Civic Intelligence

Sage Institute for Psychedelic Therapy

990 • Fiscal year 2021 • EIN 84-2480193

Sep 01, 2020 to Aug 31, 2021 • Filed on Apr 11, 2022

444 34th StreetOakland, CA 94609

(510) 939-1259

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.19x

Higher debt load relative to assets than 73% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

65th percentile

0.11x

Higher debt load relative to revenue than 65% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

81st percentile

40%

Higher net margin than 81% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

59th percentile

$27,000

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

99th percentile

876%

Faster asset growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

479%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$472,340

Up $423,936 (+876%) from 2020

Net Assets

Up

$380,980

Up $333,031 (+695%) from 2020

Liabilities

Up

$91,360

Up $90,905 (+19979%) from 2020

Revenue

Up

$826,637

Up $683,975 (+479%) from 2020

Expenses

Up

$493,606

Up $385,137 (+355%) from 2020

Net Income

Up

$333,031

Up $298,838 (+874%) from 2020

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2020: $48,404Liabilities 2020: $455Net Assets 2020: $47,9492020Assets 2021: $472,340Liabilities 2021: $91,360Net Assets 2021: $380,9802021Assets 2022: $268,267Liabilities 2022: $27,456Net Assets 2022: $240,8112022Assets 2023: $272,819Liabilities 2023: $137,759Net Assets 2023: $135,0602023Assets 2024: $140,848Liabilities 2024: $34,485Net Assets 2024: $106,3632024

Highlighted filing

2021

Assets$472,340
Liabilities$91,360
Net Assets$380,980

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2020: $142,662Expenses 2020: $108,469Net Income 2020: $34,1932020Revenue 2021: $826,637Expenses 2021: $493,606Net Income 2021: $333,0312021Revenue 2022: $704,887Expenses 2022: $845,056Net Income 2022: -$140,1692022Revenue 2023: $667,909Expenses 2023: $823,660Net Income 2023: -$155,7512023Revenue 2024: $761,012Expenses 2024: $789,709Net Income 2024: -$28,6972024

Highlighted filing

2021

Revenue$826,637
Expenses$493,606
Net Income$333,031
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Apr 11, 2022
Return Version
2020v4.0
Gross Receipts
$826,637
Mission and Program Overview

Mission

Sage Institute provides high-quality training, accesible psychedelic therapy, and innovative research, fostering effective and culturally-responsible mental health treatment for underserved communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$46,396$464,788▲ $418,392
Prepaid Expenses and Deferred Charges$408$4,952▲ $4,544
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$48,404$472,340▲ $423,936
Other Assets Total$1,600$2,600▲ $1,000
Liabilities
Accounts Payable and Accrued Expenses$455$91,360▲ $90,905
Total Liabilities$455$91,360▲ $90,905
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$47,949$380,980▲ $333,031
Total Net Assets Fund Balance$47,949$380,980▲ $333,031
Total Liabilities and Net Assets / Fund Balance$48,404$472,340▲ $423,936
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dr Genesee HerzbergExecutive DirectorPT$27,000$27,000
Irina AlexanderDirectorPT$12,677$12,677

Board Members and Trustees

NameTitle
Kat ConourChairman
Charlie BathgateDirector
Dr Sylver QuevedoDirector
Greg KearnsDirector
Ismael AliDirector
Jesse HudsonDirector
Sangeeta FernandesDirector
Heather ValdezSecretary
Mark GrantTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$497,351
Program Service Revenue
$329,286
Investment Income
$0
Other Revenue
$0
All Other Contributions
$497,351
Change in Net Assets
$333,031

Audited Revenue Reconciliation

Revenue per Audited Statements
$826,637
Total Revenue per Audited Statements
$826,637
Total Revenue per Form 990
$826,637
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$283,502
Other Expenses$146,844
Grants and Similar Amounts Paid$63,260
Total Fundraising Expense$28,117
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$216,662$3,967-$220,629
Fees for Services Other$36,859$22,670$21,516$81,045
Grants to Domestic Individuals$63,260--$63,260
Current Officers, Directors, Trustees, and Key Employees$24,640$5,280$5,280$35,200
Payroll Taxes$23,057$884$505$24,446
Occupancy$22,071$846$483$23,400
Insurance$8,288$318$182$8,788
Office Expenses$2,204$6,431-$8,635
Fees for Services Accounting-$7,469-$7,469
Other Employee Benefits$1,618$1,574$35$3,227
Information Technology$3,003$121$98$3,222
Fees for Services Legal-$1,858-$1,858
Other Expenses$830$528$18$528
Total Functional Expenses$413,396$52,093$28,117$493,606

