Civic Intelligence

Modern Minds

990 • Fiscal year 2022 • EIN 84-3549226

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 06, 2023

40 Calhoun Street 240Charleston, SC 29401

(843) 266-3880

Siviq Scores

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

Liabilities / Assets

71st percentile

0.23x

Higher debt load relative to assets than 71% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

24th percentile

-6.7%

Higher net margin than 24% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

90th percentile

$200,462

Higher top officer pay than 90% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

64th percentile

7.9%

Faster asset growth than 64% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

73rd percentile

29%

Faster revenue growth than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,075,556

Up $152,418 (+7.9%) from 2021

Net Assets

Down

$1,601,488

Down $272,320 (-15%) from 2021

Liabilities

Up

$474,068

Up $424,738 (+861%) from 2021

Revenue

Up

$4,080,370

Up $916,851 (+29%) from 2021

Expenses

Up

$4,352,690

Up $2,161,467 (+99%) from 2021

Net Income

Down

-$272,320

Down $1,244,616 (-128%) from 2021

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2020: $908,689Liabilities 2020: $91,210Net Assets 2020: $817,4792020Assets 2021: $1,923,138Liabilities 2021: $49,330Net Assets 2021: $1,873,8082021Assets 2022: $2,075,556Liabilities 2022: $474,068Net Assets 2022: $1,601,4882022Assets 2023: $2,640,398Liabilities 2023: $270,210Net Assets 2023: $2,370,1882023Assets 2024: $1,636,470Liabilities 2024: $193,092Net Assets 2024: $1,443,3782024

Highlighted filing

2022

Assets$2,075,556
Liabilities$474,068
Net Assets$1,601,488

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $2,360,165Expenses 2020: $1,959,097Net Income 2020: $401,0682020Revenue 2021: $3,163,519Expenses 2021: $2,191,223Net Income 2021: $972,2962021Revenue 2022: $4,080,370Expenses 2022: $4,352,690Net Income 2022: -$272,3202022Revenue 2023: $4,493,951Expenses 2023: $3,725,251Net Income 2023: $768,7002023Revenue 2024: $2,893,715Expenses 2024: $3,820,525Net Income 2024: -$926,8102024

Highlighted filing

2022

Revenue$4,080,370
Expenses$4,352,690
Net Income-$272,320
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 6, 2023
Return Version
2022v5.0
Gross Receipts
$4,082,155
Mission and Program Overview

Mission

Modern minds provides integrated and collaborative behavioral and mental health services to adults struggling with anxiety and depression, and more broadly individuals who are seeking growth in their personal and professional lives. The overarching aim of modern minds is to change the status quo of mental health care by eliminating stigma and barriers, while simultaneously helping clients connect with and utilize empirically sound, supplemental wellness resources to accelerate and sustain clinical outcomes and improve overall quality of life.

Modern minds is a mental health and wellbeing practice prioritizing therapy and whole-person health.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,873,808$1,601,488▼ $272,320
Intangible Assets$827,063$744,261▼ $82,802
Land, Buildings, and Equipment, Net$638,283$632,941▼ $5,342
Cash and Non-Interest-Bearing Accounts$391,404$594,380▲ $202,976
Accounts Receivable$29,610$70,259▲ $40,649
Prepaid Expenses and Deferred Charges$31,278$33,715▲ $2,437
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,923,138$2,075,556▲ $152,418
Other Assets Total$5,500$0▼ $5,500
Liabilities
Accounts Payable and Accrued Expenses$49,330$474,068▲ $424,738
Total Liabilities$49,330$474,068▲ $424,738
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,873,808$1,601,488▼ $272,320
Total Liabilities and Net Assets / Fund Balance$1,923,138$2,075,556▲ $152,418

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$257,194$377,063$634,257
Leasehold Improvements$375,747$77,691$453,438
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian DurbinDirector/Director of Prog. SyncFT$160,242$40,220$200,462

Board Members and Trustees

NameTitle
Benjamin NavarroChairperson
Dr David ColeVice-chairperson
Dr Lisa SaladinDirector
Dr Patrick CawleyDirector
Ford PerryDirector
Dr Anne Marie AlbanoExec. Dir./pres. (part-year)
Caroline BrownSecretary
Abigail KnabTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Musc Strategic VenturesEmployee Leasing169 ASHLEY AVENUE, Charleston, SC 29407$2,403,202
Kyricos & AssociatesConsulting Services60 RAYDON ROAD EXTENSION, York, ME 03909$240,400
Revenue and Support

