Financials | Foundation for a Smoke-Free World

Financials

On May 15, 2020, the Foundation for a Smoke-Free World (FSFW) posted its 2019 financial reports on this site. Following a successful and impactful year, the reports reflect our commitment to research and initiatives that expedite the end of toxic tobacco products. Key insights include:

  • $41 million in grant expenditures in 2019. This number represents an increase of over 500% in grant expenditures, as compared to 2018.
  • $160 million in total grant spending was authorized as of December 31, 2019. The related grant payments are anticipated to be made through 2024.
  • Year-over-year decreases in operational expenses, such as: communications, legal, and travel costs. The decreases reflect the Foundation’s transition from its “startup” phase in 2018 to a more mature organization in 2019, its second full year of operation.
  • Resource allocation shifted toward the Foundation’s strategic pillars: Health, Science, and Technology; Agriculture and Livelihoods; and Industry Transformation.

In the past year, we awarded grants to a number of world-renowned researchers who are spearheading innovative smoking cessation and harm reduction projects. Many have also published research reports and contributed to peer-reviewed articles. Reports and articles by FSFW and its partners can be accessed here.

In 2019, we also expanded our efforts to prepare farmers for an era of reduced tobacco demand by supporting a number of agricultural transformation programs. In Malawi, for example, we supported the Second Annual Agricultural Transformation Summit, as well as additional crop diversification initiatives that may serve as models for other tobacco-dependent economies. Finally, our grants facilitated research in several critical areas, including the identification of biomarkers of tobacco use and the development of mobile cessation services for rural communities.

Through these and other initiatives, the Foundation is working hard toward its core mission of ending smoking in this generation.

Within our funding principles, the Pledge Agreement with Philip Morris International (PMI) states that, beginning in 2020, the Foundation will make the following documents publicly available by May 31: audited financial statements, Form 990-PF for the prior year, and an operations update. These documents are now posted on this site.