PBM ACCOUNTABILITY PROJECT

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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

2019

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

PBM ACCOUNTABILITY PROJECT, founded in 2019, is a mid-sized nonprofit that reported $20.4M in total revenue in fiscal year 2023. Revenue surged 277% from the prior year, signaling strong growth momentum.

Mission

TO RESTORE SAVINGS AND AFFORDIBILITY FOR PURCHASERS OF PRESCRIPTION MEDICINES BY MAKING PBMS ACCOUNTABLE FOR DELIVERING THE HIGHEST POSSIBLE SAVINGS - THAT IS, THE MOST AFFORDABLE PRESCRIPTION DRUG PRICING - TO GROUP PURCHASERS AND INDIVIDUAL PATIENTS

Program Service Accomplishments

Program 1

Expenses: $11,957,098 Revenue: $12,257,669

BUILT A PUBLIC EDUCATION COALITION BASED ON FINDING COMMON GROUND BETWEEN LABOR, EMPLOYERS, PATIENTS AND TAXPAYERS COMMITTED TO THE MISSION OF THE PBM ACCOUNTABILITY PROJECT TO HOLD PBMS ACCOUNTABLE FOR ENSURING THAT THE PRESCRIPTION DRUG MARKET PLACE MEETS THE NEEDS OF PATIENTS AND OTHER PURCHASERS OF MEDICINE.

Program 2

Expenses: $7,971,399 Revenue: $8,171,779

EDUCATED STATE LEGISLATIVE STAFF AND APPPOINTEES ON IMPLEMENTATION OF POLICIES THAT ADVANCE THE MISSION OF THE PBM ACCOUNTABILITY PROJECT. OUR EDUCATION PROGRAMS CONTRIBUTED TO ENACTMENT OF STATE PBM...

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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 $20,417,048

Program Service Revenue $0

Investment Income $0

Other Revenue $12,400

TOTAL REVENUE $20,429,448

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $19,928,497

Other Expenses $21,985,458

TOTAL EXPENSES $21,985,458

Year-over-Year Comparison

	2023	2022	Change
Revenue	$20,429,448	$5,423,300	+2.8%
Expenses	$21,985,458	$3,845,295	+4.7%
Net Income	$-1,556,010	$1,578,005	-2.0%

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

N/A

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUGLAS H DORITY	Trustee	1.00		$0	$0	$0
KENDALL MARTIN	Trustee	1.00		$0	$0	$0
STEVE SLEIGH	Trustee	1.00		$0	$0	$0
MARK BLUM	GENERAL MANAGER	8.00	Officer	$0	$0	$0
MICHAEL KAPSA	SECRETARY/TREAS	4.00	Officer	$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
2023	$20,429,448	$21,985,458	$35,573	$-1,556,010
2022	$7,406,700	$5,828,695	$1,591,583	$1,578,005
2021	$8,855,000	$8,880,996	$13,578	$-25,996
2020	$1,315,000	$1,289,590	$39,574	$25,410