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← PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA FND INC

Form 990 for tax year 2023

Filed by PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA FND INC.

Totals

Total revenue
$4,244,730
Total expenses
$4,366,003
Contributions and grants received
$3,576,216
Grants paid
$2,952,608
Program service revenue
$0
Investment income
$668,514
Other revenue
$0
Total assets, end of year
$24,481,309
Total liabilities, end of year
$404,521
Net assets or fund balances, end of year
$24,076,788
Program services expenses (Part IX)
$3,820,214
Management and general expenses
$542,476
Fundraising expenses
$3,313
Program service expenses (Part III)
$3,820,214

Program services were 87.5% 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.

  • 1f · All other contributions, gifts and grants

    $3,576,216

  • 3 · Investment income

    total $496,762 · unrelated business $0 · excluded $496,762

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $5,571,485

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

    securities $5,399,733

  • 7c · Gain or loss

    securities $171,752

  • 7d · Net gain or loss

    total $171,752 · excluded $171,752

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $206,000 · program services $206,000

  • 2 · Grants to domestic individuals

    total $2,746,608 · program services $2,746,608

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $544,288 · program services $377,264 · management and general $167,024

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $334,773 · program services $232,043 · management and general $102,730

  • 8 · Pension plan contributions

    total $68,411 · program services $47,418 · management and general $20,993

  • 9 · Other employee benefits

    total $58,851 · program services $40,792 · management and general $18,059

  • 10 · Payroll taxes

    total $45,681 · program services $31,663 · management and general $14,018

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $32,011 · management and general $32,011

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $22,013 · management and general $22,013

  • 11g · Fees: other

    total $163,297 · program services $28,650 · management and general $134,647

  • 12 · Advertising and promotion

    total $18,633 · program services $18,633

  • 13 · Office expenses

    total $1,699 · program services $1,527 · management and general $172

  • 14 · Information technology

    total $32,243 · program services $26,206 · management and general $6,037

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $29,969 · program services $19,987 · management and general $9,982

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $23,590 · program services $22,838 · management and general $752

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $5,454 · program services $3,780 · management and general $1,674

  • 23 · Insurance

    total $8,735 · program services $6,055 · management and general $2,680

  • 24a · Other expenses: DUES/PUBLICATIONS/PROJECTS

    total $15,591 · program services $10,750 · management and general $1,528 · fundraising $3,313

  • 24b · Other expenses: BANK/PAYROLL CHARGES

    total $8,156 · management and general $8,156

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,182,721 · end of year $1,396,883

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,531 · end of year $20,886

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

    $98,178

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

    $5,454

  • 10c · Land, buildings and equipment, net

    end of year $92,724

  • 11 · Investments: publicly traded securities

    beginning of year $20,572,973 · end of year $22,970,816

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,421,900 · end of year $374,751

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $45,234 · end of year $29,770

  • 27 · Net assets without donor restrictions

    beginning of year $21,320,091 · end of year $24,076,788

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

THE PHRMA FOUNDATION WORKS TO IMPROVE PUBLIC HEALTH BY PROACTIVELY INVESTING IN INNOVATIVE RESEARCH, EDUCATION AND VALUE-DRIVEN HEALTH CARE.

Activities or mission (Part I)

SEE SCHEDULE O

  • DRUG DISCOVERY - SUPPORTS EARLY CAREER RESEARCHERS WHOSE RESEARCH CAN HELP ACCELERATE BIOLOGICAL VALIDATION OF POTENTIAL DRUG TARGETS, SIGNALING PATHWAYS, OR MECHANISMS OF DISEASE.

    Expenses $1,007,676 · Grants $799,168

  • VALUE ASSESSMENT-HEALTH OUTCOMES RESEARCH - SUPPORTS RESEARCHERS INVESTIGATING CHALLENGES IN EVALUATING THE DELIVERY, SAFETY, EFFECTIVENESS, AND VALUE OF HEALTH CARE INTERVENTIONS.

    Expenses $1,035,926 · Grants $797,500

  • DRUG DELIVERY - SUPPORTS EARLY CAREER RESEARCHERS STUDYING WAYS TO OPTIMIZE DRUG COMPOSITION, DOSAGE, AND DELIVERY TO MAKE TREATMENTS SAFER, MORE EFFECTIVE, AND EASIER TO MANAGE FOR PATIENTS.

    Expenses $847,377 · Grants $677,500

  • TRANSLATIONAL MEDICINE

    Expenses $621,230 · Grants $492,440

  • DIGITAL HEALTH TECHNOLOGIES

    Expenses $218,716 · Grants $175,000

  • Other Programs

    Expenses $89,289 · Grants $11,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Amy Miller

    PRESIDENT

    Total calculated
    $544,288
    From this org
    $473,105
    From related orgs
    $0
    Other
    $71,183
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $341,978
    Bonus
    $128,989
    Other
    $2,138
    Deferred
    $33,000
    Nontaxable benefits
    $38,183
    Filer's total
    $544,288

  • Emily Ortman

    Senior Director

    Total calculated
    $238,354
    From this org
    $181,481
    From related orgs
    $0
    Other
    $56,873
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $155,971
    Bonus
    $22,881
    Other
    $2,629
    Deferred
    $17,372
    Nontaxable benefits
    $39,501
    Filer's total
    $238,354

  • Joanne Westphal

    Director

    Total calculated
    $205,759
    From this org
    $171,183
    From related orgs
    $0
    Other
    $34,576
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $148,596
    Bonus
    $19,115
    Other
    $3,472
    Deferred
    $17,541
    Nontaxable benefits
    $17,035
    Filer's total
    $205,759

  • Andrew Plump MD PhD

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Iris Loew-Friedrich MD

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • George Addona PhD

    Director

    Total calculated
    $0
    Hours/week
    1

  • Aida Habtezion MD MSc FRCP

    Director

    Total calculated
    $0
    Hours/week
    1

  • Aran Maree MB BCH MRCIP

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Plenge MD PhD

    Director

    Total calculated
    $0
    Hours/week
    1

  • Maha Radhakrishnan MD

    Director

    Total calculated
    $0
    Hours/week
    1

  • Daniel Skovronsky MD PhD

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Creed MD PHD

    Director (thru 2/28/2023)

    Total calculated
    $0
    Hours/week
    1

  • Rupert Vessey MA BM BCh

    Director (thru 6/4/2023)

    Total calculated
    $0
    Hours/week
    1

  • Lori Reilly Esq

    Ex Officio member

    Total calculated
    $0
    Hours/week
    1

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

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

SCHEDULE J, PART I, LINE 1:
One first class airline ticket was purchased for the President in 2023. This was a last minute ticket, cheaper than coach seats on sale at that late date. This amount was not included in taxable compensation.

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

Provenance

Return type
form_990
Tax year
2023
Filed
18 June 2024
IRS schema version
2023v5.0
Source object
202421709349300747

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