Medical Research (H48J) IRS Verified DX Registered 990 on File

BRAIN RESEARCH FOUNDATION

EIN: 36-2477928 · CHICAGO, IL 60602-2767 · United States · FY 2023 Data

3 out of 5 51 / 100 Based on 2+ years of filings

Financial strength (30%) 74/100

Reliability (20%) 55/100

Effectiveness (25%) 73/100

Impact (25%) No data yet

Financial data: FY 2023 · Scored 9/13/2026

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CharityAI™ Score

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Mission Statement

Brain Research Foundation supports neuroscience research that leads to advanced understanding of brain function in children and adults. This Foundation is committed to advance discoveries that will lead to novel treatments and prevention of all neurological diseases. We deliver this commitment through both research grant programs, which provide initial funding for innovative research projects, as well as educational programs for researchers and the general public.

Financial Overview — FY 2023

$2.3M

Total Revenue

$2.7M

Total Expenses

$19.2M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 70.9%

Fundraising Efficiency 544.3%

Operating Reserve 85.95x

Liability-to-Asset 5.4%

Revenue Diversification 67.6%

Executive Compensation $394K

Compared with Peers

FY 2023

Compared with 481 similar organizations (United States, Medical Research, $1M–$10M in expenses), FY 2023.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	70.9%	82.4%	P10P90	Bottom quarter
Admin expense ratio Management and general / total expenses · lower is better	23.7%	12.0%	P10P90	Bottom quarter
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	5.4%	1.0%	P10P90	Below median
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	544.3%	135.9%	P10P90	Bottom quarter
Operating reserve Months of expenses covered by net assets · higher is better	86.0 mo	15.1 mo	P10P90	Top quarter
Liabilities to assets Total liabilities / total assets · lower is better	5.4%	11.5%	P10P90	Above median
Revenue concentration Share of revenue from the largest source · lower is better	67.6%	93.0%	P10P90	Top quarter
Revenue growth Year over year revenue growth	-8.6%	7.0%	P10P90
Expense growth Year over year expense growth	-9.4%	12.7%	P10P90
Surplus margin Surplus as a share of revenue	-17.7%	0.1%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2023	$2.3M	$2.7M	$19.2M	70.9%	2
2022	$2.5M	$3.0M	$18.3M	74.4%	2
2021	$4.7M	$2.7M	N/A	—	2

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Organization Details

EIN: 36-2477928
State: IL
City: CHICAGO
ZIP: 60602-2767
Classification: H48J
Category: Medical Research
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1953
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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