In order to fulfill our mission and hold ourselves accountable to our donors, we strive to be good stewards of every donation and valuable resource.
—Patricia M. Pearce, CPA, CGMA, Chief Financial Officer & VP, Administration
Financials
2019 Financials
| 2019 Revenue | Amount | Percentage |
|---|---|---|
| In-kind pharmaceutical contribution* | $234,188,308 | 96.6% |
| Corporate services agreements | $155,625 | 0.1% |
| Contributions, grants & sponsorships | $7,872,440 | 3.2% |
| Diagnostic program revenue | $227,303 | 0.1% |
| Other Income | $18,894 | 0% |
| Total | $242,462,570 | 100.0% |
| 2019 Expenses | Amount | Percentage |
|---|---|---|
| Program expense | $6,869,165 | 2.3% |
| Program in-kind expenses* | $295,721,924 | 97.2% |
| Management & general | $1,213,965 | 0.4% |
| Fundraising expenses | $565,305 | 0.2% |
| Total | $304,370,359 | 100% |
Valuation of Gifts-In-Kind
*The Organization recognizes in-kind contributions consisting of pharmaceuticals, medical devices and related products. These goods are recorded as inventory and revenue at fair value at the time received and as a reduction to inventory and program expense when the goods are distributed. Pharmaceutical inventory is released using a specific identification method based on expiration date and is reviewed at least annually for impairment. Pharmaceutical inventory is disposed and written off as obsolete when it is determined the pharmaceutical cannot be imported into a specific country of destination with shelf‐life sufficient to comply with local importation regulations and the Organization’s own guidelines.
Previous Financials
The Max Foundation is committed to transparency, ethical accounting, and donor stewardship. The Max Foundation is a US registered 501(c)(3) non-profit organization. Donations to The Max Foundation are tax-deductible to the extent permitted by the law. Our fiscal year runs January through December and we post our audited financials and annual report during the summer of the following year.
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