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REMS INDUSTRY CONSORTIUM INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
REMS INDUSTRY CONSORTIUM INC (EIN 87-2975064)
Tax period
2022-01-01 to 2022-12-31
Filed
2023-11-15
IRS object ID
202303199349331860
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2023-11-15T21:44:00-06:00ReturnTs
Tax Period End2022-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN232896692PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1BBD LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11835 MARKET STREET 3RD FLOORAddressLine1Txt
CityPHILADELPHIACityNm
State AbbreviationPAStateAbbreviationCd
ZIP19103ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN872975064EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1REMS INDUSTRY CONSORTIUM INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlREMSBusinessNameControlTxt
Phone2156653811PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11120 ROUTE 73 SUITE 200AddressLine1Txt
CityMOUNT LAURELCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08054ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonKEVIN HOLMANPersonNm
Person TitleCHAIRPERSONPersonTitleTxt
Phone2156653811PhoneNum
Signature2023-11-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstKEVINPersonFirstNm
Person LastHOLMANPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info Curr0IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJENNIFER SOLOTPreparerPersonNm
PTINP00749373PTIN
Phone2155677770PhoneNum
Preparation2023-11-15PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer2TrustedCustomerCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerKEVIN HOLMANPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line11120 ROUTE 73 SUITE 200AddressLine1Txt
CityMOUNT LAURELCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08054ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$397,500GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501cYes (X)Organization501cInd
Website AddressREMSCONSORTIUM.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2021FormationYr
Legal Domicile StateNJLegalDomicileStateCd
Activity Or MissionIMPROVING PATIENT SAFETY AND MEDICATION ACCESS THROUGH REMS INNOVATION.ActivityOrMissionDesc
Voting Members Governing Body6VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Volunteers6TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$0PYContributionsGrantsAmt
CY Contributions Grants$0CYContributionsGrantsAmt
PY Program Service Revenue$300,000PYProgramServiceRevenueAmt
CY Program Service Revenue$397,500CYProgramServiceRevenueAmt
PY Investment Income$0PYInvestmentIncomeAmt
CY Investment Income$0CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$300,000PYTotalRevenueAmt
CY Total Revenue$397,500CYTotalRevenueAmt
PY Grants And Similar Paid$0PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$0PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$278,701PYOtherExpensesAmt
CY Other Expenses$380,567CYOtherExpensesAmt
PY Total Expenses$278,701PYTotalExpensesAmt
CY Total Expenses$380,567CYTotalExpensesAmt
PY Revenues Less Expenses$21,299PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$16,933CYRevenuesLessExpensesAmt
Total Assets BOY$85,375TotalAssetsBOYAmt
Total Assets EOY$98,502TotalAssetsEOYAmt
Total Liabilities BOY$64,076TotalLiabilitiesBOYAmt
Total Liabilities EOY$60,270TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$21,299NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$38,232NetAssetsOrFundBalancesEOYAmt
MissionTHE REMS INDUSTRY CONSORTIUM FOSTERS COLLABORATION AND INNOVATION TO ADVANCE PATIENT SAFETY, APPROPRIATE ACCESS, AND BEST PRACTICES IN REMS-RELATED DRUG AND BIOLOGIC RISK MANAGEMENT.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
DescTHE REMS INDUSTRY CONSORTIUM FOSTERS COLLABORATION AND INNOVATION TO ADVANCE PATIENT SAFETY, APPROPRIATE ACCESS, AND BEST PRACTICES IN REMS-RELATED DRUG AND BIOLOGIC RISK MANAGEMENT.Desc
Described In Section501c30DescribedInSection501c3Ind
Schedule B Required0ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Donor Rstr Or Quasi Endowments0DonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentYes (1)ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 Footnote0IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt0IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising Activities0FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To Individuals0GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent0BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related Entity0RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee0EmployeeCnt
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt0SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc0SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members6GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesYes (1)DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or StockholdersYes (1)MembersOrStockholdersInd
Election Of Board MembersYes (1)ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (1)MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy0ConflictOfInterestPolicyInd
Whistleblower Policy0WhistleblowerPolicyInd
Document Retention Policy0DocumentRetentionPolicyInd
Compensation Process CEO0CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1THE ORGANIZATIONBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone2156653811PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line11120 ROUTE 73 SUITE 200AddressLine1Txt
CityMOUNT LAURELCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08054ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
KEVIN HOLMAN
CHAIRPERSON1.00Yes (X)Yes (X)$0$0$0
SHERICE MILLS
VICE CHAIRPERSON1.00Yes (X)Yes (X)$0$0$0
KISHORE GOPU
SECRETARY1.00Yes (X)Yes (X)$0$0$0
KAL ELHOREGY
TREASURER1.00Yes (X)Yes (X)$0$0$0
MAY CHAN-LISTON
BOARD MEMBER (ENDING 9/15/22)1.00Yes (X)$0$0$0
JENNIFER CHURCH
BOARD MEMBER1.00Yes (X)$0$0$0
MICHAEL CHEUNG
BOARD MEMBER (STARTING 9/16/22)1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$0TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp

Contractor Name ContractorName

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1ASSOCIATION HEADQUARTERS INCBusinessNameLine1Txt

