Civic Intelligence

Pharmaceutical Supply Chain Initiative Co Faegre Drinker Biddle & Reath LLP

990 • Fiscal year 2020 • EIN 90-1069596

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 18, 2021

Organization ProfileWWW.PSCINITIATIVE.ORG
1 Logan Square No 2000Philadelphia, PA 19103-6996

(202) 230-5169

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.54x

Higher debt load relative to assets than 89% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

80th percentile

0.41x

Higher debt load relative to revenue than 80% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

9th percentile

-28%

Higher net margin than 9% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

5th percentile

-30%

Faster asset growth than 5% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

11%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets89th percentile

Assets

Down

$606,810

Down $254,583 (-30%) from 2019

Net Assets

Down

$277,242

Down $227,622 (-45%) from 2019

Liabilities

Down

$329,568

Down $26,961 (-7.6%) from 2019

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin9th percentile

Revenue

Up

$810,889

Up $77,774 (+11%) from 2019

Expenses

Up

$1,038,511

Up $347,466 (+50%) from 2019

Net Income

Down

-$227,622

Down $269,692 (-641%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2014: $187,128Liabilities 2014: $146,162Net Assets 2014: $40,9662014Assets 2015: $103,364Liabilities 2015: $40,167Net Assets 2015: $63,1972015Assets 2016: $402,780Liabilities 2016: $172,008Net Assets 2016: $230,7722016Assets 2017: $565,149Liabilities 2017: $232,326Net Assets 2017: $332,8232017Assets 2018: $670,287Liabilities 2018: $207,493Net Assets 2018: $462,7942018Assets 2019: $861,393Liabilities 2019: $356,529Net Assets 2019: $504,8642019Assets 2020: $606,810Liabilities 2020: $329,568Net Assets 2020: $277,2422020Assets 2021: $763,619Liabilities 2021: $461,432Net Assets 2021: $302,1872021Assets 2022: $739,265Liabilities 2022: $434,710Net Assets 2022: $304,5552022Assets 2023: $1,130,634Liabilities 2023: $326,577Net Assets 2023: $804,0572023Assets 2024: $1,114,948Liabilities 2024: $561,052Net Assets 2024: $553,8962024

Highlighted filing

2020

Assets$606,810
Liabilities$329,568
Net Assets$277,242
Open 2020 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2014: $460,000Expenses 2014: $419,034Net Income 2014: $40,9662014Revenue 2015: $437,500Expenses 2015: $415,269Net Income 2015: $22,2312015Revenue 2016: $515,100Expenses 2016: $347,525Net Income 2016: $167,5752016Revenue 2017: $509,375Expenses 2017: $407,324Net Income 2017: $102,0512017Revenue 2018: $647,114Expenses 2018: $517,143Net Income 2018: $129,9712018Revenue 2019: $733,115Expenses 2019: $691,045Net Income 2019: $42,0702019Revenue 2020: $810,889Expenses 2020: $1,038,511Net Income 2020: -$227,6222020Revenue 2021: $969,449Expenses 2021: $944,504Net Income 2021: $24,9452021Revenue 2022: $1,140,722Expenses 2022: $1,138,354Net Income 2022: $2,3682022Revenue 2023: $1,930,536Expenses 2023: $1,457,598Net Income 2023: $472,9382023Revenue 2024: $1,221,649Expenses 2024: $1,471,810Net Income 2024: -$250,1612024

Highlighted filing

2020

Revenue$810,889
Expenses$1,038,511
Net Income-$227,622
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 18, 2021
Return Version
2020v4.1
Gross Receipts
$810,889
Mission and Program Overview

Mission

Our mission is to provide members with a forum to establish industry principles that guide ethics, labor, health & safety, environmental sustainability, and management systems practices to support continuous improvement of suppliers' capabilities.

