NC MedAssist

What it reported doing in 2024

NC MedAssist is a nonprofit pharmacy program that provides access to lifesaving prescription medications, over the counter (OTC) medicines, patient support, advocacy, and related services to poor, vulnerable, and uninsured residents across North Carolina. During the reporting year, NC MedAssist advanced its mission through expanded partnerships, improved operational efficiency, and enhanced patient-centered programming aligned with Year 2 of its strategic plan. Within the Free Pharmacy Program, NC MedAssist continued to respond to industry-wide changes as pharmaceutical manufacturers increasingly removed donated brand-name medications from patient assistance programs. As a result, the organization absorbed rising costs to procure generic alternatives, while implementing cost-saving sourcing strategies that generated up to $100,000 in savings and expanded the availability of inhalers and other essential medications on formulary. The enrollment team achieved 100% SHIIP counseling certification, strengthening support for Medicare-eligible patients navigating coverage and cost-saving options.Through the Mobile Free Pharmacy (MFP) and Free OTC Store programs, NC MedAssist distributed more than $7.4 million in OTC medications to low-income individuals and families, serving over 42,000 people statewide. OTC medicines were received through partnerships with organizations such as Second Harvest Food Bank of Metrolina and numerous corporate and community donors. Research indicates that every $1 in OTC medicine provided prevents approximately $6 in downstream healthcare costs, reinforcing the programs significant cost-avoidance impact. Strategic partnerships also enabled expanded access to womens health screenings, vaccinations, food distribution, and disaster relief services.NC MedAssist strengthened community engagement and patient voice by launching a statewide Community Advisory Committee, hosting its first patient focus group, and implementing language access enhancements to improve medication understanding and adherence. The organization also distributed 2,598 units of Narcan through a pilot program in partnership with Mecklenburg County Alliance Health and other collaborators, addressing urgent public health needs.The Transitional Jobs Program (TJP) continued to provide paid, work-based learning opportunities for individuals facing long-term unemployment or barriers to employment. Participants developed social, business, and customer service skills to support successful workforce reentry. Additionally, NC MedAssists social workers and pharmacy teams provided over 5,600 referrals addressing social drivers of health, including smoking cessation, substance use support, housing instability, and access to care.Through these combined efforts, NC MedAssist dispensed more than $39 million prescription & more than $7 million OTC medications in value to the community and achieved over $100 million in estimated healthcare cost avoidance, while expanding access, improving efficiency, and strengthening community partnerships in alignment with its strategic goals.

Financial Efficiency

• Mission deployment rate: 98%; rating input score 98
• Program expense ratio: 98.4%; rating input score 98
• Fundraising efficiency: $138.01 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0.4%; rating input score 34; 34th percentile among comparable filings
• Total-asset coverage ratio: 0.25; rating input score 8; 8th percentile among comparable filings
• Liabilities to assets ratio: 0.12; rating input score 80; 80th percentile among comparable filings
• Officer compensation ratio: 0.6%; rating input score 82; 82nd percentile among comparable filings

Growth

• Program expense growth: 5.1% per year; rating input score 100; 41st percentile among comparable filings
• Revenue growth: 7.8% per year; rating input score 100; 65th percentile among comparable filings
• Asset growth: 8.9% per year; rating input score 100; 64th percentile among comparable filings