Discovery Eye Foundation
- Assets
- $2.5m
- Revenue
- $804.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Los Angeles, CA
- Founding
- 08/1988
- Data as of
- 12/2021
- EIN
- 95-4228653
Organization Overview
Discovery Eye Foundation is located in Los Angeles, CA. The organization was established in 1988. 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 12/2021, Discovery Eye Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Discovery Eye Foundation 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 12/2021, Discovery Eye Foundation generated $804.9k 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 (3.6%) each year. All expenses for the organization totaled $665.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (20.2%) per year over the past 7 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
DEDICATED TO FINDING TREATMENTS AND CURES FOR SIGHT-THREATENING EYE DISEASE
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISCOVERY EYE FOUNDATION'S MAIN PURPOSE IS TO ADVANCE RESEARCH IN CORNEAL AND RETINAL DISEASE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack L Schoellerman Chairman | OfficerTrustee | 2 | $0 |
Anthony B Nesburn MD Facs President | OfficerTrustee | 3 | $0 |
M Cristina Kenney MD PHD Secretary | OfficerTrustee | 3 | $0 |
Jon Pynoos PHD Vice-President | OfficerTrustee | 1 | $0 |
Joan Seidel Treasurer | OfficerTrustee | 1 | $0 |
Ryan Fisher Director | Trustee | 1 | $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 | $710,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $710,929 |
| Total Program Service Revenue | $0 |
| Investment income | $43,903 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,042 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $804,874 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $430,962 |
| 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 | $70,365 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,913 |
| Payroll taxes | $6,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,909 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $382 |
| Fees for services: Other | $0 |
| Advertising and promotion | $646 |
| Office expenses | $16,279 |
| 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 | $5,190 |
| Insurance | $4,516 |
| All other expenses | $9,766 |
| Total functional expenses | $665,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $598,642 |
| Savings and temporary cash investments | $0 |
| 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 | $13,165 |
| Investments—publicly traded securities | $1,899,184 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,510,991 |
| Accounts payable and accrued expenses | $6,021 |
| 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 | $6,021 |
| Net assets without donor restrictions | $2,203,789 |
| Net assets with donor restrictions | $301,181 |
| 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 | $2,510,991 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Discovery Eye Foundation has recieved totaling $280,218.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $108,250 |
Ruby Family Foundation Los Angeles, CA PURPOSE: CHARITABLE | $50,000 |
Antonini Family Foundation Sun Valley, CA PURPOSE: UNRESTRICTED | $35,000 |
Beverly And Frank Arnstein Beverly Hills, CA PURPOSE: CONTRIBUTION | $30,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $15,096 |
Herbert Family Foundation Corona Del Mar, CA PURPOSE: GENERAL PURPOSE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Smith-Kettlewell Eye Research Institute San Francisco, CA | $25,353,101 | $5,636,867 |
That Man May See Inc San Francisco, CA | $9,979,587 | $4,014,522 |
Glaucoma Research Foundation San Francisco, CA | $13,065,899 | $5,777,174 |
Project Vision Hawaii Honolulu, HI | $2,642,257 | $5,379,656 |
The Lowy Medical Research Institute Inc La Jolla, CA | $891,884 | $3,015,325 |
Arthritis National Research Foundation Irvine, CA | $11,041,493 | $3,794,575 |
The Cornea Society Inc San Francisco, CA | $1,127,744 | $499,461 |
Discovery Eye Foundation Los Angeles, CA | $2,510,991 | $804,874 |
Melles Research Foundation Usa Inc San Diego, CA | $423,384 | $368,677 |
Glaucoma Institute Of Beverly Hills Research Foundation Inc Beverly Hills, CA | $976,802 | $39,399 |
Strabismus Research Foundation Mill Valley, CA | $1,486,470 | $12,392 |
Neurological Health International Santa Barbara, CA | $24,283 | $66,873 |