Civic Intelligence

Mind First Foundation Inc DBA Radvac

990 • Fiscal year 2022 • EIN 46-1357012

Jan 01, 2022 to Dec 31, 2022 • Filed on May 30, 2024

204 2nd Ave 310Waltham, MA 02451

(401) 261-6365

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$2,989,973

Up $2,525,402 (+544%) from 2021

Net Assets

Up

$2,981,473

Up $2,519,402 (+545%) from 2021

Liabilities

Up

$8,500

Up $6,000 (+240%) from 2021

Revenue And Expenses

Revenue

Up

$2,915,778

Up $2,348,213 (+414%) from 2021

Expenses

Up

$326,657

Up $217,530 (+199%) from 2021

Net Income

Up

$2,589,121

Up $2,130,683 (+465%) from 2021

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2015: $53,847Liabilities 2015: $02015Assets 2016: $24,271Liabilities 2016: $02016Assets 2017: $16,703Liabilities 2017: $02017Assets 2018: $16,044Liabilities 2018: $02018Assets 2019: $11,970Liabilities 2019: $02019Assets 2020: $5,583Liabilities 2020: $02020Assets 2021: $464,571Liabilities 2021: $2,500Net Assets 2021: $462,0712021Assets 2022: $3,085,920Liabilities 2022: $0Net Assets 2022: $3,085,9202022Assets 2022: $2,989,973Liabilities 2022: $8,500Net Assets 2022: $2,981,4732022Assets 2023: $2,548,402Liabilities 2023: $4,729Net Assets 2023: $2,543,6732023Assets 2024: $2,025,140Liabilities 2024: $2,235Net Assets 2024: $2,022,9052024

Highlighted filing

2022

Assets$2,989,973
Liabilities$8,500
Net Assets$2,981,473

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2015: $81,175Expenses 2015: $27,714Net Income 2015: $53,4612015Revenue 2016: $0Expenses 2016: $29,576Net Income 2016: -$29,5762016Revenue 2017: $0Expenses 2017: $7,568Net Income 2017: -$7,5682017Revenue 2018: $0Expenses 2018: $659Net Income 2018: -$6592018Revenue 2019: $0Expenses 2019: $74Net Income 2019: -$742019Revenue 2020: $32,375Expenses 2020: $38,761Net Income 2020: -$6,3862020Revenue 2021: $567,565Expenses 2021: $109,127Net Income 2021: $458,4382021Revenue 2022: $2,946,833Expenses 2022: $325,484Net Income 2022: $2,621,3492022Revenue 2022: $2,915,778Expenses 2022: $326,657Net Income 2022: $2,589,1212022Revenue 2023: $51,988Expenses 2023: $489,788Net Income 2023: -$437,8002023Revenue 2024: $58,286Expenses 2024: $579,053Net Income 2024: -$520,7672024

Highlighted filing

2022

Revenue$2,915,778
Expenses$326,657
Net Income$2,589,121
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 30, 2024
Return Version
2022v5.0
Gross Receipts
$3,056,114
Mission and Program Overview

Mission

To communicate scientific information and conduct community outreach activities to increase public awareness of mental illness and dysfunction, and the resulting costs; (b) to obtain and distribute funds for sponsoring, collecting, and analyzing genomic, phenotypic, and other information to identify and understand biological determinants of mental illness and dysfunction; and (c) to fund, support, and conduct research into the scientific development of therapies to address these problems. This corporation is organized exclusively for charitable, scientific and education purposes as specified in section 501(c)(3) of the internal revenue code, including for such purposes, the making of distributions to organizations that qualify as exempt organizations under section 501(c)(3) of the internal revenue code, or the corresponding section of any future federal tax code.

Description of organization: to communicate scientific information and conduct community outreach activities to increase public awareness of critically important scientific issues related to the mind, and to research means for expanding the scope of rational and scientific responses to emerging challenges and civilizational threats, including emerging pathogens and pandemic risks.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$202,159$2,937,376▲ $2,735,217
Investments Program Related$243,729$39,598▼ $204,131
Pledges and Grants Receivable$18,683--
Land, Buildings, and Equipment, Net$0$12,999▲ $12,999
Total Assets$464,571$2,989,973▲ $2,525,402
Liabilities
Accounts Payable and Accrued Expenses$2,500$8,500▲ $6,000
Total Liabilities$2,500$8,500▲ $6,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$462,071$2,981,473▲ $2,519,402
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$462,071$2,981,473▲ $2,519,402
Total Liabilities and Net Assets / Fund Balance$464,571$2,989,973▲ $2,525,402

