Therapsych Therapeutic Fund

Nonprofit profile at a glance

EIN
883773471
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Colorado Springs, CO, USA
Phone
7196856473
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Mental Health Treatment F31 Psychiatric, Mental Health Hospital

Reported finances

Revenue
$542,388
Expenses
$55,026
Assets
$488,534
Liabilities
$0

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

Leadership & pay

9 people listed

People named in this filing

  • LANE BELONE (BOARD MEMBER)
  • SCOTT DEWALT (EXECUTIVE DI)
  • ANDREW VAN DYKE (BOARD MEMBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Therapsych's mission is to make alternative healing and wellness modalities accessible to the general public, and specifically, to those who have tried traditional routes of healing without success. It does so by leasing space to alternative wellness practitioners and service providers, and offers subsidized or low cost treatments through direct financial support and grants to low income individuals.

What it reported doing in 2024

Expenses for renovation of a building to allow for privacy and comfort so that individual wellness practitioners can rent spaces daily or monthly in order to provide alternative health and wellness services to the general public.

Operating model

Revenue model
Donor-supported. 99% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 94
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 10.5%; rating input score 11
  • Program expense ratio: 96.4%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • 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: 89.9%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 8.88; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 10.5% of revenue deployed · 96.4% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $53K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 11/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.