Civic Intelligence

Reason for Hope Inc

EIN 87-2435191 • 501(c)3 • New York, NY

Profile

Reason for hope, lnc.'s mission is to prevent deaths of despair by helping to develop and advocate for the policy and legal reforms needed to facilitate safe and affordable access to psychedelic medicine and assisted therapies.

235 E 49th Street 10ENew York, NY 10017

www.reason-for-hope.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

43rd percentile

0.04x

Higher debt load relative to assets than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

36th percentile

0.03x

Higher debt load relative to revenue than 36% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

88th percentile

42%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

85th percentile

52%

Faster revenue growth than 85% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Up

$894,757

Up $183,958 (+26%) from 2023

Liabilities

Up

$33,710

Up $27,352 (+430%) from 2023

Net Assets

Up

$861,047

Up $156,606 (+22%) from 2023

Revenue

Up

$1,276,548

Up $98,156 (+8.3%) from 2023

Expenses

Up

$1,119,942

Up $217,257 (+24%) from 2023

Net Income

Down

$156,606

Down $119,101 (-43%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0Assets 2022: $444,306Liabilities 2022: $15,572Net Assets 2022: $428,7342022Assets 2023: $710,799Liabilities 2023: $6,358Net Assets 2023: $704,4412023Assets 2024: $894,757Liabilities 2024: $33,710Net Assets 2024: $861,0472024

Highlighted filing

2024

Assets$894,757
Liabilities$33,710
Net Assets$861,047

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0Revenue 2022: $550,954Expenses 2022: $122,220Net Income 2022: $428,7342022Revenue 2023: $1,178,392Expenses 2023: $902,685Net Income 2023: $275,7072023Revenue 2024: $1,276,548Expenses 2024: $1,119,942Net Income 2024: $156,6062024

Highlighted filing

2024

Revenue$1,276,548
Expenses$1,119,942
Net Income$156,606

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$1,276,548
Mission and Program Overview

Mission

Reason for hope, lnc.'s mission is to prevent deaths of despair by helping to develop and advocate for the policy and legal reforms needed to facilitate safe and affordable access to psychedelic medicine and assisted therapies.

Reason for hope, inc.'s mission is to prevent deaths of despair by helping to develop and advocate for the policy and legal reforms needed to facilitate safe and affordable access to psychedelic and other emerging therapies for the treatment of various mental health conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$704,441$861,047▲ $156,606
Savings and Temporary Cash Investments-$615,868-
Cash and Non-Interest-Bearing Accounts$710,799$278,889▼ $431,910
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$710,799$894,757▲ $183,958
Liabilities
Accounts Payable and Accrued Expenses-$31,406-
Other Liabilities$6,358$2,304▼ $4,054
Total Liabilities$6,358$33,710▲ $27,352
Net Assets / Fund Balance
Total Net Assets Fund Balance$704,441$861,047▲ $156,606
Total Liabilities and Net Assets / Fund Balance$710,799$894,757▲ $183,958
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Brett M WatersExecutive DirectorFT$250,000$250,000
Jesse MaclachlanDirector of State PolicyFT$120,000$120,000
Martin R SteeleChief Executive OfficerPT$120,000$120,000

Board Members and Trustees

NameTitle
Haley WatersDirector
Julie WatersDirector
Lynette Averill PhdDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,260,680
Program Service Revenue
$0
Investment Income
$15,868
Other Revenue
$0
All Other Contributions
$1,260,680
Change in Net Assets
$156,606

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,260,680
Revenue Not Reported on Financial Statements
$15,868
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$15,868
Total Revenue per Audited Statements
$1,260,680
Total Revenue per Form 990
$1,276,548
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$583,672
Other Expenses$346,270
Grants and Similar Amounts Paid$190,000
Total Fundraising Expense$49,693
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$507,796$29,183$46,693$583,672
Fees for Services Other$280,263$12,554$3,000$295,817
Grants to Domestic Orgs$190,000--$190,000
Travel$45,781--$45,781
Office Expenses-$2,380-$2,380
Insurance-$566-$566
Other Expenses-$55-$55
Total Functional Expenses$1,023,840$46,409$49,693$1,119,942

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,119,942
Total Expenses per Audited Statements$1,119,942
Total Expenses per Form 990$1,119,942
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Veteran Mental Health Leadersh Coalition IncNew York, NYC(19)Education & Advocacy$190,000
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$2,304
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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 A, Line 2

Brett waters and haley waters are married. Brett waters and julie waters are siblings.