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,999$714$13,713
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Preston W Estep IiiPresidentFT$148,000$148,000
Alexand P HoekstraSecretaryFT$91,000$91,000
Brian DelaneyDirectorPT$44,000$44,000
Shelly EstepFinancial AdministratorPT$14,000$14,000

Board Members and Trustees

NameTitle
Ranjan AhujaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$2,945,715
Program Service Revenue
$0
Investment Income
$-29,937
Other Revenue
$0
All Other Contributions
$2,945,715
Change in Net Assets
$2,589,121

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Miscellaneous2$2,722,813Fair Market Value
Total Noncash Contributions2$2,722,813-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,915,778
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-69,719
Total Revenue per Audited Statements
$2,846,059
Total Revenue per Form 990
$2,915,778
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$313,323
Other Expenses$13,334
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$238,800$59,700-$298,500
Payroll Taxes$11,858$2,965-$14,823
Occupancy-$6,000-$6,000
Office Expenses$2,281$570-$2,851
Travel$871$218-$1,089
Depreciation Depletion-$714-$714
Other Expenses$139$33-$172
Total Functional Expenses$255,955$70,702$0$326,657

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$326,657
Total Expenses per Audited Statements$326,657
Total Expenses per Form 990$326,657
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Board reviews and approves the 990 and other public filings

Form 990, Part VI, Section C, Line 18

Irs database website and other 990 websites

Form 990, Part VI, Section C, Line 19

990s are available through the irs database website and other 990 websites

Filing and Contact Details

Filer

Filer Name
Mind First Foundation Inc
EIN
46-1357012
Phone
4012616365
Address
204 2ND AVE 310, WALTHAM, MA 02451
Doing Business As
Radvac

Signing Officer

Name
Preston Estep
Title
President
Phone
4012616365
Signed
2024-05-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Preston Estep
Formed
2012
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
0
Employees
4
Volunteers
0

Preparer

Firm
Morris & Morris Pc
Address
32 KEARNEY ROAD, NEEDHAM HEIGHTS, MA 02494
Phone
7814556900
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 1:

Accounting method was changed to accrual for ma form pc reporting purposes. The state of massachusetts requires an audited gaap basis financial statement to be attached to the form pc.

Form 990 Page 1 Item B - Amended Return

Explanation for amended return form 990 page 1 part i organization's revenue, expenses and net assets were changed to reflect the accrual method of accounting form 990 page 2 part iii line 4a organization's expenses and revenue relating to vaccine research were changed to reflect new amounts form 990 page 3 part iv line 12a and form 990 schedule d required information about the audited gaap basis financial statements was added to schedule d. Form 990 page 4 part iv line 29 and form 990 schedule m noncash contributions received by the organization that were previously excluded were added to schedule m. Form 990 page 4 part v line 1a the number reported in box 3 of the organization's 1096 was added and the number of w-2s was included form 990 page 6 part vi section a line 8a and 8b the answer to these questions were changed to yes. The organization documents all meetings regarding its governance. Form 990 page 6 part vi section c line 17 the organization is required to provide a copy of the form 990 to the state of massachusetts. Form 990 page 7 part vii section a the compensation reported was incorrect on the previously filed return form 990 page 9 part viii lines 1a-h, line 3, lines 7a-d and line 12 and columns a & b information on the statement of revenue was changed to include new previously excluded investment income. Form 990 page 10 part ix lines 1-25 columns a & b information on the statement of functional expense was changed to include new expense amounts form 990 page 11 part x lines 1-33 columns a & b information on the current and prior year balance sheet was changed to reflect the accrual method of accounting and other changes. Form 990 page 12 part xi lines 1-10 the reconciliation of net assets was changed to reflect the changes made throughout the rest of the return and unrealized gain/loss form 990 page 12 part xii lines 1, 2b, and 2c the accounting method was changed to accrual from cash, the organization underwent an audit and there is an audit committee who is responsible for oversignt of said audit. Form 990 schedule a part ii sections a & b contributions received and gross investment income were changed to reflect numbers included elsewhere on the return form 990 schedule j compensation was changed to reflect actual amounts

