New Eyes For The Needy Inc
- Assets
- $4.8m
- Revenue
- $432.7k
- Investments
- $0.0
- Employees
- 6
- Location
- Short Hills, NJ
- Founding
- 10/1950
- Data as of
- 03/2024
- EIN
- 22-1539720
Organization Overview
New Eyes For The Needy Inc is located in Short Hills, NJ. The organization was established in 1950. According to its NTEE Classification (G41) the organization is classified as: Eye Diseases, Blindness & Vision Impairments, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 03/2024, New Eyes For The Needy Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Eyes For The Needy 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 03/2024, New Eyes For The Needy Inc generated $432.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $1.3m during the year ending 03/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EYEGLASSES TO CHILDREN AND ADULTS FACING FINANCIAL CHALLENGES.
Describe the Organization's Program Activity:
NEW EYES PROVIDES THE TRANSFORMATIVE TOOL OF NEW EYEGLASSES TO CHILDREN AND ADULTS FACING FINANCIAL CHALLENGES IN THE UNITED STATES SO THEY BUILD BETTER LIVES FOR THEMSELVES, THEIR FAMILIES AND THEIR COMMUNITIES. IN FY2023-24, NEW EYES PURCHASED NEW EYEGLASSES FOR 21,837 INDIVIDUALS IN FINANCIAL NEED IN ALL 50 STATES AND THE DISTRICT OF COLUMBIA.
THE ORGANIZATION BEGAN SELLING EYEGLASSES TO THE PUBLIC ONLINE UNDER AZIMUTH EYEWEAR AT MARKET VALUE, DIRECTING NET PROCEEDS TO HELP FUND THE E-VOUCHER PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristine Van Amsterdam President | OfficerTrustee | 2 | $0 |
Marie Cavanaugh Board Member | Trustee | 1 | $0 |
Pat Hayes Vice President | OfficerTrustee | 1 | $0 |
Katrina Van Amsterdam Board Member | Trustee | 1 | $0 |
Kevin Smith Treasurer | OfficerTrustee | 5 | $0 |
Prem Sharma Secretary | OfficerTrustee | 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 | $307,186 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,186 |
| Total Program Service Revenue | $0 |
| Investment income | $118,127 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$39,589 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $32,737 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $432,711 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $522,222 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $154,638 |
| Compensation of current officers, directors, key employees. | $23,753 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $281,460 |
| Pension plan accruals and contributions | $4,234 |
| Other employee benefits | $0 |
| Payroll taxes | $34,128 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,606 |
| Fees for services: Accounting | $41,915 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,874 |
| Fees for services: Other | $140,548 |
| Advertising and promotion | $0 |
| Office expenses | $4,440 |
| Information technology | $26,842 |
| Royalties | $0 |
| Occupancy | $13,876 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,734 |
| Insurance | $6,795 |
| All other expenses | $12,670 |
| Total functional expenses | $1,314,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,286 |
| Savings and temporary cash investments | $134,827 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,665 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $56,421 |
| Prepaid expenses and deferred charges | $4,015 |
| Net Land, buildings, and equipment | $101,693 |
| Investments—publicly traded securities | $4,487,514 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,796,421 |
| Accounts payable and accrued expenses | $100,204 |
| Grants payable | $0 |
| 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 | $100,204 |
| Net assets without donor restrictions | $4,514,628 |
| Net assets with donor restrictions | $181,589 |
| 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 | $4,796,421 |