Establishing formal guidelines to help its suppliers meet pharmaceutical industry expectations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$752,951$357,660▼ $395,291
Savings and Temporary Cash Investments-$220,002-
Accounts Receivable$80,886--
Intangible Assets$27,282$28,869▲ $1,587
Prepaid Expenses and Deferred Charges$274$279▲ $5
Total Assets$861,393$606,810▼ $254,583
Liabilities
Accounts Payable and Accrued Expenses$124,862$165,610▲ $40,748
Deferred Revenue$231,667$163,958▼ $67,709
Total Liabilities$356,529$329,568▼ $26,961
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$504,864$277,242▼ $227,622
Total Net Assets Fund Balance$504,864$277,242▼ $227,622
Total Liabilities and Net Assets / Fund Balance$861,393$606,810▼ $254,583
Compensation and Service Providers
Top Officer Pay44th percentile

Board Members and Trustees

NameTitle
CAROLINE O'BRIENChair
Gabriele HarttungPast Chair
Manjit SinghVice Chair
Bridget FerrariSecretary
Kelly KapplerTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Carnstone Partners LLPManagement ServicesDURHAM HOUSE STREET, London, Uk$698,131
World Television LtdVideo Production Services48 HOXTON SQUARE, London, Uk$171,315
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$810,889
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-227,622
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,038,511
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$698,131
Fees for Services Other---$274,885
Fees for Services Accounting---$27,899
Fees for Services Legal---$22,800
Depreciation Depletion---$10,913
Other Expenses---$2,309
Insurance---$1,243
Office Expenses---$331
Total Functional Expenses$0$0$0$1,038,511
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“The organization's bylaws were updated to include two (2) addtional board members, seven (7) in total.”

Form 990, Part VI, Section A, Line 6

“Psci is a membership association comprised of pharmaceutical and healthcare companies formed to promote responsible supply chain management and better social and enviromental outcomes in the communities where they buy.”

Form 990, Part VI, Section A, Line 7A

“The general membership has the responsibility to elect the board of directors.”

Form 990, Part VI, Section A, Line 7B

“The members have the responsibility to vote to amend governance documents as needed.”

Form 990, Part VI, Section B, Line 11B

“Psci works with the outside accountant who prepares the 990. The draft is provided to the treasurer and board of directors who review and resolve any open questions with the outside accountant prior to filing with the irs.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Pharmaceutical Supply Chain Initiative
EIN
90-1069596
Phone
2022305169
Address
1 LOGAN SQUARE NO 2000, PHILADELPHIA, PA 19103-6996

Signing Officer

Name
Manjit Singh
Title
Chair
Phone
2022305169
Signed
2021-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Manjit Singh
Formed
2013
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Bdo USA Llp
Address
800 RED BROOK BLVD SUITE 300, OWINGS MILLS, MD 21117
Preparer
Brian J Ray
Phone
4103633200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Outside contracted services 274,885.”

