Needymeds Inc

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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

2011

Legal Domicile

Phone

9782816666

Tax Period

2024-01-01 to 2024-12-31

Needymeds Inc, founded in 2011, is a community nonprofit in the Health Care sector that reported $1.6M in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

NEEDYMEDS EDUCATES AND EMPOWERS THOSE SEEKING AFFORDABLE HEALTHCARE.

Program Service Accomplishments

Program 1

Expenses: $1,655,737 Revenue: $1,587,711

NEEDYMEDS, INC,PROVIDES INFORMATION THAT HELPS INDIVIDUALS FIND ASSISTANCE WITH MEDICINE AND HEALTHCARE COSTS. THE WEBSITE IS A COMPREHENSIVE, CURRENT AND EASILY ACCESSIBLE RESOURCES ON PROGRAMS...

NEEDYMEDS, INC,PROVIDES INFORMATION THAT HELPS INDIVIDUALS FIND ASSISTANCE WITH MEDICINE AND HEALTHCARE COSTS. THE WEBSITE IS A COMPREHENSIVE, CURRENT AND EASILY ACCESSIBLE RESOURCES ON PROGRAMS INCLUDING BUT NOT LIMIDED TO: PHARMACEUTICAL PATIENT ASSISTANCE PROGRAMS, PROGRAMS THAT ASSIST BASED ON DIAGNOSIS; FREE/LOW COST/SLIDING SCALE CLINICS; MEDICATION DISCOUNT COUPONS; CAMPS, SCHOLARSHIPS AND RETREATS BASED ON DIAGNOSIS;AND STATE AND FEDERAL PROGRAMS. ACCESS TO ALL THE INFORMATION IS FREE AND ANONYMOUS. NEEDYMEDS, INC. ALSO OFFERS A FREE DRUG DISCOUNT CARD THAT PROVIDES SAVINGS OF UP TO 80% ON THE CASH PRICE OF PRESCRIPTION DRUGS, OVER-THE-COUNTER MEDICATIONS AND MEDICAL SUPPLIES WRITTEN AS A PRESCRIPTION AND PET PRESCRIPTION DRUGS PURCHASED AT THE PHARMACY. NEEDYMEDS ENDEAVORS TO EDUCATE ADVOCATES AND THE GENERAL PUBLIC ABOUT ALL OF THE POTENTIAL SAVINGS AVAILABLE,MEDICATION ADHERENCE AND PATIENT EMPOWERMENT.

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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 (2024)

Revenue Breakdown

Contributions & Grants $16,954

Program Service Revenue $1,587,711

Investment Income $29,937

Other Revenue $0

TOTAL REVENUE $1,634,602

Expense Breakdown

Grants Paid $35

Salaries & Benefits $1,181,801

Fundraising Expenses $7,995

Program Expenses $1,655,737

Other Expenses $590,537

TOTAL EXPENSES $1,772,373

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,634,602	$1,727,574	-0.1%
Expenses	$1,772,373	$1,670,773	+0.1%
Net Income	$-137,771	$56,801	-3.4%

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

Total Directors

Key Employees

$116,015

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RUTH ROWE	PRESIDENT	40.00	Key Emp	$109,271	$6,744	$116,015
FREDERICK COWAN	CHAIR/DIRECTOR	0.50	Officer Director	$0	$0	$0
DONALD MAIER MD	TREASURER/DIRECTOR	0.50	Officer Director	$0	$0	$0
ROBERTA DOWNEY	CLERK/DIRECTOR	0.50	Officer Director	$0	$0	$0
JULIE ERICKSON	DIRECTOR	0.50	Director	$0	$0	$0

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	$1,634,602	$1,772,373	$788,533	$-137,771
2023	$1,727,574	$1,670,773	$1,012,223	$56,801
2022	$1,800,949	$1,773,680	$983,532	$27,269
2021	$2,079,796	$2,021,634	$906,653	$58,162
2020	$2,196,896	$2,145,862	$1,072,565	$51,034
2019	$2,104,641	$2,077,363	$807,700	$27,278
2018	$1,985,644	$2,250,340	$1,129,495	$-264,696