The Boston Foundation For Sight
- Assets
- $10.7m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 64
- Location
- Needham, MA
- Founding
- 09/1993
- Data as of
- 12/2023
- EIN
- 04-3150037
Organization Overview
The Boston Foundation For Sight, operating under the name Bostonsight, is located in Needham, MA. The organization was established in 1993. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2023, Bostonsight employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bostonsight 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 12/2023, Bostonsight generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $6.0m during the year ending 12/2023. While expenses have increased by 0.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
BOSTON FOUNDATION FOR SIGHT, D/B/A BOSTONSIGHT, IS A WORLD RENOWNED NONPROFIT EYE HEALTH CARE ORGANIZATION. OUR MISSION IS TO IMPROVE QUALITY OF LIFE BY TRANSFORMING THE UNDERSTANDING, TREATMENT, AND CARE OF THE OCULAR SURFACE. WE ACHIEVED THIS THROUGH FIVE KEY STRATEGIES: PUBLIC AND PROFESSIONAL EDUCATION; CLINICAL RESEARCH; PATIENT ENGAGEMENT AND EMPOWERMENT; SPECIALIZED MEDICAL TREATMENT; AND TECHNICAL INNOVATION.
Describe the Organization's Program Activity:
BOSTON FOUNDATION FOR SIGHT, D/B/A BOSTONSIGHT, IS A WORLD RENOWNED NONPROFIT EYE HEALTH CARE ORGANIZATION. OUR MISSION IS TO IMPROVE QUALITY OF LIFE BY TRANSFORMING THE UNDERSTANDING, TREATMENT, AND CARE OF THE OCULAR SURFACE. SINCE 1992 WE HAVE RESTORED SIGHT TO THOUSANDS OF PATIENTS FROM AROUND THE WORLD. PROSTHETIC REPLACEMENT OF THE OCULAR SURFACE ECOSYSTEM (PROSE) IS AN INTEGRATED AND ITERATIVE TREATMENT PIONEERED BY BOSTONSIGHT THAT RESTORES VISUAL FUNCTION, SUPPORTS HEALING, REDUCES SYMPTOMS AND IMPROVES QUALITY OF LIFE FOR PATIENTS SUFFERING WITH OCULAR SURFACE DISEASE. BOSTONSIGHT PROSE USES FDA CLEARED CUSTOM DESIGNED AND FABRICATED PROSTHETIC DEVICES TO REPLACE OR SUPPORT IMPAIRED OCULAR SURFACE SYSTEM FUNCTIONS.
BOSTONSIGHT'S CLINICAL EXPERIENCE IN OCULAR SURFACE DISEASE CREATES THE NECESSARY FOUNDATION FOR DRIVING RESEARCH AND ULTIMATELY INNOVATION IN THE DESIGN AND APPLICATION OF SCLERAL LENSES FOR IMPROVING QUALITY OF LIFE FOR PATIENTS AROUND THE WORLD. THE ORGANIZATION'S PROSPECTIVE CLINICAL RESEARCH PROGRAM IS UNIQUE AS WE DRAW FROM OUR HISTORY OF DIRECT PATIENT CARE, AIMING TO SOLVE NEW CLINICAL CHALLENGES WITH DIRECT IN-HOUSE ACCESS TO ENGINEERING, SOFTWARE DESIGN AND OUR STATE-OF-THE-ART MANUFACTURING FACILITY. IN 2018, BOSTONSIGHT WAS NAMED THE NUMBER ONE CONTRIBUTOR TO SCLERAL LENS PEER-REVIEWED PUBLICATIONS; AND IN 2021, AN ANALYSIS IN CONTACT LENS AND ANTERIOR EYE LISTED BOSTONSIGHT AS THE MOST IMPACTFUL INSTITUTION IN SCLERAL LENS PUBLICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Yost President & CEO | OfficerTrustee | 40 | $318,750 |
Daniel Brocks MD Md, Chief Medical Officer | Officer | 40 | $315,996 |
Karen Carrasquillo Od PHD SVP Of Clinical & Prof Aff | Officer | 40 | $221,909 |
Laurel Villers Clerk, Chief Business Deve | Officer | 40 | $203,931 |
Cheryl Sadeli Cfo/treasurer | Officer | 40 | $177,357 |
Klimenty Levin Software Architect | 40 | $176,997 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rsm Us Llp It Consulting | 12/30/17 | $201,637 |
Lemonade Internet Services Llc It Consulting | 12/30/17 | $140,666 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $124,085 |
| All other contributions, gifts, grants, and similar amounts not included above | $320,545 |
| Noncash contributions included in lines 1a–1f | $5,211 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $444,630 |
| Total Program Service Revenue | $5,311,899 |
| Investment income | $76,173 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $120,148 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,962,410 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,373,442 |
| Compensation of current officers, directors, key employees. | $478,053 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,094,874 |
| Pension plan accruals and contributions | $94,983 |
| Other employee benefits | $223,630 |
| Payroll taxes | $332,063 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $37,172 |
| Fees for services: Accounting | $84,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,245 |
| Office expenses | $260,942 |
| Information technology | $140,113 |
| Royalties | $0 |
| Occupancy | $416,248 |
| Travel | $17,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,650 |
| Interest | $29,068 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $308,389 |
| Insurance | $76,596 |
| All other expenses | $10,937 |
| Total functional expenses | $6,023,169 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,859 |
| Savings and temporary cash investments | $2,543,240 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,240,201 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $423,243 |
| Prepaid expenses and deferred charges | $97,363 |
| Net Land, buildings, and equipment | $2,347,525 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,866,008 |
| Total assets | $10,737,439 |
| Accounts payable and accrued expenses | $816,272 |
| Grants payable | $0 |
| Deferred revenue | $589,672 |
| 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 | $724,685 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,726,639 |
| Total liabilities | $4,857,268 |
| Net assets without donor restrictions | $5,673,282 |
| Net assets with donor restrictions | $206,889 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,737,439 |