Contractor Address ContractorAddress

US Address USAddress

FieldValueIRS element (for citing)
Address Line11120 ROUTE 73 SUITE 200AddressLine1Txt
CityMOUNT LAURELCityNm
State AbbreviationNJStateAbbreviationCd
ZIP08054ZIPCd
FieldValueIRS element (for citing)
ServicesMANAGEMENT COMPANYServicesDesc
Compensation$360,000CompensationAmt
FieldValueIRS element (for citing)
Cntrct Rcvd Greater Than100 K1CntrctRcvdGreaterThan100KCnt

Program Service Revenue ProgramServiceRevenueGrp

FieldValueIRS element (for citing)
DescMEMBERSHIP DUESDesc
Business541900BusinessCd
Total Revenue Column$397,500TotalRevenueColumnAmt
Related Or Exempt Func Income$397,500RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$397,500TotalProgramServiceRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$397,500TotalRevenueColumnAmt
Related Or Exempt Func Income$397,500RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$360,000TotalAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$99TotalAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$632TotalAmt

Depreciation Depletion DepreciationDepletionGrp

FieldValueIRS element (for citing)
Total$8,333TotalAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$7,200TotalAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmt
FILING FEES$2,422
BANK/CREDIT CARD FEES$1,481
TOOLS & SUBSCRIPTIONS$306
MISCELLANEOUS$94

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$380,567TotalAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$20,111EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$60,375BOYAmt
EOY$61,724EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$25,000LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$8,333LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$25,000BOYAmt
EOY$16,667EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$85,375BOYAmt
EOY$98,502EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$4,076BOYAmt
EOY$270EOYAmt

Deferred Revenue DeferredRevenueGrp

FieldValueIRS element (for citing)
BOY$60,000BOYAmt
EOY$60,000EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$64,076BOYAmt
EOY$60,270EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$21,299BOYAmt
EOY$38,232EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$21,299BOYAmt
EOY$38,232EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$85,375BOYAmt
EOY$98,502EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$16,933ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS Audited0FSAuditedInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule D IRS990ScheduleD

Other Land Buildings OtherLandBuildingsGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$25,000OtherCostOrOtherBasisAmt
Depreciation$8,333DepreciationAmt
Book Value$16,667BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$16,667TotalBookValueLandBuildingsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (5 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PART VI, SECTION A, LINE 3THE ORGANIZATION RECEIVED VARIOUS MANAGEMENT SERVICES INCLUDING THOSE RELATED TO ADMINISTRATION, MEETINGS, ACCOUNTING AND WEBSITE SERVICES FROM ASSOCIATION HEADQUARTERS, INC.
FORM 990, PART VI, SECTION A, LINE 6CURRENTLY, TWO CLASSES OF MEMBERSHIPS ARE AUTHORIZED: VOTING AND NONVOTING. IT IS CONTEMPLATED THAT ANY ENTITY THAT IS A DRUG OR BIOLOGIC COMPANY SPONSOR WHICH (I) ENGAGES IN COMMERCIALIZING (OR DEVELOPING FOR COMMERCIALIZATION) FDA-APPROVED PHARMACEUTICAL OR BIOPHARMACEUTICAL PRODUCTS WHICH ARE (OR MAY BE) SUBJECT TO REMS, AND (II) SUPPORTS FURTHERING THE GOALS OF RIC, INCLUDING UNDERTAKING ACTIVITIES TO FURTHER THOSE GOALS, MAY BE ADMITTED TO VOTING MEMBERSHIP; AND THAT ANY ENTITY THAT SUPPORTS FURTHERING THE GOALS OF RIC WHICH DOES NOT MEET THE ABOVE CRITERIA MAY BE ADMITTED AS A NONVOTING MEMBER.
FORM 990, PART VI, SECTION A, LINE 7ACURRENTLY, TWO CLASSES OF MEMBERSHIPS ARE AUTHORIZED: VOTING AND NONVOTING. IT IS CONTEMPLATED THAT ANY ENTITY THAT IS A DRUG OR BIOLOGIC COMPANY SPONSOR WHICH (I) ENGAGES IN COMMERCIALIZING (OR DEVELOPING FOR COMMERCIALIZATION) FDA-APPROVED PHARMACEUTICAL OR BIOPHARMACEUTICAL PRODUCTS WHICH ARE (OR MAY BE) SUBJECT TO REMS, AND (II) SUPPORTS FURTHERING THE GOALS OF RIC, INCLUDING UNDERTAKING ACTIVITIES TO FURTHER THOSE GOALS, MAY BE ADMITTED TO VOTING MEMBERSHIP; AND THAT ANY ENTITY THAT SUPPORTS FURTHERING THE GOALS OF RIC WHICH DOES NOT MEET THE ABOVE CRITERIA MAY BE ADMITTED AS A NONVOTING MEMBER.
FORM 990, PART VI, SECTION B, LINE 11BA COMPLETE COPY OF FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING.
FORM 990, PART VI, SECTION C, LINE 19THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND FORMS 990 AVAILABLE TO THE PUBLIC UPON REQUEST.