International Vaccine Institute

What it reported doing in 2024

The phase ii component of the study is completed, and the interim clinical study report (csr) from phase ii (parts a and b) is available. Based on additional testing results of days 28 and 56 of phase 2 subgroup samples, data from nhp passive transfer study, and safety data, a final decision on the optimal dose for part c was made, and 40 ug was selected. A consortium consensus justification memo of final dose selection is completed. Protocol amendment v 5.0 containing this new information was approved by local ecs and nras. Virtual pi meetings with all sites to update program status and projection of part c start date were performed. A new version of the investigator brochure (ib) was released in february 2024. An ad hoc dsmb meeting that aimed to review in more detail the pregnancies cases that occurred in the phase 2 clinical trial in february 2024. No safety concerns were found in the reported data. The start of enrolment for part c is now planned in q3 2025 due to changes in the ip manufacturing process (from cell stacks to bioreactors) and sponsorship changes from ivi to bharat gccdp 2 clinical trial protocol summaries (including children and immunosuppressed population) were presented to cepi during the bid defense meeting held in london in february 2024

Financial Efficiency

• Mission deployment rate: 86.5%; rating input score 87
• Program expense ratio: 80%; rating input score 80
• Fundraising efficiency: $1,877.49 raised per $1 spent on fundraising; rating input score 97; 97th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 3 of 8 controls in place; rating input score 38
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Pass
  • Conducts field audits: Limited
  • May suspend future funding: Limited
  • Requires financial reports: Limited
  • Conducts site visits: Pass
  • Requires grant agreements: Limited
  • May require repayment: Limited
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95%; rating input score 95; 47th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • 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: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -7.7%; rating input score 10; 10th percentile among comparable filings
• Total-asset coverage ratio: 1.37; rating input score 50; 50th percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 86; 86th percentile among comparable filings
• Officer compensation ratio: 6.8%; rating input score 8; 8th percentile among comparable filings

Growth

• Program expense growth: 13.9% per year; rating input score 100; 85th percentile among comparable filings
• Revenue growth: 12.1% per year; rating input score 100; 83rd percentile among comparable filings
• Asset growth: 9.5% per year; rating input score 100; 68th percentile among comparable filings