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50 years of financial stability so programs can launch, deepen and grow.

For 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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2019 Financial Snapshot


Grants and contracts112,206,006
Other revenue484,916


Research and program services 96,421,631
Management and general15,592,750

Net Asssets

Net assets at beginning of year18,379,893
Change in net assets476,541
Net assets at end of year18,856,434
  • 83.7% Direct Research & Program Services
  • 16.3% Indirect Expenses
  • < 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

Research Compliance


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“We Were Able to Control the Outbreak” - Thanks to PHI

As COVID-19 cases are rising across the country, our work is more urgent than ever. PHI continues to lead public health efforts to address COVID-19 around the country and globally. Donate today and support our work to curb the pandemic.

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