Nonprofit · EIN 87-2435191
REASON FOR HOPE INC
Tax-exempt · NEW YORK, NY 10017
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,276,548 | $1,119,942 | $156,606 | $894,757 | $33,710 | $861,047 |
| December 31, 2023 | 990 | $1,178,392 | $902,685 | $275,707 | $710,799 | $6,358 | $704,441 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,260,680
- Program service revenue
- $0
- Investment income
- $15,868
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $190,000
- Compensation of officers, directors and key employees
- $583,672
- Salaries, compensation and benefits (total)
- $583,672
- Professional fundraising fees
- $0
- Travel
- $45,781
- Program services (functional)
- $1,023,840
- Management and general (functional)
- $46,409
- Fundraising (functional)
- $49,693
Balance sheet and other
- Total assets, start of year
- $710,799
- Total assets, end of year
- $894,757
- Total liabilities, end of year
- $33,710
- Net assets, end of year
- $861,047
- Gross unrelated business income
- $15,868
- Gross receipts
- $1,276,548
- Employees
- 3
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRETT M WATERS | EXECUTIVE DIRECTOR Officer | 70 | $250,000 |
| JESSE MACLACHLAN | DIRECTOR OF STATE POLICY Officer | 45 | $120,000 |
| MARTIN R STEELE | CHIEF EXECUTIVE OFFICER Officer | 20 | $120,000 |
| HALEY WATERS | DIRECTOR Trustee or director | 1 | $0 |
| JULIE WATERS | DIRECTOR Trustee or director | 1 | $0 |
| LYNETTE AVERILL PHD | DIRECTOR Officer | 1 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| BRETT M WATERS | EXECUTIVE DIRECTOR Officer | 70 | $250,000 |
| JESSE MACLACHLAN | DIRECTOR OF STATE POLICY Officer | 45 | $120,000 |
| MARTIN R STEELE | CHIEF EXECUTIVE OFFICER Officer | 20 | $120,000 |
| HALEY WATERS | DIRECTOR Trustee or director | 1 | $0 |
| JULIE WATERS | DIRECTOR Trustee or director | 1 | $0 |
| LYNETTE AVERILL PHD | DIRECTOR Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 235 E 49TH ST APT 10E, NEW YORK, NY 10017-1558
- In care of
- % BRETT WATERS
- Mailing address (990-N for 2021)
- 235 E 49th Street Apt 10E, New York NY 10017
- Principal officer (990 for 2024)
- BRETT WATERS
- Principal officer (990-N for 2021)
- Brett Waters, 235 E 49th Street Apt 10E, New York NY 10017
- Signed the 990
- BRETT WATERS, DIRECTOR
- Phone
- (215) 350-7186
- Website
- www.reason-for-hope.org
- Return prepared by
- BURRUANO & COMPANY LLP
Mission
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 MEDICINE AND ASSISTED THERAPIES.
Program accomplishments
- RESEARCH, POLICY, EDUCATION, AND ADVOCACY: PROGRAMS FOCUSED ON RESEARCH, POLICY DEVELOPMENT, AND EDUCATION INCLUDING SPEAKING ENGAGEMENTS DISCUSSING PUBLIC MENTAL HEALTH, SPECIFICALLY THE SUICIDE AND OVERDOSE CRISES, AND THE POTENTIAL BENEFITS OF PSYCHEDELIC-ASSISTED THERAPIES; ADVOCACY TO INCREASE PUBLIC FUNDING AND REDUCE REGULATORY BARRIERS FOR RESEARCH AND COMPASSIONATE USE.Expenses $833,840
- GRANT FUNDING: PROVIDES FUNDING TO VETERAN MENTAL HEALTH LEADERSHIP COALITION FOR EDUCATION OF VETERAN COMMUNITY ON PSYCHEDELIC AND OTHER EMERGING THERAPIES FOR VETERANS, COMMUNITY ORGANIZING AND EVENTS, CONSENSUS POLICY DEVELOPMENT, AND ADVOCACY.Expenses $190,000 · grants $190,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 87-2435191
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Mental health and crisis intervention (F01)
- Assets (IRS master file)
- $894,757
- Income (IRS master file)
- $1,276,548
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $1,178,392 | $902,685 | $710,799 | IRS |
| 990 | December 2022 | $550,954 | $122,220 | $444,306 | IRS |
| 990-N for 2021 Officer: Brett Waters | December 31, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about REASON FOR HOPE INC
- What is the EIN of REASON FOR HOPE INC?
- The employer identification number (EIN) of REASON FOR HOPE INC is 87-2435191.
- Is REASON FOR HOPE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to REASON FOR HOPE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does REASON FOR HOPE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of REASON FOR HOPE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did REASON FOR HOPE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of REASON FOR HOPE INC?
- The 990 for the year ended December 31, 2024 names BRETT WATERS.
- Who are the officers and directors of REASON FOR HOPE INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 3 received compensation from the organization, the highest $250,000 (BRETT M WATERS, EXECUTIVE DIRECTOR).
- How much revenue does REASON FOR HOPE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,276,548, expenses of $1,119,942 and total assets of $894,757 at year end.
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