Civic Intelligence

International Partnership for Microbicides Inc

990 • Fiscal year 2017 • EIN 01-0741733

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 07, 2018

8405 Colesville Road Suite 600Silver Spring, MD 20910

(301) 608-2221

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

65th percentile

0.42x

Higher debt load relative to assets than 65% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

48th percentile

0.27x

Higher debt load relative to revenue than 48% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

24th percentile

-3.0%

Higher net margin than 24% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

86th percentile

$558,557

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

79th percentile

15%

Faster asset growth than 79% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

30th percentile

-0.7%

Faster revenue growth than 30% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$23,049,272

Up $2,989,077 (+15%) from 2016

Net Assets

Down

$13,260,406

Down $1,274,660 (-8.8%) from 2016

Liabilities

Up

$9,788,866

Up $4,263,737 (+77%) from 2016

Revenue

Down

$35,724,324

Down $247,478 (-0.7%) from 2016

Expenses

Up

$36,807,047

Up $3,028,006 (+9.0%) from 2016

Net Income

Down

-$1,082,723

Down $3,275,484 (-149%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $81,520,037Liabilities 2010: $58,213,017Net Assets 2010: $23,307,0202010Assets 2011: $52,600,905Liabilities 2011: $31,502,185Net Assets 2011: $21,098,7202011Assets 2012: $41,958,199Liabilities 2012: $22,695,453Net Assets 2012: $19,262,7462012Assets 2013: $40,537,408Liabilities 2013: $23,421,275Net Assets 2013: $17,116,1332013Assets 2014: $28,873,020Liabilities 2014: $14,087,446Net Assets 2014: $14,785,5742014Assets 2015: $23,222,913Liabilities 2015: $10,179,304Net Assets 2015: $13,043,6092015Assets 2016: $20,060,195Liabilities 2016: $5,525,129Net Assets 2016: $14,535,0662016Assets 2017: $23,049,272Liabilities 2017: $9,788,866Net Assets 2017: $13,260,4062017Assets 2018: $24,838,200Liabilities 2018: $12,803,774Net Assets 2018: $12,034,4262018Assets 2019: $28,113,782Liabilities 2019: $15,676,294Net Assets 2019: $12,437,4882019Assets 2020: $23,470,693Liabilities 2020: $11,916,324Net Assets 2020: $11,554,3692020Assets 2021: $16,214,079Liabilities 2021: $4,385,112Net Assets 2021: $11,828,9672021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2017

Assets$23,049,272
Liabilities$9,788,866
Net Assets$13,260,406

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $56,341,7012010Expenses 2011: $37,733,2382011Revenue 2012: $31,674,981Expenses 2012: $31,029,986Net Income 2012: $644,9952012Revenue 2013: $32,787,591Expenses 2013: $33,447,172Net Income 2013: -$659,5812013Revenue 2014: $31,552,023Expenses 2014: $32,244,291Net Income 2014: -$692,2682014Revenue 2015: $33,000,728Expenses 2015: $33,224,496Net Income 2015: -$223,7682015Revenue 2016: $35,971,802Expenses 2016: $33,779,041Net Income 2016: $2,192,7612016Revenue 2017: $35,724,324Expenses 2017: $36,807,047Net Income 2017: -$1,082,7232017Revenue 2018: $25,206,212Expenses 2018: $26,337,178Net Income 2018: -$1,130,9662018Revenue 2019: $25,249,274Expenses 2019: $24,773,576Net Income 2019: $475,6982019Revenue 2020: $20,164,784Expenses 2020: $20,752,154Net Income 2020: -$587,3702020Revenue 2021: $20,220,623Expenses 2021: $19,901,457Net Income 2021: $319,1662021Revenue 2022: $9,961,492Expenses 2022: $12,803,344Net Income 2022: -$2,841,8522022

Highlighted filing

2017

Revenue$35,724,324
Expenses$36,807,047
Net Income-$1,082,723
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 7, 2018
Return Version
2017v2.3
Gross Receipts
$42,407,567
Mission and Program Overview

Mission

The international partnership for microbicides, inc. (ipm) was established in 2002 to accelerate the development and accessibility of microbicides to prevent the transmission of hiv. Its goal is to improve the efficiency to all efforts to deliver a safe and effective microbicide for women in developing countries as soon as possible.

