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Nonprofiteer
← WISCONSIN PHARMACY FOUNDATION INC

Form 990 for tax year 2022

Filed by WISCONSIN PHARMACY FOUNDATION INC.

Totals

Total revenue
$269,918
Total expenses
$287,091
Contributions and grants received
$219,100
Grants paid
$28,000
Program service revenue
$0
Investment income
$60,855
Other revenue
-$10,037
Total assets, end of year
$1,531,481
Total liabilities, end of year
$75,260
Net assets or fund balances, end of year
$1,456,221
Program services expenses (Part IX)
$223,145
Management and general expenses
$63,896
Fundraising expenses
$50
Program service expenses (Part III)
$223,145

Program services were 77.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $54,129

  • 1e · Government grants (contributions)

    $118,617

  • 1f · All other contributions, gifts and grants

    $46,354

  • 3 · Investment income

    total $46,108 · excluded $46,108

  • 7a · Gross sales of assets other than inventory

    securities $97,067

  • 7b · Less cost or other basis and sales expenses

    securities $82,320

  • 7c · Gain or loss

    securities $14,747

  • 7d · Net gain or loss

    total $14,747 · excluded $14,747

  • 8a · Fundraising events: gross income

    $19,770

  • 8a · Fundraising events: contributions included on line 1c

    $54,129

  • 8b · Fundraising events: direct expenses

    $29,807

  • 8c · Net income from fundraising events

    total -$10,037 · excluded -$10,037

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $23,000 · program services $23,000

  • 2 · Grants to domestic individuals

    total $5,000 · program services $5,000

  • 11a · Fees: management

    total $15,000 · management and general $15,000

  • 11c · Fees: accounting

    total $6,800 · management and general $6,800

  • 11f · Fees: investment management

    total $8,102 · management and general $8,102

  • 11g · Fees: other

    total $139,127 · program services $139,127

  • 13 · Office expenses

    total $126 · program services $71 · management and general $50 · fundraising $5

  • 19 · Conferences, conventions and meetings

    total $70,345 · program services $55,317 · management and general $15,028

  • 22 · Depreciation, depletion and amortization

    total $900 · program services $630 · management and general $225 · fundraising $45

  • 24a · Other expenses: BAD DEBT

    total $16,331 · management and general $16,331

  • 24e · All other expenses

    total $2,360 · management and general $2,360

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $332,094 · end of year $272,346

  • 3 · Pledges and grants receivable

    beginning of year $35,903 · end of year $56,579

  • 4 · Accounts receivable

    beginning of year $1,386 · end of year $924

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,000 · end of year $18,000

  • 10a · Land, buildings and equipment: cost or other basis

    $8,998

  • 10b · Land, buildings and equipment: accumulated depreciation

    $900

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $8,098

  • 11 · Investments: publicly traded securities

    beginning of year $1,308,436 · end of year $1,097,706

  • 15 · Other assets

    beginning of year $74,265 · end of year $77,828

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,793 · end of year $75,260

  • 25 · Other liabilities

    beginning of year $12,331 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $1,396,417 · end of year $1,092,919

  • 28 · Net assets with donor restrictions

    beginning of year $338,543 · end of year $363,302

Mission and programs · 2022

Mission

THE WISCONSIN PHARMACY FOUNDATION IS A NON-PROFIT, TAX-EXEMPT ORGANIZATION TO SUPPORT AND PURSUE PROFESSIONAL EDUCATION AND RESEARCH PROGRAMS TO ADVANCE THE SCIENCE AND PRACTICE OF PHARMACY. WORKING IN COORDINATION WITH PSW, THE FOUNDATION SUPPORTS UNIQUE EDUCATIONAL OPPORTUNITIES AND LEADERSHIP DEVELOPMENT FOR WISCONSIN PHARMACISTS AND STUDENT PHARMACISTS AND PURSUES PRACTICE-BASED RESEARCH PROJECTS. THE FOUNDATION ALSO PURSUES FUNDRAISING EFFORTS THROUGH GIFTS FROM PSW MEMBERS, RESEARCH GRANTS, AND OTHER CHARITABLE GIFTS TO ENABLE THE ORGANIZATION TO CONTRACT FOR SERVICES AND PURSUE ITS PROGRAMS.

Activities or mission (Part I)

SUPPORT PROFESSIONAL EDUCATION & RESEARCH PROGRAMS TO ADVANCE THE SCIENCE & PRACTICE OF PHARMACY.

