Financials & risk management
Financial management
Total income for 2025
AIGHD's total income for 2025 amounted to €4,787,940 (2024: €11,313,041). AIGHD ended the 2025 financial year with a loss of €824,731 (2024: loss of €250,658).
After appropriation, AIGHD's reserves amount to €739,382 (2024: €1,564,113), which will be used to secure AIGHD's continuity and support its statutory goals.
Risk management
AIGDH annually prepares a risk analysis that is discussed by the executive and supervisory boards before adoption of the management board’s report and financial statements. The analysis identified eight risk areas:
AIGHD's revenues are declining, and the outcome of business development investments is uncertain. This puts pressure on achieving the strategic goals.
Mitigation: AIGHD's operations will be transferred to Amsterdam UMC on 1 July 2026, significantly reducing our costs while preserving our strengths. A careful process has been set up to achieve this, in close cooperation with the various parties involved.
Strategic
External
International and national policy climates have changed significantly over the past years and certainly since 2024. Political and societal attention is shifting away from major global health issues, while global health research funding suffers from increased competition due to the significantly reduced availability of program and research funding in the USA and Europe.
Mitigation: There is a large need to connect with alternative funders beyond the traditional research funders that AIGHD currently accesses. Business development will adjust its activities towards significant inclusion of philanthropy, foundations, and the private sector, whilst ensuring that no (potential) conflicts of interest arise. We will also enhance our visibility, e.g. through continuous active participation in the Dutch Global Health Hub and EGHRIN.
AIGHD's pipeline of new grants is running low due to limited focus on business development in the past.
Mitigation: In mid-2024, AIGHD started investing heavily in business development and research proposal quality. This resulted in many new applications for project funding in 2025 and 2026. To date, the extra effort has resulted in new funding, including four new grants (two as coordinator and two as partner) from the European & Developing Countries Clinical Trials Partnership. Other proposals are still awaiting assessment or are still being developed.
Business development
Project execution
As the requirements for project accounting grow increasingly complex, more resources are needed to comply with them. Past accounting approaches do not always match current requirements, potentially creating risk when closing projects and determining subsidies.
Mitigation: AIGHD prides itself on careful project management by experienced project managers familiar with cross-disciplinary, international projects with many different international cooperation partners. In 2024 and 2025, we improved our financial and time accounting to better comply with tightened donor requirements regarding these aspects.
Due to a decrease in the number of projects and, therefore, project revenues, AIGHD has fewer resources to cover costs, potentially affecting our liquidity.
Mitigation: Until our transfer to the Amsterdam UMC, AIGHD actively strives for cost reductions by limiting staff hiring, reducing other costs, and taking other measures. We frequently forecast our liquidity position and liabilities to make timely adjustments. Financial processes have furthermore been improved and tightened.
Finance
Personnel
Required cost reductions due to the decline in revenue impact employees. Employment contracts cannot all be extended. The transfer to Amsterdam UMC holds serious consequences for employees: (possible) job loss, uncertainty about this, and a different future working environment.
Mitigation: Throughout the transition process, employees are kept actively informed through staff meetings as well as involved in decisions through an advisory team, which the executive board consults. Decisions affecting employees are discussed with those concerned as soon as possible. Nevertheless, uncertainty cannot be completely avoided, especially since the final integration can only take place after moving to the Amsterdam UMC.
AIGHD relies on its staff and researchers to achieve its goals and objectives, and consequently, our organisational risk tolerance is low. We are committed to responsible human resources management and have enacted policies to safeguard our employees' health and safety.
Mitigation: AIGHD' s code of conduct and whistleblower process clearly define inappropriate behaviour (including sexual misconduct). AIGHD takes reports of violations of these documents seriously – whether originating from internal or external parties – and strives to handle them with the highest duty of care and take appropriate measures.
Safety & wellbeing
IT & data
Data is a crucial element of AIGHD's work, and as such, security breaches and data loss pose a significant risk.
Mitigation: We contract our IT services to PharmAccess Foundation, and they mitigate risks by assigning responsibilities and implementing procedures such as:
- Appointing the head of IT as a security officer and an (external) Data Protection Officer.
- Continuously monitoring adherence to the ICT and Data Policy.
- Maintaining a solid IT environment to prevent unwanted access (firewalls, ongoing monitoring, strict user management procedure, and double password identification).
- Auditing user actions when data/datasets are accessed and/or altered, and including a privacy impact assessment for new projects in kick-off meetings.
- Daily backups with 28-day retention and procedures to monitor the proper functioning of the backup system. Yearly backups are stored in safe conditions. Synchronization software updates local data to the cloud, allowing recovery of data from lost/broken hardware.