Hermann Eye Fund
- Assets
- $31.2m
- Revenue
- $4.8m
- Investments
- $1.9m
- Employees
- 0
- Location
- Houston, TX
- Founding
- 03/1981
- Data as of
- 07/2022
- EIN
- 74-2145014
Organization Overview
Hermann Eye Fund is located in Houston, TX. The organization was established in 1981. According to its NTEE Classification (H41) the organization is classified as: Eye Diseases, Blindness & Vision Impairments Research, under the broad grouping of Medical Research and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hermann Eye Fund 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 07/2022, Hermann Eye Fund generated $4.8m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 17.3% each year . All expenses for the organization totaled $2.4m during the year ending 07/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE EYE CARE FOR THE INDIGENT AND TRAINING AND RESEARCH TO FURTHER THE FIGHT AGAINST EYE DISEASE.
Describe the Organization's Program Activity:
HERMANN EYE FUND PROVIDES FUNDING FOR INDIGENT PATIENT CARE TO PATIENTS WITH EYE PROBLEMS.
HERMANN EYE FUND PROVIDES FUNDS TO THE UNIVERSITY OF TEXAS DEPARTMENT OF OPHTHALMOLOGY TO AID IN RESEARCH, EDUCATION OF STUDENTS AND FACULTY, COMMUNITY SERVICE, AND PATIENT EDUCATION AND CARE.
FUNDING FOR RESEARCH OF EYE-RELATED SUBJECTS. THE RESEARCH IS DONE CONTINUALLY WITH ASSISTANCE FROM THE DEPARTMENT OF OPHTHALMOLOGY A THE UNIVERSITY OF TEXAS MEDICAL CENTER AT HOUSTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Andrassy MD President | OfficerTrustee | 0.5 | $0 |
Kevin Dillon Treasurer | OfficerTrustee | 1 | $0 |
Diana Hawkins Secretary | OfficerTrustee | 1 | $0 |
James Mccarthy MD Board Member | Trustee | 0.5 | $0 |
Deborah Gordon Board Member | Trustee | 0.5 | $0 |
Kevin Giglio MD Board Member | 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 | $1,222,695 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,222,695 |
| Total Program Service Revenue | $0 |
| Investment income | $615,373 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,698,304 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,800,170 |
| 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. | $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 | $40,387 |
| Fees for services: Legal | $233,345 |
| Fees for services: Accounting | $130,708 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $149,141 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $207 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,770,528 |
| 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 | $21,361 |
| Insurance | $10,545 |
| All other expenses | $74,176 |
| Total functional expenses | $2,430,398 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$50,316 |
| Savings and temporary cash investments | $1,253,850 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $500,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $18,189 |
| Investments—publicly traded securities | $27,495,196 |
| Investments—other securities | $1,935,771 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,152,690 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $30,080,520 |
| Net assets with donor restrictions | $1,072,170 |
| 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 | $31,152,690 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Retina Foundation Of The Southwest Dallas, TX | $13,241,837 | $7,846,410 |
Hermann Eye Fund Houston, TX | $31,152,690 | $4,800,170 |
Retina Research Foundation Houston, TX | $3,916,625 | $2,299,919 |
Tarrant Eye Resources Inc Fort Worth, TX | $552,814 | $446,778 |
Benign Essential Blepharospasm Research Foundation Inc Beaumont, TX | $1,832,628 | $370,429 |
Kino-Eye Centere For Visual Innovation Houston, TX | $33,130 | $0 |
Pediatric Vision Research And Diagnostic Center Fort Worth, TX | $267,895 | $94,759 |
Wheeler Vision Research Center Houston, TX | $15,165 | $0 |
Foundation For Retinal Research Metairie, LA | $106,947 | $0 |