Other$26,691--$26,691
Office Expenses$11,315$3,568$5,603$20,486
Payroll Taxes$11,104$3,503$5,498$20,105
Advertising$6,350$2,003$3,145$11,498
Information Technology$4,327$1,364$2,143$7,834
Insurance$3,607$1,138$1,787$6,532
Conferences and Meetings-$5,316-$5,316
Depreciation Depletion$1,576$497$780$2,853
Travel-$2,362-$2,362
Other Expenses$452$143$224$819
Pension Plan Contributions$332$105$164$601
Total Functional Expenses$1,400,389$207,591$166,533$1,774,513

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,774,513
Expenses per Audited Statements$1,680,523
Total Expenses per Audited Statements$1,680,523
Expenses Not Reported on Financial Statements$93,990
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$142,643
Fundraising Gross Income$41,710
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Benefit$764,522$32,550$69,227$-36,677
Young Leadership Event$83,359$9,160$872$8,288
Total Events$849,081$41,710$142,643$-100,933
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent Expense$21,706
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
Yes
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, Part VI, Section A, Line 2

“Board member norm bobins and c. Brant ahrens both work for the same non-related company and share a business relationship.”

Form 990, Part VI, Section B, Line 11B

“The board retains the services of an independent cpa firm to prepare the organization's form 990. Management reviews the completed form 990 and provides a full copy to all voting members of the governing body prior to filing. The governing body is provided a reasonable amount of time to review the return and ask any questions directly to organization or the contact at the independent cpa firm prior to filing.”

Form 990, Part VI, Section B, Line 12C

“All officers are required to disclose any conflict of interest to the board of trustees, according to the by-laws of the organization, which also allow for the removal of an officer if it is in the best interest of the foundation.”

Form 990, Part VI, Section B, Line 15

“The executive committee of the board of trustees determines and votes on compensation for the executive director and all other employees of the brain research foundation. A special meeting of the executive committee was held to review compensation data provided by the "2016 charity navigator ceo compensation study" to determine the salary for the executive director.”

Form 990, Part VI, Section C, Line 19

“Governing documents and financial statements are available through applicable governmental agencies; the conflict of interest policy is available upon written request to the organization.”

Filing and Contact Details

Filer

Filer Name
Brain Research Foundation
EIN
36-2477928
Phone
3127595160
Address
111 W WASHINGTON ST NO 1460, CHICAGO, IL 60602

Signing Officer

Name
Terre a Constantine
Title
Executive Director/CEO
Phone
3127595160
Signed
2020-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terre a Constantine
Formed
1953
Legal Domicile
Il
Voting Board Members
17
Independent Board Members
17
Employees
3
Volunteers
33

Preparer

Firm
Plante & Moran Pllc
Address
10 S RIVERSIDE PLAZA 9TH FLOOR, CHICAGO, IL 60606
Preparer
Lu Ann Trapp
Phone
3122071040
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“Endowment funds maintained to provide a permanent source of income, with the stipulation that principal must be invested and kept intact in perpetuity, while only the income generated can be used by the organization.”

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IRS990/Desc0THE BRAIN RESEARCH FOUNDATION SUPPORTS PROFESSIONAL TRAINING, EDUCATION, AND RESEARCH BY PROVIDING START-UP MONEY FOR INNOVATIVE NEUROSCIENCE RESEARCH PROJECTS ACROSS THE BROAD SPECTRUM OF THESE ILLNESSES, INCLUDING BUT NOT LIMITED TO: ALS (LOU GEHRIG'S DISEASE), ALZHEIMER'S DISEASE, ATTENTION DEFICIT DISORDER, AUTISM, BIPOLAR DISORDER, DEPRESSION AND ANXIETY, EPILEPSY, HEAD INJURIES, PARKINSON'S DISEASE, SCHIZOPHRENIA, AND STROKE. ADVANCING SCIENCE IN THESE AREAS WILL HELP ALL HUMANS AFFLICTED WITH NEUROLOGICAL DISORDERS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18EXECUTIVE DIRECTOR/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR OF PHILANTHROPY
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IRS990/GrantsPayableGrp/EOYAmt0470000
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IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/GrossReceiptsAmt010975159
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IRS990/IndoorTanningServicesInd00
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IRS990/InformationTechnologyGrp/TotalAmt07834
IRS990/InsuranceGrp/FundraisingAmt01787
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IRS990/InsuranceGrp/ProgramServicesAmt03607
IRS990/InsuranceGrp/TotalAmt06532
IRS990/InvestmentIncomeGrp/ExclusionAmt0391096
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0391096
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IRS990/LobbyingActivitiesInd00
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
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IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrlzdGainsLossesInvstAmt01061603
IRS990/NoncashContributionsAmt027620
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt013323
IRS990/OccupancyGrp/ManagementAndGeneralAmt08486
IRS990/OccupancyGrp/ProgramServicesAmt026903
IRS990/OccupancyGrp/TotalAmt048712
IRS990/OfficeExpensesGrp/FundraisingAmt05603
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03568
IRS990/OfficeExpensesGrp/ProgramServicesAmt011315
IRS990/OfficeExpensesGrp/TotalAmt020486
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt05200
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt08487
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05407
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt017140
IRS990/OtherEmployeeBenefitsGrp/TotalAmt031034
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IRS990/OtherExpensesGrp/Desc1PUBLICATIONS
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3REPAIRS & MAINTENANCE
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IRS990/OtherExpensesGrp/FundraisingAmt13038
IRS990/OtherExpensesGrp/FundraisingAmt2224
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11787
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2143
IRS990/OtherExpensesGrp/ProgramServicesAmt015090
IRS990/OtherExpensesGrp/ProgramServicesAmt15943
IRS990/OtherExpensesGrp/ProgramServicesAmt25668
IRS990/OtherExpensesGrp/ProgramServicesAmt3452
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IRS990/OtherExpensesGrp/TotalAmt110761
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IRS990/PYTotalExpensesAmt01897019
IRS990/PYTotalProfFndrsngExpnsAmt00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,872,481
Liabilities
$525,477
Net assets
$17,347,004
Revenue
$1,798,957
Expenses
$1,774,513
Net income
$24,444
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$22.3$1.12$21.2$3.98$3.11$0.87
2023Detailed filing. Detailed filing data is available for this year.$20.3$1.09$19.2$2.28$2.68$0.40
2022Detailed filing. Detailed filing data is available for this year.$19.0$0.76$18.3$2.49$2.96$0.47
2021Detailed filing. Detailed filing data is available for this year.$24.9$0.76$24.1$4.72$2.67$2.06
2020Detailed filing. Detailed filing data is available for this year.$19.3$0.59$18.7$1.90$2.08$0.18
2019Detailed filing. Detailed filing data is available for this year.$17.9$0.53$17.3$1.80$1.77$0.02
2018Detailed filing. Detailed filing data is available for this year.$16.8$0.50$16.3$2.22$1.90$0.32
2017Detailed filing. Detailed filing data is available for this year.$15.5$0.66$14.8$2.29$2.06$0.23
2016Detailed filing. Detailed filing data is available for this year.$14.7$0.93$13.8$1.59$2.78$1.19
2015Detailed filing. Detailed filing data is available for this year.$16.8$0.80$16.0$2.72$2.54$0.18
2014Detailed filing. Detailed filing data is available for this year.$16.9$0.30$16.6$2.84$2.35$0.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$0.21$15.0$1.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.0$0.09$13.9$1.55
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.2$0.12$11.0$1.21