The Pharmacy Network Foundation Inc
The Pharmacy Network Foundation Inc is a private foundation, based in Raleigh, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $16.4M in total assets. In 2025, it awarded 9 grants totaling $755K. Net investment income was $776K.
The Pharmacy Network Foundation Inc at a glance
In short: The Pharmacy Network Foundation Inc gave $755K across 9 grants in 2025 (avg $84K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $755,250
- -3.2% vs 2024
- Grants made (2025)
- 9
- +12.5% vs 2024
- Average grant
- $83,917
- -13.9% vs 2024
- Median grant
- $100,000
- Total assets
- $16,387,147
- +4.6% vs 2024
- Primary geography
- North Carolina (73% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Pharmacy Network Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was Campbell University School of Pharmacy ($225K across 2 grants). Together the top 4 received $530K.
Organizations only. It also paid 3 grants to individuals ($225,250), which are not listed by name.
Grant Size Distribution
41 grants across all recorded years
The most common grant size was in the $100–250K range: 22 grants of 41 (54%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 9 itemized grants.
Cities
How The Pharmacy Network Foundation Inc gives
- Giving held roughly steady from 2022 to 2025 (−7%). Method
- In 2025 it paid out 106% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $695K (2023) to $812K (2022). In 2025 it made 9 grants totaling $755K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Campbell University School of Pharmacy Buies Creek, NC | Fund Dispensing Lab | $125,000 |
| 3 grants to individuals Recipients not named | — | $225,250 |
| Campbell University School of Pharmacy Buies Creek, NC | Pharmacy Student Scholarships | $100,000 |
| The Medical Univ of SC College of Pharmacy Charleston, SC | School of Pharmacy Student Lounge Building Fund | $100,000 |
| The Medical Univ of SC College of Pharmacy Charleston, SC | Pharmacy Student Scholarships | $100,000 |
| Wingate University School of Pharmacy Wingate, NC | Pharmacy Student Scholarships | $100,000 |
| The University of Mississippi School of Pharmacy Oxford, MS | Funding for White Coat Ceremonies for Students | $5,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $16,387,147 | $1,014,490 | $1,073,958 | $755,250 | 9 | $837,829 | $775,520 | $793,667 |
| 2024 | $15,660,342 | $711,739 | $1,094,224 | $780,000 | 8 | $858,432 | $456,979 | $777,447 |
| 2023 | $15,129,404 | $132,351 | $984,547 | $695,000 | 7 | $767,268 | $190,853 | $739,836 |
| 2022 | $14,545,257 | $801,963 | $1,153,164 | $812,000 | 8 | $885,109 | $564,136 | $765,764 |
| 2021 | $18,071,604 | $1,621,934 | $1,000,965 | $710,000 | 9 | $773,730 | $1,376,375 | $881,450 |
| 2020 | $17,631,403 | $302,631 | $993,913 | $720,000 | 8 | — | $73,541 | $771,755 |
Under IRS private-foundation payout rules, The Pharmacy Network Foundation Inc reported a distributable amount of $794K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Pharmacy Network Foundation Inc is led by Mitchell W. Watts, President on every filing since 2020; all 5 officers listed in 2025 are compensated.
Officers on the 2025 filing
Mitchell W. Watts
President
On filings since 2020
2 hrs/week
$41K (2020) → $41K (2025)
Milton Graham Stewart Jr.
Director
On filings since 2022
2 hrs/week
$26K (2022) → $41K (2025)
Phillip A. Ellen
Director
On filings since 2024
2 hrs/week
$26K (2024) → $41K (2025)
J. Andrew Barrett
Treasurer
Vice President → Treasurer, 2024
On filings since 2020
2 hrs/week
$41K (2020) → $41K (2025)
Jimmy S. Jackson
Secretary
Secretary & Treasurer → Secretary, 2024
On filings since 2020
2 hrs/week
$41K (2020) → $41K (2025)
Former officers (1)
- Former: Julian E. Upchurch (2020–2023) — Director
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $41K, to Mitchell W Watts (President). 5 officers or directors reported compensation on that filing.
Frequently asked questions about The Pharmacy Network Foundation Inc
How much does The Pharmacy Network Foundation Inc give each year?
The Pharmacy Network Foundation Inc gave $755K across 9 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $780K across 8 grants.
What is The Pharmacy Network Foundation Inc's typical grant size?
The Pharmacy Network Foundation Inc's median grant in 2025 was $100,000, and its average grant was $83,917, across 9 grants on its 2025 IRS Form 990-PF.
Where does The Pharmacy Network Foundation Inc give grants?
The Pharmacy Network Foundation Inc gives mostly in North Carolina: 73% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest state was South Carolina (26%). The most frequent recipient cities were Buies Creek, NC (2 grants) and Charleston, SC (2 grants).
Does The Pharmacy Network Foundation Inc give general operating support?
Not in 2025: none of the 9 grants with a stated purpose on The Pharmacy Network Foundation Inc's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Pharmacy Student Scholarships" (4 grants).
Who are The Pharmacy Network Foundation Inc's largest grantees?
The Pharmacy Network Foundation Inc's largest 2025 grantees include Campbell University School of Pharmacy ($225,000 across 2 grants), The Medical Univ of SC College of Pharmacy ($200,000 across 2 grants) and Wingate University School of Pharmacy ($100,000), according to its 2025 IRS Form 990-PF. It also paid 3 grants to individuals ($225,250), which are not listed by name. Together they received 70% of its itemized 2025 grant dollars.
How large is The Pharmacy Network Foundation Inc?
The Pharmacy Network Foundation Inc reported $16.4M in total assets on its 2025 IRS Form 990-PF. It paid out $838K in qualifying distributions that year, against a required minimum of $794K (roughly 5% of its investment assets).
What is The Pharmacy Network Foundation Inc's EIN?
The Pharmacy Network Foundation Inc's EIN (Employer Identification Number) is 56-1690027. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(2)
When this profile's IRS filing data changed on Grantable
- Added Form 990-PF for fiscal year 2025 (received by the IRS May 15, 2026)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in The Pharmacy Network Foundation Inc's focus areas in our free grants database
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The Pharmacy Network Foundation Inc down — hundreds of funders to go?