Patient Access Network Foundation does not meet the following 1 Standards for Charity Accountability:
Standard 4 (Compensated Board Members)
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.
PAN Foundation does not meet this Standard because:
- 14 members out of the 14 member board of directors (100%) are compensated directly.
- The chair of the board is compensated directly.
- The treasurer of the board is compensated directly.
Patient Access Network Foundation meets the remaining 19 Standards for Charity Accountability.
The Patient Access Network Foundation (PAN Foundation) states that it helps federally and commercially insured people living with life-threatening, chronic, and rare diseases with the out-of-pocket costs for their prescribed medications. The organization partners with donors, healthcare providers, and pharmacies to make the medications and treatments available. In addition to funding individuals, PAN Foundation operates FundFinder, a free web application that tracks the status of more than 200 assistance programs that offer funds for specific conditions. In 2019, the organization reports that it provided $366 million in co-pay assistance to patients, processed 985,115 claims on behalf of patients, and assisted a total of 187,056 patients. PAN Foundation also reports that it launched a pilot transportation program to provide rides to medical appointments and pharmacies for individuals who cannot transport themselves.
For the year ended December 31, 2019, Patient Access Network Foundation's program expenses were:
Program services |
$402,208,436 |
Total Program Expenses: |
$402,208,436 |
-
Chief Executive
Daniel Klein, President and Chief Executive Officer
-
Compensation*
$429,228
-
Chair of the Board
Susan Rucker
-
Chair's Profession / Business Affiliation
Chief Financial Officer, Raymond A. Mason School of Business at the College of William & Mary
-
Board Size
14
-
Paid Staff Size
30
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Planned giving arrangements, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were <1% of related contributions. (Related contributions, which totaled $434,035,433, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Patient Access Network Foundation's audited financial statements for the year ended December 31, 2019.
Source of Funds |
Contributions |
$434,035,433 |
Investment income, net |
$17,173,579 |
Total Income |
$451,209,012 |
- Programs: 98%
- Administrative: 2%
- Fundraising: Less than 1%
Total Income |
$451,209,012 |
Program expenses |
$402,208,436 |
Fundraising expenses |
$925,257 |
Administrative expenses |
$9,377,873 |
Other expenses |
$0 |
Total expenses: |
$412,511,566 |
Income in Excess of Expenses |
$38,697,446 |
Beginning Net Assets |
$423,976,333 |
Other Changes In Net Assets |
$0 |
Ending Net Assets |
$462,673,779 |
Total Liabilities |
$149,414,448 |
Total Assets |
$612,088,227 |