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$493,606
Total Expenses per Audited Statements$493,606
Total Expenses per Form 990$493,606
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-secretary ownsservicesNo$22,800
-Exec.Dir. ownsrentNo$14,400

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
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, Line 11B: Form 990 Review Process

The Executive Director and the memebers of the Executive Committee of the Board of Directors will review the 990 before it is submitted.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

All board members sign the conflict of interest policy, and there is regular review of possible conflict of interest issues. There are two attorneys on the board to assist with policy compliance.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board reviews salaries, and compares to market rates for similar positions. Most employees are paid below market rates due to budgetary constraints.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The board reviews salaries, and compares to market rates for similar positions. Most employees are paid below market rates due to budgetary constraints.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Sage Institute provides copies of its 990 and governing documents upon request.

Filing and Contact Details

Filer

Filer Name
Sage Institute for Psychedelic Therapy
EIN
84-2480193
Phone
5109391259
Address
444 34th Street, Oakland, CA 94609

Signing Officer

Name
Kat Conour
Title
Chairman
Signed
2022-04-11
Discuss with paid preparer
Yes

Organization Details

Formed
2019
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
8
Employees
15
Volunteers
8

Preparer

Firm
Helen Nelson CPA
Address
14612 MAPLE RIDGE, HANCOCK, MD 21750
Preparer
Helen Nelson
Phone
3015000556
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Accounting principles generally accepted in the United States of America require the Organization to evaluate uncertain tax positions taken. The financial statement effect of a tax position is recognized when the tax position is more likely than not, based on technical merits, to be sustained upon examination by the IRS. Sage Institute has analyzed the tax position for the year ended August 31, 2021, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. The Organization is subject to routine audits by taxing authorities however there are currently no audits or any tax periods in progress. It is the Organizations policy to recognize interest and/or penalties related to uncertain tax positions. As of August 31, 2021, there were no such accruals for interest and/or penalties.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Accounting principles generally accepted in the United States of America require the Organization to evaluate uncertain tax positions taken. The financial statement effect of a tax position is recognized when the tax position is more likely than not, based on technical merits, to be sustained upon examination by the IRS. Sage Institute has analyzed the tax position for the year ended August 31, 2021, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. The Organization is subject to routine audits by taxing authorities however there are currently no audits or any tax periods in progress. It is the Organizations policy to recognize interest and/or penalties related to uncertain tax positions. As of August 31, 2021, there were no such accruals for interest and/or penalties.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalExpensesPerForm990Amt0493606
IRS990ScheduleD/TotalRevenuePerForm990Amt0826637
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt015
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Organization follows up with recipients and monitors use of grant funds.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0Sage Integrative Health
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1Heather Valdez LCSW Inc
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Exec.Dir. owns
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1secretary owns
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0rent
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1services
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0Sage Institute entered into a lease agreement in October 2020 with Sage Integrative Health, a company owned by the Executive Director. This was done only after consultation with a non-interested attorney concerning a possible conflict-of-interest and board discussions concerning legal compliance, and a study on rental market rates. Sage Institute subsequently terminated the agreement and relocated in July 2021. As of November 2021, the individual involved is no longer on the board nor in the position of Executive Director. A new Executive Director has been hired. During the fiscal year, Sage Institute used the services of the company owned by the Secretary of the board. The services were personally provided by the Secretarty. Subsequent to the close of the fiscal year, the Secretary stepped down from the board position and the services of the company she owned are no longer being used.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Executive Director and the memebers of the Executive Committee of the Board of Directors will review the 990 before it is submitted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1All board members sign the conflict of interest policy, and there is regular review of possible conflict of interest issues. There are two attorneys on the board to assist with policy compliance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board reviews salaries, and compares to market rates for similar positions. Most employees are paid below market rates due to budgetary constraints.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board reviews salaries, and compares to market rates for similar positions. Most employees are paid below market rates due to budgetary constraints.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Sage Institute provides copies of its 990 and governing documents upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false

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