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Financials & Compliance

More than five decades of financial stability, so programs can launch, deepen and grow.

For more than five decades, PHI has served as the fiscal agent for the innovative projects it supports and the dynamic public health leaders it attracts. PHI remains committed to financial integrity, transparency, and stability, and to leveraging resources, partnerships and collaboration to maximize advances that improve public health and well-being in the U.S. and around the world. PHI serves as a comprehensive fiscal sponsor for initiatives that scale from a single committed researcher to programs with more than 100 staff, and manages awards from 300+ funding sources. PHI has a history of receiving unqualified opinions on its audits—an important designation that indicates financial compliance and transparency, and which makes PHI competitive for federal and other funding streams.

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2021 Financial Snapshot


Prior year restricted revenue: released18,460,287
Grants and contracts242,342,512
Other revenue1,675,395
Total 262,478,194


Research and program services 230,353,554
Management and general 22,792,375
Total 253,145,929

Net Asssets

Net assets at beginning of year 58,940,365
Change in unrestricted net assets 9,332,265
  • 90% Direct Research & Program Services
  • 10% Management and General Rate
  • < 1% Fundraising

The information presented here is drawn from PHI’s financial statements, prepared by independent auditors Crowe LLP, Certified Public Accountants.

Financial Statements and Reviews


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