Childrens Hospital Opthalmology Foundation Inc
- Assets
- $74.5m
- Revenue
- $29.8m
- Investments
- $16.2m
- Employees
- 21
- Location
- Boston, MA
- Founding
- 07/2004
- Data as of
- 09/2021
- EIN
- 04-2864081
Organization Overview
Childrens Hospital Opthalmology Foundation Inc is located in Boston, MA. The organization was established in 2004. According to its NTEE Classification (E30) the organization is classified as: Ambulatory & Primary Health Care, under the broad grouping of Health Care and related organizations. As of 09/2023, Childrens Hospital Opthalmology Foundation Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Hospital Opthalmology Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2021, Childrens Hospital Opthalmology Foundation Inc generated $29.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $25.9m during the year ending 09/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Childrens Hospital Opthalmology Foundation Inc has awarded 14 individual grants totaling $58,237,601. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION PROVIDES OPHTHALMOLOGY SERVICES PRIMARILY TO PATIENTS AT (SEE SCHEDULE O) BOSTON CHILDREN'S HOSPITAL AND AT SATELLITE LOCATIONS. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING AND SUBSIDIZING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE LIMITED IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES OPHTHALMOLOGY SERVICES PRIMARILY TO PATIENTS AT BOSTON CHILDREN'S HOSPITAL AND AT SATELLITE LOCATIONS. THE FOUNDATION MAY CHARGE FOR PATIENT CARE, OTHER MEDICAL SERVICES, AND RELATED PRODUCTS, PROVIDED THAT ANY NET INCOME IS USED EXCLUSIVELY FOR THE CHARITABLE, SCIENTIFIC, AND EDUCATIONAL PURPOSES FOR WHICH THE FOUNDATION WAS CREATED. THE FOUNDATION ALSO PROVIDES CARE FOR PATIENTS REGARDLESS OF THEIR ABILITY TO PAY, AS WELL AS PROVIDING HOSPITAL AND COMMUNITY BASED SERVICES THAT ARE EITHER UNAVAILABLE OR LIMITED ELSEWHERE IN THE COMMUNITY.
THE FOUNDATION RECEIVES INCOME FROM BOSTON CHILDREN'S HOSPITAL FOR PROVIDING ADMINISTRATION, SUPERVISION, AND TEACHING SERVICES. THE FOUNDATION CARRIES ON AND PROMOTES BASIC AND APPLIED MEDICAL RESEARCH AND EDUCATION IN THE FIELD OF OPHTHALMOLOGY BY TEACHING STUDENTS AND OTHER MEDICAL AND SCIENTIFIC PERSONNEL; BY PROVIDING FELLOWSHIPS, RESEARCH GRANTS, AND STIPENDS; AND BY GIVING LECTURES AND PUBLISHING INFORMATION CONCERNING CONDITIONS AND RESEARCH RESULTS IN THE FIELD OF PEDIATRIC OPHTHALMOLOGY IN ORDER TO EDUCATE THE GENERAL PUBLIC AND THE MEDICAL PROFESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David G Hunter MD PHD President | OfficerTrustee | 55 | $1,083,103 |
Linda R Dagi MD Clerk | OfficerTrustee | 60 | $738,734 |
Deborah K Vanderveen MD Treasurer | OfficerTrustee | 60 | $627,542 |
Gena Heidary MD PHD Trustee | Trustee | 60 | $635,794 |
Carolyn S Wu MD Trustee | Trustee | 60 | $513,040 |
Melanie Kazlas MD Trustee | Trustee | 60 | $532,441 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ma Eye And Ear Associates Healthcare Services | 9/29/22 | $355,220 |
Triad Consulting Group Coaching And Training Services | 9/29/22 | $235,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,329,164 |
| Investment income | $512,638 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,111 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $94,033 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,831,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $7,582,423 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,924,641 |
| Pension plan accruals and contributions | $329,585 |
| Other employee benefits | $1,905,118 |
| Payroll taxes | $268,902 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,447 |
| Fees for services: Accounting | $6,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $251,933 |
| Advertising and promotion | $8,764 |
| Office expenses | $562,988 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,143,509 |
| Travel | $13,314 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $39,894 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,488 |
| Insurance | $154,156 |
| All other expenses | $0 |
| Total functional expenses | $25,930,722 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,430,427 |
| Savings and temporary cash investments | $6,865,732 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,400,128 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $176,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $101,871 |
| Investments—publicly traded securities | $36,260,303 |
| Investments—other securities | $16,243,528 |
| Investments—program-related | $105,270 |
| Intangible assets | $0 |
| Other assets | $4,942,663 |
| Total assets | $74,480,259 |
| Accounts payable and accrued expenses | $4,563,297 |
| Grants payable | $7,460,431 |
| Deferred revenue | $18,037 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,990,280 |
| Total liabilities | $22,032,045 |
| Net assets without donor restrictions | $52,348,214 |
| Net assets with donor restrictions | $100,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $52,448,214 |
Grants Awarded
Over the last fiscal year, Childrens Hospital Opthalmology Foundation Inc has awarded $25,158,795 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BOSTON CHILDREN'S HOSPITAL PURPOSE: Research and general support | $25,153,795 |
MASSACHUSETTS EYE AND EAR ASSOCIATES PURPOSE: General support | $5,000 |