Contact Lens Institute
- Assets
- $782.9k
- Revenue
- $921.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 11/1983
- Data as of
- 12/2021
- EIN
- 52-1309154
Organization Overview
Contact Lens Institute is located in Washington, DC. The organization was established in 1983. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Contact Lens Institute is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Contact Lens Institute generated $921.2k 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 (3.8%) each year. All expenses for the organization totaled $849.7k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SPONSORING MEETINGS AND DISCUSSIONS WITH THE U.S. FDA, THE CONTACT LENS INDUSTRY AND PROFESSIONAL ORGANIZATIONS RELATING TO REGULATIONS AND POLICIES CONCERNING CONTACT LENSES AND LENS CARE PRODUCTS. SPONSORING RESEARCH. DISSEMINATING INFORMATION TO EYE CARE PRACTITIONERS AND THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORING MEETINGS AND DISCUSSIONS WITH THE U.S. FDA, THE CONTACT LENS INDUSTRY AND PROFESSIONAL ORGANIZATIONS RELATING TO REGULATIONS AND POLICIES CONCERNING CONTACT LENSES AND LENS CARE PRODUCTS. SPONSORING RESEARCH. ALSO, DISSEMINATING INFORMATION TO EYE CARE PRACTITIONERS AND THE GENERAL PUBLIC ABOUT BENEFITS AND RISKS OF CONTACT LENSES AND LENS CARE PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Weisbarth Treasurer | OfficerTrustee | 1 | $0 |
Michele Andrews Vice-Chair | OfficerTrustee | 1 | $0 |
Dr William Reindel Chair | OfficerTrustee | 1 | $0 |
Charissa Lee Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stan Rogaski Business Consulting | 12/30/21 | $150,000 |
Kleinfeld Kaplan And Becker Llp Legal Services | 12/30/21 | $215,000 |
Vault Consulting Inc Statistical Services | 12/30/21 | $247,650 |
Mcdougall Communications Public Relations | 12/30/21 | $219,780 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $880,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $880,000 |
| Total Program Service Revenue | $41,000 |
| Investment income | $247 |
| 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 | $921,247 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $215,000 |
| Fees for services: Accounting | $700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $375,448 |
| Advertising and promotion | $0 |
| Office expenses | $538 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,200 |
| Travel | $1,350 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,517 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $849,702 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $37,269 |
| Savings and temporary cash investments | $745,626 |
| 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 | $0 |
| Total assets | $782,895 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $782,895 |
| Total liabilities and net assets/fund balances | $782,895 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Federation Of The Blind Inc Baltimore, MD | $35,001,742 | $21,045,026 |
University Of Maryland Eye Association Pa Baltimore, MD | $2,137,638 | $8,234,651 |
Conexus Richmond, VA | $2,113,559 | $3,416,760 |
Lions Medical Eye Bank And Research Center Of Eastern Virginia Inc Norfolk, VA | $3,467,664 | $2,434,440 |
American Council Of The Blind Inc Alexandria, VA | $5,964,246 | $2,166,772 |
Prevention Of Blindness Society Of Metropolitan Washington Inc Washington, DC | $29,901,307 | $2,060,250 |
Contact Lens Institute Washington, DC | $782,895 | $921,247 |
Needles Eye Ministries Inc Richmond, VA | $1,580,056 | $1,458,314 |
Maryland Optometric Association Inc Stevenson, MD | $855,087 | $600,753 |
Maryland Society For Sight Inc C/O Joanne Waeltermann Glyndon, MD | $0 | $246,504 |
Washington National Eye Center Inc Washington, DC | $922,683 | $949,097 |
Sixteen Hundred Eye Street Corp Washington, DC | $0 | $480,093 |