Partnership For Safe Medicines Inc
- Assets
- $541.6k
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 02/2009
- Data as of
- 12/2021
- EIN
- 56-2529660
Organization Overview
Partnership For Safe Medicines Inc is located in Washington, DC. The organization was established in 2009. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Partnership For Safe Medicines Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Partnership For Safe Medicines Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.2% each year . All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 35.1% 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.
Since 2017, Partnership For Safe Medicines Inc has awarded 20 individual grants totaling $1,639,350. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PARTNERSHIP FOR SAFE MEDICINES (PSM) IS A PUBLIC HEALTH GROUP COMMITTED TO THE SAFETY OF PRESCRIPTION DRUGS AND EDUCATING ITS MEMBERS AND THE PUBLIC AGAINST COUNTERFEIT, SUBSTANDARD OR OTHERWISE UNSAFE MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PATIENT AND PUBLIC EDUCATION
LAW ENFORCEMENT EDUCATION
HEALTHCARE PROFESSIONAL EDUCATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Kubic Vice President | OfficerTrustee | 2 | $10,000 |
Marvin Shepherd President | OfficerTrustee | 2 | $10,000 |
Kenneth Mccall Vice President | OfficerTrustee | 2 | $10,000 |
Shabbir Safdar Treasurer/secretary | OfficerTrustee | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Safdar Group Consulting | 12/30/21 | $879,347 |
Context Strategies Consulting | 12/30/21 | $420,000 |
Venture Global Consulting | 12/30/21 | $509,009 |
Ballard Spahr Llp Legal Services | 12/30/21 | $665,738 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,151,117 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,151,117 |
| Total Program Service Revenue | $0 |
| Investment income | $196 |
| 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 | $3,151,313 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $360,336 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $668,276 |
| Fees for services: Accounting | $35,816 |
| Fees for services: Lobbying | $37,759 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,814,636 |
| Advertising and promotion | $22,500 |
| Office expenses | $247 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $9,775 |
| All other expenses | $51,000 |
| Total functional expenses | $3,000,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $541,627 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $541,627 |
| Accounts payable and accrued expenses | $37,442 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $37,442 |
| Net assets without donor restrictions | $504,185 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $541,627 |
Grants Awarded
Over the last fiscal year, Partnership For Safe Medicines Inc has awarded $206,000 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: CONTRIBUTION | $48,000 |
Alexandria, VA PURPOSE: CONTRIBUTION | $36,000 |
N Chesterfield, VA PURPOSE: CONTRIBUTION | $30,000 |
Washington, DC PURPOSE: CONTRIBUTION | $30,000 |
Alexandria, VA PURPOSE: CONTRIBUTION | $20,000 |
Austin, TX PURPOSE: CONTRIBUTION | $17,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Personal Care Products Council Washington, DC | $26,566,920 | $19,071,135 |
American Hotel & Lodging Association Directory Corporation Washington, DC | $39,158,961 | $23,973,024 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
International Masonry Institute Bowie, MD | $25,662,049 | $19,254,775 |
Association For Financial Professionals Inc Bethesda, MD | $30,134,135 | $15,069,162 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Plastics Industry Association Inc Washington, DC | $19,265,703 | $12,261,158 |
Aerospace Industries Association Of America Inc Arlington, VA | $34,239,387 | $18,520,879 |