This inaugural annual report documents IVI’s transition to a 501(c)(3) nonprofit and its early impact in advancing patient-centered, transparent, and innovative approaches to healthcare value assessment. It highlights IVI’s leadership in convening diverse stakeholders, notably through the inaugural IVI Methods Summit (2020), and its development of open-source value models via the Open-Source Value Project to address limitations of traditional cost-effectiveness analysis. The report also underscores expanded patient engagement, including the launch of a Patient Advisory Council, growing membership across sectors, and thought leadership through publications and media. Financially, it reflects organizational growth in 2019, with most resources directed toward research and stakeholder growth in 2019, with most resources directed toward research and stakeholder engagement to support IVI’s mission of making value assessment more meaningful for patients, providers, and payers.