Overview
What is Patients For Affordable Drugs?
Patients For Affordable Drugs is a financially independent, patient-centric nonprofit organization, situated in Washington, D.C. Their primary mission is to advocate for affordable drug prices, educating the public, patients, and key stakeholders about the challenges associated with the current drug development and pricing framework. By raising the voices of patients and their families, this organization aims to empower them to participate in discussions and work towards reforms in both the private and public sectors of drug pricing in the United States. The nonprofit operates with 14 employees, dedicated to promoting health and addressing the concerns of individuals affected by high drug prices.
Official website here: www.patientsforaffordabledrugs.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80%, Three-Star out of Four Star rating.
Patients For Affordable Drugs has earned a commendable rating of 80%, indicating a solid performance in accountability and finance. The organization has received full points for having a board made up entirely of independent members, and their financial oversight is robust with no material diversion of assets reported. Additionally, they have a high program expense ratio of 90.19%, meaning the majority of their funds are directed towards their mission.
However, there are several areas where the organization could improve. Notably, the lack of a conflict of interest policy, whistleblower policy, and document retention and destruction policy has resulted in lower scores in those categories. Furthermore, while their fundraising efficiency ratio shows a low cost of fundraising, this could raise concerns about their ability to efficiently generate funds in the future.
Overall, while Patients For Affordable Drugs demonstrates strong financial management and commitment to their mission, the absence of certain governance policies suggests that enhancing their accountability frameworks could further strengthen their organizational credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Patients For Affordable Drugs legitimate?
Patients For Affordable Drugs is a legitimate nonprofit organization registered as a 501(c)(3) entity. Patients For Affordable Drugs submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $412,167
Professional Fundraising Fees: $0
Other Salaries and Wages: $594,231
For more financial information, click here
Official website here: www.patientsforaffordabledrugs.org
What is the mission statement of Patients For Affordable Drugs?
Patients For Affordable Drugs is an organization with a mission to promote health by advocating for patients and their families on the issue of high drug prices. Their goal is to educate these individuals about their role in the discussion and work towards reforming the drug pricing system in both the private and public sectors in the United States. The organization's general program involves building a patient-centered coalition that is financially independent from any pharmaceutical industry support, with the aim of educating the public, patients, and key stakeholders about the challenges patients face under the current drug development and pricing framework.
Official website here: www.patientsforaffordabledrugs.org
What is the revenue of Patients For Affordable Drugs?
Patients For Affordable Drugs's revenue in 2023 was $2,318,017.
Official website here: www.patientsforaffordabledrugs.org
Who are the executives of Patients For Affordable Drugs and what are their salaries?
The average compensation at Patients For Affordable Drugs during 2023 was $71,886. There are 14 employees and 6 volunteers at Patients For Affordable Drugs.
Here are 7 key members and their salaries:
- Compensation: $225,650
- Related: $0
- Other: $7,569
- Compensation: $180,513
- Related: $0
- Other: $21,818
- Compensation: $102,333
- Related: $0
- Other: $4,657
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.patientsforaffordabledrugs.org
Where can I find the form 990 for Patients For Affordable Drugs?
Patients For Affordable Drugs's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.patientsforaffordabledrugs.org
Learn more at the official website: www.patientsforaffordabledrugs.org
Mission Statement of Patients For Affordable Drugs
Patients For Affordable Drugs, a patient-centered coalition, aims to promote health and wellbeing by elevating the voices of patients and their families in the discourse surrounding the high costs of prescription drugs. This nonprofit organization strives to educate these individuals about their role in shaping reforms to the United States' drug pricing system, both in the private and public sectors. The coalition's mission is to build a financially independent network, free from pharmaceutical industry support, that advocates for public awareness and engagement in the challenges patients face under the current drug development and pricing framework. By doing so, Patients For Affordable Drugs seeks to foster a more equitable and accessible drug pricing landscape for all.
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Impact
July, 2024
Patients For Affordable Drugs has made a significant impact by advocating for lower drug prices and raising awareness about the challenges patients face due to high drug costs. Through their patient-centered coalition, they have empowered individuals to be part of the discussion on drug pricing reforms in both the private and public sectors. By amplifying the voices of patients and their families, Patients For Affordable Drugs has helped drive changes in the US healthcare system to make medications more accessible and affordable for all.
This information is meant to be a general summary of Patients For Affordable Drugs. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $40
- Program Service Revenue: $40,000
- Gross Receipts: $2,318,017
Assets and Liabilities:
- Total Assets: $344,432
- Total Liabilities: $58,323
- Net Assets: $286,109
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING
Revenue
$40,000
Organization Details
Founding Year
2016
Principal Officer
David Mitchell
NTEE Category
Code: E01 - Health
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