Raw XML Appendix301 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ESTABLISHING FORMAL GUIDELINES TO HELP ITS SUPPLIERS MEET PHARMACEUTICAL INDUSTRY EXPECTATIONS.
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0BDO USA LLP
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IRS990/Desc0HELD TWO VIRTUAL TRAINING CONFERENCES ACROSS FOUR DAYS, ONE TARGETING SUPPLIERS IN INDIA, THE OTHER, SUPPLIERS IN CHINA, WHICH BROUGHT TOGETHER HSE AND HUMAN RESOURCES MANAGERS AND SENIOR MANAGEMENT FROM THE WORLD'S LARGEST PHARMACEUTICAL COMPANIES AND THEIR SUPPLIERS TO SHARE KNOWLEDGE.
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IRS990/FamilyOrBusinessRlnInd00
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IRS990/Form990PartVIISectionAGrp/TitleTxt1PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02013
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0810889
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
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IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
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IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/IntangibleAssetsGrp/BOYAmt027282
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IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
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IRS990/LoanOutstandingInd00
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IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0OUR MISSION IS TO PROVIDE MEMBERS WITH A FORUM TO ESTABLISH INDUSTRY PRINCIPLES THAT GUIDE ETHICS, LABOR, HEALTH & SAFETY, ENVIRONMENTAL SUSTAINABILITY, AND MANAGEMENT SYSTEMS PRACTICES TO SUPPORT CONTINUOUS IMPROVEMENT OF SUPPLIERS' CAPABILITIES.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/ProfessionalFundraisingInd00
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IRS990/ProgSrvcAccomActy2Grp/Desc0HELD A FOUR-DAY VIRTUAL TRAINING COURSE FOR AUDITORS ON HOW TO CARRY OUT HEALTH, SAFETY AND ENVIRONMENTAL (HSE) AUDITS ACCORDING TO THE PSCI PRINCIPLES, WHICH OUTLINE THE INDUSTRY EXPECTATIONS ON SAFE AND ENVIRONMENTALLY SOUND PRACTICES IN THEIR SUPPLY CHAIN.
IRS990/ProgSrvcAccomActy3Grp/Desc0HELD TWO VIRTUAL MEMBER MEETINGS SHARING INDUSTRY BEST PRACTICE ON A RANGE OF SOCIAL AND ENVIRONMENTAL TOPICS WITH THE GROWING MEMBERSHIP.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0HELD TEN (10) WEBINARS THROUGHOUT THE YEAR ON VARIOUS TOPICS INCLUDING: HAZARDOUS REACTIONS, HUMAN RIGHTS RISK MAPPING, COMBUSTIBLE DUST, ANTI-BRIBERY AND CORRUPTION, WASTEWATER TREATMENT, INDIAN LABOUR LAW, RESPIRATORY PROTECTION, INDUSTRIAL HYGIENE AND RESPONSIBLE SOURCING OF RAW MATERIALS.
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S BYLAWS WERE UPDATED TO INCLUDE TWO (2) ADDTIONAL BOARD MEMBERS, SEVEN (7) IN TOTAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PSCI IS A MEMBERSHIP ASSOCIATION COMPRISED OF PHARMACEUTICAL AND HEALTHCARE COMPANIES FORMED TO PROMOTE RESPONSIBLE SUPPLY CHAIN MANAGEMENT AND BETTER SOCIAL AND ENVIROMENTAL OUTCOMES IN THE COMMUNITIES WHERE THEY BUY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GENERAL MEMBERSHIP HAS THE RESPONSIBILITY TO ELECT THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MEMBERS HAVE THE RESPONSIBILITY TO VOTE TO AMEND GOVERNANCE DOCUMENTS AS NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PSCI WORKS WITH THE OUTSIDE ACCOUNTANT WHO PREPARES THE 990. THE DRAFT IS PROVIDED TO THE TREASURER AND BOARD OF DIRECTORS WHO REVIEW AND RESOLVE ANY OPEN QUESTIONS WITH THE OUTSIDE ACCOUNTANT PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OUTSIDE CONTRACTED SERVICES 274,885.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt0606810
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0329568
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalReportableCompFromOrgAmt00
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$606,810
Liabilities
$329,568
Net assets
$277,242
Revenue
$810,889
Expenses
$1,038,511
Net income
-$227,622
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.11$0.56$0.55$1.22$1.47$0.25
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.13$0.33$0.80$1.93$1.46$0.47
2022Detailed filing. Detailed filing data is available for this year.$0.74$0.43$0.30$1.14$1.14$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.76$0.46$0.30$0.97$0.94$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.61$0.33$0.28$0.81$1.04$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.36$0.50$0.73$0.69$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.67$0.21$0.46$0.65$0.52$0.13
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.23$0.33$0.51$0.41$0.10
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.17$0.23$0.52$0.35$0.17
2015Detailed filing. Detailed filing data is available for this year.$0.10$0.04$0.06$0.44$0.42$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.19$0.15$0.04$0.46$0.42$0.04
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2020 filings • 501(c)6 • $500k-$1M nonprofits