Honest Feedback

Self-congratulatory email from Heidi and David. Amazing but true :(

How long does 'interim" last? For ever? Derek Yach left 19 months ago. Mice very happy in this cheese.

June 5, 2022 Dear Philippe, In 2022, the Foundation for a Smoke-Free World made great progress against its Strategic Plan goals that are designed to help us achieve our mission to end smoking in this generation. We are pleased to share the Foundation’s 2022 Annual Report, which can be accessed on our website. The report summarizes the measurable impact of our grantmaking efforts and charitable activities last year, which included funding 60 grants in 17 countries. Additionally, the Annual Report provides a preview of several 2023 grant projects.   We are proud of the progress the Foundation attained, which was driven by the commitment and excellence of our grantees and staff, and overseen by our Board of Directors, who generously shared their collective wisdom.   Thank you for your interest and engagement.   Warm regards,

Heidi B. Goldstein  Interim Co-President Executive Vice President Chief Legal Officer David Janazzo Interim Co-President Executive Vice President, Operations and Finance Chief Financial Officer

Looking a bit more closely at the evolution of the compensations

If the global budget is a bit reduced, that's not the case for the compensation of all the  6 remaining members of  the board of directors (see on pages 47 to 51) nor for the 2 'interim co-presidents' (+$59K and +$57K) and other top staff. Any independent evaluation of their performances? Just kidding. The word is self-serving. Even if PMI has reduced the budget, there is still plenty for such raises.

The 2022 990 PF Form is now available

The 2022 990PF Form in now available (PDF). You can compare with the form for the previous year, 2021. Philip Morris's contribution dropped from $40 million to $17,5 million. Here is the link to the page about financials. I have not been able to understand the reasoning for the drop in funding. It is linked to the 'cash balance'. The modified pledge agreement 'explains' the procedure on page 5 item 3.5 (copied below). The total annual budget now seems to be $35 million, depending on the situation of the 'cash balance'.

If the global budget is a bit reduced, that's not the case for the compensation of all the 6 remaining members of  the board of directors (see on pages 47 to 51) even if the total budget went down from $ 2,031,120 to $1,362,008.