Science of Mind Foundation Inc

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GuideStar Charity Check

Science of Mind Foundation Inc

EIN: 27-0231514


The Science of Mind Foundation invests your gifts to extend the practice of spiritual living and put it to work to build a more abundant and secure future. We provide services to individuals who would like help in creating gifts in their wills, living trusts, or other estate planning instruments. The Foundation receives donations, major gifts, and planned gifts from the wills of individuals. A portion of received funds are used for operating the organization and the majority is invested into the Science of Mind Foundation's Endowment. Donors giving $25.00 and above are honored by membership in the Science of Mind Legacy Society. Donors giving $25,000.00 and above will also have a name engraved star placed on the Science of Mind Foundation Legacy Society Celestial Wall of Honor.

Notes from the nonprofit

The strategic goals set in 2019 are all close to being met, and we are working on updating our strategic plan in 2023.

Ruling year info


Director of Philanthropy

Mr. Michael Schlut

Main address



Show more contact info



Subject area info


Interdisciplinary studies


Population served info



LGBTQ people


Religious groups

NTEE code info

Interdisciplinary Research (V30)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms



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What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Spiritual Living Center for Education & Training - Chaplaincy Program

Financially assist Spiritual Living Center for Education & Training Chaplaincy Program in its mission to provide exceptional clinical pastoral/spiritual education & training of those called to care for the spiritual and emotional needs of others, with the intent to alleviate human suffering, and whose intention is to foster a global community of inspired individuals caring for and about others, thereby bringing the gift of active compassion and kindness to the world.

Population(s) Served
Interfaith groups

Member Centers of Centers for Spiritual Living are encouraged to raise funds for the purpose of establishing an endowment through Science of Mind Foundation, Inc. The Foundation will match a Center's initial contribution up to $25,000.00 with a minimum commitment of $12,500.00 needed to receive the one-time matching fund grant. A Center may add to its established endowment fund in minimum increments of $1,000.00 up to four times per year during the first ten days of the calendar quarter. A written agreement between the Center and Science of Mind Foundation will govern all aspects of the creation and operation of the Center's named endowment within the Science of Mind Foundation. As of 2020, the Science of Mind Foundation Board of Directors approved to continue this program into 2021 with a budget of $100,000.00, allowing for 4 Center endowment matches. The Board of Directors will review this program on a year to year basis going forward.

Population(s) Served
Secular groups

Where we work

Affiliations & memberships

Centers for Spiritual Living 2011

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of endowments

This metric is no longer tracked.
Totals By Year
Population(s) Served

Interfaith groups, Secular groups

Related Program

Centers for Spiritual Living, Member Center Endowment Matching Funds Program

Type of Metric

Other - describing something else

Direction of Success


Context Notes

Grant program: Centers for Spiritual Living, Member Center Matching Endowment Program began in February 2018. The Foundation matches up to $25K for a Center to create an endowment via the Foundation.

Total number of grants awarded

This metric is no longer tracked.
Totals By Year
Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Holding steady

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

The Foundation is well on its way to meeting twenty-five matched endowments by the end of 2023, which is one year ahead of schedule.

In 2019, the SOM Legacy Society program began, and a beautiful donor wall was designed and hung at the home office in Golden, Colorado, to honor those who left the Foundation in their estate planning.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback


Science of Mind Foundation Inc
Fiscal year: Jan 01 - Dec 31
Financial documents
2022 SOMF September 2022 Financials
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990


Average of 60.89 over 10 years

Months of cash in 2022 info

SOURCE: IRS Form 990


Average of 12.2 over 10 years

Fringe rate in 2022 info

SOURCE: IRS Form 990


Average of 8% over 10 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

Science of Mind Foundation Inc

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

Science of Mind Foundation Inc

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Science of Mind Foundation Inc

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of Science of Mind Foundation Inc’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

