Project HOPE

According to the Project HOPE (the Foundation) consolidated audit of December 31, 2024 (Note 5, Inventory), the Foundation "received donated inventory of health-related publications, pharmaceuticals, medical equipment, and supplies" on which it placed an estimated value of approximately $79,160,000. "During the same year, donated supplies, publications, pharmaceuticals, and medical equipment totaling approximately $79,300,000 were used in the Foundation's operations...

...Approximately 57 percent of the Foundation's gifts-in-kind revenue was provided by one company during the year ended December 31, 2024."

In addition, according to the Project HOPE audited Consolidated Statement of Activities and Changes in Net Assets for the year ended December 31, 2024, Project HOPE received in-kind "Donated services" on which it placed a value of approximately $559,000.

[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 on the Our Process page.]

According to the Project HOPE consolidated audit of December 31, 2024 (Note 2, Significant Accounting Policies, Subsequent Events):

"...On January 27, 2025, the Office of Management and Budget (OMB) issued memorandum M-25-13 directing all federal agencies to temporarily pause activities related to the obligation or disbursement of federal financial assistance, effective 5:00 p.m. on January 28, 2025. This directive was later clarified to apply specifically to funding tied to the president's executive orders and did not extend to programs that provide direct benefits to Americans. The OMB rescinded the memo on January 29, 2025. Despite the formal rescission, subsequent reports indicated that efforts to freeze federal funding continued. 

As a result of these developments, Project HOPE has lost two of its seven federal awards - whereby Project HOPE is a prime. The loss of these awards is expected to result in a 10 percent to 15 percent reduction in the overall fiscal year 2025 budgeted revenue, with impacts extending into both fiscal year 2025 and future-year projections.

While the broader financial markets experienced volatility the first several months of 2025, including fair value fluctuations subsequent to year end, the portfolio - owing to its diversification in fixed income and international equity holdings - is not expected to fluctuate significantly. Despite these disruptions, Project HOPE's investment portfolio has remained relatively stable. As of this writing, while the markets have rebounded modestly since April 2025, and the major indices are comparable to their values at December 31, 2024, the potential for future volatility remains. 

There continues to be uncertainty around OMB's future actions regarding federal funding, and it remains reasonably possible that changes in federal regulations could impact Project HOPE's federally funded programs in the near term..."

According to the Project HOPE 2024 tax filing, Project HOPE reports re: Compensation, Supplemental Information (IRS Form 990, Schedule J, Part III):

Regarding severance payments to officers, directors, trustees, key employees and highest compensated employees (Schedule J, Part I, Line 4a):

"During 2024, the VP Finance & CFO, Sergey Nikolin, received a severance payment in the amount of $21,250."

[Sergey Nikolin, VP, Finance & CFO, had total reported compensation of $78,819 during 2024 (IRS Form 990, Part VII, Section A)].

Project HOPE reports providing "bonus & incentive compensation" during 2024 to seven individuals. Rabih Talih Torbay, President & CEO, received $22,491 of bonus and incentive compensation, with total reported compensation of $502,946. The remaining six individuals received $2,000 to $17,058, with total reported compensation ranging from $215,566 to $397,611.