CharityWatch Analysts perform an in-depth analysis of charities' audited financial statements and IRS tax filings, and often review other documents such as state filings, annual reports, and fundraising contracts during their evaluations. Below are select notes that CharityWatch believes may be of interest to donors.

Any time an Analysts' Note refers to a charity's Audited Financial Statements or IRS tax form, CharityWatch encourages interested donors to obtain a copy of the referenced documents so that they may view the information in context. Please contact the charity directly to request a copy of any referenced document. Charity tax forms and audits may also be obtained from a number of online databases. For a list of sources, please visit our LINKS page.

According to the Cancer Research Institute audit of June 30, 2016 (Note A-15, Contributed Services), the Institute received contributed services provided by the Institute's Scientific Advisory Council valued at a total of $491,238 for fiscal year 2016.

[Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found by clicking on "About CharityWatch" from the navigation bar and then clicking on "Criteria & Methodology".]
According to the Cancer Research Institute audit of June 30, 2016 (Note B, Contributions and Grants Receivable):

"...Included in contribution revenue for fiscal-years 2016 and 2015, are $25,000,000 and $12,000,000, respectively, from two donors, representing approximately 56% and 40% of the total operating support and revenue for 2016 and 2015, respectively."
According to the Cancer Research Institute audit of June 30, 2016 (Note A-14, Contributions):

"The Institute has entered into various clinical research support agreements to conduct clinical trials of cancer immunotherapies. The clinical trials are co-funded by various parties who have committed approximately $10,750,000 to date."
According to the Cancer Research Institute audit of June 30, 2016 (Note K, Financial Investment):

"In 2010, the Institute entered into a joint venture with the Ludwig Institute for Cancer Research Ltd. and formed a U.S. company named Cancer Vaccine Acceleration Company, LLC ('CVAC'). The members' initial capital contribution was $200. The purpose of the company is to obtain, hold, and develop intellectual property and other assets related to research and development of a vaccine for cancer in furtherance of the respective charitable missions of the members. The Institute believes that at present, the value of this investment is de minimus."

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