For most of its more than 25 years of history, PAVIR has relied on 100% sponsor funded research, including federal, state, private, and industry funding.
In these changing times of increasingly intense competition for external funding, we recognize that translating research innovations into health improvements for Veterans is larger, more inter-disciplinary, and requires more specialized infrastructure than traditional grant funding alone can address. To fully realize our purpose, we depend on the support and generosity of individual donors.
As part of expressing our ethical standards, we are committed to our role as stewards of the research funds we are privileged to administer. This includes funds entrusted to us by our donors. PAVIR administrative staff fully embraces the PAVIR values and is constantly seeking better and more cost effective ways to address the multi-faceted research compliance and rigor that characterizes top notch research.
Many of our staff are donors to PAVIR, and to other worthy causes. We understand that donors want their funds to be well used and safeguarded against waste or loss. Our investment processes stress safeguarding our assets, and we only invest in the most conservative investment instruments.
We believe in our staff and their need to have the right tools to effectively address their work, but our administrative needs are always balanced with our research purpose to maximize investments in research. The management portion of our total research expenses amounts to 14.9%, which compares well with other research institutes in highly regulated environments.