Patient Access Network Foundation FY2021 filing

Tax-deductible

Washington, DC501(c)(3)Since 2004EIN 20-1184743

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To help underinsured people with life-threatening, chronic and rare diseases get the medications and treatment they need by paying for their out-of-pocket costs and advocating for improved Access and affordability.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
$2.4M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $8.9M a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.4M
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
11
named funders · $307K
Looks good: 11 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$177.0M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$310.3M
-31% vs prior year
Spent
$406.8M
To programs
98%
Net assets
$331.0M
By yearFY2020–FY2024
Revenue
$310.3M
FY2021▼ -31%
Revenue by fiscal year
FY2020$450.7M
FY2021$310.3M
FY2022$284.2M
FY2023$374.4M
FY2024$203.0M
Expenses
$406.8M
FY2021▼ -15%
Expenses by fiscal year
FY2020$477.1M
FY2021$406.8M
FY2022$330.8M
FY2023$288.1M
FY2024$164.3M
Net assets
$331.0M
FY2021▼ -24%
Net assets by fiscal year
FY2020$436.7M
FY2021$331.0M
FY2022$267.4M
FY2023$361.2M
FY2024$409.0M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $398.5M Management & general 2% · $6.8M Fundraising 0% · $1.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

24 people listed on the 990; $2.4M paid to officers and key staff.

Part VII, Section A · reportable compensation
Former President & CEO
$460,679Pt VII · Sec A
$257,827Pt VII · Sec A
CFO & Treasurer
$237,057Pt VII · Sec A
Executive Vice President
$235,635Pt VII · Sec A
Vice President of Development
$212,613Pt VII · Sec A
Vice President of Medical Affairs
$191,064Pt VII · Sec A
Senior Director of Special Projects
$166,787Pt VII · Sec A
Vice President, Patient Support Services
$166,338Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kevin Hagan$522,023$529,372$465,826$142,679—
Nechumah Getz—$502,091$303,583$257,827$227,720
Daniel Klein——$365,813$460,679$417,182
Scott Schlenoff$322,249$452,688$264,534$237,057$224,451
Amy Niles$319,173$422,914$249,979$235,635$227,989
Leena Patel—$359,370$221,640$212,613$192,500
Kishore Balasubramanya—$347,330———
Ayesha Azam——$295,259$191,064$182,950

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Pays for medication and treatment for people with serious illnesses, advocating for better access and affordability.

Provided by the organization

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1 program service account for $398.5M of program spending, described in the organization's own filed words · FY2021.
01

At the pan foundation, we envision a nation in which everyone can get access to the treatment they need. With the support of our generous donors and in collaboration with healthcare providers and pharmacies throughout the U.S., pan is able to cover premiums, deductibles, co-payments and coinsurance for thousands of underinsured patients.

$398.5Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 11 funders →
Grants paid · 5 grants · $1.5B · 2020–2024
Unitemized GrantFY2024$133,801,312
Unitemized GrantFY2023$255,391,522
Unitemized GrantFY2022$298,040,691
Unitemized GrantFY2021$380,051,359
Unitemized GrantFY2020$454,243,207

