The Medarva Foundation
- Assets
- $257.1k
- Revenue
- $174.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 03/2006
- Data as of
- 12/2022
- EIN
- 16-1628388
Organization Overview
The Medarva Foundation, operating under the name Medarva Foundation, is located in Richmond, VA. The organization was established in 2006. According to its NTEE Classification (T01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medarva Foundation 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 12/2022, Medarva Foundation generated $174.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $151.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (9.2%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Medarva Foundation has awarded 50 individual grants totaling $2,701,150. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RICHMOND EYE & EAR FOUNDATION OPERATES IN DIRECT SUPPORT OF THE CHARITABLE PURPOSE OF ITS SUPPORTED ORGANIZATION, RICHMOND EYE AND EAR HEALTHCARE ALLIANCE. RICHMOND EYE AND EAR HEALTHCARE ALLIANCE (REEHA) OFFERS LOW VISION REHABILITATION SERVICE TO VISUALLY IMPAIRED, TEACHING PATIENTS TO USE THEIR REMAINING VISION MORE EFFICIENTLY. THE LOW VISION CLINIC SERVES MORE THAN 900 PATIENTS. RICHMOND EYE & EAR CONTINUES TO PROVIDE THIS SERVICE DESPITE TRADITIONALLY HIGH OPERATING COSTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH THE CHARITABLE SUPPORT OF ITS PARENT ORGANIZATION, RICHMOND EYE AND EAR HEALTHCARE ALLIANCE (REEHA), THE RICHMOND EYE AND EAR FOUNDATION (THE FOUNDATION) PROVIDES EDUCATIONAL, CHARITABLE, AND COMMUNITY SUPPORT SERVICES TO THE COMMUNITY, INCLUDING: 1) OPERATING THE LOW VISION CENTER, WHICH PROVIDES LOW VISION REHABILITATION SERVICES TO INDIVIDUALS WITH VISUAL IMPAIRMENT, REGARDLESS OF THEIR ABILITY TO PAY. LOW VISION REHABILITATION IS A COSTLY, TIME-INTENSIVE ENDEAVOR, SERVING OVER 300 UNIQUE PATIENTS EACH YEAR TO REDUCE THE IMPACT OF VISION LOSS AND IMPROVE INDEPENDENCE AND QUALITY OF LIFE. 2) PROVIDING FREE VISION AND HEARING SCREENINGS FOR PRE-KINDERGARTEN CHILDREN TO DETECT POTENTIAL VISUAL AND AUDITORY PROBLEMS AT AN EARLY AGE, WHICH IS CRITICAL FOR ACADEMIC SUCCESS. SCREENINGS ARE PROVIDED REGARDLESS OF INCOME OR INSURANCE, AND PATIENTS ARE REFERRED TO A VISION PHYSICIAN TO RECEIVE FOLLOW-UP CARE. ALONG WITH SCREENINGS, THE FOUNDATION PROVIDES EDUCATIONAL INFORMATION REGARDING THE IMPORTANCE OF VISUAL AND AUDITORY HEALTH. 3) THE FOUNDATION ALSO SUPPORTS THE SCHOLARS AND VIRTUAL SCIENCE FAIR PROGRAMS TO SUPPORT LOCAL HIGH SCHOOL AND MIDDLE SCHOOL STUDENTS WHO ARE EXPLORING THEIR PASSION IN MEDICAL RESEARCH AND THE HEALTHCARE PROFESSION. 4) THE FOUNDATION ALSO PROVIDES GRANT FUNDS TO COLLEGES AND UNIVERSITIES TO SUPPORT RESEARCH STUDIES IN THE AREAS OF HEARING AND VISION DISEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mrs Cherry Peters Director | Trustee | 1 | $0 |
Mr Peter Pastore Director | Trustee | 1 | $0 |
Mrs Cheryl Jarvis Director | Trustee | 1 | $0 |
Ms Joanne Wiley Director | Trustee | 1 | $0 |
Chris Petras MD Director | Trustee | 1 | $0 |
Michael Armstrong Jr MD Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $174,052 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $174,052 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $174,052 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $79,926 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,307 |
| Office expenses | $68,805 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $146 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $151,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,717 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184,370 |
| Total assets | $257,087 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $197,352 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $197,352 |
| Net assets without donor restrictions | $59,735 |
| Net assets with donor restrictions | $0 |
| 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 | $257,087 |
Grants Awarded
Over the last fiscal year, The Medarva Foundation has awarded $63,676 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
JOHN TYLER COMMUNITY COLLEGE FOUNDATION PURPOSE: ANATOMY TABLE | $38,300 |
CROSS-OVER MINISTRIES PURPOSE: FREE CLINIC PROJECT | $25,376 |