INSTITUTE FOR SAFE MEDICATION PRACTICES (EIN 232757559) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

RITA JEW

Phone

2159477797

Tax Period

2023-01-01 to 2023-12-31

INSTITUTE FOR SAFE MEDICATION PRACTICES, founded in 1994, is a community nonprofit in the Health Care sector that reported $2.4M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $4.0M exceeded revenue, resulting in a 68% operating deficit.

Mission

THE ORGANIZATION'S MISSION IS TO ADVANCE PATIENT SAFETY WORLDWIDE BY EMPOWERING THE HEALTHCARE COMMUNITY TO PREVENT MEDICATION ERRORS.

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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 $461,837

Program Service Revenue $1,946,403

Investment Income $0

Other Revenue $-44,869

TOTAL REVENUE $2,363,371

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,326,476

Fundraising Expenses $28,630

Program Expenses $1,718,848

Other Expenses $1,649,056

TOTAL EXPENSES $3,975,532

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,363,371	$2,506,078	-0.1%
Expenses	$3,975,532	$2,908,543	+0.4%
Net Income	$-1,612,161	$-402,465	+3.0%

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

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

$2,933,569

Total Directors

$2,508,997

Key Employees

$374,541

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARCUS SCHABACKER	DIRECTOR - CHAIR	2.00	Officer Director	$0	$53,247	$1,547,370
DHEERENDRA KOMMALA	DIRECTOR	2.00	Director	$0	$26,402	$508,510
PETER CATALANO	DIRECTOR - TREASURER	2.00	Officer Director	$0	$46,742	$453,117
JANICE DUNSAVAGE	DIRECTOR	2.00	Director	$0	$0	$0
RANDAL WHITE	SECRETARY	2.00	Officer	$0	$48,119	$364,391
RITA JEW	PRESIDENT	43.00	Officer	$285,166	$12,277	$297,443
SUSAN PAPARELLA	VP, SERVICES	42.00	Officer	$180,538	$7,807	$188,345
MICHAEL COHEN	PRESIDENT EMERITUS	16.00	Officer	$79,714	$3,189	$82,903
MICHELLE MANDRACK	DIRECTOR, CONSULTING	41.00	Key Emp	$159,464	$30,360	$189,824
CHRISTINA MICHALEK	DIRECTOR, MEMBERSHIP AND PSO	49.00	Key Emp	$177,015	$7,702	$184,717
MATTHEW GRISSINGER	DIRECTOR, EDUCATION	40.00	Highest	$143,022	$6,244	$149,266
MICHAEL GAUNT	SR MGR, ERROR REPORTING	42.00	Highest	$140,838	$6,181	$147,019
SHANNON BERTAGNOLI	MED SAFETY SPEC, PUBLICATIONS	40.00	Highest	$132,638	$10,658	$143,296
REBECCA LAMIS	MGR, MED SAFETY BOARD	40.00	Highest	$123,828	$15,746	$139,574
ANN SHASTAY	SR MANAGER, PUBLICATIONS	45.00	Highest	$124,590	$5,557	$130,147

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	$2,363,371	$3,975,532	$2,007,773	$-1,612,161
2022	$2,506,078	$2,908,543	$2,392,673	$-402,465
2021	$3,094,648	$3,114,391	$2,764,621	$-19,743
2020	$2,379,102	$3,508,891	$3,148,993	$-1,129,789
2019	$2,960,404	$3,828,304	$3,313,976	$-867,900
2018	$3,597,805	$3,044,278	$4,702,969	$553,527

INSTITUTE FOR SAFE MEDICATION PRACTICES