Financial Statements

Financial responsibility is one of the hallmarks of our organization. This is why our benefactors, and the researchers we support, trust us to manage the Institute's financial resources efficiently and without bias. We understand the value in due diligence as an evaluation and assessment tool and invite you to review our Annual Reports, Independent Audits, and Tax Filings.

We also appreciate that that the due diligence process can be complicated and misinterpretation of data is commonplace, especially among non-profit organizations. We offer the following bulleted list to assist you during your review.

• The IRS, via a Letter of Determination, has classified the Institute for Science and Health as a Private Operating Foundation.
• As a Private Operating Foundation the Institute is required to file an IRS Form 990-PF each tax year. This form differs from Form 990 filed by Public Charities.
• IRS Forms 990 and 990-PF are not currently equivalent and thus cannot be reviewed in the same manner.
• Charity Navigator ( www.charitynavigator.org ), North America's premier independent charity evaluator, does not evaluate Private Foundations of any type because the IRS requires that Private Foundations file a form 990-PF which differs from the document public charities file, making it impossible to accurately compare the financial performance of private foundations to public charities.
• Fiscal year designation does not match the IRS Form 990-PF year.
• The Institute's fiscal year runs Oct 1 - Sept 30, spanning calendar years. According to IRS regulations, tax filings for any fiscal year must be submitted in the form in which the fiscal year began (e.g., FY 2008 will be reported on the 2007 IRS Form 990-PF because the Institute's fiscal year began on October 1, 2007).
• Review documents spanning several years for a more accurate picture.
• The Institute has traditionally received large corporate grants and/or donations in a stochastic manner that is independent of our fiscal year. This dramatically affects the values reported in our tax filings and annual reports.
• The Institute mission is accomplished by supporting of research projects through a grant-making process. Outgoing grant awards typically range from one to four years. Thus outgoing grant award expenditures associated with a single large income event will be distributed across several fiscal years.
• Operating expenditures are calculated using federal guidelines
• Operating expenditures, or overhead costs, are reported in our Annual Reports and are calculated using guidelines set forth in documents for the Combined Federal Campaign, permitting a method by which such expenditures can be compared between different non-profit organizations on a equivalent basis.
• The Institute houses several independent Foundations under its 501(c)(3) umbrella
• The Institute facilitates the management of independent Foundations in much the same way as a community foundation.
• Income, expenses, and operating costs for the Foundations are co-reported on the Institute's financial statements, complicating interpretation of the data reported.

We sincerely hope that this information is helpful in your review of the Institute.

During your review process please keep in mind that in an article presented on Slate ( www.slate.org/id/2227676 ) Sandy Stonesifer, daughter of former Gates Foundation head Patty Stonesifer, states;

“Looking at a charity's financial information is great, helpful even, but it doesn't give you the full picture. The forms tell you nothing about whether an organization is meeting its objectives. Or whether its objectives were good in the first place. And they certainly don't tell you anything about how Charity A accomplishes its mission in relation to Charity B. So use the financial information for what it is worth – an easy indicator of an organization's financial health and expenditures – but don't let it alone determine how you donate.”

The Institute for Science and Health urges you to make inquiries directly with Institute staff to complete an accurate and informative assessment.

Please select the "Year Designation" under each topic to access each document. Documents are in PDF format and require Adobe Acrobat Reader for viewing.

Annual Reports

| FY 2004 | FY 2006 | FY 2008 | FY 2009 |

Independent Audits

| FY 2005 | FY 2006 | FY 2007 | FY 2008 | FY 2009 | FY 2010 |

Tax Filings - Internal Revenue Service (Form 990PF)

| FY 2006 | FY 2007 | FY 2008 | FY 2009 | FY 2010 |