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.

2019 Financial documents

2019 Annual Report | 2019 Financial Statements (PDF) | 2019 Form 990 (The Max Foundation) | 2019 Form 990 (MAXAID)

Previous Financials


2018 Annual Report | 2018 Consolidated Financial Statements (PDF) | 2018 Form 990 (The Max Foundation) (PDF) | 2018 Form 990 (MAXAID) (PDF)


2017 Annual Report (PDF)| 2017 Consolidated Financial Statements (PDF) | 2017 Form 990 (PDF)


2016 Annual Report | 2016 Consolidated Financial Statements (PDF)


2015 Annual Report


2014 Annual Report (PDF)

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.