Phillips Eye Institute Foundation

Organization Overview

Phillips Eye Institute Foundation is located in Minneapolis, MN. The organization was established in 1987. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. Phillips Eye Institute 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 12/2019, Phillips Eye Institute Foundation generated $575.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (17.1%) each year. All expenses for the organization totaled $872.2k during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.

Since 2014, Phillips Eye Institute Foundation has awarded 35 individual grants totaling $4,142,881. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

SEE SCHEDULE O.WHAT WE DO:1. PROVIDE FREE ACCESS TO SUPERB MEDICAL CARE THROUGH TRANSPORTATION SERVICES FOR OUR PATIENTS.2. CONDUCT FREE ANNUAL VISION SCREENING FOR NEARLY 30,000 PUBLIC SCHOOL CHILDREN AND FUND AND COORDINATE FOLLOW-UP TREATMENT FOR CHILDREN WHO ARE UNINSURED OR UNDERINSURED.3. PURCHASE CUTTING-EDGE TECHNOLOGY, WHICH ALLOWS PHYSICIANS TO BETTER DIAGNOSE AND TREAT OUR PATIENTS.4. FUND ACCESS TO LASER VISION CORRECTION SURGERY FOR TROOPS DEPLOYEDWHO WE DO IT FOR:THE WORK OF PHILLIPS EYE INSTITUTE, THE UPPER MIDWEST'S ONLY EYE HOSPITAL, IS SO VITAL TO OUR REGION. WE INTEGRATE THE LATEST DIAGNOSTIC TREATMENT AND SURGICAL TECHNOLOGIES WITH A STAFF DEDICATED SOLELY TO OPHTHALMIC CARE, THE EXPERTISE OF AFFILIATED OPHTHALMOLOGISTS, REFERRING PHYSICIANS AND OTHER EYE CARE PROFESSIONALS. THIS UNIQUE COLLABORATION ENSURES THAT PATIENTS RECEIVE THE LATEST IN ADVANCED EYE CARE-ALL WITHIN A SINGLE HOSPITAL DEDICATED TO PRESERVING, PROTECTING AND RESTORING VISION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

EARLY YOUTH EYECARE (EYE) COMMUNITY INITIATIVETHE EARLY YOUTH EYECARE (E.Y.E.) COMMUNITY INITIATIVE PROVIDES REGULAR VISION SCREENINGS AND FOLLOW-UP TREATMENT SERVICES TO MINNEAPOLIS AND ST. PAUL PUBLIC SCHOOL CHILDREN. MANY OF THESE CHILDREN ARE NOT INSURED OR UNDERINSURED AND THIS IS THEIR ONLY ACCESS TO VISION CARE. APPROXIMATELY 80% OF CHILDHOOD LEARNING IS VISUALLY BASED AND ACADEMIC SUCCESS IS GREATLY INFLUENCED BY THEIR ABILITY TO SEE.THIS PROGRAM WILL CONTINUE IN THE SUCCESSOR ORGANIZATION ABBOTT NORTHWESTERN HOSPITAL FOUNDATION.


PATIENT TRANSPORTATION SERVICESARRANGING TRANSPORTATION FOR EYE SURGERIES IS OFTEN PROBLEMATIC AND STRESSFUL FOR PATIENTS. OUR TRANSPORTATION SERVICES PROVIDE COMPLIMENTARY RIDES TO AND FROM PHILLIPS EYE INSTITUTE FOR SURGERY AND OTHER SERVICES. IN 2019, 2,585 PATIENTS TOOK ADVANTAGE OF OUR TRANSPORTATION SERVICES, TRAVELING 100,361 MILES.THIS PROGRAM WILL CONTINUE IN THE SUCCESSOR ORGANIZATION ABBOTT NORTHWESTERN HOSPITAL FOUNDATION.


OTHER PROGRAM SERVICES INCLUDE EMPLOYEE PROFESSIONAL DEVELOPMENT, SIGHT FOR SOLDIERS, AND A RETINAL DETACHMENT STUDY.THIS PROGRAM WILL CONTINUE IN THE SUCCESSOR ORGANIZATION ABBOTT NORTHWESTERN HOSPITAL FOUNDATION.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$87,666
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$286,781
Noncash contributions included in lines 1a–1f $158,104
Total Revenue from Contributions, Gifts, Grants & Similar$374,447
Total Program Service Revenue$0
Investment income $123,160
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $77,517
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $575,124

Grants Awarded

Over the last fiscal year, Phillips Eye Institute Foundation has awarded $783,064 in support to 6 organizations.

Grant RecipientAmount

ALLINA HEALTH SYSTEM(DBA PHILLIPS EYE INSTITUTE)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: TRANSPORTATION SERVICES

$250,000

ALLINA HEALTH SYSTEM(DBA PHILLIPS EYE INSTITUTE)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: EARLY YOUTH EYECARE (EYE) COMMUNITY INITIATIVE

$246,603

ALLINA HEALTH SYSTEM(DBA PHILLIPS EYE INSTITUTE)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: PROVIDE EYE GLASS FRAMES, LENSES.

$156,464

ALLINA HEALTH SYSTEM(DBA PHILLIPS EYE INSTITUTE)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: PROVIDE THE TREATMENT COMPONENT OF THE EYE PROGRAM (OFFICE VISITS AND GLASSES).

$106,147

ALLINA HEALTH SYSTEM(DBA PHILLIPS EYE INSTITUTE)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: LOW VISION EQUIPMENT AND RETINA RESEARCH

$13,850

ALLINA HEALTH SYSTEM(DBA PHILLIPS EYE INSTITUTE)

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: PROVIDE SUPPORT FOR SIGHT FOR SOLDIERS PROJECT

$10,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Phillips Eye Institute Foundation has recieved totaling $181,574.

Awarding OrganizationAmount
Allina Health System

Minneapolis, MN

PURPOSE: EYE COMMUNITY INITIATIVE

$161,574
Morgan Stanley Global Impact Funding Trust Inc

Indianapolis, IN

PURPOSE: UNRESTRICTED GENERAL SUPPORT

$20,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$1,135,962
Earnings$101,695
Net Contributions$1,753
Grants-$1,656
Ending Balance$1,237,754

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