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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
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Independent Audits
| FY 2005
| FY 2006
| FY 2007
| FY 2008
| FY 2009
| FY 2010
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Tax Filings - Internal Revenue Service
(Form 990PF)
| FY 2006
| FY 2007
| FY 2008
| FY 2009
| FY 2010
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