Georgia Eye Bank Inc
- Assets
- $21.1m
- Revenue
- $9.5m
- Investments
- $250.0k
- Employees
- 45
- Location
- Atlanta, GA
- Founding
- 02/1980
- Data as of
- 12/2023
- EIN
- 58-1371513
Organization Overview
Georgia Eye Bank Inc is located in Atlanta, GA. The organization was established in 1980. 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 12/2023, Georgia Eye Bank Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Georgia Eye Bank 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 12/2023, Georgia Eye Bank Inc generated $9.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $7.1m during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVING VISION AND LIVES THROUGH TRANSPLANTATION OF OCULAR TISSUE AND CELLS, INNOVATION, RESEARCH, EDUCATION, AND COLLABORATION TO ADVANCE TREATMENTS AND PATIENT OUTCOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, THE EYE BANK PROVIDED OVER 1,800 SIGHT-RESTORING CORNEAS FOR TRANSPLANT, MANY OF WHICH WERE PROVIDED FOR A REDUCED PROCESSING REIMBURSEMENT OR GRATIS. REGISTERED WITH THE U.S. FOOD & DRUG ADMINISTRATION AND ACCREDITED BY THE EYE BANK ASSOCIATION OF AMERICA, GEORGIA EYE BANK, INC. OPERATES UNDER STRICT MEDICAL, ETHICAL AND PROFESSIONAL STANDARDS.
GEORGIA EYE BANK, INC. PROVIDES EDUCATION AND TRAINING REGARDING EYE, ORGAN AND TISSUE DONATION TO MEDICAL PROFESSIONALS, CORONERS/MEDICAL EXAMINERS AND FUNERAL HOME PERSONNEL. DONATION AWARENESS AND PUBLIC EDUCATION ARE CRTICIAL COMPONENTS OF THE GEORGIA EYE BANK MISSION. NON-TRANSPLANTABLE TISSUES WERE PROVIDED FOR EDUCATION, RESEARCH AND SURGICAL TRAINING. GEORGIA EYE BANK, INC. BELIEVES STRONGLY THAT EVERYONE IN NEED SHOULD RECEIVE THE GIFT OF SIGHT. WITHOUT COMPROMISING SERVICE, TISSUE AVAILABILITY OR RECIPIENT SAFETY WITHIN ITS SERVICE AREA, GEORGIA EYE BANK, INC. ALSO SUPPORTS INTERNATIONAL EFFORTS TO CURE CORNEAL BLINDNESS. FROM HELPING DEVELOP SUSTAINABLE EYE BANKS IN OTHER COUNTRIES TO PROVIDING LOW COST OR GRATIS TISSUE TO THOSE IN NEED, GEORGIA EYE BANK, INC. IS DRAMATICALLY IMPACTING THE LIVES OF PEOPLE AROUND THE WORLD. TO ACCOMPLISH ITS MISSION, THE EYE BANK DEPENDS ON THE GENEROSITY OF FINANCIAL DONORS AND ACTIVELY PURSUES FOUNDATION AND CORPORATION SUPPORT FOR ITS ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce H Varnum Chair/trustee | OfficerTrustee | 0 | $0 |
Eric E Meinecke Pres/ceo/trustee | OfficerTrustee | 60 | $275,913 |
Bruce L Dick Secretary/trustee | OfficerTrustee | 0 | $0 |
Russell G Thornton Treasurer/trustee | OfficerTrustee | 0 | $0 |
Farish Wheeler Trustee | Trustee | 0 | $0 |
Richard L Shackelford Trustee | Trustee | 0 | $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 | $199,055 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,055 |
| Total Program Service Revenue | $6,805,444 |
| Investment income | $410,250 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,085,636 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,500,385 |
| 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. | $409,584 |
| Compensation of current officers, directors, key employees. | $155,744 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,292,586 |
| Pension plan accruals and contributions | $374,060 |
| Other employee benefits | $291,695 |
| Payroll taxes | $200,870 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,063 |
| Fees for services: Other | $451,274 |
| Advertising and promotion | $0 |
| Office expenses | $55,784 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $434,845 |
| Travel | $36,160 |
| 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 | $115,958 |
| Insurance | $43,496 |
| All other expenses | $539,958 |
| Total functional expenses | $7,052,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,060,331 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $967,792 |
| 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 | $244,389 |
| Net Land, buildings, and equipment | $383,845 |
| Investments—publicly traded securities | $12,555,942 |
| Investments—other securities | $250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,632,384 |
| Total assets | $21,094,683 |
| Accounts payable and accrued expenses | $289,566 |
| 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 | $3,259,381 |
| Total liabilities | $3,548,947 |
| Net assets without donor restrictions | $17,345,736 |
| Net assets with donor restrictions | $200,000 |
| 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 | $21,094,683 |