340B Health
Nonprofit profile at a glance
- EIN
- 205913680
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Washington, DC, USA
- Phone
- 2025525850
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $15,126,016
- Expenses
- $14,743,681
- Assets
- $39,250,049
- Liabilities
- $16,198,527
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
26 people listed
Executive titles in this filing
- Maureen Testoni (President and CEO)
- Amanda Nagrotsky (Vice President of Legal and Policy)
Highest reported compensation
- Maureen Testoni (President and CEO): $876,512 total reported compensation
- Tom O'Donnell (SVP of Government Relations): $402,111 total reported compensation
- Jonathan Tilton (SVP of Communications): $369,594 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of the Association is to be the leading 340B advocate and resource supporting hospitals in their mission to serve low income, underserved and rural patients.
What it reported doing in 2024
Education: 340B Health helps hospitals, health systems, pharmacies, and others understand the requirements of 340B and to facilitate compliance with its rules and regulations. 340B Health provides education through a webinar series, online tools and resources, and weekly newsletters. 340B Health also provides one-on-one technical assistance, upon members' requests. 340B Health works to keep its members and stakeholders informed about legislative and regulatory changes to 340B via various electronic communications and the www.340Bhealth.org website. 340B Health organizes the 340B coalition's annual winter and summer conferences (www.340Bwinterconference.org and www.340Bsummerconference.org) featuring discussions about compliance, other operational matters, public policy, and related activity. 340B Health provides member hospitals with information to help identify best practices in compliance and program development. Our "340B Exchange" allows hospitals to discuss emerging trends, concerns, and ideas. The organization's research helps identify examples of how hospitals are addressing key areas of health care such as social determinants of health and approaches to prevention of the misuse of opioids.
Operating model
- Revenue model
- Earned-program. 92% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 89
- Accountability: 95
- Sustainability: 46
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 2.5%; rating input score 44; 44th percentile among comparable filings
- Total-asset coverage ratio: 2.66; rating input score 71; 71st percentile among comparable filings
- Liabilities to assets ratio: 0.41; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 21.4%; rating input score 3; 3rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 8.5% per year; rating input score 100; 68th percentile among comparable filings
- Asset growth: 16.8% per year; rating input score 100; 84th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 15 of 15 board members independent · 8 of 9 filing controls reported
- Programs: 2 filed program accomplishments
- Leadership: top reported pay $877K · 26 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $2.6M reported
- Consistency: 11 of 11 current checks pass
- Schedules: 7 filed schedules · includes major donors and executive pay
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 9 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Sustainability: Operating margin scored 44/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- High — Sustainability: Officer compensation ratio scored 3/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.