PAGNY Health & Research Foundation, Inc.

Legal name: Pagny Health and Research Foundation Inc

Nonprofit profile at a glance

EIN
811318522
IRS 990 coverage
2017–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024, Form 990-N 2016
Location
New York, NY, USA
Phone
(646) 672 3651
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and/or Public Policy Analysis

Official website

Reported finances

Revenue
$12,141
Expenses
$63,291
Assets
$879,055
Liabilities
$191,395

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

Leadership & pay

8 people listed

Executive titles in this filing

  • BIJAN SAFAI MD (PRESIDENT)
  • EDWARD CHEW MD (INTERIM CEO)

Highest reported compensation

  • EDWARD CHEW MD (INTERIM CEO): $774,736 total reported compensation
  • ANTHONY MIRDITA (CFO): $490,163 total reported compensation
  • BIJAN SAFAI MD (PRESIDENT): $428,636 total reported compensation

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

Overview

Mission

We provide accountable, responsive, quality care with the highest degree of sensitivity to the needs of the multicultural population that lives in our New York community.

What it reported doing in 2024

The foundation provides a strong network to support experienced, mid-career, and novice researchers who seek grants to conduct biomedical and health services research to further physician affiliate group of New York, p.c.'s, a related 501(c)(3) organization, mission of enhancing the quality of healthcare for all new yorkers. A major focus of the foundation is the study of the factors that contribute to physicians' wellness and to develop innovative programs and interventions to promote physician engagement and provide greater work-life balance and satisfaction. The foundation did not initiate any new programs and remained focused on completing and evaluating the outcomes of its existing initiatives.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 64
  • Accountability: 52
  • Sustainability: 27
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 81.6%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 50%; rating input score 50; 20th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -421.3%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 13.89; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 470.8%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -9.4% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: -24.8% per year; rating input score 0; 16th percentile among comparable filings
  • Asset growth: -9.6% per year; rating input score 0; 14th percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site
  • Where the money goes: 100% of revenue deployed · 81.6% of spending went to programs
  • Governance: 3 of 6 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $52K in reported program spending
  • Leadership: top reported pay $775K · 8 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 6 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Independent voting board scored 50/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.