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Finances

Your trust is our constant inspiration to use every dollar you invest in PATH wisely and well. We uphold the highest standards for financial transparency so you can see where our money comes from—and where it goes.

Our promise

We will use your investment in the most effective way possible. For every dollar you invest, we spend more than 85 cents solving the world’s most challenging health problems and less than 2 cents on fundraising.

Our diverse base of support

We started in 1977 with a modest grant from the Ford Foundation. Today, thousands of institutions and individuals invest in our work to make good health accessible to people everywhere.

This is where our funding came from, and how we used it, in 2021:

PATH 2021 sources of revenue chart
PATH 2021 use of funds chart
PATH 2021 expense allocation chart-Nov. 2022 update

A deeper dive

Want to know more about our finances? See our most recent documents below or view all available financial documents.

Letter of 501(c)3 tax-exempt status (33 KB PDF)

US state government disclosure statements


Annual reports

2021 annual report - English (3.2 MB PDF)

2021 annual report - French (2.7 MB PDF)

2020 annual report (6,600 KB PDF)

2019 annual report (4,302 KB PDF)


Consolidated financial statements and functional expenses

Consolidated Financial Statement for 2021 ( 1.1MB PDF)

Consolidated financial statements for 2020 (1MB PDF)

Consolidated financial statements for 2019 (907KB PDF)

Consolidated financial statements for 2018 (267 KB PDF)


PATH informational returns: IRS Form 990

IRS Form 990 informational return for 2021 (995.8 KB PDF)

IRS Form 990 informational return for 2020 (858 KB PDF)

IRS Form 990 informational return for 2019 (884 KB PDF)

IRS Form 990 informational return for 2018 (662 KB PDF)


PATH Drug Solutions informational returns: IRS Form 990

IRS Form 990 informational return for PATH Drug Solutions, 2016 (527 KB PDF)

IRS Form 990 informational return for PATH Drug Solutions, 2015 (572 KB PDF)

IRS Form 990 informational return for PATH Drug Solutions, 2014 (528 KB PDF)


PATH Vaccine Solutions informational returns: IRS Form 990

IRS Form 990 informational return for PATH Vaccine Solutions, 2016 (550 KB PDF)

IRS Form 990 informational return for PATH Vaccine Solutions, 2015 (582 KB PDF)

IRS Form 990 informational return for PATH Vaccine Solutions, 2014 (573 KB PDF)


View all available financial documents.


You may also email us at info@path.org for more information.