Advancing Sight Network
- Assets
- $17.1m
- Revenue
- $13.6m
- Investments
- $418.3k
- Employees
- 116
- Location
- Birmingham, AL
- Founding
- 02/1985
- Data as of
- 06/2023
- EIN
- 63-0880135
Organization Overview
Advancing Sight Network is located in Birmingham, AL. The organization was established in 1985. According to its NTEE Classification (E65) the organization is classified as: Organ & Tissue Banks, under the broad grouping of Health Care and related organizations. As of 06/2023, Advancing Sight Network employed 116 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advancing Sight Network 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, Advancing Sight Network generated $13.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $14.0m during the year ending 06/2023. While expenses have increased by 13.1% per year over the past 7 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
WE ENHANCE LIVES BY RESTORING EYESIGHT IN OUR LOCAL AND GLOBAL COMMUNITIES THROUGH A NETWORK OF PARTNERSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR MISSION IS THE RESTORATION OF SIGHT THROUGH TIMELY RECOVERY, PRECISION PROCESSING, AND EFFICIENT DISTRIBUTION OF THE HIGHEST QUALITY EYE TISSUES FOR TRANSPLANTATION, RESEARCH, AND TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Phillips Chairman | OfficerTrustee | 4 | $0 |
Kristin Bains Vice Chairman | OfficerTrustee | 4 | $0 |
Tyler Hall Secretary/ Associate Medic | OfficerTrustee | 4 | $0 |
Peter Holby Treasurer | OfficerTrustee | 4 | $0 |
Roswell Pfister Medical Director | OfficerTrustee | 4 | $0 |
William Counce Member | Trustee | 4 | $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 | $95,528 |
| Noncash contributions included in lines 1a–1f | $2,199 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,528 |
| Total Program Service Revenue | $12,927,540 |
| Investment income | $437,153 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,500 |
| Net Gain/Loss on Asset Sales | $69,483 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,551,297 |
| 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. | $917,416 |
| Compensation of current officers, directors, key employees. | $138,684 |
| Compensation to disqualified persons | $5,479,933 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,106,205 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,686 |
| Fees for services: Accounting | $20,553 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $65,044 |
| Fees for services: Other | $380,225 |
| Advertising and promotion | $280,307 |
| Office expenses | $34,091 |
| Information technology | $315,013 |
| Royalties | $0 |
| Occupancy | $294,912 |
| Travel | $144,337 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $134,946 |
| Interest | $3,153 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $598,204 |
| Insurance | $155,298 |
| All other expenses | $222,141 |
| Total functional expenses | $14,025,002 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,883 |
| Savings and temporary cash investments | $560,873 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,741,132 |
| 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 | $3,200,276 |
| Investments—publicly traded securities | $9,673,268 |
| Investments—other securities | $418,308 |
| Investments—program-related | $0 |
| Intangible assets | $1,111,133 |
| Other assets | $309,924 |
| Total assets | $17,064,797 |
| Accounts payable and accrued expenses | $1,474,067 |
| Grants payable | $0 |
| Deferred revenue | $85,875 |
| 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 | $1,187,500 |
| Other liabilities | $306,074 |
| Total liabilities | $3,053,516 |
| Net assets without donor restrictions | $13,615,007 |
| Net assets with donor restrictions | $396,274 |
| 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 | $17,064,797 |
Grants Awarded
Over the last fiscal year, Advancing Sight Network has awarded $162,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
UAB CALLAHAN EYE HOSPITAL PURPOSE: TO ASSIST THE HOSPITAL WITH THE NEW OR WAITING ROOM. | $150,000 |
NIIOS-USA PURPOSE: TO ASSIST IN PROVIDING EDUCAITON ON INNOVATIVE SURGICAL TECHNIQUES TO CORNEAL SURGEONS. | $0 |
SMART SAVERS AMERICA PURPOSE: TO ASSIST IN SUPPORTING CHILDREN'S VISION SCREENING. | $12,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lions World Vision Institute Inc Tampa, FL | $36,401,259 | $30,316,116 |
Mississippi Organ Recovery Agency Flowood, MS | $25,612,186 | $25,772,862 |
Mid-South Transplant Foundation Inc Cordova, TN | $12,715,400 | $16,561,324 |
Regenerative Biologics Inc Gainesville, FL | $25,624,533 | $20,410,687 |
Advancing Sight Network Birmingham, AL | $17,064,797 | $13,551,297 |
Florida Tissue Services Inc Pensacola, FL | $131,767 | $2,958,783 |
Florida Lions Eye Bank Inc Miami, FL | $19,559,496 | $4,260,143 |
National Foundation For Transplants Inc Memphis, TN | $26,291 | $1,013,565 |
East Tennessee Lions Eye Bank Knoxville, TN | $4,076,193 | $1,969,682 |
Restore Life Usa Inc Elizabethton, TN | $1,272,451 | $1,809,279 |
Tennessee County Clerks Organ Donor Awareness Foundation Nashville, TN | $303,216 | $376,568 |
Leading Ladies Inc Miami, FL | $23,068 | $0 |
Georgia Extension 4-H Foundation Griffin, GA | $86,184 | $0 |
Multicultural Miracle Donor Foundation Fort Lauderdale, FL | $6,442 | $0 |
Mississippi Lions Eye Bank Inc Flowood, MS | $0 | $0 |