FY 2006 Financial Report

The basic balance sheet information for FY 2004-2005 is presented below.
MAPS IRS Form 990 for 2006 is available in PDF format.MAPS’ total income for FY 2005-2006 was $1,156.017.76A chart presenting comparative results for the financial years 2000 – 2006 is be available in PDF format. Total expenses were $1,025,475.22 which resulted in an increase of assets in the amount of $130,542.54. Of these expenses, program services totaled $903,570.52 and management and general/fundraising costs were $121,904.70. A chart of all of MAPS expenses for FY 2005-2006 is be available in PDF format. The division of expenses in terms of program services, management and general, and fundraising costs is the form required for the IRS Form 990. The expenses in the chart are divided differently, and are categorized as project expenses (subdivided into research and educational projects), operational expenses (some of which are considered program services in the IRS report such as our website and Bulletin expenses, which are educational, and a substantial portion of staff salaries for work on research projects), product sales, and capital expenses.Total assets at the end of FY 2005-2006 were $783,522. Of these assets, restricted funds amounted to $266,621 and unrestricted funds amounted to $516,901. Of the unrestricted funds, $40,000 is not liquid and is from the value of a remainder interest that MAPS was given in a $1 million home that will probably come to MAPS in 30 or 40 years. Of the restricted funds, $70,277 is for LSD/psilocybin research; $68,053 for the Project Start-Up Fund: UMass Amherst (John Gilmore donated $100,000 to enable MAPS to fund initial costs of projects in early stages before other donors are likely to feel the projects are solid enough to justify support, ideally with the fund replenished if projects start): $64,692 is for the overall MDMA Psychotherapy Research Effort, $44,498 for the Harvard LSD/Psilocybin Cluster Headache Study, $13,000 for the Marijuana Vaporizer Study (which we have been unable to conduct since NIDA refuses to sell 10 grams for this study), $5100 for the Women’s Entheogen Fund, and $1000 for a Creativity Study.