The Ketamine Research Foundation (EIN 821206912) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2017

Legal Domicile

Principal Officer

Philip E Wolfson MD

Phone

4155501700

Tax Period

2024-01-01 to 2024-12-31

The Ketamine Research Foundation, founded in 2017, is a small nonprofit in the Mental Health sector that reported $674K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $641K left a modest 5% surplus.

Mission

The Ketamine Research Foundation's mission is the development of Ketamine's use for psychiatric and psychotherapeutic science and clinical practice, research, education, and training.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $323,885

Program Service Revenue $349,322

Investment Income $227

Other Revenue $784

TOTAL REVENUE $674,218

Expense Breakdown

Grants Paid $5,750

Salaries & Benefits $136,500

Fundraising Expenses $15,750

Program Expenses $602,050

Other Expenses $499,153

TOTAL EXPENSES $641,403

Year-over-Year Comparison

	2024	2023	Change
Revenue	$674,218	$884,311	-0.2%
Expenses	$641,403	$958,705	-0.3%
Net Income	$32,815	$-74,394	-1.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$136,500

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Monica Winsor	Chair of the Board	2.00	Officer Director	$0	$0	$0
Ray Foote	Treasurer	1.00	Officer Director	$0	$0	$0
Daniel Schwartz	Secretary	1.00	Officer Director	$0	$0	$0
Michael Thatcher	Director	1.00	Director	$0	$0	$0
Bruce Richman	Director	1.00	Director	$0	$0	$0
Ethan Ruby	Director	1.00	Director	$0	$0	$0
Philip E Wolfson MD	CEO	20.00	Officer	$136,500	$0	$136,500

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$674,218	$641,403	$560,755	$32,815
2023	$884,311	$958,705	$527,941	$-74,394
2022	$888,575	$940,075	$609,263	$-51,500
2022	$888,575	$940,075	$609,263	$-51,500
2021	$1,007,451	$758,909	$651,871	$248,542
2020	$428,765	$303,687	$403,379	$125,078
2019	$776,889	$554,228	$278,301	$222,661

The Ketamine Research Foundation