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Nonprofiteer
← PATIENT ACCESS NETWORK FOUNDATION

Form 990 for tax year 2022

Filed by PATIENT ACCESS NETWORK FOUNDATION.

Totals

Total revenue
$284,201,023
Total expenses
$330,787,568
Contributions and grants received
$277,827,701
Grants paid
$298,040,691
Program service revenue
$0
Investment income
$6,373,322
Other revenue
$0
Total assets, end of year
$405,191,661
Total liabilities, end of year
$137,766,552
Net assets or fund balances, end of year
$267,425,109
Program services expenses (Part IX)
$321,134,356
Management and general expenses
$8,343,577
Fundraising expenses
$1,309,635
Program service expenses (Part III)
$321,134,356

Program services were 97.1% 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

    $277,827,701

  • 3 · Investment income

    total $7,890,347 · excluded $7,890,347

  • 7a · Gross sales of assets other than inventory

    securities $94,957,630

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

    securities $96,474,655

  • 7c · Gain or loss

    securities -$1,517,025

  • 7d · Net gain or loss

    total -$1,517,025 · excluded -$1,517,025

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $298,040,691 · program services $298,040,691

  • 5 · Compensation of officers, directors and key employees

    total $1,552,172 · program services $587,807 · management and general $964,365

  • 6 · Compensation of disqualified persons

    total $365,813 · management and general $365,813

  • 7 · Other salaries and wages

    total $5,560,279 · program services $3,370,030 · management and general $1,715,513 · fundraising $474,736

  • 8 · Pension plan contributions

    total $264,477 · program services $174,343 · management and general $66,959 · fundraising $23,175

  • 9 · Other employee benefits

    total $578,886 · program services $372,766 · management and general $158,954 · fundraising $47,166

  • 10 · Payroll taxes

    total $488,253 · program services $276,876 · management and general $177,876 · fundraising $33,501

  • 11b · Fees: legal

    total $1,146,066 · management and general $1,146,066

  • 11c · Fees: accounting

    total $438,293 · management and general $438,293

  • 11e · Fees: professional fundraising services

    total $606,117 · fundraising $606,117

  • 11f · Fees: investment management

    total $693,001 · management and general $693,001

  • 11g · Fees: other

    total $14,789,839 · program services $13,728,618 · management and general $1,023,965 · fundraising $37,256

  • 13 · Office expenses

    total $514,817 · program services $20,456 · management and general $440,371 · fundraising $53,990

  • 14 · Information technology

    total $785,478 · program services $369,445 · management and general $416,033

  • 16 · Occupancy

    total $411,283 · program services $304,349 · management and general $94,595 · fundraising $12,339

  • 17 · Travel

    total $208,365 · program services $38,850 · management and general $150,024 · fundraising $19,491

  • 19 · Conferences, conventions and meetings

    total $161,508 · program services $16,710 · management and general $142,934 · fundraising $1,864

  • 22 · Depreciation, depletion and amortization

    total $3,560,778 · program services $3,552,910 · management and general $7,868

  • 23 · Insurance

    total $340,947 · management and general $340,947

  • 24a · Other expenses: ALLIANCE EXPENSES

    total $280,505 · program services $280,505

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $101,414,537 · end of year $110,719,572

  • 3 · Pledges and grants receivable

    beginning of year $20,760,000 · end of year $12,959,999

  • 9 · Prepaid expenses and deferred charges

    beginning of year $955,227 · end of year $1,680,327

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

    $17,685,857

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

    $10,697,993

  • 10c · Land, buildings and equipment, net

    beginning of year $6,115,693 · end of year $6,987,864

  • 11 · Investments: publicly traded securities

    beginning of year $378,725,245 · end of year $270,324,530

  • 15 · Other assets

    beginning of year $0 · end of year $2,519,369

  • 17 · Accounts payable and accrued expenses

    beginning of year $14,854,822 · end of year $12,484,058

  • 25 · Other liabilities

    beginning of year $162,103,371 · end of year $125,282,494

  • 27 · Net assets without donor restrictions

    beginning of year $42,596,877 · end of year $20,867,456

  • 28 · Net assets with donor restrictions

    beginning of year $288,415,632 · end of year $246,557,653

Mission and programs · 2022

Mission

TO HELP UNDERINSURED PEOPLE WITH LIFE-THREATENING, CHRONIC AND RARE DISEASES GET THE MEDICATIONS AND TREATMENT THEY NEED BY PAYING FOR THEIR OUT-OF-POCKET COSTS AND ADVOCATING FOR IMPROVED ACCESS AND AFFORDABILITY.

  • AT THE PAN FOUNDATION, WE ENVISION A NATION IN WHICH EVERYONE CAN GET ACCESS TO THE TREATMENT THEY NEED. WITH THE SUPPORT OF OUR GENEROUS DONORS AND IN COLLABORATION WITH HEALTHCARE PROVIDERS AND PHARMACIES THROUGHOUT THE U.S., PAN IS ABLE TO COVER PREMIUMS, DEDUCTIBLES, CO-PAYMENTS AND COINSURANCE FOR THOUSANDS OF UNDERINSURED PATIENTS. AS A RESULT, THESE PATIENTS ARE ABLE TO OBTAIN THE TREATMENTS THEY NEED TO BEST MANAGE THEIR CONDITIONS AND IMPROVE THEIR QUALITY OF LIFE. IN 2022, THE PAN FOUNDATION ASSISTED 132,729 PATIENTS, AND PAID OVER 741,000 CLAIMS FOR PATIENTS' OUT-OF-POCKET COSTS FOR THEIR CRITICAL MEDICATIONS. THE PAN FOUNDATION OPERATES UNDER AN ADVISORY OPINION ISSUED BY THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, OFFICE OF THE INSPECTOR GENERAL (OIG ADVISORY OPINION 07-18).