To develop hiv prevention products and other sexual and reproductive health technologies for women, and to make them available and accessible where they are urgently needed.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$6,311,229$11,761,856▲ $5,450,627
Pledges and Grants Receivable$4,808,106$6,647,444▲ $1,839,338
Land, Buildings, and Equipment, Net$2,875,959$3,694,037▲ $818,078
Prepaid Expenses and Deferred Charges$677,521$530,655▼ $146,866
Savings and Temporary Cash Investments$5,194,090$247,161▼ $4,946,929
Accounts Receivable$15,868$6,311▼ $9,557
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$20,060,195$23,049,272▲ $2,989,077
Other Assets Total$177,422$161,808▼ $15,614
Liabilities
Accounts Payable and Accrued Expenses$4,658,423$4,559,965▼ $98,458
Deferred Revenue$831,193$4,415,411▲ $3,584,218
Other Liabilities$35,513$813,490▲ $777,977
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,525,129$9,788,866▲ $4,263,737
Net Assets / Fund Balance
Unrestricted Net Assets$14,535,066$13,260,406▼ $1,274,660
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$14,535,066$13,260,406▼ $1,274,660
Total Liabilities and Net Assets / Fund Balance$20,060,195$23,049,272▲ $2,989,077

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,916,940$4,314,061$7,231,001
Other Land Buildings$18,996$2,394,258$2,413,254
Leasehold Improvements$758,101$120,231$878,332
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Zeda F RosenbergFounder and CEOFT$450,440$108,117$558,557
Michael I GoldrichPresident and COOFT$399,189$104,434$503,623
Brid T DevlinEVP, Product DevelopmentFT$342,518$89,104$431,622
Patricia MayerEVP, Regulatory AffairsFT$302,260$73,708$375,968
Kathleen FlynnChief Financial OfficerFT$264,916$61,507$326,423
Liza FolsteinSr. Director, Human ResourcesFT$222,127$76,307$298,434
Jeremy NuttallSr. Director, Pre-Clin ScienceFT$216,998$75,750$292,748
Anita GargSr. Program Director, DapiviriFT$213,364$66,473$279,837
Patrick SpenceDirector, Chemistry & AnalyticFT$194,441$82,696$277,137
Annalene NelEVP, Chief Medical OfficerFT$233,390$38,267$271,657
Sharyn TennSr. Dir, External Affairs andFT$182,118$59,977$242,095

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
QpharmaManufacturingBOX 590 SE-201 25, Malmo, 0, Sw$4,140,375
Sgs - Medisearch InternationalManufacturingGENERAAL DE WITTELAAN 19A BUS 5, Louvain La Nueve, 0, Be$1,347,432
OmnichemManufacturingINDUSTRIAL RESEARCH PARK FLEMING, Parktown, 0, Be$1,174,999
Wits Health ConsortiumResearch Center8 BLACKWOOD AVE, Ladysmith, 0, Sf$1,079,525
Qhakaza MbokodResearch CenterPO BOX 3269, Sf$1,068,355
Revenue and Support

Revenue Composition

Contributions and Grants
$35,624,357
Program Service Revenue
$0
Investment Income
$91,342
Other Revenue
$8,625
All Other Contributions
$22,413,387
Change in Net Assets
$-1,082,723

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,724,324
Revenue Not Reported on Form 990
$-156,711
Total Revenue per Audited Statements
$35,567,613
Total Revenue per Form 990
$35,724,324
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$24,657,832
Salaries, Compensation, and Employee Benefits$12,149,215
Total Fundraising Expense$246,069
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,952,022$1,809,568-$6,761,590
Current Officers, Directors, Trustees, and Key Employees$1,721,355$1,340,165$68,388$3,129,908
Office Expenses$1,230,183$143,127$4,170$1,377,480
Other Employee Benefits$710,042$360,381$8,111$1,078,534
Travel$540,806$205,293$589$746,688
Pension Plan Contributions$463,562$251,750$5,277$720,589
Depreciation Depletion$622,117$62,273-$684,390
Occupancy$328,513$232,411$6,340$567,264
Payroll Taxes$292,389$162,455$3,750$458,594
Fees for Services Legal$261,614$52,858$703$315,175
Insurance$206,942$51,001$2,379$260,322
Conferences and Meetings$159,199$73,762$10$232,971
Fees for Services Accounting-$111,905-$111,905
Other Expenses$249,093$78,406$3,993$78,406
All Other Expenses$25,218$12,875$569$38,662
Total Functional Expenses$31,144,260$5,416,718$246,069$36,807,047

