The Post-Finasteride Syndrome Foundation Is Granted Nonprofit Status by the IRS as a Public Charity
SOMERSET, N.J., March 18, 2013 – The Post-Finasteride Syndrome Foundation today announced that it has been granted 501(c)(3) status by the Internal Revenue Service.
According to IRS regulations, the nonprofit status is retroactive to July 15, 2012, meaning all donations made to the PFS Foundation on or after July 15, 2012 are tax-deductible in the United States. Donations made from outside the U.S. may also be tax-deductible, depending on local tax codes.
|Dr. John Santmann (above) CEO of PFS Foundation.|
“We thank the IRS for classifying us as a public charity,” said PFS Foundation CEO Dr. John Santmann. “Though thousands of men worldwide are likely suffering from post-finasteride syndrome—with potentially millions more at risk of developing the condition in the coming years—only a handful of medical professionals recognize the symptoms. And even when they do, there are no effective treatments. Those will only come through research at the molecular level.
“Nonprofit status will allow us to put more dollars to work pursuing our core goal, which is funding research on the characterization, underlying biologic mechanisms and treatments of PFS,” added Dr. Santmann.
PFS is characterized by sexual, neurological, hormonal and psychological side effects that persist in men who have taken the prescription drug finasteride to treat hair loss (under the brand name Propecia and generics), or enlarged prostates (Proscar and generics).
Reported symptoms include loss of libido, erectile dysfunction, suicidal ideation, anxiety, panic attacks, Peyronie’s disease, penile shrinkage, gynecomastia, muscle atrophy, cognitive impairment, severely dry skin, and depression. The condition often has a life-altering impact on victims and their families, such as job loss and the breakup of marriages and romantic relationships, while also being linked to suicides.
On April 11, 2012, the FDA ordered drug manufacturer Merck to revise the labeling on Propecia to reflect mounting evidence that it can cause persistent sexual dysfunction. Of the 421 Propecia-related sexual dysfunction cases reviewed by the FDA in its probe, 14 percent lasted longer than three months after patients quit the drug.
About the PFS Foundation
Headquartered in Somerset N.J., the Post-Finasteride Syndrome Foundation was established in July 2012, with private grants from families in the U.S. and abroad. Tax-deductible financial donations to the foundation can be made via PFSFoundation.org, which also houses published research, research goals, and media reports about PFS.
About Dr. John Santmann
Dr. Santmann brings three decades of medical experience to the PFS Foundation. An Emergency Department physician by training, he spent two years in residency at Norfolk General Hospital in Norfolk, Va., after completing his internship at Alameda County Medical Center in Oakland, Calif. From 1988 to 1999, he practiced at both community- and academic-based medical centers in Missouri and New Jersey, including the Robert Wood Johnson Medical Center in New Brunswick, N.J. In recent years, Dr. Santmann has worked in the field of healthcare information technology. He earned his M.D. from Washington University School of Medicine in St. Louis and his B.A., in biophysics, from The Johns Hopkins University.