Civic Intelligence

Reason for Hope Inc.

990 • Fiscal year 2023 • EIN 87-2435191

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileWWW.REASON-FOR-HOPE.ORG
235 E 49th Street 10ENew York, NY 10017

(215) 350-7186

Siviq Scores

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

Liabilities / Assets

21st percentile

0.01x

Higher debt load relative to assets than 21% of similar nonprofits.

2023 filings • NTEE F • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

16th percentile

0.01x

Higher debt load relative to revenue than 16% of similar nonprofits.

2023 filings • NTEE F • $1M-$5M nonprofits • Source year 2023

Net Margin

81st percentile

23%

Higher net margin than 81% of similar nonprofits.

2023 filings • NTEE F • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

93rd percentile

$250,000

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 21.2% of source-year revenue.

2023 filings • NTEE F • $1M-$5M nonprofits • Source year 2023

Asset Growth

86th percentile

60%

Faster asset growth than 86% of similar nonprofits.

2023 filings • NTEE F • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

94th percentile

114%

Faster revenue growth than 94% of similar nonprofits.

2023 filings • NTEE F • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$710,799

Up $266,493 (+60%) from 2022

Net Assets

Up

$704,441

Up $275,707 (+64%) from 2022

Liabilities

Down

$6,358

Down $9,214 (-59%) from 2022

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin81st percentile

Revenue

Up

$1,178,392

Up $627,438 (+114%) from 2022

Expenses

Up

$902,685

Up $780,465 (+639%) from 2022

Net Income

Down

$275,707

Down $153,027 (-36%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$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

2023

Assets$710,799
Liabilities$6,358
Net Assets$704,441
Open 2023 Filing

Operations Trend

Revenue Growth94th percentile

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$1,178,392
Expenses$902,685
Net Income$275,707
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$1,178,392
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, 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 and other emerging therapies for the treatment of various mental health conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$444,306$710,799▲ $266,493
Rtn Earn Endowment Incm Other Fnds$428,734$704,441▲ $275,707
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$444,306$710,799▲ $266,493
Liabilities
Other Liabilities$15,572$6,358▼ $9,214
Total Liabilities$15,572$6,358▼ $9,214
Net Assets / Fund Balance
Total Net Assets Fund Balance$428,734$704,441▲ $275,707
Total Liabilities and Net Assets / Fund Balance$444,306$710,799▲ $266,493
Compensation and Service Providers
Top Officer Pay93rd percentile

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
$1,178,392
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,178,392
Change in Net Assets
$275,707
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$516,274
Other Expenses$226,411
Grants and Similar Amounts Paid$160,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$516,274--$516,274
Grants to Domestic Orgs$160,000--$160,000
Fees for Services Other$131,310$931-$132,241
Travel$64,046--$64,046
Advertising$15,024--$15,024
Fees for Services Legal-$8,925-$8,925
Office Expenses-$2,340-$2,340
Insurance-$2,316-$2,316
Other Expenses-$41-$41
Total Functional Expenses$886,654$16,031$0$902,685
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Veteran Mental Health Leadersh Coalition IncNew York, NYC(19)Education$160,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$6,358
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 mmanagement 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
2024-11-15
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
4
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 931. Fundraising expenses 0. Total expenses 931. Meals: program service expenses 4,524. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,524. Social media expenses: program service expenses 126,786. Management and general expenses 0. Fundraising expenses 0. Total expenses 126,786.”

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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 MMANAGEMENT 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 931. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 931. MEALS: PROGRAM SERVICE EXPENSES 4,524. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,524. SOCIAL MEDIA EXPENSES: PROGRAM SERVICE EXPENSES 126,786. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 126,786.
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
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/InvolvedAmt0160000
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/TotalAssetsBOYAmt0444306
IRS990/TotalAssetsEOYAmt0710799
IRS990/TotalAssetsGrp/BOYAmt0444306
IRS990/TotalAssetsGrp/EOYAmt0710799
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt01178392
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016031
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0886654
IRS990/TotalFunctionalExpensesGrp/TotalAmt0902685
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt015572
IRS990/TotalLiabilitiesEOYAmt06358
IRS990/TotalLiabilitiesGrp/BOYAmt015572
IRS990/TotalLiabilitiesGrp/EOYAmt06358
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0428734
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0704441
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0886654
IRS990/TotalReportableCompFromOrgAmt0490000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01178392
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0444306
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0710799
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt064046
IRS990/TravelGrp/TotalAmt064046
IRS990/TrnsfrExmptNonChrtblRltdOrgInd01
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0HTTPS://WWW.REASON-FOR-HOPE.ORG/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRETT WATERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02153507186
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REASON FOR HOPE INC
ReturnHeader/Filer/BusinessNameControlTxt0REAS
ReturnHeader/Filer/EIN0872435191
ReturnHeader/Filer/PhoneNum02153507186
ReturnHeader/Filer/USAddress/AddressLine1Txt0235 E 49TH STREET 10E
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010017
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061138540
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURRUANO & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0200 BUSINESS PARK DRIVE - STE 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ARMONK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010504
ReturnHeader/PreparerPersonGrp/PhoneNum09142735300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAM BURRUANO CPA
ReturnHeader/ReturnTs02024-11-15T16:55:11-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$710,799
Liabilities
$6,358
Net assets
$704,441
Revenue
$1,178,392
Expenses
$902,685
Net income
$275,707
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.03$0.86$1.28$1.12$0.16
2023Detailed filing. Detailed filing data is available for this year.$0.71$0.01$0.70$1.18$0.90$0.28
2022Detailed filing. Detailed filing data is available for this year.$0.44$0.02$0.43$0.55$0.12$0.43