Foundation For Vision Research
- Assets
- $1.0m
- Revenue
- $734.4k
- Investments
- $0.0
- Employees
- 8
- Location
- Grand Rapids, MI
- Founding
- 01/2018
- Data as of
- 10/2022
- EIN
- 81-5141432
Organization Overview
Foundation For Vision Research is located in Grand Rapids, MI. The organization was established in 2018. 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. As of 10/2022, Foundation For Vision Research employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For Vision Research 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 10/2022, Foundation For Vision Research generated $734.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $422.9k during the year ending 10/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FUND RESEARCH DEVOTED TO THE VISION SCIENCES INCLUDING INVESTIGATION FOR BETTER UNDERSTANDING OF THE CAUSES OF VISION LOSS. TO CONDUCT RESEARCH TO FURTHER UNDERSTAND VISION LOSS AND DEVELOP TREATMENTS TO ADDRESS THOSE CONDITIONS. TO RECEIVE AND ADMINISTER FUNDS AND ASSETS FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES AS SET FORTH IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY CORRESPONDING PROVISION OF ANY SUBSEQUENT FEDERAL TAX LAWS, INCLUDING THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER CODE SECTION 501(C)(3). TO CONDUCT EDUCATIONAL EVENTS DIRECTED TO HEALTH CARE PROFESSIONALS AND THE PUBLIC TO BRING ATTENTION TO VISION THREATENING EYE DISEASES AND PROVIDE INFORMATION AS TO POTENTIAL PREVENTATIVE MEASURES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN FURTHERENCE OF ITS EXEMPT PURPOSE THE FOUNDATION CONTINUES VISION RESEARCH TO BETTER UNDERSTAND THE CAUSES OF VISION LOSS AND TO DEVELOP TREATMENTS TO ADDRESS THOSE CONDITIONS.
IN FURTHERENCE OF ITS EXEMPT PURPOSE THE FOUNDATION CONTINUES VISION RESEARCH TO BETTER UNDERSTAND THE CAUSES OF VISION LOSS AND TO DEVELOP TREATMENTS TO ADDRESS THOSE CONDITIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara N Hart Director | Trustee | 40 | $54,569 |
Dr Nathan Pezda Treasurer | Officer | 3 | $0 |
Dr Liliya Sutherland Secretary | Officer | 2 | $0 |
Dr Thomas Aaberg Jr President | Officer | 20 | $0 |
Dr Scott Westhouse Director | Trustee | 3 | $0 |
Tim Alles Director | Trustee | 0.25 | $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 | $11,556 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,556 |
| Total Program Service Revenue | $721,531 |
| Investment income | $1,316 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $734,403 |
| 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. | $54,569 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $204,148 |
| Pension plan accruals and contributions | $21,945 |
| Other employee benefits | $19,598 |
| Payroll taxes | $19,941 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,500 |
| Fees for services: Accounting | $6,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,431 |
| Advertising and promotion | $8,242 |
| Office expenses | $3,448 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,774 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,707 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,408 |
| Insurance | $2,031 |
| All other expenses | $0 |
| Total functional expenses | $422,864 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $826,937 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $133,012 |
| 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 | $40,658 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,431 |
| Total assets | $1,019,038 |
| Accounts payable and accrued expenses | $2,466 |
| 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 | $2,466 |
| Net assets without donor restrictions | $1,016,572 |
| Net assets with donor restrictions | $0 |
| 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 | $1,019,038 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ohio Lions Eye Research Foundation Ashland, OH | $2,196,787 | $297,247 |
Cincinnati Eye Institute Foundation Cincinnati, OH | $816,396 | $513,575 |
Foundation For Vision Research Grand Rapids, MI | $1,019,038 | $734,403 |
The International Society For Eye Research South Euclid, OH | $764,089 | $221,473 |
Pediatric Retinal Research Foundation Birmingham, MI | $1,234,752 | $182,463 |
Madison Central Lions Foundation Inc Fitchburg, WI | $117,418 | $0 |
Coa Research Foundation Dublin, OH | $0 | $0 |
Collaborative Network Of Innovative Vitreoretinal Specialists West Bloomfield, MI | $53,498 | $0 |
International Thyroid Eye Disease Society Inc Columbus, OH | $87,108 | $0 |
Eversight Ohio Cleveland, OH | $0 | $0 |