Global Health Investment Corporation

What it reported doing in 2024

In april 2024, the global health investment corporation (ghic) held the initial closing of the global health security fund, l.p. (ghsf) with a total of $272.589 million in subscriptions by eight investors, including $175 million from ghic slp, llc using funding provided by barda. As part of the initial closing, ghic slp, llc contributed to ghsf all its investments made to date, which contribution fulfilled in part the capital commitments to ghsf of mitre and of ghic slp, llc. As of the end of 2024, ghsf had deployed $85.4 million in total of its investment capital, including those investments contributed to ghsf at initial closing and investments made since initial closing. (continued schedule o) (continued from part iii, 4a) as part of the initial closing of ghsf, ghic made its first fund investment under its catalytic health investment platform (chip), funded by the german government affiliated development bank kfw, by committing $10 million to ghsf. In september 2024, ghic made its second fund investment under chip by committing $5 million to transform health fund llc using funds provided by kfw. In december 2024, kfw agreed to increase the funds available under chip from 30.5 million to 40.5 million.also in 2024, ghic publicly announced the commencement of the "frontier fund," an initiative to identify and accelerate high-potential translational research through non-dilutive funding, funded with $20 million granted to the ghic by the u.s. Department of health and human services office of the assistant secretary for preparedness and response's biomedical advanced research and development authority ("barda") under an other transaction agreement ("ota"), and selected its first two award recipients for funding under the frontier fund.

Financial Efficiency

• Mission deployment rate: 16.3%; rating input score 16
• Program expense ratio: 80%; rating input score 80
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 75%; rating input score 75; 14th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 75.3%; rating input score 98; 98th percentile among comparable filings
• Total-asset coverage ratio: 55.02; rating input score 99; 99th percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 46.7%; rating input score 0; 0th percentile among comparable filings

Growth

• Program expense growth: 34.5% per year; rating input score 100; 96th percentile among comparable filings
• Revenue growth: 37.7% per year; rating input score 100; 97th percentile among comparable filings
• Asset growth: 33.5% per year; rating input score 100; 97th percentile among comparable filings