Modern Minds

Analysis

Modern Minds is a registered charity in United States, based in Mt Pleasant, SC. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover mental health and crisis intervention, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Modern Minds reported income of $4.5m and spending of $3.7m, spending 83% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $3.2m to $4.5m (+42%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 29%. Over the whole period it spent 88% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Modern Minds sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 94th percentile within SC. Charities of a similar size with the same main cause include St Marys Health System ($4.5m), Treehouse Inc ($4.5m) and Phoebe Foundation Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $229k (6.1% of expenses). Other salaries and wages came to $248k. At year end it held assets of $2.6m against liabilities of $270k, net assets of $2.4m. It reported 12 employees.