Needymeds Inc
- Assets
- $906.7k
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 35
- Location
- Gloucester, MA
- Founding
- 08/2013
- Data as of
- 12/2021
- EIN
- 46-3091990
Organization Overview
Needymeds Inc is located in Gloucester, MA. The organization was established in 2013. According to its NTEE Classification (E01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Health Care and related organizations. As of 12/2021, Needymeds Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Needymeds Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Needymeds Inc generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 1.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NEEDYMEDS EDUCATES AND EMPOWERS THOSE SEEKING AFFORDABLE HEALTHCARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEEDYMEDS, INC, PROVIDES INFORMATION THAT HELPS INDIVIDUALS FIND ASSISTANCE WITH MEDICINE AND HEALTHCARE COSTS. THE WEBSITE IS A COMPREHENSIVE, CURRENT AND EASILY ACCESSIBLE RESOURCES ON PROGRAMS INCLUDING BUT NOT LIMITED TO: PHARMACEUTICAL PATIENT ASSISTANCE PROGRAMS; PROGRAMS THAT ASSIST BASED ON DIAGNOSIS; FREE/LOW COST/SLIDING SCALE CLINICS; MEDICATION DISCOUNT COUPONS; CAMPS, SCHOLARSHIPS AND RETREATS BASED ON DIAGNOSIS; AND STATE AND FEDERAL PROGRAMS. ACCESS TO ALL THE INFORMATION IS FREE AND ANONYMOUS. NEEDYMEDS, INC. ALSO OFFERS A FREE DRUG DISCOUNT CARD THAT PROVIDES SAVINGS OF UP TO 80% ON THE CASH PRICE OF PRESCRIPTION DRUGS, OVER-THE-COUNTER MEDICATIONS AND MEDICAL SUPPLIES WRITTEN AS A PRESCRIPTION AND PET PRESCRIPTION DRUGS PURCHASED AT THE PHARMACY. NEEDYMEDS ENDEAVORS TO EDUCATE ADVOCATES AND THE GENERAL PUBLIC ABOUT ALL OF THE POTENTIAL SAVINGS AVAILABLE, MEDICATION ADHERENCE AND PATIENT EMPOWERMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Sagall MD President | Officer | 40 | $167,993 |
Frederick Cowan Chair/director | OfficerTrustee | 0.5 | $0 |
Gisele M Michel Vice-Chair/director | OfficerTrustee | 0.5 | $0 |
Roberta Downey Clerk/director | OfficerTrustee | 0.5 | $0 |
Donald Maier MD Treasurer/director | OfficerTrustee | 0.5 | $0 |
Julie Erickson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $237,637 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,548 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $246,185 |
| Total Program Service Revenue | $1,754,932 |
| Investment income | $78,679 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,079,796 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,800 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $170,993 |
| Compensation of current officers, directors, key employees. | $14,760 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,175,108 |
| Pension plan accruals and contributions | $23,918 |
| Other employee benefits | $48,739 |
| Payroll taxes | $111,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,871 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $59,111 |
| Information technology | $110,944 |
| Royalties | $0 |
| Occupancy | $57,290 |
| Travel | $1,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,410 |
| Insurance | $10,778 |
| All other expenses | $32,503 |
| Total functional expenses | $2,021,634 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,641 |
| Savings and temporary cash investments | $100 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $94,511 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,932 |
| Net Land, buildings, and equipment | $129,603 |
| Investments—publicly traded securities | $554,866 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $906,653 |
| Accounts payable and accrued expenses | $190,300 |
| Grants payable | $0 |
| Deferred revenue | $17,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $207,300 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $699,353 |
| Total liabilities and net assets/fund balances | $906,653 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Needymeds Inc has recieved totaling $5,411.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $5,411 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Patientrightsadvocate Org Inc Newton, MA | $16,831,821 | $23,214,386 |
Health Leads Inc Boston, MA | $7,390,477 | $12,819,904 |
North Country Healthcare Inc Whitefield, NH | $3,297,109 | $7,107,750 |
National Latina Institute For Reproductive Justice New York, NY | $9,926,135 | $6,374,361 |
Health Care For All Inc Boston, MA | $7,303,569 | $5,595,389 |
Hospital Association Of Rhode Island Providence, RI | $1,648,804 | $2,589,217 |
New Hampshire Hospital Association Concord, NH | $4,512,482 | $2,616,289 |
Needymeds Inc Gloucester, MA | $906,653 | $2,079,796 |
Health Equity Solutions Inc Hartford, CT | $981,432 | $1,949,718 |
Planned Parenthood Empire State Acts Inc Albany, NY | $1,853,757 | $1,337,217 |
Alliance For Better Long Term Care Warwick, RI | $208,750 | $1,009,950 |
Planned Parenthood Advocacy Fund Inc Boston, MA | $812,124 | $699,803 |