FY 2008 Financial Report

The basic balance sheet information for FY 2007-2008 is presented below. For a complete discussion of MAPS 2007-2008 fiscal year see Rick Doblin's financial report in MAPS Bulletin Volume 18 number 3. You can also read MAPS' complete IRS Form 990 for 2008 in PDF format. MAPS' total income for FY 2007-2008 was $1,698,454. A chart presenting comparative results for the financial years 2001 – 2008 is available in PDF format.

Total expenses were $1,446,138 which resulted in an increase of assets in the amount of $252,316. Of these expenses, program services totaled $1,168,592 and management and general/fundraising costs were $277,546. A chart of all of MAPS expenses for FY 2007-2008 is 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. A summary of MAPS income, expenses, and assets is available in PDF format as well. Total assets at the end of FY 2007-2008 were $1,041,011. Of these assets, restricted funds amounted to $260,050 and unrestricted funds amounted to $780,961. Of the unrestricted funds, $50,000 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, $128,760 is for LSD/psilocybin research; $22,819 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): $36,587 is for the overall MDMA Psychotherapy Research Effort, $33,460 for the LSD/LSA/Psilocybin Cluster Headache Studies, $10,364 for the Marijuana Vaporizer Study (which we have been unable to conduct since NIDA refuses to sell 10 grams for this study), $11,193 for the the 2008 Burning Man Temple Project: Basura Sagrada, $1,750 for Bia Labate's Ayahuasca Religions Book, $2,375 for MAPS "Working with Difficult Psychedelic Experiences" video, $1000 for a Creativity Study, $1000 for a Ketamine Study, $5,793 for the Erowid.org Website, and $4,950 in Dean Chamberlain Royalties. The restricted funds are summarized on this balance sheet available in PDF format. A listing of all MAPS Projects is also available in both PDF and HTML formats.