Financial
performance

Total revenue in 2022 amounted to USD 42.2 million, against a total expenditure of USD 42.9 million, resulting in a deficit of USD 0.7 million. On 31 December 2022, CIP reserves were USD 12.5 million (equal to 84 days of expenditure—within CGIAR norms), compared to USD 13.2 million (85 days) on 31 December 2021. The indirect cost ratio of the Center was 15.7% for 2022. The ratio is calculated in line with the CGIAR Cost Principles and Indirect Cost Guidelines (issued in April 2019) and expresses the relationship between direct and indirect costs.

CIP’s financial indicators reflect the Center’s continued financial health, though no institution is immune to financial or operational risk. To mitigate risk, the Board’s Audit, Finance, and Risk Committee (AFRC) oversee CIP’s risk management policies and plans. In a much broader sense, the Board oversees Center operations in the interest of funders and stakeholders.