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← PATIENT ACCESS NETWORK FOUNDATION

Form 990 for tax year 2023

Filed by PATIENT ACCESS NETWORK FOUNDATION.

Totals

Total revenue
$374,424,371
Total expenses
$288,133,138
Contributions and grants received
$364,186,196
Grants paid
$255,391,522
Program service revenue
$0
Investment income
$10,175,747
Other revenue
$62,428
Total assets, end of year
$468,568,076
Total liabilities, end of year
$107,379,690
Net assets or fund balances, end of year
$361,188,386
Program services expenses (Part IX)
$268,960,814
Management and general expenses
$15,322,086
Fundraising expenses
$3,850,238
Program service expenses (Part III)
$268,960,814

Program services were 93.3% 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

    $364,186,196

  • 3 · Investment income

    total $14,513,052 · excluded $14,513,052

  • 6a · Gross rents

    real property $62,428

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $62,428

  • 6d · Net rental income or loss

    total $62,428 · excluded $62,428

  • 7a · Gross sales of assets other than inventory

    securities $450,508,103

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

    securities $454,840,729 · other assets $4,679

  • 7c · Gain or loss

    securities -$4,332,626 · other assets -$4,679

  • 7d · Net gain or loss

    total -$4,337,305 · excluded -$4,337,305

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $255,391,522 · program services $255,391,522

  • 5 · Compensation of officers, directors and key employees

    total $2,907,962 · program services $1,267,137 · management and general $1,363,358 · fundraising $277,467

  • 7 · Other salaries and wages

    total $8,129,379 · program services $3,187,160 · management and general $4,431,116 · fundraising $511,103

  • 8 · Pension plan contributions

    total $407,986 · program services $113,591 · management and general $276,209 · fundraising $18,186

  • 9 · Other employee benefits

    total $746,959 · program services $317,401 · management and general $381,931 · fundraising $47,627

  • 10 · Payroll taxes

    total $725,386 · program services $294,322 · management and general $379,590 · fundraising $51,474

  • 11b · Fees: legal

    total $1,992,842 · management and general $1,992,842

  • 11c · Fees: accounting

    total $472,339 · management and general $472,339

  • 11e · Fees: professional fundraising services

    total $577,705 · fundraising $577,705

  • 11f · Fees: investment management

    total $276,333 · management and general $276,333

  • 11g · Fees: other

    total $12,893,410 · program services $7,030,824 · management and general $3,546,641 · fundraising $2,315,945

  • 13 · Office expenses

    total $383,825 · program services $58,060 · management and general $316,199 · fundraising $9,566

  • 14 · Information technology

    total $1,109,916 · program services $615,182 · management and general $493,004 · fundraising $1,730

  • 16 · Occupancy

    total $414,442 · management and general $414,442

  • 17 · Travel

    total $430,500 · program services $72,061 · management and general $323,455 · fundraising $34,984

  • 19 · Conferences, conventions and meetings

    total $330,172 · program services $13,777 · management and general $311,944 · fundraising $4,451

  • 22 · Depreciation, depletion and amortization

    total $387,032 · program services $375,000 · management and general $12,032

  • 23 · Insurance

    total $330,651 · management and general $330,651

  • 24a · Other expenses: ALLIANCE EXPENSES

    total $224,777 · program services $224,777

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $110,719,572 · end of year $208,642,205

  • 3 · Pledges and grants receivable

    beginning of year $12,959,999 · end of year $58,339,999

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,680,327 · end of year $1,011,968

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

    $20,125,926

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

    $11,011,381

  • 10c · Land, buildings and equipment, net

    beginning of year $6,987,864 · end of year $9,114,545

  • 11 · Investments: publicly traded securities

    beginning of year $270,324,530 · end of year $189,307,506

  • 15 · Other assets

    beginning of year $2,519,369 · end of year $2,151,853

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,484,058 · end of year $9,898,236

  • 25 · Other liabilities

    beginning of year $125,282,494 · end of year $97,481,454

  • 27 · Net assets without donor restrictions

    beginning of year $20,867,456 · end of year $32,903,735

  • 28 · Net assets with donor restrictions

    beginning of year $246,557,653 · end of year $328,284,651

Mission and programs · 2023

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, EQUITY, 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 COVERS THE 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 2023, THE PAN FOUNDATION ASSISTED 110,520 PATIENTS, AND PAID OVER 636,000 CLAIMS FOR PATIENTS' OUT-OF-POCKET COSTS FOR THEIR CRITICAL MEDICATIONS. IN ADDITION, THE PAN FOUNDATION CONTINUES TO ADVOCATE FOR GREATER HEALTHCARE ACCESS, EQUITY, AND AFFORDABILITY. 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 $268,960,814 · Grants $255,391,522

