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Financials

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

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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