Finances

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
Legal Fees 41,090 10,034 31,057
Accounting Fees 109,392 0 109,392
Other Fees 1,561,317 1,123,630 437,687
Office Expenses  73,273 32,262 41,011
Information Technology 433,714 241,097 192,618
Travel 303,333 290,225 13,108
Conferences, Conventions, and Meetings 203,735 173,184 30,551
Depreciation 424,076 412,292 11,784
Insurance 43,955 0 43,955
Research Material Costs 3,833,776 3,833,682 93
Other Personnel Costs 1,725,408 1,595,400 130,008
Subawards 1,752,243 1,752,243 0
Equipment Rental & Maintenance 417,581 416,662 918
Other 198,221 147,649 50,572
Total $ 26,886,138 $ 22,817,337 $    4,068,801
As of September 2016, PAVIR had no fundraising expenses