Southern College Of Optometry
- Assets
- $92.6m
- Revenue
- $29.7m
- Investments
- $0.0
- Employees
- 393
- Location
- Memphis, TN
- Founding
- 03/1942
- Data as of
- 06/2023
- EIN
- 62-0548917
Organization Overview
Southern College Of Optometry is located in Memphis, TN. The organization was established in 1942. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2023, Southern College Of Optometry employed 393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern College Of Optometry 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 06/2023, Southern College Of Optometry generated $29.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $33.1m during the year ending 06/2023. While expenses have increased by 3.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES A SCHOOL OF OPTOMETRY AND CLINIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL OF OPTOMETRY, CLINIC, EDUCATIONAL PROCESS AND STUDENT TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher W Wroten Od Member | Trustee | 1 | $0 |
Amanda Brewer-Lord Od Chair | OfficerTrustee | 1 | $0 |
David A Cockrell Od Vice Chair | Trustee | 1 | $0 |
Dave Sattler Faao Member | Trustee | 1 | $0 |
Lynn T Shaw Secretary | Trustee | 1 | $0 |
Allan Barker Od Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Imperial Security Service Inc Security Services | 6/29/20 | $263,270 |
Grinder Taber Grinder Repairs | 6/29/20 | $158,445 |
John J Campbell Co Inc Repairs | 6/29/20 | $133,397 |
Tiger Sports Properties Sponsorship | 6/29/20 | $120,816 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $242,745 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,571,380 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,814,125 |
| Total Program Service Revenue | $26,504,400 |
| Investment income | $1,038,059 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $266,324 |
| Net Gain/Loss on Asset Sales | $1,450 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $84,687 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,709,045 |
| 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. | $588,637 |
| Compensation of current officers, directors, key employees. | $316,325 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $16,213,755 |
| Pension plan accruals and contributions | $4,727,046 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $72,450 |
| Fees for services: Accounting | $70,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $508,100 |
| Advertising and promotion | $339,415 |
| Office expenses | $1,182,761 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $207,486 |
| Travel | $430,909 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $166,038 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,415,994 |
| Insurance | $442,981 |
| All other expenses | $1,527,989 |
| Total functional expenses | $33,149,501 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,941,566 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $184,683 |
| Accounts receivable, net | $456,440 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,059,328 |
| Inventories for sale or use | $438,711 |
| Prepaid expenses and deferred charges | $356,412 |
| Net Land, buildings, and equipment | $24,825,783 |
| Investments—publicly traded securities | $50,835,147 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,520,218 |
| Total assets | $92,618,288 |
| Accounts payable and accrued expenses | $3,076,720 |
| Grants payable | $0 |
| Deferred revenue | $1,354,948 |
| 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 | $14,325,725 |
| Total liabilities | $18,757,393 |
| Net assets without donor restrictions | $49,207,171 |
| Net assets with donor restrictions | $24,653,724 |
| 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 | $92,618,288 |