Revenue Composition

Contributions and Grants
$3,470,250
Program Service Revenue
$610,802
Investment Income
$0
Other Revenue
$-682
All Other Contributions
$3,470,250
Change in Net Assets
$-272,320
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,724,165
Salaries, Compensation, and Employee Benefits$578,525
Grants and Similar Amounts Paid$50,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,826,354$879,851-$2,706,205
Other Salaries and Wages$266,397$47,011-$313,408
Occupancy$252,052$44,480-$296,532
Information Technology$172,114$30,373-$202,487
Current Officers, Directors, Trustees, and Key Employees$170,393$30,069-$200,462
Depreciation Depletion$71,750$88,251-$160,001
Advertising$126,222--$126,222
Office Expenses$44,740$7,895-$52,635
Grants to Domestic Orgs$50,000--$50,000
Payroll Taxes$29,678$5,237-$34,915
Fees for Services Accounting-$28,084-$28,084
Fees for Services Legal-$23,080-$23,080
Insurance$19,328$3,411-$22,739
Other Employee Benefits$17,733$3,129-$20,862
Travel$2,226$6,677-$8,903
Pension Plan Contributions$7,546$1,332-$8,878
Other Expenses$1,590$4,779-$6,369
Conferences and Meetings$6,323--$6,323
Total Functional Expenses$3,141,450$1,211,240$0$4,352,690
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Basic Projects FoundationMount Pleasant, SC501(c)(3)DREAMBOATS CAMPAIGN TO SUPPORT THE GREEN HEART PROJECT: EDUCATING STUDENTS ABOUT FOOD, HEALTH, AND SUSTAINABILITY THROUGH GARDENING PROJECTS AND URBAN FARMS$50,000
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
Annual disclosure for covered persons
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

The following officers and directors have business relationships: - benjamin navarro, ford perry, and abby knab (nonvoting officer) - dr. David cole, dr. Patrick cawley, and caroline brown (nonvoting officer) - dr. David cole and dr. Lisa saladin

Form 990, Part VI, Section A, Line 6

The organization was founded by two members - a private foundation and a south carolina nonprofit, nonstock corporation. Both founding members are recognized as tax-exempt organizations under section 501(c)(3).

Form 990, Part VI, Section A, Line 7A

The organization's two 501(c)(3) founding members had the power to appoint one or more members of the governing body as outlined in the organization's bylaws.

Form 990, Part VI, Section A, Line 7B

Certain actions enumerated in the organization's bylaws are subject to written consent of each of the two 501(c)(3) founding members. Such actions include governance decisions concerning: - any material change to the organization's purposes or mission; - the admission of additional members; - any changes to the governing documents that materially change the rights of the founding members

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

The form 990 is reviewed by the directors of programming and operations and a full copy is provided to the board of directors prior to filing.

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

The conflict of interest policy is monitored and enforced by having the policy reviewed and signed by board members on an annual basis. If a potential conflict arises during the year, the interested individual shall recuse himself/herself from all discussions and/or vote.

Form 990, Part VI, Section B, Line 15

The organization did not compensate any current officers or key employees.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and conflicts of interest policy available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Modern Minds
EIN
84-3549226
Phone
8432663880
Address
40 CALHOUN STREET 240, CHARLESTON, SC 29401

Signing Officer

Name
Abigail Knab
Title
Treasurer
Phone
8432663880
Signed
2023-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Abigail Knab
Formed
2019
Legal Domicile
Sc
Voting Board Members
6
Independent Board Members
5
Employees
13
Volunteers
10

Preparer

Firm
Rsm US Llp
Address
920 5TH AVENUE SUITE 2800, SEATTLE, WA 98104
Preparer
Sue Robison
Phone
2062814444
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contract labor - clinic: program service expenses 1,802,404. Management and general expenses 600,801. Fundraising expenses 0. Total expenses 2,403,205. Contract labor - instructors: program service expenses 3,505. Management and general expenses 0. Fundraising expenses 0. Total expenses 3,505. Consultants - clinical: program service expenses 20,445. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,445. Consultants - hr: program service expenses 0. Management and general expenses 18,900. Fundraising expenses 0. Total expenses 18,900. Consultants - strategy: program service expenses 0. Management and general expenses 251,650. Fundraising expenses 0. Total expenses 251,650. Consultants - it security: program service expenses 0. Management and general expenses 8,500. Fundraising expenses 0. Total expenses 8,500.

