Perception Institute Inc.

990 • Fiscal year 2023 • EIN 88-0557075

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 24, 2024

Organization Profile www.perception.org

165 Court Street STE 199Brooklyn, NY 11201

(917) 633-5639

Siviq Scores

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

0.31x

Higher debt load relative to assets than 76% of similar nonprofits.

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

0.14x

Higher debt load relative to revenue than 63% of similar nonprofits.

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

-0.1%

Higher net margin than 36% of similar nonprofits.

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

$344,563

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

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

8.7%

Faster asset growth than 51% of similar nonprofits.

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

55%

Faster revenue growth than 83% of similar nonprofits.

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

Balance Sheet

Liabilities / Assets76th percentile

Assets

$1,047,365

Up $83,764 (+8.7%) from 2022

Net Assets

Down

$726,925

Down $1,288 (-0.2%) from 2022

Liabilities

$320,440

Up $85,052 (+36%) from 2022

Revenue And Expenses

Liabilities / Revenue63rd percentile Net Margin36th percentile

Revenue

$2,291,476

Up $813,586 (+55%) from 2022

Expenses

$2,292,764

Up $1,543,087 (+206%) from 2022

Net Income

Down

-$1,288

Down $729,501 (-100%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

Highlighted filing

2023

Assets$1,047,365

Liabilities$320,440

Net Assets$726,925

Open 2023 Filing

Operations Trend

Revenue Growth83rd percentile

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

Highlighted filing

2023

Revenue$2,291,476

Expenses$2,292,764

Net Income-$1,288

Open 2023 Filing

Jump To

Filing Snapshot

Filing Period: Jan 1, 2023 to Dec 31, 2023
Signed: Oct 24, 2024
Return Version: 2023v5.1
Gross Receipts: $2,291,476

Mission and Program Overview

Mission

Perception Institute creates real-world solutions from cutting-edge mind science research to reduce discrimination and other harms linked to race, gender, and other identity differences.

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Pledges and Grants Receivable	$150,000	$600,000	▲ $450,000
Cash and Non-Interest-Bearing Accounts	$581,581	$282,213	▼ $299,368
Accounts Receivable	$232,020	$149,161	▼ $82,859
Prepaid Expenses and Deferred Charges	-	$15,953	-
Total Assets	$963,601	$1,047,365	▲ $83,764
Other Assets Total	-	$38	-
Liabilities
Accounts Payable and Accrued Expenses	$235,388	$320,440	▲ $85,052
Total Liabilities	$235,388	$320,440	▲ $85,052
Net Assets / Fund Balance
Net Assets With Donor Restrictions	$429,167	$372,926	▼ $56,241
Net Assets Without Donor Restrictions	$299,046	$353,999	▲ $54,953
Total Net Assets Fund Balance	$728,213	$726,925	▼ $1,288
Total Liabilities and Net Assets / Fund Balance	$963,601	$1,047,365	▲ $83,764

Compensation and Service Providers

Top Officer Pay97th percentile

Employees

Name	Title	Full / Part Time	Base	Other	Total
Sadiqa Reynolds	Executive Director	FT	$320,000	$24,563	$344,563
Afue Valerie Addo	Chief Program Officer	FT	$155,000	$11,592	$166,592
Rachel D Godsil	Secretary	-	$125,000	-	$125,000
Michelle DePass	Treasurer	-	$7,950	-	$7,950

Board Members and Trustees

Name	Title
John Powell	Board Chair
Dushaw Hockett	Member

Highest Paid Contractors

Contractor	Services	Location	Compensation
Rachel Denise Godsil	Consulting Services	40 Dean Street 3B, Brooklyn, NY 11201	$125,000

Revenue and Support

Revenue Composition

Contributions and Grants: $1,134,262
Program Service Revenue: $1,134,794
Investment Income: $0
Other Revenue: $22,420
All Other Contributions: $1,134,262
Change in Net Assets: $-1,288

Audited Revenue Reconciliation

Revenue per Audited Statements: $2,291,476
Total Revenue per Audited Statements: $2,291,476
Total Revenue per Form 990: $2,291,476

