Financial Report 2015
Despite a successful year of fundraising for Window 3 and Bilateral funds, CIP recognized a reduction in 2015 revenues due to a shortfall of funds from Window 1 and Window 2 of the CGIAR Fund as compared to 2014. Total revenue reported in 2015 was $58.5M including $26.3M from Windows 1 and 2 (Window 1 and Window 2 at $13.8M and RTB at $12.5M). This represents a decrease of $13.1M compared to 2014. CIP’s Operating Expenses in 2015 are $60.4M and represent a reduction of $10.1M from 2014. CIP’s complete audited financial statements can be obtained online at www.cipotato.org
Overhead rate: The indirect cost ratio of the Center was 15% for 2015. The ratio has been calculated following the Financial Guidelines No. 5, and expresses the relation between direct and indirect costs.
Liquidity: The long-term financial stability indicator (adequacy of reserves), which measures the number of days of unrestricted net assets, was 92 days.