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Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation -$88,936 $522,341 $636,331 $685,048 -$842,205
As % of expenses -15.9% 132.1% 160.9% 212.1% -214.2%
Unrestricted surplus (deficit) after depreciation -$88,936 $520,618 $634,203 $683,071 -$844,075
As % of expenses -15.9% 131.1% 159.5% 210.2% -213.6%
Revenue composition info
Total revenue (unrestricted & restricted) $672,905 $544,441 $659,717 $658,764 $346,792
Total revenue, % change over prior year -8.8% -19.1% 21.2% -0.1% -47.4%
Program services revenue 1.9% 2.6% 2.7% 3.5% 7.9%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.0%
Investment income 9.0% 13.5% 9.5% 12.6% 21.1%
Government grants 0.0% 0.0% 0.0% 0.0% 0.0%
All other grants and contributions 89.2% 84.2% 85.2% 80.5% 31.8%
Other revenue -0.1% -0.3% 2.6% 3.4% 39.2%
Expense composition info
Total expenses before depreciation $560,492 $395,421 $395,389 $322,992 $393,258
Total expenses, % change over prior year 138.7% -29.5% 0.0% -18.3% 21.8%
Personnel 25.9% 48.0% 36.6% 33.1% 28.1%
Professional fees 12.9% 15.9% 19.9% 19.6% 20.0%
Occupancy 1.6% 2.8% 2.1% 2.8% 2.3%
Interest 0.0% 0.0% 0.0% 0.0% 0.0%
Pass-through 43.7% 19.0% 25.3% 31.0% 41.6%
All other expenses 15.9% 14.2% 16.1% 13.6% 8.0%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $560,492 $397,144 $397,517 $324,969 $395,128
One month of savings $46,708 $32,952 $32,949 $26,916 $32,772
Debt principal payment $0 $0 $0 $0 $0
Fixed asset additions $30,500 $3,014 $0 $0 $0
Total full costs (estimated) $637,700 $433,110 $430,466 $351,885 $427,900

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 4.8 7.1 3.8 17.4 8.1
Months of cash and investments 56.9 98.2 118.3 172.2 104.2
Months of estimated liquid unrestricted net assets 50.8 87.8 107.1 156.6 102.9
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $223,748 $232,931 $125,708 $468,270 $265,049
Investments $2,432,806 $3,002,345 $3,772,531 $4,166,530 $3,150,957
Receivables $1,878 $2,257 $6,410 $1,266 $16,304
Gross land, buildings, equipment (LBE) $30,500 $33,514 $33,514 $32,226 $32,226
Accumulated depreciation (as a % of LBE) 0.0% 5.1% 11.5% 16.7% 22.5%
Liabilities (as a % of assets) 30.8% 28.4% 29.5% 42.2% 37.5%
Unrestricted net assets $2,403,565 $2,924,183 $3,558,386 $4,241,457 $3,397,382
Temporarily restricted net assets $273,377 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $273,377 $341,954 $375,621 $407,630 $322,687
Total net assets $2,676,942 $3,266,137 $3,934,007 $4,649,087 $3,720,069

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No


The people, governance practices, and partners that make the organization tick.

Form 1023/1024 is not available for this organization

Director of Philanthropy

Mr. Michael Schlut

Michael is the Director of Philanthropy for Centers for Spiritual Living and Science of Mind Foundation. He has worked in the nonprofit sector for many years and now is dedicated to bringing Science of Mind to all people and making the world a place that works for everyone.

Number of employees

Source: IRS Form 990

Science of Mind Foundation Inc

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

Science of Mind Foundation Inc

Board of directors
as of 03/14/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Dr. Walter Drew

Dr. Walter Drew

Ero Johnson

Nancy Loshkajian

Rev. Elizabeth Mirante

Charlie Goldsmith

Rev. Alice Reid

Centers for Spiritual Living

Rev. Sunday Cote`

Centers for Spiritual Living

Rev. Dr. Tracy Brown

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 3/14/2024

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.


The organization's leader identifies as:

Race & ethnicity
Gender identity
Male, Not transgender
Sexual orientation
Gay, Lesbian, Bisexual, or other sexual orientations in the LGBTQIA+ community
Disability status
Decline to state

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data


No data

Equity strategies

Last updated: 10/31/2022

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.