Lions Medical Eye Bank And Research Center Of Eastern Virginia Inc
- Assets
- $3.5m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 26
- Location
- Norfolk, VA
- Founding
- 12/1984
- Data as of
- 06/2021
- EIN
- 54-1116569
Organization Overview
Lions Medical Eye Bank And Research Center Of Eastern Virginia Inc is located in Norfolk, VA. The organization was established in 1984. 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. As of 06/2021, Lions Medical Eye Bank And Research Center Of Eastern Virginia Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lions Medical Eye Bank And Research Center Of Eastern Virginia 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, Lions Medical Eye Bank And Research Center Of Eastern Virginia Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $2.1m during the year ending 06/2021. 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
THE LIONS MEDICAL EYE BANK & RESEARCH CENTER OF EASTERN VIRGINIA PROVIDES PEOPLE THE OPPORTUNITY TO DONATE OCULAR TISSUE, HEALTH CARE PROFESSIONALS THE MEANS TO END BLINDNESS AND PATIENTS THE HOPE OF CLEARLY SEEING FORM, COLOR AND MOTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE PEOPLE THE OPPORTUNITY TO DONATE OCULAR TISSUE AND TO PROVIDE SAFE, QUALITY OCULAR TISSUE TO HEALTH CARE PROFESSIONALS FOR THE RESTORATION OF SIGHT THROUGH TRANSPLANTATION AND RESEARCH. TISSUE IS DONATED TO THE ORGANIZATION AND PROCESSED, EVALUATED AND DISTRIBUTED PURSUANT TO GUIDELINES ISSUED BY THE FDA, EBAA AND OTHER REGULATORY BODIES. THESE FUNCTIONS INCLUDE, BUT ARE NOT LIMITED TO, DONOR ELIGIBILITY DETERMINATION, TISSUE EVALUATION, STORAGE AND DISTRIBUTION. IN 2020/21, THE EYE BANK PROVIDED 630 TISSUES FOR TRANSPLANTATION/IMPLANT AND 69 TISSUES FOR RESEARCH AND EDUCATION.
THE ORGANIZATION PROMOTES OCULAR TISSUE DONATION THROUGH PUBLIC AND PROFESSIONAL EDUCATION. THE EYE BANK CONDUCTED HUNDREDS OF PROFESSIONAL IN-SERVICES AND LECTURES TO PUBLIC AND PROFESSIONAL ORGANIZATIONS, TO PROMOTE EYE DONATION. THROUGHOUT THE YEAR THE EYE BANK OFFERS FAMILIES OF CORNEA DONORS AND CORNEA RECIPIENTS THE OPPORTUNITY TO SHARE THEIR LIFE CHANGING EXPERIENCES WITH ONE ANOTHER. THE EYE BANK CONTINUES TO BE A MODEL FOR US AND INTERNATIONAL EYE BANK FACILITIES. RESEARCH, SUCH AS EXAMINING AND PUBLISHING THE IMPACT OF COVID-19 ON THE EYE BANKING PROFESSION IS ONGOING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Korroch CEO | Officer | 50 | $200,794 |
Bruce Bodner MD Medical Dir. | Officer | 2 | $15,000 |
J Sidney Lanier Treasurer | OfficerTrustee | 0 | $0 |
Bob Larmore Chairman | OfficerTrustee | 0 | $0 |
Ed Ianni PHD Vice-Chair | OfficerTrustee | 0 | $0 |
Barbara Senecal Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,977 |
| Investment income | $24,257 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $73,268 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,434,440 |
| Statement of Expenses | |
|---|---|
| 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. | $215,794 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $751,722 |
| Pension plan accruals and contributions | $103,270 |
| Other employee benefits | $80,669 |
| Payroll taxes | $67,110 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,750 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,542 |
| Advertising and promotion | $13,128 |
| Office expenses | $28,005 |
| Information technology | $42,741 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,605 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,258 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,436 |
| Insurance | $14,945 |
| All other expenses | $0 |
| Total functional expenses | $2,144,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,385 |
| Savings and temporary cash investments | $121,591 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,126 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,065 |
| Prepaid expenses and deferred charges | $7,644 |
| Investments—publicly traded securities | $2,149,449 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,497 |
| Total assets | $3,467,664 |
| Accounts payable and accrued expenses | $201,640 |
| 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 | $123,353 |
| Total liabilities | $324,993 |
| 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 |
| Total liabilities and net assets/fund balances | $3,142,671 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lions Medical Eye Bank And Research Center Of Eastern Virginia Inc has recieved totaling $37.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $37 |
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 |
Metrolina Association For The Blind Inc Charlotte, NC | $1,978,768 | $3,646,463 |
Kleb Inc Louisville, KY | $1,708,878 | $3,338,144 |
Conexus Richmond, VA | $2,113,559 | $3,416,760 |
Lions Volunteer Blind Industries Inc Morristown, TN | $6,170,102 | $1,326,528 |
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 |
Kentucky Optometric Association Frankfort, KY | $1,137,225 | $1,149,939 |
Cabell Wayne Association Of The Blind Inc Huntington, WV | $1,907,157 | $860,137 |
Mid-South Lions Sight And Hearing Service Memphis, TN | $169,992 | $860,951 |