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$310.3M
Ln 12
Gifts and grantsLn 1h$297.1M
Investment incomeLn 3$13.2M
Money outPt IX
$406.8M
Ln 25
Programscol B$398.5M
Managementcol C$6.8M
Fundraisingcol D$1.5M
Owns and owesPt X
$331.0M
net assets · Ln 32
Cash and savingsLn 1–2$101.4M
Total assetsLn 16$508.0M
LiabilitiesLn 26$177.0M
PeoplePt VI, VII
24
listed · VII A
PaidVII A24
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$297.1M
Investment incomeLn 3$13.2M
Gains on assetsLn 7$4.0M
Total revenueLn 12$310.3M
Assets in detailPt X, end of year
SavingsLn 2$101.4M
Cash and savings togetherLn 1–2$101.4M
InvestmentsLn 11–13$378.7M
Land, buildings, equipmentLn 10c$6.1M
Total assetsLn 16$508.0M
LiabilitiesLn 26$177.0M
Net assetsLn 32$331.0M
OperationsPt I, VI
EmployeesI 531
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$141.4M$101.4M
InvestmentsLn 11–13$425.2M$378.7M
Land, buildings, equipmentLn 10c$2.0M$6.1M
Total assetsLn 16$621.1M$508.0M
LiabilitiesLn 26$184.4M$177.0M
Net assetsLn 32$436.7M$331.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$380.1M$380.1M
Pay of current officers, directors and key staffLn 5$1.6M$523K$1.1M
Other salaries and wagesLn 7$5.3M$3.1M$1.4M$752K
Pension plan contributionsLn 8$67K$46K$18K$4K
Other employee benefitsLn 9$948K$644K$246K$59K
Payroll taxesLn 10$510K$278K$174K$58K
Legal feesLn 11b$550K$36K$514K
Accounting feesLn 11c$248K$248K
Professional fundraising feesLn 11e$540K$540K
Investment management feesLn 11f$616K$616K
Other fees for servicesLn 11g$11.1M$9.8M$1.3M$25K
Office expensesLn 13$278K$29K$197K$52K
Information technologyLn 14$748K$226K$522K$60
OccupancyLn 16$401K$318K$72K$11K
TravelLn 17$98K$10K$87K$394
Conferences, conventions and meetingsLn 19$22K$1K$20K$748
Depreciation, depletion and amortizationLn 22$3.1M$3.1M$11K
InsuranceLn 23$312K$312K
Other expenses (24a–d)Ln 24$289K$289K
Total functional expensesLn 25$406.8M$398.5M$6.8M$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $203.0M$164.3M$38.8M$409.0M 990 PDF
FY2023 $374.4M$288.1M$86.3M$361.2M 990 PDF
FY2022 $284.2M$330.8M−$46.6M$267.4M 990 PDF
FY2021 Viewing $310.3M$406.8M−$96.5M$331.0M 990 PDF
FY2020 $450.7M$477.1M−$26.4M$436.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $310,279,884 across 5 lines filed
VIII-1f All other contributions, gifts and grants$297,101,560
VIII-1h Total contributions, gifts and grants$297,101,560
VIII-3 Investment incomeExcluded from tax $9,226,883$9,226,883
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,951,441$3,951,441
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $13,178,324$310,279,884
Part IX · Statement of functional expenses $406,772,925 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $380,051,359$380,051,359
IX-5 Pay of current officers, directors and key staffPrograms $522,588 · Management $1,052,712$1,575,300
IX-7 Other salaries and wagesPrograms $3,109,061 · Management $1,389,817 · Fundraising $752,329$5,251,207
IX-8 Pension plan contributionsPrograms $45,777 · Management $17,500 · Fundraising $4,171$67,448
IX-9 Other employee benefitsPrograms $643,536 · Management $246,019 · Fundraising $58,640$948,195
IX-10 Payroll taxesPrograms $277,821 · Management $174,154 · Fundraising $57,553$509,528
IX-11b Legal feesPrograms $36,276 · Management $513,556$549,832
IX-11c Accounting feesManagement $247,749$247,749
IX-11e Professional fundraising feesFundraising $540,483$540,483
IX-11f Investment management feesManagement $616,179$616,179
IX-11g Other fees for servicesPrograms $9,824,375 · Management $1,284,082 · Fundraising $24,648$11,133,105
IX-13 Office expensesPrograms $29,235 · Management $197,082 · Fundraising $51,786$278,103
IX-14 Information technologyPrograms $226,157 · Management $521,732 · Fundraising $60$747,949
IX-16 OccupancyPrograms $318,083 · Management $71,914 · Fundraising $11,064$401,061
IX-17 TravelPrograms $9,770 · Management $87,470 · Fundraising $394$97,634
IX-19 Conferences, conventions and meetingsPrograms $1,311 · Management $20,332 · Fundraising $748$22,391
IX-22 Depreciation, depletion and amortizationPrograms $3,123,056 · Management $10,920$3,133,976
IX-23 InsuranceManagement $312,004$312,004
IX-24 Other expenses (24a–d)Programs $289,422$289,422
IX-25 Total functional expensesPrograms $398,507,827 · Management $6,763,222 · Fundraising $1,501,876$406,772,925
Part X · Balance sheet $507,970,702 assets, 13 lines filed
X-2 Savings and temporary cash investmentsStart of year $141,398,137$101,414,537
X-3 Pledges and grants receivableStart of year $51,791,285$20,760,000
X-9 Prepaid expenses and deferred chargesStart of year $701,822$955,227
X-10c Land, buildings and equipment, netStart of year $1,997,574$6,115,693
X-11 Publicly traded securitiesStart of year $425,171,811$378,725,245
X-16 Total assetsStart of year $621,060,629$507,970,702
X-17 Accounts payable and accrued expensesStart of year $15,030,637$14,854,822
X-25 Other liabilitiesStart of year $169,370,182$162,103,371
X-26 Total liabilitiesStart of year $184,400,819$176,958,193
X-27 Net assets without donor restrictionsStart of year $41,456,591$42,596,877
X-28 Net assets with donor restrictionsStart of year $395,203,219$288,415,632
X-32 Total net assets or fund balancesStart of year $436,659,810$331,012,509
X-33 Total liabilities and net assetsStart of year $621,060,629$507,970,702
Part XI · Reconciliation of net assets $331,012,509 net assets at year end
XI-1 Total revenue$310,279,884
XI-2 Total expenses$406,772,925
XI-3 Revenue less expenses−$96,493,041
XI-4 Net assets at start of year$436,659,810
XI-5 Net unrealized gains (losses) on investments−$9,154,260
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$331,012,509

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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