The TBVI consortium receives funding from the European Commission, government agencies, private foundations and industry. Over the past seven years, a total of €46.5 million has been received to support ongoing and anticipated activities until 2017. These activities include R&D activities and the services that TBVI provides to the consortium partners (see Figure 1).

Figure 1: Donations and pledges 2010-2017 (in € x 1000)

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Figure 2 shows the allocation of these funds to R&D activities (broken down into 5 strategic areas) and to TBVI services and administration.

Figure 2: Allocation of funding to strategic areas

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In terms of its funding, 2014 was a year of transition for TBVI. The funding from the European Commission (EC) for the NEWTBVAC project came to an end in 2014 and EC funds for the new TBVAC2020 project were awarded . Funds from the Bill & Melinda Gates Foundation plus new funding from Norad (Norwegian government) and DFID (UK government) provided some bridging funding to consortium partners between the two EC projects.

2015 will be the first year of the new TBVAC2020 project and enables the consortium to effectively continue its R&D activities and TBVI to provide its essential services to consortium partners. In January 2015, TBVI will have a budget of €8,070,000, including a €6,250,000 R&D budget for its consortium partners. TBVI will build on this new programme by broadening and diversifying its funding sources, to seek additional funding for the planned activities until 2017 and beyond.

TBVI’s financial management is underpinned by efficiency and effectiveness, with a drive to deliver results and impact. TBVI’s management and administration costs were kept at below 5% of all expenditures in 2014.

Figure 3: R&D and administrative spending

Figure 8.1

Reporting standards

As a Dutch non-profit foundation, TBVI meets the criteria set for ‘Algemeen Nut Beogende Instellingen’ (ANBI), or Public Benefit Organisations, which are applicable for charity fundraising. TBVI works according to the applicable audit standard RJ 650 (RvJ). Auditing of TBVI accounts is conducted annually by PricewaterhouseCoopers Accountants NV.  For more information, please contact Anne Meinema.

Financial report 2016

STICHTING TUBERCULOSIS VACCINE INITIATIVE (TBVI)  RSIN 819122452  VAT no. NL8191.22.452.B.01