    Expenses $321,134,356 · Grants $298,040,691

As filed on the 2022 return.

Listed in Part VII

  • Deanna Banks

    CHAIR

    Total calculated
    $16,000
    From this org
    $16,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Nancy McGee

    VICE CHAIR

    Total calculated
    $10,000
    From this org
    $10,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • James Dunlop

    SECRETARY

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Miriam Atkins

    DIRECTOR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Wendy Bullington

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Joseph D'Avella

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jonas De Souza

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mary Findley

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Christopher Graham

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jeffrey King

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Anna McKean

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Winfred Parnell

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gary Thomas

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Howard Weinberg

    DIRECTOR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Scott Schlenoff

    CFO & TREASURER

    Total calculated
    $299,197
    From this org
    $264,534
    From related orgs
    $0
    Other
    $34,663
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,241
    Bonus
    $31,945
    Other
    $348
    Deferred
    $10,358
    Nontaxable benefits
    $24,305
    Filer's total
    $299,197

  • Kevin Hagan

    PRESIDENT & CEO

    Total calculated
    $503,169
    From this org
    $465,826
    From related orgs
    $0
    Other
    $37,343
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $448,048
    Bonus
    $17,203
    Other
    $575
    Deferred
    $12,200
    Nontaxable benefits
    $25,143
    Filer's total
    $503,169

  • Amy Niles

    CHIEF ADVOCACY & ENGAGEMENT OFFICER

    Total calculated
    $271,002
    From this org
    $249,979
    From related orgs
    $0
    Other
    $21,023
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,356
    Bonus
    $31,218
    Other
    $1,405
    Deferred
    $5,100
    Nontaxable benefits
    $15,923
    Filer's total
    $271,002

  • Nechumah Getz

    CHIEF STRATEGY & OPERATIONS OFFICER

    Total calculated
    $316,805
    From this org
    $303,583
    From related orgs
    $0
    Other
    $13,222
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $264,833
    Bonus
    $38,176
    Other
    $574
    Deferred
    $12,092
    Nontaxable benefits
    $1,130
    Filer's total
    $316,805

  • Leena Patel

    VICE PRESIDENT OF DEVELOPMENT

    Total calculated
    $247,467
    From this org
    $221,640
    From related orgs
    $0
    Other
    $25,827
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,507
    Bonus
    $26,984
    Other
    $149
    Deferred
    $8,227
    Nontaxable benefits
    $17,600
    Filer's total
    $247,467

  • Ayesha Azam

    VICE PRESIDENT OF MEDICAL AFFAIRS

    Total calculated
    $306,489
    From this org
    $295,259
    From related orgs
    $0
    Other
    $11,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,935
    Bonus
    $12,441
    Other
    $150,883
    Deferred
    $4,596
    Nontaxable benefits
    $6,634
    Filer's total
    $306,489

  • Stuart Cherande-Friedman

    SENIOR DIRECTOR OF SPECIAL PROJECTS

    Total calculated
    $178,200
    From this org
    $174,304
    From related orgs
    $0
    Other
    $3,896
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $86,955
    Bonus
    $12,578
    Other
    $74,771
    Deferred
    $3,446
    Nontaxable benefits
    $450
    Filer's total
    $178,200

  • Richard Citrenbaum

    VICE PRESIDENT, PATIENT SUPPORT SERVICES

    Total calculated
    $268,288
    From this org
    $234,394
    From related orgs
    $0
    Other
    $33,894
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,503
    Bonus
    $25,782
    Other
    $109
    Deferred
    $8,750
    Nontaxable benefits
    $25,144
    Filer's total
    $268,288

  • Joel Straus

    CONTROLLER

    Total calculated
    $196,202
    From this org
    $164,241
    From related orgs
    $0
    Other
    $31,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,672
    Bonus
    $21,033
    Other
    $536
    Deferred
    $6,817
    Nontaxable benefits
    $25,144
    Filer's total
    $196,202

  • Daniel Klein

    FORMER PRESIDENT & CEO

    Total calculated
    $365,813
    From this org
    $365,813
    From related orgs
    $0
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $365,813
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $365,813

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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, LINES 4A-B
SEVERANCE: STUART CHERANDE-FRIEDMAN RECEIVED SEVERANCE BENEFITS OF $74,671. AYESHA AZAM RECEIVED SEVERANCE BENEFITS OF $63,162. SHE ALSO RECEIVED BENEFITS IN CONNECTION WITH THE RETENTION PLAN AS DESCRIBED BELOW. SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: SCOTT SCHLENOFF, AMY NILES, NECHUMAH GETZ, LEENA PATEL, AND AYESHA AZAM PARTICIPATED IN THE ORGANIZATION'S 457(F) PLAN EFFECTIVE JANUARY 1, 2020. THE BENEFIT PAYABLE TO EACH PARTICIPANT UNDER THE PLAN IS AN AMOUNT EQUAL TO 75% OF THE PARTICIPANT'S 2020 ANNUAL BASE SALARY. EACH PARTICIPANT WILL BECOME VESTED IN HIS OR HER BENEFIT ON DECEMBER 31, 2023, IF THE PARTICIPANT REMAINS CONTINUOUSLY EMPLOYED BY THE FOUNDATION ON A FULL-TIME BASIS THROUGH THAT DATE. AYESHA AZAM SEPARATED FROM THE ORGANIZATION PRIOR TO THE END OF 2022, AND RECEIVED A PRORATED AMOUNT UNDER THIS PLAN EQUAL TO $87,615.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
24 July 2023
IRS schema version
2022v5.0
Source object
202312099349301366

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