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Salaries, Compensation, and Employee Benefits	$1,543,750
Other Expenses	$749,014
Total Fundraising Expense	$302,460
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Other Salaries and Wages	$744,813	$107,608	$158,521	$1,010,942
Fees for Services Other	$456,732	$14,276	$9,544	$480,552
Current Officers, Directors, Trustees, and Key Employees	$248,086	$34,456	$62,021	$344,563
Other Employee Benefits	$75,864	$10,537	$18,966	$105,367
Office Expenses	$65,288	$9,613	$15,296	$90,197
Payroll Taxes	$59,672	$8,288	$14,918	$82,878
Information Technology	$41,955	$10,245	-	$52,200
Travel	$23,715	$8,023	-	$31,738
Fees for Services Legal	$10,563	$17,750	-	$28,313
Fees for Services Accounting	-	$24,322	-	$24,322
Advertising	-	-	$21,655	$21,655
Insurance	$6,155	$855	$1,539	$8,549
Conferences and Meetings	$4,856	$2,292	-	$7,148
All Other Expenses	$291	$2,326	-	$2,617
Other Expenses	$1,688	$35	-	$1,723
Total Functional Expenses	$1,739,678	$250,626	$302,460	$2,292,764

Audited Expense Reconciliation

Line Item	Amount
Expenses per Audited Statements	$2,292,764
Total Expenses per Audited Statements	$2,292,764
Total Expenses per Form 990	$2,292,764

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
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

Liability	Amount
Federal income taxes	-

Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant: No
Annual disclosure for covered persons: Yes
Audit committee: 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: Yes
Other officer compensation reviewed: No
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 12C

“Each year, all members of the Board shall complete and sign a conflict of interest statement.”

Form 990, Part VI, Line 11B

“The return is reviewed by the Executive Director and Board Treasurer prior to filing.”

Form 990, Part VI, Line 15A

“The Executive Director compensation is approved by the Board of Directors each year.”

Form 990, Part VI, Section C, Line 18

“The Organizational documents and Form 990 are available upon written request.”

Filing and Contact Details

Filer

Filer Name: Perception Institute Inc
EIN: 88-0557075
Phone: 9176335639
Address: 165 Court Street STE 199, Brooklyn, NY 11201

Signing Officer

Name: Sadiqa Reynolds
Title: CEOExecutive Director
Phone: 9176335639
Signed: 2024-10-24
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Sadiqa Reynolds
Formed: 2021
Legal Domicile: Ny
Voting Board Members: 4
Independent Board Members: 4
Employees: 11
Volunteers: 4

Preparer

Firm: Outfitters4 Inc
Address: 717 Coliseum Dr NW, Winston Salem, NC 27106
Preparer: Brittany Emery
Phone: 8889299499

Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Project managers and consultants- Program 456,732 Management and General 14,276 Fundraising 9,544”

