Lost and Found Pharmacy Inc

Nonprofit profile at a glance

EIN
261467655
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Pittsburgh, PA, USA
Phone
4122431369
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Nursing Services (General)

Official website

Reported finances

Revenue
$2,831,856
Expenses
$2,881,733
Assets
$160,735
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Shannon Parsons (Vice President)
  • Sean Parsons (President)

Highest reported compensation

  • Shannon Parsons (Vice President): $25,823 total reported compensation
  • Sean Parsons (President): $11,476 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide financial assistance for pharmacy care to the uninsured and under-insured populations, particularly those who are the the "Medicare Gap."

What it reported doing in 2024

Health Education Seminars: Lost and Found Pharmacy provided blood pressure screenings at a community senior fair, and seminars on topics including nutrition and vaccines were conducted in conjunction with the local senior center. These events involved 3 volunteers and supplies were donated.

Operating model

Revenue model
Other-operating. 99% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

REVIEW - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 1
  • Transparency & Controls: 59
  • Accountability: 73
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 1.3%; rating input score 1
  • Program expense ratio: 1.3%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 81.8%; rating input score 82; 0th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 71.4%; rating input score 71; 12th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.8%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 14.1% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 19.8% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 1.3% of revenue deployed · 1.3% of spending went to programs
  • Governance: 5 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $36K in reported program spending
  • Leadership: top reported pay $26K · 7 people listed
  • Consistency: 38 of 40 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Financial Efficiency: Mission deployment rate scored 1/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.