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Phact-Mi INC FY2024 filing

Not tax-deductible

Gainesville, FL501(c)(6)Community DevelopmentEIN 47-2715845Revenue $1.8M in FY2024

On file with the IRSphactmi.org5931 Nw 1st Pl, 32607-2063 · Gainesville, FLTax-exempt since Jun 2021

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Phact-Mi, INC. Is a collaboration of medical information departments across the pharmaceutical industry. The members of Phact-Mi, INC. Have collaborated to provide healthcare professionals (hcps) access to medical information across their organizations through a single point of access to address hcps' growing needs for transparent medical information.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $449K a year · 22% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+1% vs prior year
Spent
$2.5M
To programs
100%
Net assets
$788K
By yearFY2021–FY2025
Revenue
$1.8M
FY2024▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.0M
FY2022$1.8M
FY2023$1.8M
FY2024$1.8M
FY2025$2.6M
Expenses
$2.5M
FY2024▼ -10%
Tap a bar for its year
Expenses by fiscal year
FY2021$1.9M
FY2022$2.7M
FY2023$2.8M
FY2024$2.5M
FY2025$2.4M
Net assets
$788K
FY2024▼ -47%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.4M
FY2022$2.5M
FY2023$1.5M
FY2024$788K
FY2025$1.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2021.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $2.5M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Stacey Fung
Past President
$0Pt VII · Sec A
Mary Sendi
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A
Kristin Goettner
Vice President
$0Pt VII · Sec A
Alicia Cadogan
Director of Insights
$0Pt VII · Sec A
Michael Deluca
Director of Partnerships
$0Pt VII · Sec A
Cynthia Ramirez
Director of Compliance, Until 7/2024
$0Pt VII · Sec A
See Phact-Mi INC executive salaries →

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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 15aNo

Programs and updates

Connects healthcare professionals to pharmaceutical medical information through a single access point.

Questions for Phact-Mi INC

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Provided by the organization

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1 program · $2.5M · in their own filed words · FY2024
01

Phact-mi is a collaboration of pharmaceutical company medical information (mi) leaders that are dedicated to supporting healthcare professionals in their commitment to provide quality patient care.

$2.5Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$28K
Money outPt IX
$2.5M
Ln 25
Programscol B$2.5M
Owns and owesPt X
$788K
net assets · Ln 32
Cash and savingsLn 1–2$199K
Total assetsLn 16$788K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$28K
Gains on assetsLn 7$5K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$54K
SavingsLn 2$145K
Cash and savings togetherLn 1–2$199K
InvestmentsLn 11–13$589K
Total assetsLn 16$788K
LiabilitiesLn 26$0
Net assetsLn 32$788K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6320
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$954K$199K
InvestmentsLn 11–13$537K$589K
Total assetsLn 16$1.5M$788K
LiabilitiesLn 26$0$0
Net assetsLn 32$1.5M$788K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$488K
Legal feesLn 11b$5K
Accounting feesLn 11c$23K
Investment management feesLn 11f$9K
Other fees for servicesLn 11g$509K
Advertising and promotionLn 12$535K
Office expensesLn 13$8K
Information technologyLn 14$699K
TravelLn 17$4K
Conferences, conventions and meetingsLn 19$241K
InterestLn 20$25
Other expenses (24a–d)Ln 24$11K
Total functional expensesLn 25$2.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.6M$2.4M$254K$1.1M 990 PDF
FY2024 Viewing $1.8M$2.5M−$739K$788K 990 PDF
FY2023 $1.8M$2.8M−$1.0M$1.5M 990 PDF
FY2022 $1.8M$2.7M−$869K$2.5M 990 PDF
FY2021 $2.0M$1.9M$156K$3.4M 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 FY2024 990 (6 parts)
Part I · Summary $1,792,871 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,725,000$1,765,000
I-10 Investment incomePrior year $42,451$27,871
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,767,451$1,792,871
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,815,444$2,531,420
I-18 Total expensesPrior year $2,815,444$2,531,420
I-19 Revenue less expensesPrior year −$1,047,993−$738,549
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $1,792,871 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,765,000$1,765,000
VIII-3 Investment incomeExcluded from tax $22,396$22,396
VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,475$5,475
VIII-12 Total revenueRelated to mission $1,765,000 · Unrelated business $0 · Excluded from tax $27,871$1,792,871
Part IX · Statement of functional expenses $2,531,420 across 12 lines filed
IX-11a Management fees$487,506
IX-11b Legal fees$5,214
IX-11c Accounting fees$22,775
IX-11f Investment management fees$8,526
IX-11g Other fees for services$508,963
IX-12 Advertising and promotion$535,154
IX-13 Office expenses$7,854
IX-14 Information technology$699,230
IX-17 Travel$3,784
IX-19 Conferences, conventions and meetings$240,970
IX-20 Interest$25
IX-24 Other expenses (24a–d)$11,419
IX-25 Total functional expenses$2,531,420
Part X · Balance sheet $787,516 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $286,915$54,046
X-2 Savings and temporary cash investmentsStart of year $666,717$144,750
X-11 Publicly traded securitiesStart of year $537,051$588,720
X-16 Total assetsStart of year $1,490,683$787,516
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,490,683$787,516
X-32 Total net assets or fund balancesStart of year $1,490,683$787,516
X-33 Total liabilities and net assetsStart of year $1,490,683$787,516
Part XI · Reconciliation of net assets $787,516 net assets at year end
XI-1 Total revenue$1,792,871
XI-2 Total expenses$2,531,420
XI-3 Revenue less expenses−$738,549
XI-4 Net assets at start of year$1,490,683
XI-7 Investment expenses$35,382
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$787,516

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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