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IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO TREAT MENTAL HEALTH AND BUILD PSYCHOLOGICAL FLEXIBILITY; A RESILIENCE MINDSET THAT EMPOWERS PEOPLE TO COPE WITH, ACCEPT AND ADJUST TO LIFE'S EVERYDAY CHALLENGES.
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IRS990/OtherExpensesGrp/Desc0FURNITURE & EQUIPMENT
IRS990/OtherExpensesGrp/Desc1EVENTS & CLASSES
IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc3MEALS & ENTERTAINMENT
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IRS990/OtherExpensesGrp/TotalAmt214577
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05237
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IRS990/PayrollTaxesGrp/TotalAmt034915
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IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
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IRS990/PensionPlanContributionsGrp/TotalAmt08878
IRS990/PoliticalCampaignActyInd00
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt033715
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IRS990/ProgramServiceRevenueGrp/Desc0PATIENT THERAPY
IRS990/ProgramServiceRevenueGrp/Desc1RECOVERY SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2NUTRITION SERVICES
IRS990/ProgramServiceRevenueGrp/Desc3EVENTS & WORKSHOPS
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IRS990/ProgSrvcAccomActy2Grp/Desc0HEALTH AND WELLNESS CENTER: AS AN EXTENSION OF THE CLINIC, MODERN MINDS OPERATES A WELLNESS CENTER (JOURNEY WELLNESS LLC, DBA SYNCHRONICITY) FOR THE PURPOSE OF PROVIDING CLIENTS AND MEMBERS WITH ACCESS TO MENTAL HEALTH AND WELLNESS PRACTICES RECOMMENDED BY MENTAL HEALTH AND WELLNESS PROFESSIONALS. THE WELLNESS CENTER PROVIDES AMENITIES KNOWN TO BENEFIT PHYSICAL AND MENTAL HEALTH, MOVEMENT CLASSES, STRESS MANAGEMENT AND WELLNESS WORKSHOPS, AND NUTRITION CONSULTATION, AMONG OTHER SERVICES. MENTAL HEALTH AND WELLNESS PROFESSIONALS GUIDE THE OPERATION OF THE CENTER AND PROVIDE CLASSES AND TRAINING. THE WELLNESS CENTER OFFERS MONTHLY MEMBERSHIPS AT SEVERAL DIFFERENT LEVELS, WITH MONTHLY FEES LOW ENOUGH SO THAT A SIGNIFICANT SEGMENT OF THE COMMUNITY CAN AFFORD TO PARTICIPATE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0811880
IRS990/ProgSrvcAccomActy2Grp/GrantAmt050000
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0276304
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0632941
IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0DREAMBOATS CAMPAIGN TO SUPPORT THE GREEN HEART PROJECT: EDUCATING STUDENTS ABOUT FOOD, HEALTH, AND SUSTAINABILITY THROUGH GARDENING PROJECTS AND URBAN FARMS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BASIC PROJECTS FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0873057754
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0855 COLEMAN BLVD STE 101
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MOUNT PLEASANT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0SC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd029464
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0RECIPIENT ORGANIZATIONS AGREE TO GRANT PURPOSE AND INTENDED USE OF FUNDS IN WRITING PRIOR TO DISBURSEMENT AND PROVIDE REPORTS ON USE OF FUNDS AT LEAST ANNUALLY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRIAN DURBIN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR/DIR. OF PROG. SYNC
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING OFFICERS AND DIRECTORS HAVE BUSINESS RELATIONSHIPS: - BENJAMIN NAVARRO, FORD PERRY, AND ABBY KNAB (NONVOTING OFFICER) - DR. DAVID COLE, DR. PATRICK CAWLEY, AND CAROLINE BROWN (NONVOTING OFFICER) - DR. DAVID COLE AND DR. LISA SALADIN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WAS FOUNDED BY TWO MEMBERS - A PRIVATE FOUNDATION AND A SOUTH CAROLINA NONPROFIT, NONSTOCK CORPORATION. BOTH FOUNDING MEMBERS ARE RECOGNIZED AS TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S TWO 501(C)(3) FOUNDING MEMBERS HAD THE POWER TO APPOINT ONE OR MORE MEMBERS OF THE GOVERNING BODY AS OUTLINED IN THE ORGANIZATION'S BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CERTAIN ACTIONS ENUMERATED IN THE ORGANIZATION'S BYLAWS ARE SUBJECT TO WRITTEN CONSENT OF EACH OF THE TWO 501(C)(3) FOUNDING MEMBERS. SUCH ACTIONS INCLUDE GOVERNANCE DECISIONS CONCERNING: - ANY MATERIAL CHANGE TO THE ORGANIZATION'S PURPOSES OR MISSION; - THE ADMISSION OF ADDITIONAL MEMBERS; - ANY CHANGES TO THE GOVERNING DOCUMENTS THAT MATERIALLY CHANGE THE RIGHTS OF THE FOUNDING MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS REVIEWED BY THE DIRECTORS OF PROGRAMMING AND OPERATIONS AND A FULL COPY IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED BY HAVING THE POLICY REVIEWED AND SIGNED BY BOARD MEMBERS ON AN ANNUAL BASIS. IF A POTENTIAL CONFLICT ARISES DURING THE YEAR, THE INTERESTED INDIVIDUAL SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND/OR VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION DID NOT COMPENSATE ANY CURRENT OFFICERS OR KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICTS OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8CONTRACT LABOR - CLINIC: PROGRAM SERVICE EXPENSES 1,802,404. MANAGEMENT AND GENERAL EXPENSES 600,801. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,403,205. CONTRACT LABOR - INSTRUCTORS: PROGRAM SERVICE EXPENSES 3,505. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,505. CONSULTANTS - CLINICAL: PROGRAM SERVICE EXPENSES 20,445. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 20,445. CONSULTANTS - HR: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,900. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,900. CONSULTANTS - STRATEGY: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 251,650. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 251,650. CONSULTANTS - IT SECURITY: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,500.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6

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