Pharmaceutical Security Institute … - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Phone

7038480160

Tax Period

2023-01-01 to 2023-12-31

Pharmaceutical Security Institute Inc, founded in 2001, is a community nonprofit in the Health Care sector that reported $2.2M in total revenue in fiscal year 2023.

Mission

COLLECT, ANALYZE, DISSEMINATE INFO ABOUT COUNTERFEITING OF MEDICINES TO MEMBERS, POLICE, CUSTOMS AGENTS, DRUG REGULATORS AND THE PUBLIC.

Program Service Accomplishments

Program 1

INFORMATION PROGRAM - Collect, analyze, and disseminate information. There were more than 42,000 reports of counterfeit, stolen and illegally diverted medicines WHICH were identified and analyzed. Of these approximately 6,900 were determined to be unique. PSI reports were provided to international organizations to include the World Health Organization, the World Customs Organization, Interpol, and Europol. National authorities were likewise provided with this information within the U.S., the Food and Drug Administration at the various FDA centers, including the office of criminal investigations, the FBI, United Nations, The Organization for Economic Co-operation and Development and the Department of Homeland Security's IPR center.

Program 2

TRAINING PROGRAM - Training and informational sessions were held at several locations and online with presentations in China, Indonesia, Japan, US, Malaysia, Philippines, Singapore, Thailand, Korea, Vietnam, India, Mexico, Ecuador, Peru, Argentina, Bolivia, Costa Rica, Chile, Colombia, Guatemala, Panama, Guatemala, Honduras, El Salvador, Dominican Republic, Spain, France, United Kingdom, Brazil, Turkey, Bulgaria, Kenya, Uganda, and Egypt. Over 2,000 persons were reached through these various programs.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,149,951

Investment Income $53,926

Other Revenue $0

TOTAL REVENUE $2,203,877

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,090,000

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,207,620

TOTAL EXPENSES $2,297,620

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,203,877	$2,254,106	0.0%
Expenses	$2,297,620	$1,854,717	+0.2%
Net Income	$-93,743	$399,389	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$304,011

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Chairperson	1.0	Officer Director	$0	$0	$0
N/A	Treasurer	1.0	Officer Director	$0	$0	$0
N/A	Secretary	1.0	Officer Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	Board Member	1.0	Director	$0	$0	$0
N/A	President and CEO	55.0	Officer	$304,011	$0	$304,011
N/A	Regional Manager	40.0	Highest	$147,290	$0	$147,290
N/A	Global Intelligence Manager	40.0	Highest	$141,625	$19,311	$160,936
N/A	Regional Director	40.0	Highest	$117,201	$10,968	$128,169

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,203,877	$2,297,620	$3,048,080	$-93,743
2022	$2,254,106	$1,854,717	$3,376,183	$399,389
2021	$2,023,248	$1,389,599	$3,059,244	$633,649
2020	$1,625,392	$1,607,657	$2,434,127	$17,735
2019	$1,855,919	$1,781,880	$2,280,359	$74,039
2018	$1,543,349	$1,370,381	$2,487,707	$172,968

Pharmaceutical Security Institute Inc