Civic Intelligence

Sage Institute for Psychedelic Therapy

990 • Fiscal year 2023 • EIN 84-2480193

Sep 01, 2022 to Aug 31, 2023 • Filed on Jul 12, 2024

Organization Profilewww.alchemytherapy.org
444 34th StreetOakland, CA 94609

(510) 929-0222

Siviq Scores

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

Liabilities / Assets

87th percentile

0.50x

Higher debt load relative to assets than 87% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

77th percentile

0.21x

Higher debt load relative to revenue than 77% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

14th percentile

-23%

Higher net margin than 14% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

87th percentile

$101,594

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 15.2% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

45th percentile

1.7%

Faster asset growth than 45% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

31st percentile

-5.2%

Faster revenue growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Up

$272,819

Up $4,552 (+1.7%) from 2022

Net Assets

Down

$135,060

Down $105,751 (-44%) from 2022

Liabilities

Up

$137,759

Up $110,303 (+402%) from 2022

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin14th percentile

Revenue

Down

$667,909

Down $36,978 (-5.2%) from 2022

Expenses

Down

$823,660

Down $21,396 (-2.5%) from 2022

Net Income

Down

-$155,751

Down $15,582 (-11%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth45th percentile

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

2023

Assets$272,819
Liabilities$137,759
Net Assets$135,060
Open 2023 Filing

Operations Trend

Revenue Growth31st percentile

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

2023

Revenue$667,909
Expenses$823,660
Net Income-$155,751
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Jul 12, 2024
Return Version
2022v5.0
Gross Receipts
$667,909
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.

Alchemy Community Therapy Center 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$260,572$107,867▼ $152,705
Intangible Assets-$48,000-
Prepaid Expenses and Deferred Charges$4,262$8,293▲ $4,031
Accounts Receivable$833$5,073▲ $4,240
Savings and Temporary Cash Investments-$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-
Inventories for Sale or Use-$0-
Total Assets$268,267$272,819▲ $4,552
Other Assets Total$2,600$103,586▲ $100,986
Liabilities
Other Liabilities-$102,314-
Accounts Payable and Accrued Expenses$27,456$35,445▲ $7,989
Total Liabilities$27,456$137,759▲ $110,303
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$240,811$135,060▼ $105,751
Total Net Assets Fund Balance$240,811$135,060▼ $105,751
Total Liabilities and Net Assets / Fund Balance$268,267$272,819▲ $4,552

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,700--
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Deidra SomervilleExecutive DirectorFT$97,094$4,500$101,594

Board Members and Trustees

NameTitle
Gregory KearnsChairman
Barine MajewskaDirector
Charlie BathgateDirector
Dr Sylver QuevedoDirector
Hannah McClaneDirector
Ismael AliDirector
Jesse HudsonDirector
Rae St ArnaultDirector
Jesse HudsonSecretary
Mark GrantTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$115,615
Program Service Revenue
$551,254
Investment Income
$0
Other Revenue
$1,040
All Other Contributions
$115,615
Change in Net Assets
$-155,751

Audited Revenue Reconciliation

Revenue per Audited Statements
$667,909
Revenue Not Reported on Form 990
$52,456
Total Revenue per Audited Statements
$720,365
Total Revenue per Form 990
$667,909
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$588,767
Other Expenses$234,893
Total Fundraising Expense$56,527
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$407,541--$407,541
Current Officers, Directors, Trustees, and Key Employees$18,209$66,766$36,417$121,392
Fees for Services Other$83,190-$12,120$95,310
Occupancy$46,331$9,064$1,932$57,327
Payroll Taxes$37,029$5,806$3,170$46,005
Information Technology$14,236$1,176$10$15,422
Other Employee Benefits$10,004$2,475$1,350$13,829
Fees for Services Accounting-$12,986-$12,986
Depreciation Depletion$9,698$1,897$405$12,000
Insurance$6,548$1,281$273$8,102
Fees for Services Legal-$6,993-$6,993
Travel$2,136$418$89$2,643
Advertising$914--$914
Other Expenses$662$3,562$761$662
Total Functional Expenses$654,709$112,424$56,527$823,660

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$826,116
Expenses per Audited Statements$823,660
Total Expenses per Form 990$823,660
Expenses Not Reported on Form 990$2,456
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
lease liability$102,314
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
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
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 B, Line 11B

“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, Section B, Line 12C

“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, Section B, Line 15A

“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, Section B, Line 15B

“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, Section C, Line 19

“Alchemy Community Therapy Center provides copies of its 990 and governing documents upon request.”

Filing and Contact Details

Filer

Filer Name
Alchemy Community Therapy Center
EIN
84-2480193
Phone
5109290222
Address
444 34th Street, Oakland, CA 94609

Signing Officer

Name
Gregory Kearns
Title
Chairman
Signed
2024-07-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gregory Kearns
Formed
2019
Legal Domicile
CA
Voting Board Members
9
Independent Board Members
9
Employees
32
Volunteers
12

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. Alchemy Community Therapy Center has analyzed the tax position for the year ended August 31, 2023, 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, 2023, there were no such accruals for interest and/or penalties.”

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IRS990/OtherExpensesGrp/ProgramServicesAmt1662
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IRS990/PrincipalOfficerNm0Gregory Kearns
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IRS990/ProgramServiceRevenueGrp/Desc1KAT Training
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt140312
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt140312
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IRS990/PYOtherExpensesAmt0239999
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IRS990/PYTotalExpensesAmt0845056
IRS990/PYTotalRevenueAmt0704887
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IRS990/ReconcilationRevenueExpnssAmt0-155751
IRS990/RegularMonitoringEnfrcInd0true
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IRS990/RentalIncomeOrLossGrp/RealAmt01025
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IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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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. Alchemy Community Therapy Center has analyzed the tax position for the year ended August 31, 2023, 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, 2023, there were no such accruals for interest and/or penalties.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt0102314
IRS990ScheduleD/TotalRevenuePerForm990Amt0667909
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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/ExplanationTxt4Alchemy Community Therapy Center provides copies of its 990 and governing documents upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15b

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$272,819
Liabilities
$137,759
Net assets
$135,060
Revenue
$667,909
Expenses
$823,660
Net income
-$155,751
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.41$0.34$1.06$7.61$7.90$0.29
2023Detailed filing. Detailed filing data is available for this year.$2.73$1.38$1.35$6.68$8.24$1.56
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.68$0.27$2.41$7.05$8.45$1.40
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.72$0.91$3.81$8.27$4.94$3.33
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.00$0.48$1.43$1.08$0.34