PATIENTS FOR AFFORDABLE DRUGS

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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

2016

Legal Domicile

Principal Officer

DAVID MITCHELL

Phone

2027347555

Tax Period

2023-01-01 to 2023-12-31

PATIENTS FOR AFFORDABLE DRUGS, founded in 2016, is a community nonprofit in the Health Care sector that reported $2.3M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. The organization ran a surplus of $699K, a strong 30% operating margin.

Mission

THE PURPOSE OF PATIENTS FOR AFFORDABLE DRUGS IS TO PROMOTE HEALTH BY RAISING THE VOICES OF PATIENTS AND THEIR FAMILIES ON THE CAUSES OF HIGH DRUG PRICES AND TO HELP EDUCATE THEM ABOUT HOW THEY CAN BE A PART OF THE DISCUSSION AND WORK TO MAKE REFORMS TO THE US SYSTEM OF DRUG PRICING IN THE PRIVATE AND PUBLIC SECTORS.

Program Service Accomplishments

Program 1

Expenses: $1,485,987 Revenue: $0

GENERAL PROGRAM: THE GENERAL PROGRAM CONSISTS OF BUILDING A PATIENT-CENTERED COALITION THAT IS FINANCIALLY INDEPENDENT FROM ANY PHARMACEUTICAL INDUSTRY SUPPORT WITH A MISSION TO EDUCATE THE PUBLIC...

GENERAL PROGRAM: THE GENERAL PROGRAM CONSISTS OF BUILDING A PATIENT-CENTERED COALITION THAT IS FINANCIALLY INDEPENDENT FROM ANY PHARMACEUTICAL INDUSTRY SUPPORT WITH A MISSION TO EDUCATE THE PUBLIC, PATIENTS, AND KEY STAKEHOLDERS ABOUT BOTH THE REAL-LIFE CHALLENGES THAT PATIENTS FACE UNDER THE CURRENT DRUG DEVELOPMENT AND PRICING FRAMEWORK.

Program 2

Expenses: $10,500 Revenue: $0

THE HOPEWELL FUND - IMPACT PROJECT: A GENERAL SUPPORT GRANT WITH A FOCUS ON RECRUITMENT AND TRAINING OF PATIENTS IN COLORADO, MICHIGAN AND VIRGINIA WHO TAKE HIGH COST PRESCRIPTION MEDICATION.

Program 3

Expenses: $510 Revenue: $40,000

WEST HEALTH 2023 PILOT RECRUITMENT PROJECT: GRASSROOTS RECRUITMENT AND OUTREACH STRATEGY TO INCLUDE DEVELOPING AND IMPLEMENTING A PILOT RECRUITMENT STRATEGY WITH AN EMPHASIS ON IDENTIFYING AND...

WEST HEALTH 2023 PILOT RECRUITMENT PROJECT: GRASSROOTS RECRUITMENT AND OUTREACH STRATEGY TO INCLUDE DEVELOPING AND IMPLEMENTING A PILOT RECRUITMENT STRATEGY WITH AN EMPHASIS ON IDENTIFYING AND ENGAGING PATIENTS FROM COMMUNITIES WHO ARE DISPROPORTIONATELY HARMED BY HIGH DRUG PRICES.

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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 $1,461,976

Program Service Revenue $40,000

Investment Income $40

Other Revenue $816,001

TOTAL REVENUE $2,318,017

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,160,090

Fundraising Expenses $12,133

Program Expenses $1,496,997

Other Expenses $458,609

TOTAL EXPENSES $1,618,699

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,318,017	$2,028,313	+0.1%
Expenses	$1,618,699	$1,808,372	-0.1%
Net Income	$699,318	$219,941	+2.2%

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

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

$435,550

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MERITH BASEY	EXECUTIVE DIRECTOR	40	Officer	$225,650	$7,569	$233,219
WENDY CHEW	CHIEF OPERATING OFFICER	40	Officer	$180,513	$21,818	$202,331
AUDREY BAKER	MEDIA & COMMUNICATIONS DIRECTOR	20	Highest	$102,333	$4,657	$106,990
DAVID MITCHELL	PRESIDENT/FOUNDER	40	Officer Director	$0	$0	$0
CAL LAROCHE	TREASURER	0.25	Officer Director	$0	$0	$0
CHARLES HURLEY	BOARD MEMBER	0.25	Director	$0	$0	$0
TOMI FADEYI-JONES	BOARD MEMBER	0.25	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$2,318,017	$1,618,699	$1,271,094	$699,318
2022	$2,028,313	$1,808,372	$525,316	$219,941
2021	$603,423	$1,142,425	$344,432	$-539,002
2020	$876,388	$1,085,568	$903,107	$-209,180
2019	$1,654,194	$1,003,929	$1,061,488	$650,265
2018	$567,521	$894,989	$417,873	$-327,468