Otsuka Patient Assistance Foundation Inc
- Assets
- $34.8m
- Revenue
- $224.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Princeton, NJ
- Founding
- 03/2017
- Data as of
- 12/2022
- EIN
- 81-4571545
Organization Overview
Otsuka Patient Assistance Foundation Inc is located in Princeton, NJ. The organization was established in 2017. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Otsuka Patient Assistance Foundation Inc 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, Otsuka Patient Assistance Foundation Inc generated $224.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $227.3m during the year ending 12/2022. While expenses have increased by 10.4% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OTSUKA ASSISTANCE FOUNDATION, INC. ("FOUNDATION") PROVIDES PHARMACEUTICAL PRODUCTS FREE OF CHARGE TO PATIENTS IN NEED. SPECIFICALLY, THE FOUNDATION OPERATES THE OTSUKA PATIENT ASSISTANCE PROGRAM, WHICH WILL SERVE PATIENTS IN NEED WHO HAVE BEEN PRESCRIBED PHARMACEUTICAL PRODUCTS THAT ARE MARKED OR DISTRIBUTED BY OTSUKA AMERICA PHARMACEUTICAL, INC. AND ITS AFFILIATES. THE FOUNDATION MEETS THE PHARMACEUTICAL NEEDS OF SUCH PATIENTS PRIMARILY THROUGH PRODUCT DONATION AND, WHERE PRACTICAL, BY EDUCATING PATIENTS REGARDING APPLICABLE RESOURCES THAT THEY MAY UTILIZE. DURING 2022, THE FOUNDATION PROVIDED $218,551,062 OF DONATED PRODUCTS TO 13,291 PATIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Getz President & Director | 1 | $0 | |
Rachel Thorpe Associate Director | 40 | $0 | |
Terri Hinkley Board Member | 1 | $0 | |
Beth Harper Board Member | 1 | $0 | |
Mark Hoffman Board Member | 1 | $0 | |
Christina Van Derveer Secretary | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Labcorp Peri-approval And Commercialization In | 12/30/22 | $3,369,234 |
Labcorp Specialty Pharmacy Llc | 12/30/22 | $2,220,141 |
Ciberspring International Llc | 12/30/22 | $352,612 |
American Express | 12/30/22 | $152,581 |
Salesforcecom Inc | 12/30/22 | $111,798 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $224,577,861 |
| Interest on Savings | $54,253 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $224,632,114 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,791,551 |
| Total operating and administrative expenses | $8,791,551 |
| Contributions, gifts, grants paid | $218,551,062 |
| Total expenses and disbursements | $227,342,613 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500,177 |
| Savings and temporary cash investments | $8,100,000 |
| Net Accounts receivable | $13,529 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $26,143,745 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $34,757,451 |
| Accounts payable and accrued expenses | $1,696,338 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,696,338 |