Foundation of the Massachusetts Eye and Ear Infirmary Inc

Overview

Mission

See schedule o.

What it reported doing in 2017

THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSE OF THE MASSACHUSETTS EYE AND EAR INFIRMARY ("THE INFIRMARY"), A TAX-EXEMPT MEDICAL AND SURGICAL HOSPITAL, WHICH PROVIDES PATIENT CARE, RESEARCH AND EDUCATION IN OPHTHALMOLOGY, OTOLARYNGOLOGY AND RELATED SPECIALTIES. THE FOUNDATION RAISES FUNDS, INVESTS FUNDS AND MAKES GRANTS TO THE INFIRMARY. Effective APRIL 1, 2018, the Foundation became part of the comprehensive, integrated healthcare system organization and operated by Partners Healthcare System, Inc, ("Partners") that includes hospitals, physicians, charitable, scientific, educational, research and other Partners affiliated organizations. As part of the system the Foundation will assist and support Partners and the Partners affiliated organizations in fulfilling their mission.

Operating model

Revenue model
Donor-supported. 87% of the money available for current operations came from contributions.
Distribution model
Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

Nonprofit profile at a glance

EIN
042785453
IRS 990 coverage
2011–2017
Forms available
Form 990 2017
Headquarters
Boston, MA, USA
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Hospitals

Official website

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The verdict

STRONG - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the required major-donor schedule is missing or incomplete.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 56
  • Accountability: 76
  • Sustainability: 86
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.6%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 71st percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Yes; rating input score 100
  • Public monitoring controls: Limited
  • Public policy transparency: Limited
  • Public financial transparency: Limited
  • Impact reporting controls: Limited
  • Public relationship transparency: Limited

Accountability

  • Independent voting board: 73.7%; rating input score 74; 24th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
  • Public governance controls: Limited
  • Zakat policy transparency: Limited

Sustainability

  • Operating margin: 65.5%; rating input score 98; 98th percentile among comparable filings
  • Operating reserve ratio: 13.66; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.26; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 2.8% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: 11.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 10.6% per year; rating input score 100; 79th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.6% of spending went to programs
  • Governance: 14 of 19 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $23.8M in reported program spending
  • Leadership: top reported pay $1.4M · 25 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 7 annual filings from 2011 to 2017
  • Money network: 6 filed money-flow records
  • Related organizations: 22 filed related-organization links