Ophthalmology Research Foundation Inc
- Assets
- $75.8m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Miami, FL
- Founding
- 12/1970
- Data as of
- 07/2023
- EIN
- 23-7081974
Organization Overview
Ophthalmology Research Foundation Inc is located in Miami, FL. The organization was established in 1970. According to its NTEE Classification (H41) the organization is classified as: Eye Diseases, Blindness & Vision Impairments Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ophthalmology Research 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 07/2023, Ophthalmology Research Foundation Inc generated $3.0m 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 (5.0%) each year. All expenses for the organization totaled $4.5m during the year ending 07/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORF IS TO RECEIVE AND MAINTAIN FUNDS THAT ARE USED EXCLUSIVELY TO SUPPORT THE CHARITABLE, SCIENTIFIC, OR EDUCATIONAL PURPOSES OF THE BASCOM PALMER EYE INSTITUTE IS THE DEPARTMENT OF OPHTHALMOLOGY OF THE UNIVERSITY OF MIAMI MILLER SCHOOL OF MEDICINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PURCHASES PROPERTY, LOANS MONEY, OR CONSTRUCTS BASCOM PALMER'S PRIMARY PRACTICE LOCATIONS. MOST RECENTLY, PROPERTY WAS PURCHASED FOR THE CONSTRUCTION OF THE BASCOM PALMER EYE INSTITUTE IN NAPLES, FL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eduardo Alfonso MD President | OfficerTrustee | 2 | $0 |
Carol Karp MD Member-At-La | OfficerTrustee | 0.5 | $0 |
Steven J Gedde Member-At-La | OfficerTrustee | 0.5 | $0 |
Richard Parrish II MD Secretary | OfficerTrustee | 0.5 | $0 |
David Tse MD Member-At-La | OfficerTrustee | 0.5 | $0 |
John G Clarkson MD Executive Di | OfficerTrustee | 2 | $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 | $497,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $497,701 |
| Total Program Service Revenue | $1,992,742 |
| Investment income | $1,069,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$546,029 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,013,509 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,892,713 |
| 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 | $29,750 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61 |
| Fees for services: Accounting | $26,051 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $99,847 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $915 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,941 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $439,405 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $910,708 |
| Insurance | $4,455 |
| All other expenses | $0 |
| Total functional expenses | $4,480,481 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,062,602 |
| Pledges and grants receivable | $467,724 |
| 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 | $33,477,498 |
| Investments—publicly traded securities | $39,819,450 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $75,827,274 |
| Accounts payable and accrued expenses | $0 |
| 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 | $7,567,623 |
| Total liabilities | $7,567,623 |
| Net assets without donor restrictions | $68,259,651 |
| 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 | $75,827,274 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ophthalmology Research Foundation Inc Miami, FL | $75,827,274 | $3,013,509 |
Odylia Therapeutics Inc Atlanta, GA | $10,021,651 | $1,098,401 |
Helen Keller Foundation For Research & Education Inc Birmingham, AL | $40,015 | $416,371 |
Eye Research Foundation Jacksonville, FL | $771,319 | $62,219 |
Ocular Surface Research & Education Foundation Inc Tampa, FL | $28,522 | $0 |
Vitreoretinal And Macula Research Foundation Inc Tampa, FL | $894,630 | -$20,639 |
Advanced Retinal Therapeutics Institute Pensacola, FL | $6,258 | $0 |
Gulani Vison Global Foundation Inc Jacksonville, FL | $97,240 | $58,151 |
Retina Care Research Institute Of Florida Inc Palm Beach Gardens, FL | $100,017 | $0 |
Hallandale Beach Eye Foundation Corp Hollywood, FL | $0 | $0 |