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Brain & Behavior Research Foundation

CharityWatch report issued
February 2023

Top-Rated Charity
CharityWatch Grade
Our independent grade based
on a number of factors.
Program Percentage
Amount spent on programs
relative to overhead.
Cost to Raise $100
Amount spent to raise
$100 of contributions.

Contact Information

Brain & Behavior Research Foundation
747 Third Avenue
33rd Floor
New York, NY 10017

Other Names

NARSAD Research Institute
National Alliance for Research on Schizophrenia & Depression

Tax Status


Stated Mission

Committed to alleviating the suffering of mental illness by awarding grants that will lead to advances & breakthroughs in scientific research.

View similar charities
Data based on Fiscal Year Ended 12/31/2021

Program Percentage: 84%

The percentage of Brain & Behavior Research Foundation's cash budget it spends on programs relative to overhead (fundraising, management, and general expenses).


Calculated Total Expenses



Cost to Raise $100: $5

How many dollars Brain & Behavior Research Foundation spends on fundraising to raise each $100 of contributions.


Calculated Total Contributions


Government Funding

0% to 24%

Percentage of cash revenue
coming from government sources


Financial Documents

Entity Document Type Tax ID
Brain & Behavior Research Foundation & NARSAD Research Institute Audited Consolidated Financial Statements multiple
Brain & Behavior Research Foundation IRS Form 990 31-1020010
Entity: Brain & Behavior Research Foundation & NARSAD Research Institute
Document Type: Audited Consolidated Financial Statements
Tax ID: multiple
Entity: Brain & Behavior Research Foundation
Document Type: IRS Form 990
Tax ID: 31-1020010

Governance & Transparency

CharityWatch evaluates certain criteria related to a charity's Governance and Transparency. Donors may want to consider a charity's willingness to be open and transparent with CharityWatch to be a good litmus test for determining its commitment to public accountability.
This charity is Top-Rated
What does it mean to be Top-Rated?
Brain & Behavior Research Foundation
meets governance benchmarks.
Brain & Behavior Research Foundation
meets transparency benchmarks.
Provides Financial Information
Audit Accessibility
Governance: Policies
Reports regularly & consistently monitoring & enforcing compliance with a written Conflict of Interest Policy
Reports required, annual disclosure by officers, directors, and key staff of interests that could give rise to conflicts
Reports having a written Whistleblower Policy
Reports having a written Document Retention and Destruction Policy
Governance: Financials
Reports providing copy of tax form to all board members prior to filing it with IRS
Reports that financial statements were audited by an independent accountant
Governance: Board of Directors
Reports at least 5 voting board members
51% or more of voting board members reported as independent
Reports documenting minutes of board and board committee meetings
Privacy Policy
Privacy Policy

  Name Title Compensation
1 Jeffrey Borenstein President/CEO $569,231
2 Louis Innamorato CFO $402,949
3 Faith Rothblatt VP of Development $264,346
Name: Jeffrey Borenstein
Title: President/CEO
Compensation: $569,231
Name: Louis Innamorato
Title: CFO
Compensation: $402,949
Name: Faith Rothblatt
Title: VP of Development
Compensation: $264,346

CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

CharityWatch's rating of the Brain & Behavior Research Foundation also includes the financial activities of NARSAD Research Institute (tax ID #11-3401438), which are consolidated in the organization's audited financial statements for the year ended December 31, 2021. All intercompany accounts and transactions have been eliminated in the audit consolidation.

Brain & Behavior Research Foundation is the doing business as (d/b/a) name of the National Alliance for Research on Schizophrenia and Depression (NARSAD) (tax ID #31-1020010).

According to the Brain & Behavior Research Foundation consolidated audit of December 31, 2021 (Note 14, Contribution of Services), the Foundation received in-kind contributed services in 2021 on which it placed a total value of $2,315,959, including $1,492,914 in services contributed by the Foundation's Scientific Council.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]

According to the Brain & Behavior Research Foundation consolidated audit of December 31, 2021 (Note 2 re: Risks and Uncertainties – Investments):

"The Foundation's investments consist of a variety of investment securities and investment funds. Investments in general are exposed to various risks, such as interest rate, credit, and overall market volatility risk. Due to the level of risk associated with certain investments, it is reasonably possible that changes in the value of the Foundation's investments will occur in the near term and that such changes could materially affect the amounts reported in the accompanying [audited] consolidated financial statements."

According to the Brain & Behavior Research Foundation (BBRF) 2021 tax filing, BBRF reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding nonfixed payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, line 7):  "Merit bonuses are paid to certain staff members based on annual performance..."

BBRF reports "Bonus & incentive compensation" payments to two individuals in 2021 (IRS Form 990, Schedule J, Part II):

(1) Jeffrey Borenstein, President & CEO: $140,000, with reported total compensation of $569,231; and

(2) Louis Innamorato, CPA, CFO: $95,000, with reported total compensation of $402,949.

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