The Ketamine Research Foundation
Nonprofit profile at a glance
- EIN
- 821206912
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-N 2018
- Location
- San Anselmo, CA, USA
- Phone
- 4155501700
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Research Institutes and/or Public Policy Analysis
Reported finances
- Revenue
- $674,218
- Expenses
- $641,403
- Assets
- $560,755
- Liabilities
- $1,964
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Philip E Wolfson MD (CEO)
Highest reported compensation
- Philip E Wolfson MD (CEO): $136,500 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 specific purpose of the corporation shall include, without limitation: to evolve and provide research, training, and education in the development of Ketamine's use for psychiatric and psychotheraputic science and clinical practice.
What it reported doing in 2024
Ketamine is the only legally available medicine with psychedelic therapeutic methodologies and practices that will serve as a model and development ground as other psychoactive medicines become available for clinical practice. This makes for streamlined and creative research, with appropriate safeguards with FDA and IRB approvals as appropriate.KRF's 2024 achievements were as follows: Completed Phantom Limb Protocol and submitted it to FDAin Review. IRB gave conditional approval based on FDA review Our Acute Trauma PTSD protocol was sent, taught and utilized in the Ukraine, Israel, North Carolina's disaster and elsewhere. KRF took leadership in dealing with trauma treatment worldwide and presented its protocol and is providing ongoing training KRF's protocol for Women's Wellbeing with the treatment of luteal face PMS and PMDD was submitted to FDA for an INDin review Setting Standards for Safe and Effective Ketamine Use-- KRF as the standard bearer for the use of ketamine clinicallyAnd for its safe use personally. KRF published major articles on KAP in academic journals, participated in numerous podcasts and programs, and had several journalistic pieces published.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 99% 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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 85
- Accountability: 90
- Sustainability: 45
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 89.3%; rating input score 89
- Program expense ratio: 93.9%; rating input score 94
- Fundraising efficiency: $20.56 raised per $1 spent on fundraising; rating input score 59; 59th percentile among comparable filings
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 4.9%; rating input score 50; 50th percentile among comparable filings
- Total-asset coverage ratio: 0.87; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 75; 75th percentile among comparable filings
- Officer compensation ratio: 21.3%; rating input score 13; 13th percentile among comparable filings
Growth
- Program expense growth: 8.9% per year; rating input score 100; 59th percentile among comparable filings
- Revenue growth: 2.7% per year; rating input score 100; 29th percentile among comparable filings
- Asset growth: 9.9% per year; rating input score 100; 58th percentile among comparable filings
Details
- Where the money goes: 89.3% of revenue deployed · 93.9% of spending went to programs
- Governance: 6 of 6 board members independent · 6 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $602K in reported program spending
- Leadership: top reported pay $136K · 7 people listed
- Consistency: 23 of 24 current checks pass · 1 finding to review
- Schedules: 4 filed schedules · includes major donors
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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.
- Review — Financial Efficiency: Fundraising efficiency scored 59/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Review — Sustainability: Operating margin scored 50/100.
- Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
- High — Sustainability: Officer compensation ratio scored 13/100.