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

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

  • James Dunlop

    SECRETARY

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

  • Mary Blunt

    DIRECTOR

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

  • Jennifer Brown

    DIRECTOR

    Total calculated
    $12,000
    From this org
    $12,000
    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

  • Mary Findley

    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

  • Nicholas Larochelle

    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

  • Howard Weinberg

    DIRECTOR

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

  • Chase Bice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Scott Schlenoff

    CFO & TREASURER

    Total calculated
    $490,633
    From this org
    $452,688
    From related orgs
    $0
    Other
    $37,945
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $271,310
    Bonus
    $28,266
    Other
    $153,112
    Deferred
    $12,329
    Nontaxable benefits
    $25,616
    Filer's total
    $490,633

  • Kevin Hagan

    PRESIDENT & CEO

    Total calculated
    $568,188
    From this org
    $529,372
    From related orgs
    $0
    Other
    $38,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $469,670
    Bonus
    $59,150
    Other
    $552
    Deferred
    $13,200
    Nontaxable benefits
    $25,616
    Filer's total
    $568,188

  • Amy Niles

    CHIEF ADVOCACY & ENGAGEMENT OFFICER

    Total calculated
    $445,541
    From this org
    $422,914
    From related orgs
    $0
    Other
    $22,627
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,734
    Bonus
    $28,620
    Other
    $155,560
    Deferred
    $5,400
    Nontaxable benefits
    $17,227
    Filer's total
    $445,541

  • Nechumah Getz

    CHIEF STRATEGY & OPERATION

    Total calculated
    $516,523
    From this org
    $502,091
    From related orgs
    $0
    Other
    $14,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $316,286
    Bonus
    $32,693
    Other
    $153,112
    Deferred
    $13,200
    Nontaxable benefits
    $1,232
    Filer's total
    $516,523

  • Andre Harrell

    CHIEF GROWTH OFFICER

    Total calculated
    $277,467
    From this org
    $261,423
    From related orgs
    $0
    Other
    $16,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $214,447
    Bonus
    $0
    Other
    $46,976
    Deferred
    $4,933
    Nontaxable benefits
    $11,111
    Filer's total
    $277,467

  • Leena Patel

    VICE PRESIDENT OF DEVELOPMENT

    Total calculated
    $387,791
    From this org
    $359,370
    From related orgs
    $0
    Other
    $28,421
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,498
    Bonus
    $21,443
    Other
    $131,429
    Deferred
    $9,569
    Nontaxable benefits
    $18,852
    Filer's total
    $387,791

  • Kishore Balasubramanya

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $386,146
    From this org
    $347,330
    From related orgs
    $0
    Other
    $38,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $329,446
    Bonus
    $17,314
    Other
    $570
    Deferred
    $13,200
    Nontaxable benefits
    $25,616
    Filer's total
    $386,146

  • Richard Citrenbaum

    VICE PRESIDENT OF OPERATIONS

    Total calculated
    $290,239
    From this org
    $255,000
    From related orgs
    $0
    Other
    $35,239
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,076
    Bonus
    $25,467
    Other
    $457
    Deferred
    $9,658
    Nontaxable benefits
    $25,581
    Filer's total
    $290,239

  • Mia Harmon

    CHIEF COMPLIANCE AND PRIVACY OFFICER

    Total calculated
    $256,292
    From this org
    $231,540
    From related orgs
    $0
    Other
    $24,752
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $221,222
    Bonus
    $10,125
    Other
    $193
    Deferred
    $7,530
    Nontaxable benefits
    $17,222
    Filer's total
    $256,292

  • Kim Baich

    CHIEF DIVERSITY & HEALTH EQUITY OFFICER

    Total calculated
    $265,923
    From this org
    $239,717
    From related orgs
    $0
    Other
    $26,206
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,423
    Bonus
    $10,330
    Other
    $964
    Deferred
    $7,354
    Nontaxable benefits
    $18,852
    Filer's total
    $265,923

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
PART I, LINES 4A-4B: SEVERANCE: ANDRE HARRELL RECEIVED SEVERANCE BENEFITS OF $46,250. THE TERMS AND CONDITIONS WERE CONSISTENT WITH INDUSTRY STANDARDS. SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: SCOTT SCHLENOFF, AMY NILES, NECHUMAH GETZ, AND LEENA PATEL 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 BECAME VESTED IN HIS OR HER BENEFIT ON DECEMBER 31, 2023, AND WERE PAID OUT THE FOLLOWING AMOUNTS FROM IT: SCOTT SCHLENOFF: $152,537 AMY NILES: $152,537 NECHUMAH GETZ: $152,537 LEENA PATEL: $131,250

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • PAN BRIGHTTRACK LLC

    PURSUE ACTIVITIES RELATED TO CLINICAL TRIALS · DE · income $0 · assets $0

    Directly controlled by PAN FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
28 May 2024
IRS schema version
2023v5.0
Source object
202421719349300227

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