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD REVIEWS AND APPROVES THE 990 AND OTHER PUBLIC FILINGS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IRS DATABASE WEBSITE AND OTHER 990 WEBSITES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990S ARE AVAILABLE THROUGH THE IRS DATABASE WEBSITE AND OTHER 990 WEBSITES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACCOUNTING METHOD WAS CHANGED TO ACCRUAL FOR MA FORM PC REPORTING PURPOSES. THE STATE OF MASSACHUSETTS REQUIRES AN AUDITED GAAP BASIS FINANCIAL STATEMENT TO BE ATTACHED TO THE FORM PC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EXPLANATION FOR AMENDED RETURN FORM 990 PAGE 1 PART I ORGANIZATION'S REVENUE, EXPENSES AND NET ASSETS WERE CHANGED TO REFLECT THE ACCRUAL METHOD OF ACCOUNTING FORM 990 PAGE 2 PART III LINE 4A ORGANIZATION'S EXPENSES AND REVENUE RELATING TO VACCINE RESEARCH WERE CHANGED TO REFLECT NEW AMOUNTS FORM 990 PAGE 3 PART IV LINE 12A AND FORM 990 SCHEDULE D REQUIRED INFORMATION ABOUT THE AUDITED GAAP BASIS FINANCIAL STATEMENTS WAS ADDED TO SCHEDULE D. FORM 990 PAGE 4 PART IV LINE 29 AND FORM 990 SCHEDULE M NONCASH CONTRIBUTIONS RECEIVED BY THE ORGANIZATION THAT WERE PREVIOUSLY EXCLUDED WERE ADDED TO SCHEDULE M. FORM 990 PAGE 4 PART V LINE 1A THE NUMBER REPORTED IN BOX 3 OF THE ORGANIZATION'S 1096 WAS ADDED AND THE NUMBER OF W-2S WAS INCLUDED FORM 990 PAGE 6 PART VI SECTION A LINE 8A AND 8B THE ANSWER TO THESE QUESTIONS WERE CHANGED TO YES. THE ORGANIZATION DOCUMENTS ALL MEETINGS REGARDING ITS GOVERNANCE. FORM 990 PAGE 6 PART VI SECTION C LINE 17 THE ORGANIZATION IS REQUIRED TO PROVIDE A COPY OF THE FORM 990 TO THE STATE OF MASSACHUSETTS. FORM 990 PAGE 7 PART VII SECTION A THE COMPENSATION REPORTED WAS INCORRECT ON THE PREVIOUSLY FILED RETURN FORM 990 PAGE 9 PART VIII LINES 1A-H, LINE 3, LINES 7A-D AND LINE 12 AND COLUMNS A & B INFORMATION ON THE STATEMENT OF REVENUE WAS CHANGED TO INCLUDE NEW PREVIOUSLY EXCLUDED INVESTMENT INCOME. FORM 990 PAGE 10 PART IX LINES 1-25 COLUMNS A & B INFORMATION ON THE STATEMENT OF FUNCTIONAL EXPENSE WAS CHANGED TO INCLUDE NEW EXPENSE AMOUNTS FORM 990 PAGE 11 PART X LINES 1-33 COLUMNS A & B INFORMATION ON THE CURRENT AND PRIOR YEAR BALANCE SHEET WAS CHANGED TO REFLECT THE ACCRUAL METHOD OF ACCOUNTING AND OTHER CHANGES. FORM 990 PAGE 12 PART XI LINES 1-10 THE RECONCILIATION OF NET ASSETS WAS CHANGED TO REFLECT THE CHANGES MADE THROUGHOUT THE REST OF THE RETURN AND UNREALIZED GAIN/LOSS FORM 990 PAGE 12 PART XII LINES 1, 2B, AND 2C THE ACCOUNTING METHOD WAS CHANGED TO ACCRUAL FROM CASH, THE ORGANIZATION UNDERWENT AN AUDIT AND THERE IS AN AUDIT COMMITTEE WHO IS RESPONSIBLE FOR OVERSIGNT OF SAID AUDIT. FORM 990 SCHEDULE A PART II SECTIONS A & B CONTRIBUTIONS RECEIVED AND GROSS INVESTMENT INCOME WERE CHANGED TO REFLECT NUMBERS INCLUDED ELSEWHERE ON THE RETURN FORM 990 SCHEDULE J COMPENSATION WAS CHANGED TO REFLECT ACTUAL AMOUNTS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 1:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PAGE 1 ITEM B - AMENDED RETURN
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ReturnHeader/TaxPeriodBeginDt02022-01-01
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ReturnHeader/TaxYr02022

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