Form 990, Part VI, Section A, Line 8B

Reason for hope, inc. Does not have separate committees.

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

A draft form 990 was distributed to board members for review prior to filing.

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

All officers, directors and key employees are required to sign an annual affirmation of compliance form with reason for hope, inc.'s conflict of interest policy.

Form 990, Part VI, Section B, Line 15

Reason for hope, inc. Used comparable salaries in similar industries to determine top management compensation.

Form 990, Part VI, Section C, Line 19

Reason for hope, inc. Makes its governing documents, conflict of interest policy, and financial statements available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Reason for Hope Inc
EIN
87-2435191
Phone
2153507186
Address
235 E 49TH STREET 10E, NEW YORK, NY 10017

Signing Officer

Name
Brett Waters
Title
Director
Phone
2153507186
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Waters
Formed
2021
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
2
Employees
3
Volunteers
0

Preparer

Firm
Burruano & Company Llp
Address
200 BUSINESS PARK DRIVE - STE 106, ARMONK, NY 10504
Preparer
Sam Burruano CPA
Phone
9142735300
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Membership & subscriptons: program service expenses 0. Management and general expenses 1,554. Fundraising expenses 0. Total expenses 1,554. Policy research and advocacy: program service expenses 280,263. Management and general expenses 11,000. Fundraising expenses 3,000. Total expenses 294,263.

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

INTEREST INCOME 15,868.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INTEREST INCOME 15,868.
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IRS990ScheduleI/RecipientTable/USAddress/CityNm0NEW YORK
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NY
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd010017
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0CASH
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0250000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRETT M WATERS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0250000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BRETT WATERS AND HALEY WATERS ARE MARRIED. BRETT WATERS AND JULIE WATERS ARE SIBLINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REASON FOR HOPE, INC. DOES NOT HAVE SEPARATE COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT FORM 990 WAS DISTRIBUTED TO BOARD MEMBERS FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED TO SIGN AN ANNUAL AFFIRMATION OF COMPLIANCE FORM WITH REASON FOR HOPE, INC.'S CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REASON FOR HOPE, INC. USED COMPARABLE SALARIES IN SIMILAR INDUSTRIES TO DETERMINE TOP MANAGEMENT COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5REASON FOR HOPE, INC. MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6MEMBERSHIP & SUBSCRIPTONS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,554. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,554. POLICY RESEARCH AND ADVOCACY: PROGRAM SERVICE EXPENSES 280,263. MANAGEMENT AND GENERAL EXPENSES 11,000. FUNDRAISING EXPENSES 3,000. TOTAL EXPENSES 294,263.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0VETERAN MENTAL HEALTH LEADERSHIP COALITION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0920694493
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0C(19)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0EDUCATION & ADVOCACY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt035 EAST 49TH STREET APT 10E
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd010017
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd01
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0190000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL PAYMENTS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0VETERAN MENTAL HEALTH LEADERSHIP COALITION INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0710799
IRS990/TotalAssetsEOYAmt0894757
IRS990/TotalAssetsGrp/BOYAmt0710799
IRS990/TotalAssetsGrp/EOYAmt0894757
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt01260680
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt049693
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046409
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01023840
IRS990/TotalFunctionalExpensesGrp/TotalAmt01119942
IRS990/TotalGrossUBIAmt015868
IRS990/TotalLiabilitiesBOYAmt06358
IRS990/TotalLiabilitiesEOYAmt033710
IRS990/TotalLiabilitiesGrp/BOYAmt06358
IRS990/TotalLiabilitiesGrp/EOYAmt033710
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0704441
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0861047
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01023840
IRS990/TotalReportableCompFromOrgAmt0490000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01276548
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt015868
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0710799
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0894757
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt045781
IRS990/TravelGrp/TotalAmt045781
IRS990/TrnsfrExmptNonChrtblRltdOrgInd01
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05

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