Medicines360
- Assets
- $52.0m
- Revenue
- $10.0m
- Investments
- $1.0k
- Employees
- 46
- Location
- San Francisco, CA
- Founding
- 05/2009
- Data as of
- 12/2023
- EIN
- 26-4443340
Organization Overview
Medicines360 is located in San Francisco, CA. The organization was established in 2009. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2023, Medicines360 employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medicines360 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 12/2023, Medicines360 generated $10.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (21.5%) each year. All expenses for the organization totaled $19.3m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MEDICINES360 IS A NON-PROFIT PHARMACEUTICAL ORGANIZATION THAT ADDRESSES UNMET NEEDS OF WOMEN BY DEVELOPING INNOVATIVE, AFFORDABLE AND SUSTAINABLE MEDICINES AND DEVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION RECEIVED NDA APPROVAL FOR ITS IUD PRODUCT LILETTA IN 2015. LILETTA HAS BEEN DISTRIBUTED THROUGH MEDICINES360'S COMMERCIAL PARTNER SINCE APRIL 2015. THE ORGANIZATION CONTINUED CLINICAL TRIALS BEYOND THE INITIAL APPROVAL FOR THE PRODUCT. IN ADDITION, THE ORGANIZATION CONTINUES DEVELOPING CERTAIN MEDICAL PRODUCTS RELATING TO WOMEN'S REPRODUCTIVE HEALTH AND WORKS TO EXPAND ACCESS TO ALL WOMEN IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tina Raine-Bennet CEO Thru 5/16/23 | OfficerTrustee | 40 | $1,167,104 |
Leslie Benet Chair | Trustee | 2 | $60,000 |
Lisa David Director | Trustee | 2 | $40,000 |
Karen Dawes Director | Trustee | 2 | $40,000 |
Ann Barber Director | Trustee | 2 | $40,000 |
Mike Dorsey Director | Trustee | 2 | $40,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jpa Health Communications Consultant Services | 12/30/23 | $599,062 |
Allucent (Us) Llc Consultant Services | 12/30/23 | $504,258 |
University Of California Davis Consultant Services | 12/30/23 | $384,403 |
Waxman Strategies Consultant Services | 12/30/23 | $284,000 |
Planet Pharma Group Llc Consultant Services | 12/30/23 | $276,398 |
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 | $854,099 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $854,099 |
| Total Program Service Revenue | $0 |
| Investment income | $1,781,575 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,919,325 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,788,292 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$79,188 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,006,742 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $43,735 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,047,123 |
| Compensation of current officers, directors, key employees. | $1,416,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,995,264 |
| Pension plan accruals and contributions | $173,641 |
| Other employee benefits | $921,189 |
| Payroll taxes | $471,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $564,061 |
| Fees for services: Accounting | $141,807 |
| Fees for services: Lobbying | $30,263 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $151,843 |
| Fees for services: Other | $4,090,779 |
| Advertising and promotion | $849,290 |
| Office expenses | $602,614 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $521,877 |
| Travel | $383,945 |
| 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 | $198,904 |
| Insurance | $817,484 |
| All other expenses | $69,572 |
| Total functional expenses | $19,326,497 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $811,209 |
| Savings and temporary cash investments | $1,202,424 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,473,387 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $356,789 |
| Prepaid expenses and deferred charges | $941,546 |
| Net Land, buildings, and equipment | $552,980 |
| Investments—publicly traded securities | $42,851,767 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,801,303 |
| Total assets | $51,992,405 |
| Accounts payable and accrued expenses | $3,347,536 |
| 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 | $1,812,568 |
| Total liabilities | $5,160,104 |
| Net assets without donor restrictions | $46,041,798 |
| Net assets with donor restrictions | $790,503 |
| 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 | $51,992,405 |
Grants Awarded
Over the last fiscal year, Medicines360 has awarded $50,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL WOMEN'S LAW CENTER PURPOSE: GENERAL SUPPORT | $10,000 |
ASSOCIATION OF REPRODUCTIVE HEALTH PROFESSIONALS PURPOSE: GENERAL SUPPORT | $15,000 |
PLANNED PARENTHOOD FEDERATION OF AMERICA PURPOSE: GENERAL SUPPORT | $25,000 |