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Pharmaceutical Supply Chain Initiative

Not tax-deductible

Philadelphia, PA501(c)(6)Community Development EIN 90-1069596Revenue $1.2M in FY2024

On file with the IRSpscinitiative.org1 Logan Sq Ste 2000, 19103-6996 · Philadelphia, PATax-exempt since Jun 2014

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501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 6 volunteers.
Status: IRS Pub. 78 · People: Part I, lines 5–6

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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
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
3 of 5
filings with a surplus
Average surplus $4K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$561K
50% of total assets
Looks good: liabilities are 50% 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
$1.2M
-37% vs prior year
Spent
$1.5M
To programs
0%
Net assets
$554K
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▼ -37%
Tap a bar for its year
Revenue by fiscal year
FY2020$811K
FY2021$969K
FY2022$1.1M
FY2023$1.9M
FY2024$1.2M
Expenses
$1.5M
FY2024▲ +1.0%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.0M
FY2021$945K
FY2022$1.1M
FY2023$1.5M
FY2024$1.5M
Net assets
$554K
FY2024▼ -31%
Tap a bar for its year
Net assets by fiscal year
FY2020$277K
FY2021$302K
FY2022$305K
FY2023$804K
FY2024$554K

From the FY2024 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 Jun 2014.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Enric Bosch
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rincy Joseph
Secretary
$0Pt VII · Sec A
Robert Williams
Vice Chair
$0Pt VII · Sec A
See Pharmaceutical Supply Chain Initiative 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

Pharmaceutical Supply Chain Initiative is a business league or trade association based in Philadelphia, PA.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Held in person and virtual conferences taking place over a total of 9 days to suppliers in the pharmaceutical and healthcare industry, and delivered 10,000 hours of virtual training to over 3,600 suppliers via webinars and online learning content to a global supplier audience.

Pt IX · col B
02

Held two hybrid member meetings sharing industry best practice and advancing strategic organizational aims across a range of health & safety, social, and environmental topics with the growing membership.

Pt IX · col B
03

Administered a shared audit platform and responsible auditing protocol to drive efficiency and best practice across the industry.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$22
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$554K
net assets · Ln 32
Cash and savingsLn 1–2$993K
Total assetsLn 16$1.1M
LiabilitiesLn 26$561K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$22
Gains on assetsLn 7−$303
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$773K
SavingsLn 2$220K
Cash and savings togetherLn 1–2$993K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$1.1M
LiabilitiesLn 26$561K
Net assetsLn 32$554K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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$973K$993K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$327K$561K
Net assetsLn 32$804K$554K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$585K
Legal feesLn 11b$29K
Accounting feesLn 11c$54K
Other fees for servicesLn 11g$667K
Advertising and promotionLn 12$5K
TravelLn 17$844
Conferences, conventions and meetingsLn 19$149K
Depreciation, depletion and amortizationLn 22$40K
Other expenses (24a–d)Ln 24−$64K
All other expensesLn 24e$6K
Total functional expensesLn 25$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.5M−$250K$554K 990 PDF
FY2023 $1.9M$1.5M$473K$804K 990 PDF
FY2022 $1.1M$1.1M$2K$305K 990 PDF
FY2021 $969K$945K$25K$302K 990 PDF
FY2020 $811K$1.0M−$228K$277K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,221,649 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,930,697$1,221,930
I-10 Investment incomePrior year −$161−$281
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,930,536$1,221,649
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 $1,457,598$1,471,810
I-18 Total expensesPrior year $1,457,598$1,471,810
I-19 Revenue less expensesPrior year $472,938−$250,161
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 $1,221,649 across 6 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,221,930$1,221,930
VIII-3 Investment incomeExcluded from tax $22$22
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$303−$303
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $1,221,930 · Unrelated business $0 · Excluded from tax −$281$1,221,649
Part IX · Statement of functional expenses $1,471,810 across 10 lines filed
IX-11a Management fees$585,270
IX-11b Legal fees$29,002
IX-11c Accounting fees$54,281
IX-11g Other fees for services$667,018
IX-12 Advertising and promotion$4,757
IX-17 Travel$844
IX-19 Conferences, conventions and meetings$149,064
IX-22 Depreciation, depletion and amortization$39,652
IX-24 Other expenses (24a–d)−$63,951
IX-24e All other expenses$5,873
IX-25 Total functional expenses$1,471,810
Part X · Balance sheet $1,114,948 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $752,595$773,237
X-2 Savings and temporary cash investmentsStart of year $220,068$220,090
X-4 Accounts receivableStart of year $114,692$120,132
X-9 Prepaid expenses and deferred chargesStart of year $16,092$1,489
X-10c Land, buildings and equipment, netStart of year $0$0
X-14 Intangible assetsStart of year $27,187$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $1,130,634$1,114,948
X-17 Accounts payable and accrued expensesStart of year $211,798$146,118
X-19 Deferred revenueStart of year $114,779$414,934
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $326,577$561,052
X-27 Net assets without donor restrictionsStart of year $804,057$553,896
X-32 Total net assets or fund balancesStart of year $804,057$553,896
X-33 Total liabilities and net assetsStart of year $1,130,634$1,114,948
Part XI · Reconciliation of net assets $553,896 net assets at year end
XI-1 Total revenue$1,221,649
XI-2 Total expenses$1,471,810
XI-3 Revenue less expenses−$250,161
XI-4 Net assets at start of year$804,057
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$553,896

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

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