PATH DRUG SOLUTIONS

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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

2000

Legal Domicile

Principal Officer

BRIAN NEVILLE

Phone

2062853500

Tax Period

2018-01-01 to 2018-12-31

PATH DRUG SOLUTIONS, founded in 2000, is a community nonprofit that reported $3.0M in total revenue in fiscal year 2018. Revenue surged 1378% from the prior year, signaling strong growth momentum. Expenses of $3.6M exceeded revenue, resulting in a 20% operating deficit.

Mission

THE MISSION OF PATH DRUG SOLUTIONS (PDS) IS TO DEVELOP AND ADVANCE SAFE AND EFFECTIVE MEDICINES FOR THE PREVENTION AND TREATMENT OF DISEASES DISPROPORTIONATELY AFFECTING WOMEN AND CHILDREN IN LOW-RESOURCE SETTINGS. WE WORK WITH A VARIETY OF PUBLIC- AND PRIVATE-SECTOR STAKEHOLDERS TO BUILD CROSS-SECTOR COLLABORATIONS, SECURE INTELLECTUAL PROPERTY, REVISIT PROMISING DRUGS OR DRUG CANDIDATES THAT HAVE BEEN SET ASIDE FOR NONMEDICAL REASONS (E.G., LACK OF EARNING POTENTIAL), AND HARNESS SCIENTIFIC AND MANUFACTURING CAPACITY IN COUNTRIES AROUND THE WORLD TO ENSURE THAT DRUGS ARE AVAILABLE, ACCESSIBLE, AFFORDABLE, AND ACCEPTABLE AND THAT SUPPLIES ARE SUSTAINABLE TO ALL THOSE WHO NEED THEM.

Program Service Accomplishments

Program 1

Expenses: $3,542,988

IN NOVEMBER 2017, THE PDS BOARD DISCUSSED DISSOLUTION PDS. IN 2018, A NUMBER OF ACTIVITIES WERE CARRIED OUT TO COMPLETE THE DISSOLUTION PROCESS, INCLUDING PRODUCT PATENT TRANSFERS FROM PDS TO PATH...

IN NOVEMBER 2017, THE PDS BOARD DISCUSSED DISSOLUTION PDS. IN 2018, A NUMBER OF ACTIVITIES WERE CARRIED OUT TO COMPLETE THE DISSOLUTION PROCESS, INCLUDING PRODUCT PATENT TRANSFERS FROM PDS TO PATH, ENGAGEMENT OF LEGAL COUNSEL FOR DISSOLUTION PROCEDURES, AND OTHER ADMINISTRATIVE WORK. ON DECEMBER 31, 2018, THE DISSOLUTION OF PDS WAS FORMALLY RECOGNIZED BY THE CALIFORNIA SECRETARY OF STATE.IN JANUARY 2018, FOLLOWING THE CONCLUSION OF THE PHASE 2 CLINICAL STUDY OF RILPIVIRINE LA, A LONG-ACTING INJECTABLE DRUG TO PREVENT INFECTION WITH HIV WHEN USED BEFORE EXPOSURE, PDS COMPLETED ALL REMAINING STUDY CLOSE-OUT ACTIVITIES. THE INVESTIGATIONAL NEW DRUG APPLICATION FOR RILPIVIRINE LA HAS BEEN PLACED IN AN INACTIVE STATUS WITH THE US FOOD AND DRUG ADMINISTRATION, AND THE PROJECT IS NOW FINISHED.IN 2018, PDS CONTINUED WORK TO REDUCE THE BURDEN OF VISCERAL LEISHMANIASIS, ALSO KNOWN AS KALA-AZAR. KALA-AZAR IS A PARASITIC DISEASE COMMON IN AFRICA AND ASIA AND IS ALMOST ALWAYS FATAL IF LEFT UNTREATED. PDS SUPPORTED THE GOVERNMENT OF NEPAL IN ACTIVE CASE DETECTION USING BOTH A CAMP-BASED APPROACH AND AN INDEX CASE-BASED APPROACH IN KALA-AZAR ENDEMIC DISTRICTS. PDS ALSO HOSTED AN INTERNATIONAL POST-KALA-AZAR DERMAL LEISHMANIASIS (PKDL) CONSORTIUM MEETING TO PROVIDE GUIDANCE ON IMPROVING DIAGNOSIS, TREATMENT, AND FOLLOW-UP OF PKDL CASES.TO BUILD CLINICAL RESEARCH CAPACITY IN INDIA, PDS WORKED TO FURTHER DEVELOP AND IMPLEMENT A CLINICAL RESEARCH TRAINING AND MENTORSHIP PROGRAM. THIS WORK WAS DONE IN COLLABORATION WITH THREE NATIONAL CLINICAL RESEARCH RESOURCE CENTERS SPECIALIZING IN PHARMACOVIGILANCE, RESEARCH ETHICS, AND DATA MANAGEMENT.

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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 (2018)

Revenue Breakdown

Contributions & Grants $2,830,607

Program Service Revenue $0

Investment Income $141,556

Other Revenue $0

TOTAL REVENUE $2,972,163

Expense Breakdown

Grants Paid $3,194,525

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $3,542,988

Other Expenses $381,678

TOTAL EXPENSES $3,576,203

Year-over-Year Comparison

	2018	2017	Change
Revenue	$2,972,163	$201,146	+13.8%
Expenses	$3,576,203	$2,548,179	+0.4%
Net Income	$-604,040	$-2,347,033	-0.7%

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

$1,453,452

Total Directors

$2,249,013

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHEN B DAVIS	BOARD CHAIR & PRESIDENT	1.00	Officer Director	$0	$62,780	$728,657
OLIVIA D POLIUS	TREASURER & CFO	1.00	Officer Director	$0	$51,936	$372,582
DANIEL LASTER	SECRETARY	1.00	Officer Director	$0	$41,544	$352,213
DAVID C KASLOW	DIRECTOR	1.00	Director	$0	$65,678	$444,723
JORGE FLORES	DIRECTOR	1.00	Director	$0	$43,046	$350,838
KEITH CHIRGWIN	DIRECTOR	2.00	Director	$0	$0	$0
KEN DUNCAN	DIRECTOR	2.00	Director	$0	$0	$0
DAN HARTMAN	DIRECTOR	2.00	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
2018	$2,972,163	$3,576,203	No data	$-604,040