Pbm Accountability Project

Nonprofit profile at a glance

EIN
842122458
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$17,707,830
Expenses
$17,481,040
Assets
$262,363
Liabilities
$200

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

Leadership & pay

5 people listed

People named in this filing

  • DOUGLAS H DORITY (Trustee)
  • KENDALL MARTIN (Trustee)
  • STEVE SLEIGH (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To restore savings and affordibility for purchasers of prescription medicines by making pbms accountable for delivering the highest possible savings - that is, the most affordable prescription drug pricing - to group purchasers and individual patients

What it reported doing in 2024

Built a public educational campaign based on finding common ground between labor, employers, patients, policy makers and taxpayers committed to the mission of the pbm accountability project to hold pbms accountable for ensuring that the prescription drug market place meets the needs of patients and other purchasers of medicine.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
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. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 92
  • Accountability: 59
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.7%; rating input score 90
  • Program expense ratio: 90.9%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 10th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: 1.3%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 0.02; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 96; 96th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 43% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 40.5% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: -0% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 89.7% of revenue deployed · 90.9% of spending went to programs
  • Governance: 3 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $15.9M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 5 contractors listed · $2.3M reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization 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.

  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • High — Growth: Asset growth scored 0/100.