  • MENTAL HEALTH PROGRAM: A CLINICAL PSYCHOLOGIST LEAD 19 WEEKLY GROUP DISCUSSIONS FOR PHARMACY PERSONNEL EXPERIENCING POOR MENTAL HEALTH CAUSED BY THE PANDEMIC. SESSIONS - UNDERSTANDING AND MANAGING ANXIETY, FEAR AND FATIGUE, DEVELOPING RESILIENCY, DEVELOPING EMOTIONAL STAMINA WHILE PROVIDING CARE DURING A PANDEMIC, UNDERSTANDING AND MANAGING COMPASSION FATIGUE, MANAGING FEAR WHILE PROVIDING CARE DURING A PANDEMIC, MANAGING STRESS DURING PHARMACY EDUCATION, PROVIDING QUALITY CARE DURING A WORKFORCE SHORTAGE. HOSTED THE "MENTAL HEALTH FIRST AID" TRAINING CERTIFICATE PROGRAM FOR 20 PHARMACISTS, AN 8-HOUR COURSE DISCUSSING SUBSTANCE USE DISORDERS, DEPRESSION, ANXIETY, TRAUMA, AND PSYCHOSIS AND TAUGHT RECOVERY AND RESILIENCY. CONDUCTED 3 EDUCATIONAL PRESENTATIONS ON - AN OVERVIEW OF RESOURCES IN SPANISH, INCLUDING MENTAL HEALTH / WELLNESS RESOURCES, CREATING A "CONTENTMENT ETHIC", FINANCIAL CONSIDERATIONS FOR ACCEPTING A NEW POSITIONS / UPON GRADUATION (FINANCES ARE MAJOR SOURCE OF STRESS). DEVELOPED AN ONLINE WEBPAGE WITH A LIST OF MENTAL HEALTH / WELLNESS SUPPORT RESOURCES. COVID 2.0 -SERVED MINORITY POPULATIONS IN 17 COUNTIES. SUPPORTED THE ORGANIZATION AND DISSEMINATION OF EDUCATIONAL PROGRAMMING FOR PHARMACY PERSONNEL TO ACTIVATE VACCINATORS TO CLOSE EQUITY GAPS IN VACCINE CONFIDENCE, MISINFORMATION, CDC RECOMMENDATIONS. REACHED OVER 300 LONG TERM CARE FACILITIES TO ASSIST IN SCHEDULING VACCINATION CLINICS IN FALL 2022; 28 FACILITIES WERE MATCHED WITH PHARMACIES TO ADMINISTER COVID BOOSTERS AND/OR FLU SHOTS. COMMUNICATION WITH OVER 4,500 PHARMACY PERSONNEL ACROSS WISCONSIN. CARDINAL PROGRAM -SUPPORTED THE DISSEMINATION OF FINDINGS AND LESSONS LEARNED FROM WORK ON OPTIMAL PRESCRIBING FOR PAIN MANAGEMENT (OPPM). CONTENT EXPERTS WERE ENGAGED TO PREPARE A TOOLKIT FOR PHARMACISTS AND COMMUNITIES LOOKING TO ENGAGE PHARMACISTS IN OPIOID ABATEMENT, MITIGATION PROGRAMS AND IN OPPM. A TOOLKIT WILL BE PUBLISHED AND DISTRIBUTED IN 2023.

    Expenses $223,145 · Grants $28,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mike Gillard

    OFFICER

    Total calculated
    $0
    Hours/week
    0.7

  • Nicholas Olson

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.7

  • Dean Gruber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7

  • Lynnae Mahaney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7

  • Steve Rough

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7

  • Matthew Mabie

    OFFICER

    Total calculated
    $0
    Hours/week
    0.7

  • Melissa Theesfeld

    OFFICER

    Total calculated
    $0
    Hours/week
    0.7 + 1 related

  • Richard Smith

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.7

  • Sarah Sorum

    TREASURER & SECRETARY

    Total calculated
    $233,215
    From this org
    $0
    From related orgs
    $200,437
    Other
    $32,778
    Hours/week
    5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $170,309 related
    Bonus
    $0 + $26,530 related
    Other
    $0 + $3,598 related
    Deferred
    $0 + $18,354 related
    Nontaxable benefits
    $0 + $14,424 related
    Filer's total
    $0 + $233,215 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE INDEPENDENT MEMBERSHIP OF THE BOARD OF DIRECTORS OF PHARMACY SOCIETY OF WISCONSIN ANNUALLY CONDUCTS A PERFORMANCE REVIEW OF THE CEO. THE CEO'S COMPENSATION IS REVIEWED AND COMPARED TO PUBLIC INFORMATION ABOUT COMPENSATION IN POSITIONS AT SIMILAR ORGANIZATIONS. THE PSW BOARD APPROVES COMPENSATION FOR THE CEO WITH AN OFFICIAL VOTE WITH DISCUSSION AND RESULTS RECORDED IN MINUTES.
PART I, LINE 4B
SARAH SORUM, CONTRIBUTION OF $14,286 TO THE 457(F) PLAN

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313189349305881

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