FINANCIAL performance
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FINANCIAL performance
Revenue
Total revenue in 2023 amounted to USD 49.9 million, against a total expenditure of USD 49.2 million, resulting in a surplus of USD 0.7 million.
Reserves
On December 31, 2023, CIP reserves were USD 13.2 million (equal to 86 days of expenditure—within CGIAR norms), compared to USD 12.5 million (84 days) on December 31, 2022.
Overhead Rate
The indirect cost ratio of the Center was 16% for 2023. 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 ongoing efforts to strengthen its financial health. The Board remains confident that, based on sound financial and programmatic management, the institution is well-positioned to fulfill its mission. However, no institution is immune to financial or operational risks. To mitigate these risks, the Board’s Audit and Risk Committee oversees CIP’s risk management policies and plans. More broadly, the Board supervises Center operations in the interest of funders and stakeholders.
Revenue
Total revenue in 2023 amounted to USD 49.9 million, against a total expenditure of USD 49.2 million, resulting in a surplus of USD 0.7 million.
Reserves
On December 31, 2023, CIP reserves were USD 13.2 million (equal to 86 days of expenditure—within CGIAR norms), compared to USD 12.5 million (84 days) on December 31, 2022.
Overhead Rate
The indirect cost ratio of the Center was 16% for 2023. 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 ongoing efforts to strengthen its financial health. The Board remains confident that, based on sound financial and programmatic management, the institution is well-positioned to fulfill its mission. However, no institution is immune to financial or operational risks. To mitigate these risks, the Board’s Audit and Risk Committee oversees CIP’s risk management policies and plans. More broadly, the Board supervises Center operations in the interest of funders and stakeholders.