Wills Eye Alumni Society
- Assets
- $7.3m
- Revenue
- $941.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 81-0737759
Organization Overview
Wills Eye Alumni Society is located in Philadelphia, PA. The organization was established in 2016. 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. Wills Eye Alumni Society 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, Wills Eye Alumni Society generated $941.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $727.3k during the year ending 12/2023. 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
TO PROMOTE & ADVANCE THE SCIENCE & ART OF OPHTHALMOLOGY, ENHANCE & SUPPORT THE EDUCATION & TRAINING OF RESIDENTS & FELLOWS OF OPHTHALMOLOGY AT THE WILLS EYE INSTITUTE, ENCOURAGE & SUPPORT RESEARCH IN OPHTHALMOLOGY, PROMOTE THE CONTINUED EXISTENCE OF WILLS EYE HOSPITAL & TO SPONSOR AN ANNUAL CONFERENCE PERTAINING TO OPHTHALMOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONFERENCE FEATURING SCIENTIFIC PAPERS, SYMPOSIA, WORKSHOPS, AND AAO RECEPTION.
ANNUAL DINNER/DANCE HELD DURING THE ANNUAL CONFERENCE FOR ALUMNI AND CURRENT RESIDENTS.
DONATIONS IN SUPPORT OF WILLS EYE HOSPITAL SPONSORING GENERAL PROGRAMS AND INITATIVES, NOTABLE A/V EQUIPMENT IN THE 8TH FLOOR CLASSROOM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Behar MD Director | Trustee | 0 | $0 |
Christopher J Rapuano MD Director | Trustee | 0 | $0 |
Janine Tabas MD President | OfficerTrustee | 0 | $0 |
Robert C Sergott MD Director | Trustee | 0 | $0 |
Charles Letocha MD Director | Trustee | 0 | $0 |
Joanna M Fisher MD Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $24,988 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $320,784 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $345,772 |
| Total Program Service Revenue | $329,622 |
| Investment income | $172,550 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $93,069 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $941,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,069 |
| Grants and other assistance to domestic individuals. | $44,544 |
| 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 | $3,385 |
| Fees for services: Accounting | $6,477 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,000 |
| Fees for services: Other | $26,678 |
| Advertising and promotion | $0 |
| Office expenses | $1,125 |
| 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 | $3,976 |
| All other expenses | $23,472 |
| Total functional expenses | $727,304 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,553 |
| Savings and temporary cash investments | $7,498 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,082,675 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,262,726 |
| 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 | $6,561,234 |
| Net assets with donor restrictions | $701,492 |
| 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 | $7,262,726 |
Grants Awarded
Over the last fiscal year, Wills Eye Alumni Society has awarded $80,069 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF PHILA TR WILLS EYE PURPOSE: Support of Glaucoma SW EE / Misc | $30,194 |
WILLS EYE FOUNDATION INC PURPOSE: Support for A/V equip in classroom | $49,875 |