Pharmaceutical Research And Manufacturers Of America
- Assets
- $286.2m
- Revenue
- $568.4m
- Investments
- $8.8m
- Employees
- 302
- Location
- Washington, DC
- Founding
- 02/1959
- Data as of
- 12/2022
- EIN
- 53-0241211
Organization Overview
Pharmaceutical Research And Manufacturers Of America, operating under the name Phrma, is located in Washington, DC. The organization was established in 1959. According to its NTEE Classification (E03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Health Care and related organizations. As of 12/2022, Phrma employed 302 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phrma 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 12/2022, Phrma generated $568.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $574.4m during the year ending 12/2022. While expenses have increased by 12.4% per year over the past 8 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.
Since 2014, Phrma has awarded 3,358 individual grants totaling $326,834,391. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC POLICY ADVOCACY: PHRMA'S MISSION IS TO CONDUCT EFFECTIVE ADVOCACY FOR PUBLIC POLICIES THAT ENCOURAGE DISCOVERY OF IMPORTANT NEW MEDICINES FOR PATIENTS BY BIOPHARMACEUTICAL RESEARCH COMPANIES. PHRMA ACHIEVES THIS MISSION BY WORKING WITH, AND ON BEHALF OF, ITS MEMBER COMPANIES BEFORE GOVERNMENTAL AND REGULATORY BODIES IN THE UNITED STATES AND THROUGHOUT THE WORLD IN SUPPORT OF PRO-PATIENT, PRO-INNOVATION POLICIES. SPECIFICALLY, PHRMA ADVOCATES FOR BROAD PATIENT ACCESS TO SAFE AND EFFECTIVE MEDICINES THROUGH A FREE MARKET, WITHOUT GOVERNMENT PRICE CONTROLS; STRONG INTELLECTUAL PROPERTY INCENTIVES; AND TRANSPARENT, EFFICIENT REGULATION AND A FREE FLOW OF INFORMATION TO PATIENTS.
MEMBER SERVICES: IN REPRESENTING THE COUNTRY'S LEADING PHARMACEUTICAL RESEARCH AND BIOTECHNOLOGY COMPANIES, PHRMA PROVIDES A FORUM FOR MEMBER COMPANIES TO PARTICIPATE IN DISCUSSIONS OF RELEVANT HEALTH CARE ISSUES AND TO DEVELOP CONSENSUS POSITIONS ON MATTERS OF PUBLIC POLICY ADVOCACY. MEMBER COMPANIES PARTICIPATE IN PHRMA ACTIVITIES THROUGH REPRESENTATION ON THE BOARD OF DIRECTORS, BOARD-LEVEL COMMITTEES, STAFF WORK GROUPS, SECTIONS, AND TASK FORCES. MEMBER COMPANY REPRESENTATIVES ALSO REGULARLY COMMUNICATE WITH PHRMA STAFF.
GENERAL EDUCATION ABOUT BIOPHARMACEUTICAL INDUSTRY: PHRMA DISSEMINATES INFORMATION ABOUT BIOPHARMACEUTICAL COMPANIES, THEIR PRODUCTS, AND THEIR BUSINESS, SCIENTIFIC AND PHILANTHROPIC ACTIVITIES THROUGH A WIDE RANGE OF CHANNELS, INCLUDING PROFILES, REPORTS, PRINCIPLES, GUIDELINES, FACT SHEETS, POLICY PAPERS AND OTHER RESOURCES. THESE EFFORTS BOLSTER PHRMA'S ABILITY TO EDUCATE AND INFORM MEMBERS OF THE GENERAL PUBLIC AS WELL AS POLICYMAKERS, THE MEDIA, PATIENTS AND OTHERS IN THE HEALTH CARE COMMUNITY ABOUT THE BIOPHARMACEUTICAL INDUSTRY AND PHRMA'S PUBLIC POLICY ACTIVITIES IN PARTICULAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen J Ubl President & CEO | OfficerTrustee | 37.5 | $5,432,814 |
Lori Reilly COO | Officer | 37.5 | $2,926,661 |
James C Stansel Gen Counsel & Evp Law, Secy | Officer | 37.5 | $1,617,280 |
Richard Moscicki MD Cmo & Evp, Science/rg Advocacy | Officer | 37.5 | $1,801,167 |
Paul A Aines CFO & Evp Of Administration | Officer | 37.5 | $1,397,427 |
Scott Lagagna Svp, State Govt Advocacy | 37.5 | $1,104,839 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Locust Street Solutions Llc Advocacy Consulting | 12/30/22 | $8,903,109 |
Covington Burling Llp Legal Consulting | 12/30/22 | $4,740,889 |
Artemis Ward Llc Comms Strategy | 12/30/22 | $3,158,725 |
Powell Tate Comms Strategy | 12/30/22 | $3,181,270 |
Arnold Porter Kaye Scholer Llp Legal Consulting | 12/30/22 | $3,241,331 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $565,569,426 |
| Investment income | $4,307,521 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,547,110 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $568,384,699 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $51,858,470 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $240,534 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $22,477,396 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,909,501 |
| Pension plan accruals and contributions | $43,191,969 |
| Other employee benefits | $7,500,368 |
| Payroll taxes | $5,967,615 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,477,422 |
| Fees for services: Accounting | $246,111 |
| Fees for services: Lobbying | $104,676,553 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $199,089 |
| Fees for services: Other | $117,705,304 |
| Advertising and promotion | $52,380,919 |
| Office expenses | $4,467,974 |
| Information technology | $1,975,827 |
| Royalties | $0 |
| Occupancy | $7,481,259 |
| Travel | $3,590,647 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,932,941 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,364,948 |
| Insurance | $628,786 |
| All other expenses | $180,234 |
| Total functional expenses | $574,376,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $178,664,265 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,756,147 |
| 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 | $4,368,510 |
| Net Land, buildings, and equipment | $3,506,612 |
| Investments—publicly traded securities | $78,498,072 |
| Investments—other securities | $8,808,980 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,631,414 |
| Total assets | $286,234,000 |
| Accounts payable and accrued expenses | $50,159,102 |
| Grants payable | $0 |
| Deferred revenue | $48,277,680 |
| 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 | $36,130,510 |
| Total liabilities | $134,567,292 |
| Net assets without donor restrictions | $151,666,708 |
| 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 | $286,234,000 |
Grants Awarded
Over the last fiscal year, Pharmaceutical Research And Manufacturers Of America has awarded $50,895,359 in support to 433 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY OF MANAGED CARE PHARMACY PURPOSE: General Contribution | $205,000 |
ADDSTEAM PURPOSE: General Contribution | $15,000 |
ADVANCING FLORIDA AGRICULTURE PURPOSE: Political Contribution | $23,500 |
AFRICAN AMERICAN CLERGY & ELECTED OFFICIALS ORG PURPOSE: General Contribution | $15,000 |
AIDS INSTITUTE INC PURPOSE: General Contribution | $200,000 |
ALLIANCE FOR AGING RESEARCH PURPOSE: General Contribution | $175,000 |