PAVIR’s had a successful fiscal year. As of September 30, 2016, PAVIR’s net assets increased by 20.7% compared to the previous fiscal year.
Our total revenue for this time period amounted to $28.2M, our total expenses were $26.9M.
PAVIR’s revenues stem mostly from project specific funding based on the high quality research proposals submitted by the researchers in our research community.
During FY 2015 and FY 2016 PAVIR invested in the growth of the institution’s industry sponsored research program which resulted in a 112% growth in revenues for industry sponsored research by September 30, 2016.
This table summarizes the statement of functional expenses as submitted to the IRS on PAVIR’s “Return of Organization Exempt from Income Tax Form 990.”
|Statement of Functional Expenses||Total||Program||Management|
|Compensation of current Officers and Key Employees||$ 526,954||$ 0||$ 526,954|
|Other Salaries and Wages||12,496,177||10,543,635||1,952,543|
|Pension Plans, Other Employee Benefits, and Payroll Taxes||2,741,893||2,245,342||496,551|
|Conferences, Conventions, and Meetings||203,735||173,184||30,551|
|Research Material Costs||3,833,776||3,833,682||93|
|Other Personnel Costs||1,725,408||1,595,400||130,008|
|Equipment Rental & Maintenance||417,581||416,662||918|
|Total||$ 26,886,138||$ 22,817,337||$ 4,068,801|
|As of September 2016, PAVIR had no fundraising expenses|