Better Vision Institute Educational Foundation Inc
- Assets
- $395.6k
- Revenue
- $31.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- 05/1990
- Data as of
- 12/2022
- EIN
- 52-1645988
Organization Overview
Better Vision Institute Educational Foundation Inc is located in Alexandria, VA. The organization was established in 1990. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Vision Institute Educational 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 12/2022, Better Vision Institute Educational Foundation Inc generated $31.2k in total revenue. All expenses for the organization totaled $162.4k during the year ending 12/2022. While expenses have increased by 157.1% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Better Vision Institute Educational Foundation Inc has awarded 17 individual grants totaling $130,271. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE BETTER VISION INSTITUTE IS THE 501C3 ORGANIZATION ASSOCIATED WITH THE PARENT 501C6 COMPANY, THE VISION COUNCIL. THE PURPOSE OF THE ORGANIZATION IS TO INCREASE PUBLIC AWARENESS OF THE NEED FOR EYECARE, TO EDUCATE THE PUBLIC OF NEW PRODUCT DEVELOPMENT AND TECHNOLOGY WHICH WILL AID IN PROTECTING, PRESERVING AND ENHANCING VISION, AND TO ENCOURAGE RESEARCH AND PUBLISH INFORMATION RELATING TO VISION CARE AND VISION CARE PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE VISION COUNCIL, THROUGH THE BETTER VISION INSTITUTE, IS PLEASED TO SPONSOR OPENING YOUR EYES: THE VISION COUNCIL SCHOLARSHIP FUND, A 501 (C)(3) ORGANIZATION DESIGNED TO SUPPORT HIGH SCHOOL STUDENTS FROM DIVERSE BACKGROUNDS THROUGHOUT THE UNITED STATES WHO HAVE AN INTEREST IN PURSUING A CAREER IN THE OPTICAL INDUSTRY. THE PROGRAM WILL SUPPORT SELECTED OPTICIANRY STUDENTS THROUGH MONETARY SCHOLARSHIPS. THE INTENT OF THE PROGRAM IS TO LAUNCH A FAR-REACHING EFFORT THAT CAN EXPAND DIVERSITY IN THE OPTICAL INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Roberts Chair | OfficerTrustee | 1 | $0 |
Scott Shapiro Vice Chair | OfficerTrustee | 1 | $0 |
Ross Brownlee Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Ken Bradley Immediate Past Chair | OfficerTrustee | 1 | $0 |
Tiffanie Burkhalter Director | Trustee | 0.5 | $0 |
Kevin Cross Director | 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 | $31,130 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,130 |
| Total Program Service Revenue | $0 |
| Investment income | $27 |
| 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 | $31,157 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $157,469 |
| 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 | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,480 |
| Advertising and promotion | $0 |
| Office expenses | $424 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $162,373 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,658 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,895 |
| 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 | $395,553 |
| 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 | $137,037 |
| Total liabilities | $137,037 |
| Net assets without donor restrictions | $55,947 |
| Net assets with donor restrictions | $202,569 |
| 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 | $395,553 |
Grants Awarded
Over the last fiscal year, Better Vision Institute Educational Foundation Inc has awarded $130,271 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
CAMDEN COUNTY COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $6,000 |
BROWARD COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $6,000 |
ESSEX COUNTY COLLEGE PURPOSE: SCHOLARSHIP | $6,000 |
GA PIEDMONT COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $6,000 |
DAYTONA STATE COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $6,000 |
OGEECHEE TECHNICAL COLLEGE FOUNDATION PURPOSE: SCHOLARSHIP | $6,000 |