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$36,842,273
Expenses per Audited Statements$36,807,047
Total Expenses per Form 990$36,807,047
Expenses Not Reported on Form 990$35,226
International Activity

International Summary

Offices
1
Employees
39
Spending
$8,524,399

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaProgram ServicesClinical139$7,893,183
Sub-Saharan AfricaProgram ServicesProgram Services--$606,052
Sub-Saharan AfricaProgram ServicesRegulatory & Qa Serv--$16,724
Sub-Saharan AfricaProgram ServicesProduct Development--$8,440
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$813,490
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11:

Draft version is made available electronically to the finance committee before submission to the irs.

FORM 990, PART VI, SECTION B, LINE 12C:

Employees are required to complete a confidentiality agreement with the organization annually. The employee discloses any areas of potential conflict of interest and agrees to notify the appropriate individuals of any potential occurrences.

FORM 990, PART VI, SECTION B, LINE 15:

The salary of the ceo is determined by referencing industry data to identify compensation level based on responsibilities, size of organization, and funding levels. Once the data is accumulated, the information is then presented to the finance chairperson and committee for review and approval of the board of directors. Upon approval, the information is forwarded to the hr department by ipms legal counsel for implementation. All chief level salaries are subject to the same procedures as the ceo salary review process. Compensation level recommendations are presented to the finance chairperson and committee for review and approval of the board of directors. Once the compensation level has been approved, the ceo submits these approvals to hr for implementation.

FORM 990, PART VI, SECTION C, LINE 19:

The organizations governing documents, conflict of interest policy and financial statements are made available to the public upon request. The financial statements are also part of the organization's annual report which is distributed to its donors and available to the public upon request.

Filing and Contact Details

Filer

Filer Name
International Partnership for Microbicides
EIN
01-0741733
In Care Of
% ZEDA F ROSENBERG
Phone
3016082221
Address
8405 Colesville Road Suite 600, Silver Spring, MD 20910

Signing Officer

Name
Kathleen Flynn
Title
CFO
Phone
3016082221
Signed
2018-08-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
zeda f rosenberg
Formed
2002
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
50
Volunteers
12

Preparer

Firm
Bdo USA Llp
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Marc Berger
Phone
7038930600
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:

OTHER PROGRAMS - PROGRAM SUPPORT: PROGRAM SUPPORT & ACCESS: THE EXTERNAL AFFAIRS UNIT EXISTS TO BUILD AWARENESS GLOBALLY ABOUT MICROBICIDES AND CREATE A FAVORABLE ENVIRONMENT IN SUPPORT OF MICROBICIDE PRODUCT DEVELOPMENT. THIS IS ACHIEVED BY INFORMING, EDUCATING, AND BUILDING SUPPORT FOR IPM'S WORK THROUGH COMMUNICATION MATERIALS, ADVOCACY AND DIRECT STAKEHOLDER ENGAGEMENT. expenses $2,238,265. including grants of $0. revenue $0.

FORM 990, PART XI, LINE 9:

foreign currency loss -166,788.

FORM 990, PART XII, LINE 2C:

The process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.

Financial Statement Notes

PART X, LINE 2:

Ipm is generally exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code. In addition, ipm qualifies for charitable contributions deductions and has been classified as an organization that is not a private foundation. Income which is not related to exempt purposes, less applicable deductions, is subject to federal and state corporate income taxes. There was no tax liability for unrelated business income for the years ended december 31, 2017 and 2016. Generally, ipm is no longer subject to u.s. Federal or state tax examinations by tax authorities before 2014. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position taken would be sustained in a tax examination, presuming that a tax examination will occur. Management has evaluated ipm's tax positions and has concluded that ipm has taken no uncertain tax positions. Ipm recognizes interest and/or penalties related to uncertain tax positions, if any, in the income tax expense in the accompanying statement of activities. No interest and/or penalties were recorded for the years ended december 31, 2017 and 2016 related to uncertain tax positions.

