Foundation For Education & Research In Vision Inc
- Assets
- $10.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 11/1957
- Data as of
- 08/2021
- EIN
- 76-0216422
Organization Overview
Foundation For Education & Research In Vision Inc is located in Houston, TX. The organization was established in 1957. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Education & Research In Vision 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 08/2021, Foundation For Education & Research In Vision Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $988.3k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (6.1%) per year over the past 6 years. 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
EDUCATION AND RESEARCH IN VISION
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES OF SPONSORING THE UNIVERSITY OF HOUSTON COLLEGE OF OPTOMETRY CONTINUING EDUCATION PROGRAM FOR PROFESSIONAL OPTOMETRISTS TO MEET STATE CONTINUING EDUCATION REQUIREMENTS
CONTRIBUTIONS TO UNIVERSITY OF HOUSTON COLLEGE OF OPTOMETRY AND OTHER VISIONARY AND HEALTH RELATED ORGANIZATIONS
SCHOLARSHIPS TO STUDENTS IN UNIVERSITY OF HOUSTON COLLEGE OF OPTOMETRY
SUPPORT FOR REGIONAL AND NATIONAL VISION RELATED PROGRAMS AND ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Annunziato Od President | OfficerTrustee | 4 | $0 |
Jerry Strickland Od Vice-President | OfficerTrustee | 4 | $0 |
William D Altig Od Secretary | OfficerTrustee | 4 | $0 |
Martin Prati Od Treasurer | OfficerTrustee | 4 | $0 |
Steve Nguyen Od Past President | OfficerTrustee | 4 | $0 |
Deborah Bernay Od Director | Trustee | 2 | $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 | $340,340 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $340,340 |
| Total Program Service Revenue | $794,987 |
| Investment income | $144,566 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $24,869 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $11,040 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,315,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $115,668 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $988,283 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $622,346 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,950 |
| 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 | $0 |
| Investments—publicly traded securities | $9,385,395 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,023,691 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $54,927 |
| 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 | $54,927 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $9,968,764 |
| 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 | $10,023,691 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundation For Education & Research In Vision Inc has recieved totaling $50,901.
| Awarding Organization | Amount |
|---|---|
United Way Of Tarrant County Fort Worth, TX PURPOSE: DONOR DIRECTED FUNDS TRANSFERRED TO DESIGNATED CHARITY. | $50,901 |
Endowment Analysis
| Beg. Balance | $5,501,143 |
| Earnings | $226,154 |
| Admin Expense | $12,200 |
| Net Contributions | $311,108 |
| Grants | $93,814 |
| Ending Balance | $5,932,391 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shannon Medical Management San Angelo, TX | $1,382,032 | $79,162,048 |
Tarrant Safety Net Support Corporation Arlington, TX | $4,348,601 | $75,814,900 |
C2c Innovative Solutions Inc Austin, TX | $42,788,543 | $38,806,145 |
Arkansas Childrens Inc Little Rock, AR | $6,770,190 | $23,662,010 |
Physician Associates Of Southwest Dallas Dallas, TX | $2,716,484 | $11,709,219 |
Methodist Patient Centered Aco Dallas, TX | $1,181,995 | $6,532,302 |
Cook Childrens Health Enterprises Fort Worth, TX | $6,566,964 | $6,620,654 |
Dallas Development Fund Dallas, TX | $6,293,260 | $6,735,720 |
St Lukes Sugar Land Properties Corporation Houston, TX | $99,661,908 | $127,637 |
Oneshare International Irving, TX | $7,405,964 | $7,020,317 |
Community Outreach And Patient Empowerment Inc Gallup, NM | $3,855,730 | $4,650,355 |
Crescentcare Holdings Inc New Orleans, LA | $17,127,658 | $277,342 |