Mind Research Institute Inc

Nonprofit profile at a glance

EIN
872002807
IRS 990 coverage
2021–2024
Forms available
Form 990 2024
Location
Irvine, CA, USA
Phone
9493458700
Rating
78
Verdict
SUPPORTED
Rating confidence
Standard
Sector
General Science

Official website

Reported finances

Revenue
$5,670,095
Expenses
$7,550,544
Assets
$2,891,166
Liabilities
$5,461,114

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • BRETT WOUDENBERG (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • BRETT WOUDENBERG (CHIEF EXECUTIVE OFFICER): $473,438 total reported compensation
  • GERI L COHEN (CHIEF FINANCIAL OFFICER): $304,063 total reported compensation
  • MARK BODNER (DIRECTOR): $151,077 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mind research institute, inc (mind) is a nonprofit tax-exempt organization which was incorporated in august 2021. The organization's mission is to ensure that all students are mathematically equipped to solve the world's most challenging problems through developing and deploying math instructional software and systems. A non-profit organization, mind also conducts basic neuroscientific, mathematics, and education research to improve math education and advance scientific understanding.

What it reported doing in 2024

Mind research institute, inc. Is a social impact organization specializing in education and neuroscience research, dedicated to ensuring that all students are mathematically equipped to solve the world's most challenging problems. At mind research institute, inc., we continue 27 years of engagement in trailblazing applied research in neuroscience, cognitive science, instructional design, implementation science, and program evaluation. Mind research institute, inc. Actively partners with visionary research partners including government, grant programs, university researchers, and social venture philanthropies. The findings and benefits are applicable to the edtech content market, including mind education's programs. We receive contributions from our various donors including foundations, corporations and individuals, and allocate the grants for districts, schools and home-schooling programs. Our education success, data, and product teams are fully dedicated to ensure our st math program's impact.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 91
  • Transparency & Controls: 71
  • Accountability: 80
  • Sustainability: 15
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.2%; rating input score 91
  • Fundraising efficiency: $11.39 raised per $1 spent on fundraising; rating input score 42; 42nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 81.8%; rating input score 82; 15th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -33.2%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.38; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 1.89; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 29.1% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 10.9% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: -12.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.2% of spending went to programs
  • Governance: 9 of 11 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.9M in reported program spending
  • Leadership: top reported pay $473K · 12 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $160K reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 6 filed schedules · includes major donors, executive pay, and related organizations
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
  • High — Sustainability: Operating margin scored 4/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.