PART XI, LINE 2D:

Foreign currency loss -$166,788 revenue of affilliates in consolidated financials $35,226

PART XII, LINE 2D:

Expenses of affilliates in consolidated financials -$35,226

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IRS990/Desc0IPM'S CLINCIAL DIVISION IS RESPONSIBLE FOR QUALITY MANAGEMENT AND COMPLIANCE, MEDICAL SAFETY, CLINICAL OPERATIONS, BIOMETRICS, PUBLIC AFFAIRS, COMMUNITY PUBLIC AFFAIRS AND SOCIO-BEHAVORIAL SCIENCE FOR IPM'S CLINICAL TRAILS. KEY CLINICAL TRIALS INITIATED OR ONGOING IN 2017 INCLUDED: - THE DREAM STUDY: INITIATED IN JULY 2016, DREAM (DAPIVIRINE RING EXTENDED ACCESS AND MONITORING/IPM 032) is an open-label study providing the dapivirine ring to women who participated in the FORMER PHASE III DAPIVIRINE RING TRIAL IN AFRICA - THE RING STUDY - WHO TEST HIV-NEGATIVE AND ARE NOT PREGNANT. THE STUDY IS collecting additional safety data and information on how women use the ring now that they are aware it was shown to reduce HIV risk in the Phase III studies. Interim results announced in March 2018 show encouraging increases in ring use and modeling data suggest greater risk reduction compared to the Phase III studies. - PHASE I STUDY OF IPM'S MULTIPURPOSE PREVENTION TECHNOLOGY (MPT) - the dapivirine-contraceptive ring: The three-month dapivirine-contraceptive ring is designed to provide slow and simultaneous release of both the antiretroviral (arv) drug dapivirine to prevent HIV and the contraceptive hormone levonorgestrel to prevent unintended pregnancy. The first safety study of IPMs dapivirine-contraceptive ring began in April 2017 at two sites in the US, and is being led by IPMs partner, the US National Institutes of Health-funded Microbicide Trials Network (MTN). - PHASE I OF IPM'S THREE MONTH DAPIVIRINE RING: Building on the promise of IPMs monthly dapivirine ring, in December 2017, IPM began the first clinical trial of its three-month dapivirine ring designed to prevent HIV in women. The three-month ring would increase convenience and reduce annual costs. Results of the Phase I trial, which is being conducted by the MTN in collaboration with IPM, will inform the design of future clinical studies and a possible regulatory strategy for this next-generation product.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Founder and CEO
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IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13President and COO
IRS990/Form990PartVIISectionAGrp/TitleTxt14Chief Financial Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt15EVP, Product Development
IRS990/Form990PartVIISectionAGrp/TitleTxt16EVP, Regulatory Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt17EVP, Chief Medical Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt18Sr. Director, Human Resources
IRS990/Form990PartVIISectionAGrp/TitleTxt19Sr. Program Director, Dapiviri
IRS990/Form990PartVIISectionAGrp/TitleTxt20Sr. Director, Pre-Clin Science
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director, Chemistry & Analytic
IRS990/Form990PartVIISectionAGrp/TitleTxt22Sr. Dir, External Affairs and
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$9.96$12.8$2.84
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$4.39$11.8$20.2$19.9$0.32
2020Detailed filing. Detailed filing data is available for this year.$23.5$11.9$11.6$20.2$20.8$0.59
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.1$15.7$12.4$25.2$24.8$0.48
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$12.8$12.0$25.2$26.3$1.13
2017Detailed filing. Detailed filing data is available for this year.$23.0$9.79$13.3$35.7$36.8$1.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.1$5.53$14.5$36.0$33.8$2.19
2015Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$23.2$10.2$13.0$33.0$33.2$0.22
2014Detailed filing. Detailed filing data is available for this year.$28.9$14.1$14.8$31.6$32.2$0.69
2013Detailed filing. Detailed filing data is available for this year.$40.5$23.4$17.1$32.8$33.4$0.66
2012Summary only. Only limited summary data is available for this year.$42.0$22.7$19.3$31.7$31.0$0.64
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.6$31.5$21.1$37.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.5$58.2$23.3$56.3