Financial Statement Notes

X 2

“The Organization is a nonprofit organization as described in Section 501c3 of the Internal Revenue Code and is exempt from federal and state income taxes. The Organization has adopted the provisions of the accounting pronouncement related to accounting for uncertainty in income taxes. The Organization recognized no interest or penalties in the statements of activities for the year ended December 31, 2023. If the situation arose in which the Organization would have interest to recognize it, it would recognize this as interest expense and penalties would be recognized in other expenses. Currently, the prior three years are open under federal and state statutes of limitations and remain subject to review and change. The Organization is not currently under audit nor has the Organization been contacted by these jurisdictions. Based on the evaluation of the Organizations tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended December 31, 2023.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/PYContributionsGrantsAmt	0	600265
IRS990/PYExcessBenefitTransInd	0	false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt	0	0
IRS990/PYOtherExpensesAmt	0	450901
IRS990/PYProgramServiceRevenueAmt	0	877625
IRS990/PYRevenuesLessExpensesAmt	0	728213
IRS990/PYSalariesCompEmpBnftPaidAmt	0	298776
IRS990/PYTotalExpensesAmt	0	749677
IRS990/PYTotalRevenueAmt	0	1477890
IRS990/QuidProQuoContributionsInd	0	false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd	0	false
IRS990/ReconcilationRevenueExpnssAmt	0	-1288
IRS990/RegularMonitoringEnfrcInd	0	true
IRS990/RelatedEntityInd	0	false
IRS990/RelatedOrganizationCtrlEntInd	0	false
IRS990/ReportInvestmentsOtherSecInd	0	false
IRS990/ReportLandBuildingEquipmentInd	0	false
IRS990/ReportOtherAssetsInd	0	false
IRS990/ReportOtherLiabilitiesInd	0	true
IRS990/ReportProgramRelatedInvstInd	0	false
IRS990/RevenueAmt	0	1134794
IRS990/RoyaltiesGrp/TotalAmt	0	0
IRS990ScheduleA/First5Years170Ind	0	X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt	0	1134262
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt	0	600265
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt	0	1734527
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt	0	1134794
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt	0	22240
IRS990ScheduleA/OtherIncome170Grp/TotalAmt	0	22240
IRS990ScheduleA/PublicOrganization170Ind	0	X
IRS990ScheduleA/PublicSupportCY170Pct	0	0.00000
IRS990ScheduleA/PublicSupportTotal170Amt	0	362568
IRS990ScheduleA/SubstantialContributorsTotAmt	0	1371959
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt	0	1134262
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt	0	600265
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt	0	1734527
IRS990ScheduleA/TotalSupportAmt	0	1756767
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode	0	RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt	0	RESTRICTED
IRS990/ScheduleBRequiredInd	0	true
IRS990ScheduleD/ExpensesSubtotalAmt	0	2292764
IRS990ScheduleD/FootnoteTextInd	0	X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd	0	false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc	0	Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc	0	Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc	1	Closely-held equity interests
IRS990ScheduleD/RevenueSubtotalAmt	0	2291476
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt	0	The Organization is a nonprofit organization as described in Section 501c3 of the Internal Revenue Code and is exempt from federal and state income taxes. The Organization has adopted the provisions of the accounting pronouncement related to accounting for uncertainty in income taxes. The Organization recognized no interest or penalties in the statements of activities for the year ended December 31, 2023. If the situation arose in which the Organization would have interest to recognize it, it would recognize this as interest expense and penalties would be recognized in other expenses. Currently, the prior three years are open under federal and state statutes of limitations and remain subject to review and change. The Organization is not currently under audit nor has the Organization been contacted by these jurisdictions. Based on the evaluation of the Organizations tax positions, management believes all positions taken would be upheld under an examination. Therefore, no provision for the effects of uncertain tax positions has been recorded for the year ended December 31, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc	0	X 2
IRS990ScheduleD/TotalExpensesPerForm990Amt	0	2292764
IRS990ScheduleD/TotalRevenuePerForm990Amt	0	2291476
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt	0	2291476
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt	0	2292764
IRS990/ScheduleJRequiredInd	0	false
