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International Vaccine Institute

EIN 31-1621592 · Republic of Korea

Public records raise at least one point you should look into before giving.

LegitimacyCautionRegistration and standingFinancial healthFair59 out of 100GovernanceStrong90 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

SEE SCHEDULE O

Income
$69.0 million
Spending
$74.3 million
Spent on programs
80%
Reserves
5.3 months of spending
Largest source of income
donations and private grants, 83%
Employees
260
Volunteers
21
Highest pay
$913,731, director general

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 59 out of 100. Higher than 29% of charities in its peer group (international, $10m to $100m).

  • Reserves

    20 of 35

    Spendable reserves would cover 5.3 months of spending.

  • Debt

    20 of 20

    It owes 7% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 8% of income.

  • Income trend

    0 of 15

    Income fell 29% on the year before.

  • Spending floor

    15 of 15

    80% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 90 out of 100. Higher than 19% of charities in its peer group (international, $10m to $100m).

  • Independent board

    25 of 25

    19 of 20 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (5)
  1. $2.4 million spent. 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
  2. $1.7 million spent. BPCOV2 PROJECT - 2024 SUMMARY OF ACTIVITIES (REFERENCE YEAR 2024) IN 2024, THE BPCOV2 PROJECT ADVANCED PRE-CLINICAL DEVELOPMENT OF A NEXT-GENERATION PAN-CORONAVIRUS MRNA VACCINE PLATFORM SUPPORTED BY CEPI. PROJECT PARTNERS (UPENN, UNC, UC DAVIS, CHULA VRC, AND IVI) FOCUSED ON MRNA CONSTRUCT DESIGN AND PRODUCTION. MULTIPLE MRNA CONSTRUCTS WERE PRODUCED AND TESTED, INCLUDING SPIKE VARIANTS, CHIMERIC CONSTRUCTS, AND VLP PLATFORMS, FORMULATED WITH SM-102 TO ENABLE PLATFORM COMPARISON.
  3. $1.5 million spent. VAT0008 IS A PIVOTAL MULTI-COUNTRY PHASE 3, MULTI-STAGE, MODIFIED DOUBLE-BLIND AND MULTI-ARM STUDY WHERE EFFICACY, SAFETY AND IMMUNOGENICITY OF TWO SARS-COV-2 ADJUVANTED RECOMBINANT PROTEIN VACCINES (MONOVALENT AND BIVALENT) WERE TESTED AS PRIMARY SERIES AND MONOVALENT BOOSTER DOSE AS AN EXTENSION. IVI LED THE EFFORT IN NEPAL TO CONDUCT THE CLINICAL TRIAL INCLUDING CONDUCTING THE LOCAL DSMB MEETING. THE PRIMARY SERIES STUDY WAS INITIATED IN JULY 2021. THE FIRST SUBJECT FOR THE PRIMARY SERIES WAS ENROLLED IN SEPTEMBER 2021. THE CROSSOVER/BOOSTER PHASE STARTED IN JANUARY 2023. THE LAST SUBJECT VACCINATION FOR THE CROSSOVER/BOOSTER PHASE WAS COMPLETED IN NOVEMBER 2023. INVESTIGATORS MEETING WAS CONDUCTED IN FEBRUARY 2023 FOR THE SUCCESSFUL CONDUCTION OF THE PRIMARY SERIES STUDY. THE 11TH DSMB MEETING WAS HELD ON SEPTEMBER 2023, AND NO SAFETY CONCERN WAS RAISED. IVI TEAM CONDUCTED A QUALITY CONTROL VISIT IN Q3 2023. FINAL QUALITY CONTROL VISIT TO SITES WAS DONE IN Q2 2024. STUDY SITE CLOSE-OUT WAS ACTIVITY WAS COMPLETED IN Q3 2024. STUDY DOCUMENT ARCHIVING PROCESS WAS DONE IN Q3 2024. FINAL DATABASE LOCK WAS DONE IN Q3 2024. FINAL DSMB PREPARATION WAS COMPLETED AT THE END OF 2024, AND MEETING WAS CONDUCTED IN JANUARY 2025. NO SAFETY CONCERNS WERE RAISED.
  4. $53.9 million spent. ALL OTHER PROGRAMS
  5. (Expenses $ 53,856,951 including grants of $ 25,821,042)(Revenue $ 0) ALL OTHER PROGRAMS

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Caution.

    The IRS master file records contributions to this 501(c)(3) charitable organization as not deductible.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 1999.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.