Path Vaccine Solutions

“The form 990 was prepared by an outside accounting firm using information provided by path accounting services staff. Path senior management reviewed the draft form. A copy of the draft was sent to the authorized officer for comment (note: following pvs's dissolution, pvs's board has been disbanded and delegated authorized officer nominated to oversee final dissolution activities including commenting on the 990 form). After the comment period, the principal financial officer signed the form.”

“Pvs had a written conflict of interest policy under which all pvs board members and officers had to complete a conflict of interest disclosure form each year. Pvs did not have employees. Pvs was a supporting organization to path within the meaning of internal revenue code section 509(a)(3), and pvs contracted with path for management services. Path has a written conflict of interest policy under which all path board members, officers, and staff at higher than a designated level must complete a conflict of interest disclosure form each year. All pvs and path disclosure forms are reviewed and kept on file. A conflict management plan is developed for any employee with a significant actual or perceived conflict of interest.”

“Path governing documents, conflict of interest policy, and financial statements are available to the public upon request; most documents are also available online.”

“From initial discovery through clinical trials, pvs worked with commercial partners, such as vaccine manufacturers and biotechnology firms, and nonprofit partners, such as universities and research institutions, to shorten the timeline for vaccine development. For these partners, pvs provided funding and expertise in preclinical development, manufacturing, regulatory, and clinical development, with a focus on low-resource settings. In return, partners agreed to terms that helped ensure the resulting products were affordable and available in public immunization programs in low- and middle-income countries. In july 2020, pvs elected to cease operations voluntarily and distribute its assets (including all remaining grant funds) to path, a washington nonprofit corporation for which pvs was a supporting organization under internal revenue code section 509(a)(3), pursuant to a plan of distribution in accordance with the pvs articles of incorporation and section 24.03.220(2) of the revised code of washington. The pvs articles of dissolution for voluntary dissolution were approved by the state of washington secretary of state effective august 31, 2020.”

“During the year, path vaccine solutions ceased conducting operations. See schedule n.”