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Nonprofit · EIN 56-1690027

THE PHARMACY NETWORK FOUNDATION INC

Tax-exempt · RALEIGH, NC 27601

Financials

$132K$985K2023$712K$1.1M2024$1M$1.1M2025
Revenue Expenses · by fiscal year end
Financials of THE PHARMACY NETWORK FOUNDATION INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990-PF$1,014,490$1,073,958-$59,468$16,387,147$0$16,387,147
December 31, 2024990-PF$711,739$1,094,224-$382,485$15,660,342$0$15,660,342
December 31, 2023990-PF$132,351$984,547-$852,196$15,129,404$0$15,129,404
Financial details: 990-PF for the year ended December 31, 2025

Revenue

Dividends
$378,572
Net gain from sales of assets
$635,918

Expenses

Grants and similar amounts paid
$755,250
Compensation of officers, directors and key employees
$204,000
Disbursements for charitable purposes
$837,829
Excise tax on investment income
$10,780

Balance sheet and other

Total assets, start of year
$15,660,342
Total assets, end of year
$16,387,147
Total liabilities, end of year
$0
Net assets, end of year
$16,387,147
Fair market value of assets
$16,387,147
Qualifying distributions
$837,829
Net investment income
$1,006,935

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
MITCHELL W WATTS
PO BOX 39, CONCORD, NC 28026
PRESIDENT2$40,800
JIMMY S JACKSON
2015 NAVAN LANE, GARNER, NC 27529
SECRETARY2$40,800
J ANDREW BARRETT
75 SLIPPERY ELM ROAD, YOUNGSVILLE, NC 27596
TREASURER2$40,800
MILTON GRAHAM STEWART JR
302 SAINT ANDREWS LANE, CARY, NC 27511
DIRECTOR2$40,800
PHILLIP A ELLEN
1004 OVERLOOK RIDGE ROAD, WAKE FOREST, NC 27587
DIRECTOR2$40,800
990-PF for the year ended December 31, 2024: 5 people
NameTitleHours / weekCompensation
MITCHELL W WATTS
PO BOX 39, CONCORD, NC 28026
PRESIDENT2$40,800
JIMMY S JACKSON
2015 NAVAN LANE, GARNER, NC 27529
SECRETARY2$40,800
J ANDREW BARRETT
7212 DONNEEFORD ROAD, WAKE FOREST, NC 27587
TREASURER2$40,800
MILTON GRAHAM STEWART JR
302 SAINT ANDREWS LANE, CARY, NC 27511
DIRECTOR2$40,800
PHILLIP A ELLEN
1004 OVERLOOK RIDGE ROAD, WAKE FOREST, NC 27587
DIRECTOR2$26,400
990-PF for the year ended December 31, 2023: 5 people
NameTitleHours / weekCompensation
MITCHELL W WATTS
PO BOX 39, CONCORD, NC 28026
PRESIDENT2$40,800
JIMMY S JACKSON
2015 NAVAN LANE, GARNER, NC 27529
SECRETARY/TREASURER2$40,800
J ANDREW BARRETT
7212 DONNEEFORD ROAD, WAKE FOREST, NC 27587
VICE PRESIDENT2$40,800
MILTON GRAHAM STEWART JR
302 SAINT ANDREWS LANE, CARY, NC 27511
DIRECTOR2$40,800
JULIAN E UPCHURCH
5201 PINE WAY, DURHAM, NC 27712
DIRECTOR2$12,000

Address and contacts

Address (IRS master file)
209 FAYETTEVILLE STREET BOX 11, RALEIGH, NC 27601-1309
Signed the 990-PF
MILTON GRAHAM STEWART JR, DIRECTOR
Phone
(919) 661-8461
Return prepared by
DEAN DORTON ALLEN FORD PLLC

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990-PF on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
56-1690027
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
1991
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$16,387,147
Income (IRS master file)
$8,089,994

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2025$1,014,490$1,073,958$16,387,147IRS
990-PFDecember 2024$711,739$1,094,224$15,660,342IRS
990-PFDecember 2023$132,351$984,547$15,129,404XML
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1690027).

Questions about THE PHARMACY NETWORK FOUNDATION INC

What is the EIN of THE PHARMACY NETWORK FOUNDATION INC?
The employer identification number (EIN) of THE PHARMACY NETWORK FOUNDATION INC is 56-1690027.
Is THE PHARMACY NETWORK FOUNDATION INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1991.
Are donations to THE PHARMACY NETWORK FOUNDATION INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does THE PHARMACY NETWORK FOUNDATION INC file?
Form 990-PF. Private foundations file every year.
When is the next return of THE PHARMACY NETWORK FOUNDATION INC due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did THE PHARMACY NETWORK FOUNDATION INC last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2025.
Who are the officers and directors of THE PHARMACY NETWORK FOUNDATION INC?
The 990-PF for the year ended December 31, 2025 lists 5 people; 5 received compensation from the organization, the highest $40,800 (MITCHELL W WATTS, PRESIDENT).
How much revenue does THE PHARMACY NETWORK FOUNDATION INC have?
On its 990-PF for the year ended December 31, 2025 it reported revenue of $1,014,490, expenses of $1,073,958 and total assets of $16,387,147 at year end.

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