Eye & Ear Foundation Inc
- Assets
- $60.4m
- Revenue
- $25.3m
- Investments
- $44.4m
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 01/1985
- Data as of
- 06/2021
- EIN
- 25-1439732
Organization Overview
Eye & Ear Foundation Inc is located in Pittsburgh, PA. The organization was established in 1985. 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. Eye & Ear 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 06/2021, Eye & Ear Foundation Inc generated $25.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 37.6% each year . All expenses for the organization totaled $4.2m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Eye & Ear Foundation Inc has awarded 11 individual grants totaling $19,071,427. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCING ACADEMIC & RESEARCH EFFORTS OF OTOLARYNGOLOGY & OPHTHALMOLOGY DEPTS. AT UNIV. OF PITT.
Describe the Organization's Program Activity:
GRANTS TO DEPARTMENT OF OTOLARYNGOLOGY AND DEPARTMENT OF OPHTHALMOLOGY OF UNIVERSITY OF PITTSBURGH'S SCHOOL OF MEDICINE AND RELATED PROGRAMS AT THE UNIVERSITY OF PITTSBURGH AND UPMC HEALTH SYSTEM TO CONSISTENTLY IMPROVE THE QUALITY OF SCIENTIFIC ENDEAVORS. IN ADDITION TO GRANT MAKING ACTIVITY, THE ORGANIZATION ENGAGES IN FUNDRAISING ACTIVITIES TO RAISE DOLLARS TO FUND INNOVATIVE RESEARCH IN THE FIELDS OF OPHTHALMOLOGY AND OTOLARYNGOLOGY. WITH THE COVID-19 CLOSURES, THE OPHTHALMOLOGY AND OTOLARYNGOLOGY DEPARTMENTS' RESEARCH LABS WERE SHUT DOWN FOR A PERIOD. WE HAVE REDUCED TRAVEL COSTS AND ENTERTAINMENT EXPENSES BUT INCREASED SPENDING FOR COMMUNICATIONS AND OUTREACH IN OTHER WAYS, SUCH AS INCREASING OUR ZOOM CONTRACT FOR MEETINGS, WEBINARS, AND EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George A Fechter Chairman | OfficerTrustee | 0.5 | $0 |
Lawrence N Gumberg Treasurer | OfficerTrustee | 0.5 | $0 |
Cynthia Sunseri Secretary | OfficerTrustee | 0.5 | $0 |
Charles R Brodbeck ESQ Vice Chairman | OfficerTrustee | 0.5 | $0 |
Lawton Snyder Chief Executive Officer | Officer | 37.5 | $0 |
Ruth Auld Edd Board Member | Trustee | 0.5 | $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 | $22,593,262 |
| Noncash contributions included in lines 1a–1f | $60,710 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,593,262 |
| Total Program Service Revenue | $0 |
| Investment income | $597,592 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,142,847 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,333,701 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,210,215 |
| Grants and other assistance to domestic individuals. | $9,200 |
| 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 | $16,942 |
| Fees for services: Accounting | $25,406 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $180,750 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,592 |
| Office expenses | $7,341 |
| Information technology | $24,693 |
| Royalties | $0 |
| Occupancy | $12,529 |
| Travel | $12,065 |
| 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 | $0 |
| Insurance | $23,175 |
| All other expenses | $0 |
| Total functional expenses | $4,236,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425,986 |
| Savings and temporary cash investments | $996,698 |
| Pledges and grants receivable | $59,544 |
| Accounts receivable, net | $14,439,517 |
| 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 | $44,429,835 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $60,351,580 |
| Accounts payable and accrued expenses | $8,534 |
| Grants payable | $51,280 |
| 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 | $59,814 |
| Net assets without donor restrictions | $21,020,940 |
| Net assets with donor restrictions | $39,270,826 |
| 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 | $60,351,580 |
Grants Awarded
Over the last fiscal year, Eye & Ear Foundation Inc has awarded $3,210,214 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsburgh, PA PURPOSE: GENERAL SUPPORT FOR ACADEMIC RESEARCH | $3,055,125 |
Fort Wayne, IN PURPOSE: GENERAL SUPPORT FOR ACADEMIC RESEARCH | $125,000 |
Pittsburgh, PA PURPOSE: GENERAL SUPPORT FOR ACADEMIC RESEARCH | $30,089 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Eye & Ear Foundation Inc has recieved totaling $9,395.
| Awarding Organization | Amount |
|---|---|
Martha L Mason Trust 1739 Memorial Fund Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $9,395 |
Endowment Analysis
| Beg. Balance | $5,331,220 |
| Earnings | $1,432,904 |
| Net Contributions | $25,100 |
| Other Expense | $392,127 |
| Ending Balance | $6,397,097 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Association For Research In Vision And Ophthalmology Rockville, MD | $17,004,319 | $4,996,514 |
Research To Prevent Blindness Inc New York, NY | $24,496,612 | $4,438,794 |
Eye & Ear Foundation Inc Pittsburgh, PA | $60,351,580 | $25,333,701 |
New York Society For Gastrointestinal Endoscopy Inc New York, NY | $1,314,526 | $937,994 |
Ohio Lions Eye Research Foundation Ashland, OH | $2,196,787 | $297,247 |
National Alliance For Eye And Vision Research Inc Rockville, MD | $1,467,724 | $490,417 |
Cincinnati Eye Institute Foundation Cincinnati, OH | $816,396 | $513,575 |
Visual Studies Workshop Inc Rochester, NY | $1,492,437 | $348,917 |
The International Society For Eye Research South Euclid, OH | $764,089 | $221,473 |
Eye Tumor Research Foundation Inc Philadelphia, PA | $981,796 | $203,641 |
Multiple District 22 Lions Vision Research Foundation Inc Baltimore, MD | $642,911 | $132,627 |
Ophthalmicedge Inc New York, NY | $227,604 | $145,347 |