Hope For Depression Research Foundation
- Assets
- $59.8m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 7
- Location
- New York, NY
- Founding
- 01/2007
- Data as of
- 06/2021
- EIN
- 20-4559210
Organization Overview
Hope For Depression Research Foundation is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (H12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Medical Research and related organizations. As of 06/2021, Hope For Depression Research Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope For Depression Research Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Hope For Depression Research Foundation generated $6.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $5.9m during the year ending 06/2021. While expenses have increased by 6.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Hope For Depression Research Foundation has awarded 32 individual grants totaling $18,943,851. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION FUNDS RESEARCH TO FIND THE ROOT CAUSES OF AND NEW AND BETTER TREATMENTS FOR DEPRESSION, AS WELL AS PROGRAMS TO RAISE PUBLIC AWARENESS ABOUT THE ILLNESS.
Describe the Organization's Program Activity:
THE FOUNDATION WAS INCORPORATED TO FUND THE MOST INNOVATIVE NEUROSCIENCE RESEARCH INTO THE ORIGINS, DIAGNOSIS, TREATMENT AND PREVENTION OF DEPRESSION AND ITS RELATED MOOD DISORDERS- BIPOLAR DISORDER, POSTPARTUM DEPRESSION, POST-TRAUMATIC STRESS DISORDER, ANXIETY DISORDER AND SUICIDE. ******************************************************************
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Louisa Benton Executive Director | OfficerTrustee | 40 | $199,887 |
Audrey B Gruss Chairman & Director | OfficerTrustee | 20 | $0 |
David Zislin Vice President / Treasurer | OfficerTrustee | 1 | $0 |
Martin D Gruss Senior Vice President | OfficerTrustee | 1 | $0 |
Bhash Lalta Vice President / Secretary | Officer | 1 | $0 |
Courtney Keemss Assistant Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,005,581 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,307,149 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,312,730 |
| Total Program Service Revenue | $0 |
| Investment income | $2,554,218 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,866,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,850,437 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $803,720 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,886 |
| Compensation of current officers, directors, key employees. | $69,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $209,208 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $74,863 |
| Payroll taxes | $27,095 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,373 |
| Fees for services: Accounting | $57,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $178,122 |
| Advertising and promotion | $9,332 |
| Office expenses | $38,710 |
| Information technology | $24,953 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,558 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,325 |
| All other expenses | $217,758 |
| Total functional expenses | $5,907,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $424,831 |
| Savings and temporary cash investments | $2,990,647 |
| Pledges and grants receivable | $61,125 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $77,504 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $23,252 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $56,254,000 |
| Total assets | $59,831,359 |
| Accounts payable and accrued expenses | $423,183 |
| Grants payable | $3,811,143 |
| Deferred revenue | $145,418 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $115,378 |
| Total liabilities | $4,495,122 |
| Net assets without donor restrictions | -$935,784 |
| Net assets with donor restrictions | $56,272,021 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $59,831,359 |
Grants Awarded
Over the last fiscal year, Hope For Depression Research Foundation has awarded $3,850,437 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: DEPRESSION RESEARCH | $1,005,200 |
RESEARCH FOUNDATION FOR MENTAL HYGIENE INC PURPOSE: DEPRESSION RESEARCH | $816,683 |
Ann Arbor, MI PURPOSE: DEPRESSION RESEARCH | $768,128 |
JOAN & SANFORD I WEIL MEDICAL COLLEGE OF CORNELL PURPOSE: DEPRESSION RESEARCH | $370,095 |
Durham, NC PURPOSE: DEPRESSION RESEARCH | $363,614 |
Altoona, WI PURPOSE: DEPRESSION RESEARCH | $195,206 |
Grants Recieved
Over the last fiscal year, we have identified 32 grants that Hope For Depression Research Foundation has recieved totaling $216,629.
| Awarding Organization | Amount |
|---|---|
Paulson Family Foundation New York, NY PURPOSE: TO HELP THE FOUNDATION FUND DEPRESSION RESEARCH. | $60,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $23,350 |
The Mary Hilem Taylor Foundation Boca Raton, FL PURPOSE: GENERAL | $20,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $16,300 |
Susan Rasinski Mccaw Foundation North Palm, FL PURPOSE: GENERAL FUND | $15,000 |
Randall And Barbara Smith Foundation Inc Englewood, NJ PURPOSE: UNRESTRICTED GRANT | $13,000 |
Endowment Analysis
| Beg. Balance | $32,623,357 |
| Earnings | $23,630,643 |
| Ending Balance | $56,254,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Health Effects Institute Boston, MA | $12,526,721 | $12,481,645 |
The Association For Frontotemporal Degeneration King Of Prussia, PA | $44,796,969 | $12,057,958 |
Childrens Oncology Group Foundation Philadelphia, PA | $22,837,173 | $7,487,855 |
Hope For Depression Research Foundation New York, NY | $59,831,359 | $6,866,948 |
Israel Cancer Research Fund Inc New York, NY | $17,015,756 | $7,146,502 |
Life Science Cares Inc Cambridge, MA | $8,104,702 | $8,289,428 |
Haymakers For Hope Inc Wellesley, MA | $644,411 | $4,070,620 |
Fox Chase Cancer Center Foundation Philadelphia, PA | $63,333,365 | $6,307,847 |
The Progeria Research Foundation Inc Peabody, MA | $53,690,802 | $49,219,762 |
Improvecarenow Inc Essex, VT | $802,029 | $3,120,134 |
Dubai Harvard Foundation For Medical Research Inc Boston, MA | $15,096,309 | $431,547 |
The Curetivity Foundation Darien, CT | $568,541 | $2,365,515 |