Our 2013 online annual report viewed on an iPad.

Our donors’ support fuels transformative innovation that touches millions around the world. Read more in our 2013 online annual report. Photo: PATH/Dave Simpson.

PATH maintains the highest standards for efficiency and transparency

The trust of our supporters is one of our most valuable resources—and a constant inspiration to use funds wisely and well.

For the tenth consecutive year, Charity Navigator (America’s largest independent evaluator of nonprofit organizations) has awarded us four stars for financial stewardship! And we remain on Forbes’ list of the top 200 charities, with high marks for keeping operating costs low and channeling supporters’ investments into the real work of improving global health.

The following financial summary is from our most recent (2013) annual independent audit.

Growth and focus

PATH continues to grow. We started in 1977 with a modest grant from the Ford Foundation. Since then, our revenue has increased from less than $20 million to more than $300 million.

This growth has occurred across all of PATH's areas of focus, from emerging and epidemic diseases (e.g., HIV, tuberculosis, and malaria) to new vaccines to innovative technologies for low-resource settings. The following chart shows our use of funds by focus area.

Pie chart showing PATH's 2013 use of funds: 49.7% product development, 28.8% international development, 19.1% public health impact, and 2.4% cross-program initiatives.

Diverse funding sources

In 2013, our total revenue was $315,128,000. Our funding comes from foundations; the US government; other governments, other nonprofit organizations, and multilateral agencies such as the World Health Organization; individuals; and interest from investments.

Pie chart showing PATH's 2013 sources of revenue: 47.6% foundations; 33.2% US government; 14.3% other governments, NGOs, and multilaterals; 2.3% investments; 2.0% individuals/others; and 0.6% corporations.


Nearly 85 percent of our expenses go toward our programs to improve the health of people around the world; less than 1 percent is for fundraising.

Pie chart showing PATH's 2013 expense allocations: 84.9% program services, 13.4% management and general, 0.9% fundraising, and  0.8% bid and proposal.

More information

The following documents provide more detailed information about our finances.

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Illustrations: PATH/Dave Simpson.