IRS990/ScheduleORequiredInd	0	true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	Each year, all members of the Board shall complete and sign a conflict of interest statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	The return is reviewed by the Executive Director and Board Treasurer prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	The Executive Director compensation is approved by the Board of Directors each year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	The Organizational documents and Form 990 are available upon written request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	Project managers and consultants- Program 456,732 Management and General 14,276 Fundraising 9,544
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	Form 990, Part VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	Form 990, Part VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	Form 990, Part VI, Section C, Line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd	0	false
IRS990/SignificantChangeInd	0	false
IRS990/SignificantNewProgramSrvcInd	0	false
IRS990/SubjectToExcsTaxNetInvstIncInd	0	false
IRS990/SubjectToProxyTaxInd	0	false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd	0	false
IRS990/TaxablePartyNotificationInd	0	false
IRS990/TaxExemptBondsInd	0	false
IRS990/TerminateOperationsInd	0	false
IRS990/TotalAssetsBOYAmt	0	963601
IRS990/TotalAssetsEOYAmt	0	1047365
IRS990/TotalAssetsGrp/BOYAmt	0	963601
IRS990/TotalAssetsGrp/EOYAmt	0	1047365
IRS990/TotalCompGreaterThan150KInd	0	false
IRS990/TotalContributionsAmt	0	1134262
IRS990/TotalEmployeeCnt	0	11
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt	0	302460
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt	0	250626
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt	0	1739678
IRS990/TotalFunctionalExpensesGrp/TotalAmt	0	2292764
IRS990/TotalGrossUBIAmt	0	0
IRS990/TotalLiabilitiesBOYAmt	0	235388
IRS990/TotalLiabilitiesEOYAmt	0	320440
IRS990/TotalLiabilitiesGrp/BOYAmt	0	235388
IRS990/TotalLiabilitiesGrp/EOYAmt	0	320440
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt	0	728213
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt	0	726925
IRS990/TotalOtherCompensationAmt	0	36155
IRS990/TotalProgramServiceExpensesAmt	0	1739678
IRS990/TotalProgramServiceRevenueAmt	0	1134794
IRS990/TotalReportableCompFromOrgAmt	0	607950
IRS990/TotalRevenueGrp/ExclusionAmt	0	22420
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt	0	1134794
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt	0	2291476
IRS990/TotalVolunteersCnt	0	4
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt	0	963601
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt	0	1047365
IRS990/TravelGrp/ManagementAndGeneralAmt	0	8023
IRS990/TravelGrp/ProgramServicesAmt	0	23715
IRS990/TravelGrp/TotalAmt	0	31738
IRS990/TrnsfrExmptNonChrtblRltdOrgInd	0	false
IRS990/TypeOfOrganizationCorpInd	0	X
IRS990/UnrelatedBusIncmOverLimitInd	0	false
IRS990/UponRequestInd	0	X
IRS990/USAddress/AddressLine1Txt	0	165 Court Street STE 199
IRS990/USAddress/CityNm	0	Brooklyn
IRS990/USAddress/StateAbbreviationCd	0	NY
IRS990/USAddress/ZIPCd	0	11201
IRS990/VotingMembersGoverningBodyCnt	0	4
IRS990/VotingMembersIndependentCnt	0	4
IRS990/WebsiteAddressTxt	0	www.perception.org
IRS990/WhistleblowerPolicyInd	0	true
ReturnHeader/BuildTS	0	2024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	Sadiqa Reynolds
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	CEOExecutive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	9176335639
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2024-10-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	Perception Institute Inc
ReturnHeader/Filer/BusinessNameControlTxt	0	PERC
ReturnHeader/Filer/EIN	0	880557075
ReturnHeader/Filer/PhoneNum	0	9176335639
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	165 Court Street STE 199
ReturnHeader/Filer/USAddress/CityNm	0	Brooklyn
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	NY
ReturnHeader/Filer/USAddress/ZIPCd	0	11201
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	331037531
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	Outfitters4 Inc
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	717 Coliseum Dr NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	Winston Salem
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	27106
ReturnHeader/PreparerPersonGrp/PhoneNum	0	8889299499
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2024-10-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	Brittany Emery
ReturnHeader/ReturnTs	0	2024-11-01T11:39:55-00:00
ReturnHeader/ReturnTypeCd	0	990
ReturnHeader/TaxPeriodBeginDt	0	2023-01-01
ReturnHeader/TaxPeriodEndDt	0	2023-12-31
ReturnHeader/TaxYr	0	2023

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: $1,047,365
Liabilities: $320,440
Net assets: $726,925
Revenue: $2,291,476
Expenses: $2,292,764
Net income: -$1,288

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.	$0.43	$0.42	$0.02	$1.35	$2.06	$0.71
2023Detailed filing. Detailed filing data is available for this year.	$1.05	$0.32	$0.73	$2.29	$2.29	$0.00
2022Detailed filing. Detailed filing data is available for this year.	$0.96	$0.24	$0.73	$1.48	$0.75	$0.73