340b Health
- Assets
- $25.5m
- Revenue
- $9.8m
- Investments
- $0.0
- Employees
- 29
- Location
- Washington, DC
- Founding
- 08/2007
- Data as of
- 12/2021
- EIN
- 20-5913680
Organization Overview
340b Health is located in Washington, DC. The organization was established in 2007. 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. As of 12/2021, 340b Health employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 340b Health 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, 340b Health generated $9.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $8.5m during the year ending 12/2021. While expenses have increased by 2.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A NATION WHERE HOSPITALS AND HEALTH SYSTEMS FULFILL THEIR...SEE SCHEDULE O CONTINUED FROM PAGE 1...MISSION TO PROVIDE CARE FOR PATIENTS WITH LOW INCOME AND THOSE LIVING IN RURAL COMMUNITIES, 340B HEALTH IS THE LEADING ADVOCATE & RESOURCE FOR THOSE HOSPITALS THAT SERVE THEIR COMMUNITIES THROUGH PARTICIPATION IN THE FEDERAL 340B DRUG PRICING PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION - 340B HEALTH HELPS HOSPITALS, HEALTH SYSTEMS, PHARMACIES, AND OTHERS UNDERSTAND THE REQUIREMENTS OF 340B AND HELP THEM COMPLY WITH ITS RULES AND REGULATIONS. 340B HEALTH PROVIDES EDUCATION THROUGH TWO ANNUAL NATIONAL CONFERENCES, A WEBINAR SERIES, AND ONLINE TOOLS AND RESOURCES. 340B HEALTH ALSO PROVIDES ONE-ON-ONE TECHNICAL ASSISTANCE, UPON MEMBERS' REQUESTS. 340B HEALTH ALSO WORKS TO KEEP ITS MEMBERS AND STAKEHOLDERS INFORMED ABOUT LEGISLATIVE AND REGULATORY CHANGES TO 340B VIA VARIOUS ELECTRONIC COMMUNICATIONS AND THE WWW.340BHEALTH.ORG WEBSITE. 340B HEALTH ORGANIZES THE 340B COALITION'S ANNUAL WINTER AND SUMMER CONFERENCES (WWW.340BWINTERCONFERENCE.ORG AND WWW.340BSUMMERCONFERENCE.ORG) FEATURING DISCUSSIONS ABOUT COMPLIANCE...SEE SCHEDULE OCONTINUED FROM PAGE 2...AND OTHER OPERATIONAL MATTERS AND PUBLIC POLICY AND RELATED ACTIVITY.
ADVOCACY - 340B HEALTH WORKS WITH AND ON BEHALF OF OUR MEMBERS TO REPRESENT THEIR INTERESTS AND CONCERNS BEFORE THE CONGRESS, THE EXECUTIVE BRANCH, THE COURTS, AND STATE LEGISLATURES TO HELP POLICYMAKERS UNDERSTAND THE 340B DRUG PRICING PROGRAM'S REQUIREMENTS, VALUE AND ROLE IN ADVANCING HEALTHY PATIENTS AND COMMUNITIES. 340B HEALTH CONDUCTS INDEPENDENT RESEARCH REGARDING THE IMPACT AND EFFECTIVENESS OF THE 340B PROGRAM AND WORKS WITH ITS MEMBERS TO CREATE PROFILES OF HOW 340B SAVINGS ARE USED TO IMPROVE PATIENT CARE AND COVER THE COST OF UNCOMPENSATED AND UNREIMBURSED PATIENT CARE. 340B HEALTH ADVOCATES FOR CHANGES IN POLICY NECESSARY TO IMPROVE THE PROGRAM AND ITS IMPACT. 340B HEALTH PROVIDES MEMBER HOSPITALS WITH INFORMATION TO HELP IDENTIFY BEST PRACTICES IN COMPLIANCE...SEE SCHEDULE OCONTINUED FROM PAGE 2...AND PROGRAM DEVELOPMENT. OUR "340B EXCHANGE" ALLOWS HOSPITALS TO DISCUSS EMERGING TRENDS, CONCERNS, AND IDEAS. RESEARCH HELPS IDENTIFY EXAMPLES OF HOW HOSPITALS ARE ADDRESSING SUCH KEY AREAS AS SOCIAL DETERMINANTS OF HEALTH, PURSUIT OF HEALTH EQUITY, AND APPROACHES TO PREVENTION OF THE MISUSE OF OPIOIDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maureen Testoni President & CEO | Officer | 45 | $589,240 |
Christopher Crosswhite SVP Legal And Policy | Officer | 45 | $273,059 |
Richard Sorian Senior Vp, Communications | 45 | $271,573 | |
Patrick Mcgary SVP Operations | Officer | 45 | $257,598 |
Steven Miller VP Of Pharmacy Servi | 45 | $242,572 | |
Gregory Doggett VP Legal & Policy Counsel | 45 | $234,375 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dobson Davanzo & Associates Lobbying/government Relations | 12/30/21 | $142,267 |
Waxman Consulting Lobbying/government Relations | 12/30/21 | $180,000 |
Baker Donelson Bearman Caldwell & Ber Lobbying/government Relations | 12/30/21 | $154,984 |
Zuckerman Spaeder Legal And Policy Services | 12/30/21 | $139,143 |
Mcdermottconsulting Lobbying/government Relations | 12/30/21 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $325,010 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $325,010 |
| Total Program Service Revenue | $8,926,049 |
| Investment income | $419,504 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $80,023 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,750,586 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,062 |
| 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. | $1,607,192 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,044,258 |
| Pension plan accruals and contributions | $121,234 |
| Other employee benefits | $194,044 |
| Payroll taxes | $292,733 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $234,539 |
| Fees for services: Accounting | $243,977 |
| Fees for services: Lobbying | $575,730 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,434 |
| Fees for services: Other | $404,137 |
| Advertising and promotion | $178,915 |
| Office expenses | $262,667 |
| Information technology | $292,283 |
| Royalties | $22,789 |
| Occupancy | $364,973 |
| Travel | $6,249 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $441,489 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,482 |
| Insurance | $34,318 |
| All other expenses | $28,782 |
| Total functional expenses | $8,473,287 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,420,494 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $273 |
| 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 | $217,663 |
| Net Land, buildings, and equipment | $107,258 |
| Investments—publicly traded securities | $19,618,854 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184,043 |
| Total assets | $25,548,585 |
| Accounts payable and accrued expenses | $465,190 |
| Grants payable | $0 |
| Deferred revenue | $7,196,985 |
| 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 | $16,812 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,502 |
| Total liabilities | $7,707,489 |
| Net assets without donor restrictions | $17,561,876 |
| Net assets with donor restrictions | $279,220 |
| 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 | $25,548,585 |
Grants Awarded
Over the last fiscal year, 340b Health has awarded $27,885 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
San Diego, CA PURPOSE: GRANTS MADE TO CHARITIES IN COMMUNITIES THAT HOSTED CONFERENCE | $14,025 |
Washington, DC PURPOSE: GRANTS MADE TO CHARITIES IN COMMUNITIES THAT HOSTED CONFERENCE | $13,860 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that 340b Health has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Methodist Lebonheur Healthcare Memphis, TN PURPOSE: LEADER LEVEL FOR ALLIANCE PROJECT 340B | $40,000 |
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 |