Iowa Prescription Drug Corporation
- Assets
- $1.3m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 11
- Location
- Grimes, IA
- Founding
- 04/2003
- Data as of
- 06/2021
- EIN
- 42-1518875
Organization Overview
Iowa Prescription Drug Corporation, operating under the name Safenetrx, is located in Grimes, IA. The organization was established in 2003. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. As of 06/2021, Safenetrx employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Safenetrx 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 06/2021, Safenetrx generated $8.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $8.9m during the year ending 06/2021. While expenses have increased by 12.7% per year over the past 6 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 SERVE THE PRESCRIPTION NEEDS OF MEDICALLY UNDERSERVED POPULATIONS THROUGH RESPONSIBLE COLLECTION AND DISTRIBUTION OF DONATED MEDICINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESCRIPTION MEDICATION RECYCLING - THE PURPOSE OF THIS PROGRAM IS TO RECYCLE PRESCRIPTION MEDICATIONS THAT ARE ABANDONED AT LONG-TERM CARE FACILITIES. THE DRUGS ARE THEN DISTRIBUTED TO LOCAL REPOSITORIES FOR DISTRIBUTIONS.
TO OPERATE A PRESCRIPTION DRUG PROGRAM TO REDUCE EXPENDITURES FOR PRESCRIPTION MEDICATION FOR IOWA'S UNINSURED AND UNDERINSURED RESIDENTS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Goodhall Secretary | OfficerTrustee | $0 | |
Raymond Meister Treasurer | OfficerTrustee | $0 | |
Jon Rosmann CEO | OfficerTrustee | $0 | |
Joshua Rehmann Vice-Preside | OfficerTrustee | $0 | |
Nicole Russell President | OfficerTrustee | $0 | |
Renae Chesnut Board Member | Trustee | $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 | $8,118,247 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,118,247 |
| Total Program Service Revenue | $812,884 |
| Investment income | $629 |
| 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 | $8,932,847 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $512,295 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $58,108 |
| Payroll taxes | $39,010 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,824 |
| Fees for services: Accounting | $32,012 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $100 |
| Office expenses | $30,260 |
| Information technology | $25,656 |
| Royalties | $0 |
| Occupancy | $66,750 |
| Travel | $332 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $180 |
| Interest | $636 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,247 |
| Insurance | $13,936 |
| All other expenses | $26,653 |
| Total functional expenses | $8,931,408 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,761 |
| Savings and temporary cash investments | $65,750 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $572 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,205,464 |
| Prepaid expenses and deferred charges | $4,492 |
| Net Land, buildings, and equipment | $9,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,059 |
| Total assets | $1,322,646 |
| Accounts payable and accrued expenses | $23,210 |
| 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 | $294,320 |
| Total liabilities | $317,530 |
| Net assets without donor restrictions | $1,005,116 |
| 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 | $1,322,646 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Iowa Prescription Drug Corporation has recieved totaling $67,482.
| Awarding Organization | Amount |
|---|---|
Americares Foundation Inc Stamford, CT PURPOSE: ONGOING | $33,741 |
Americares Foundation Inc Stamford, CT PURPOSE: ONGOING | $33,741 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oeu-965 Health Benefit Plan Springfield, IL | $22,470,499 | $12,801,499 |
Iowa Life And Health Insurance Guaranty Association Des Moines, IA | $11,629,327 | $10,389,227 |
Caringbridge Eagan, MN | $5,186,201 | $10,947,977 |
Union Sponsored Health Benefits Tr Milwaukee, WI | $0 | $311 |
Iowa Prescription Drug Corporation Grimes, IA | $1,322,646 | $8,932,847 |
Sapp Brothers Petroleum Inc Employee Group Health Plan Omaha, NE | $3,121,227 | $10,056,821 |
South Dakota Life And Health Insurance Guaranty Association Sioux Falls, SD | $739,466 | $7,515,713 |
Truman Medical Center Professional And General Liability Self-Ins Tr Kansas City, MO | $25,601,158 | $4,849,990 |
Missouri Health Connection Columbia, MO | $3,938,153 | $4,470,811 |
Wisconsin Statewide Health Information Network Inc Madison, WI | $3,172,138 | $5,065,926 |
Hoffer Plastics Corporation Health Benefit Plan Trust South Elgin, IL | -$29,195 | $3,942,624 |
Ridgeview Insurance Company Waconia, MN | $15,758,174 | $5,649,274 |