Supporting Initiatives To Redistribute Unused Medicine-Sirum
- Assets
- $27.3m
- Revenue
- $33.8m
- Investments
- $0.0
- Employees
- 27
- Location
- Palo Alto, CA
- Founding
- 10/2011
- Data as of
- 12/2022
- EIN
- 27-1103057
Organization Overview
Supporting Initiatives To Redistribute Unused Medicine-Sirum is located in Palo Alto, CA. The organization was established in 2011. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. As of 12/2022, Supporting Initiatives To Redistribute Unused Medicine-Sirum employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Supporting Initiatives To Redistribute Unused Medicine-Sirum 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 12/2022, Supporting Initiatives To Redistribute Unused Medicine-Sirum generated $33.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 22.7% each year . All expenses for the organization totaled $35.5m during the year ending 12/2022. While expenses have increased by 29.4% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO STANDARDIZE AND STREAMLINE MEDICAL DONATIONS TO COMMUNITIES IN NEED, ENSURING OPTIMAL CORRDINATION AND EFFICIENCY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIRUM USES TECHNOLOGY TO CONNECT SURPLUS MEDICINE FROM INSTITUTIONS LIKE COMMERCIAL PHARMACIES AND HEALTH FACILITIES WITH SAFETY-NET PROVIDERS LIKE FREE CLINICS AND CHARITABLE PHARMACIES TO BENEFIT ILL AND/OR NEEDED INDIVIDUALS. LIKE A MATCH.COM FOR MEDICINE, THE ORGANIZATION CONNECTS MEDICINE DONORS WITH THESE SAFETY-NET PROVIDERS AND COORDINATES THIRD PARTY LOGISTICS LIKE ITIEMIZED DRUG MANIFESTS, TRACKING AND SHIPPING. ACTIVITIES INCLUDE OPERATING A NOT-FOR-PROFIT PHARMACY AND RETURNS PROCESSOR, WHICH ARE UTILIZED WHEN NEEDED AS THIRD PARTY LOGISTICS PROVIDERS OFFERING WAREHOUSING AND DISTRIBUTION SERVICES FOR DONATED MEDICINE GOING TO INDIVIDUALS IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Kircher Director | OfficerTrustee | 50 | $222,000 |
Kiah Williams Director | OfficerTrustee | 50 | $220,000 |
George Wang Director | OfficerTrustee | 50 | $205,108 |
Michelle Branch Member | Trustee | 1 | $0 |
Rebecca Turner Member | Trustee | 1 | $0 |
Geraldine Maro Member | Trustee | 1 | $0 |
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 | $33,004,989 |
| Noncash contributions included in lines 1a–1f | $28,092,197 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $33,004,989 |
| Total Program Service Revenue | $528,446 |
| Investment income | $296,779 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $31,605 |
| Net Gain/Loss on Asset Sales | -$54,747 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,807,072 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $647,108 |
| Compensation of current officers, directors, key employees. | $90,790 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,471,192 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $299,763 |
| Payroll taxes | $235,069 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,000 |
| Fees for services: Accounting | $32,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,988 |
| Advertising and promotion | $54,399 |
| Office expenses | $42,527 |
| Information technology | $1,317,107 |
| Royalties | $0 |
| Occupancy | $364,638 |
| Travel | $65,772 |
| 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 | $191,891 |
| Insurance | $17,065 |
| All other expenses | $278,826 |
| Total functional expenses | $35,453,124 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,836,014 |
| Savings and temporary cash investments | $6,683,156 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,883,309 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,054,369 |
| Prepaid expenses and deferred charges | $74,881 |
| Net Land, buildings, and equipment | $984,831 |
| Investments—publicly traded securities | $9,425,029 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,348,710 |
| Total assets | $27,290,299 |
| Accounts payable and accrued expenses | $240,107 |
| 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 | $1,239,332 |
| Total liabilities | $1,479,439 |
| Net assets without donor restrictions | $22,051,873 |
| Net assets with donor restrictions | $3,758,987 |
| 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 | $27,290,299 |