Pacific Neuroscience Institute Foundation

Analysis

Pacific Neuroscience Institute Foundation is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in June 2016, 10 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Pacific Neuroscience Institute Foundation reported income of $6.6m and spending of $9.4m, spending 141% of what it took in. Across the 5 years on record, from December 2019 to June 2023, income fell from $7.0m to $6.6m (-5.6%), an average of -1.4% a year. The sharpest change came in the year to June 2022, when income rose by 130%. Over the whole period it spent 134% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Pacific Neuroscience Institute Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within CA. Charities of a similar size with the same main cause include Abt Performing Arts Association Inc ($6.6m), American Swedish Institute ($6.6m) and Tennessee Golf Foundation ($6.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 3.9% of the total. Compensation of current officers, directors and key employees was $430k (4.6% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $36.3m against liabilities of $3.2m, net assets of $33.1m. It reported 38 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.