Miracles in Sight

Nonprofit profile at a glance

EIN
560628753
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
Winston Salem, NC, USA
Phone
3367650932
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$14,310,108
Expenses
$15,479,301
Assets
$21,173,627
Liabilities
$1,114,982

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • INGRID SCHUNDER (PRESIDENT &)

Highest reported compensation

  • INGRID SCHUNDER (PRESIDENT &): $228,261 total reported compensation
  • KRISTEN MCCOY (VP SURGICAL): $180,221 total reported compensation
  • MIKE TRAMBER (VP OF OPERAT): $171,844 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the North Carolina eye bank inc d/b/a miracles in sight is to support the restoration, preservation, and enhancement of sight through transplant, research, education and innovation.

What it reported doing in 2024

618,139 quality systems & regulatory affairs - is responsible for the formulation and implementation of policies and procedures related to donor screening, tissue recovery, tissue preservation and suitability of tissue for use. They oversee staff training and competency testing, compliance with industry medical standards and applicable state or federal regulations. --- 2,469,716 business development - pursues and maintains current knowledge regarding ophthalmological surgical trends and emerging techniques and cultivates and strengthens relationships with surgeons and other pertinent professionals by providing ongoing education, customized support, and timely communication. Promotes mis core and speciality services and works in conjunction with clinical services to optimize distribution outlets as identified in the mis strategic plan. --- 167,457 research and development - performs investigative activities to improve mis existing products, processes and services. Support the organization's growth by vetting and managing the development of new products and services used in the ophthalmologic industry. --- 1,164,491 professional development - provides professional and public information, education, and training including funding to other nonprofits to further promote and achieve these activities. This program works closely with hospitals, hospice, and funeral homes to ensure the donor and family wishes for donation are achieved. They participate in and support donate life North Carolina, which is the public education group for the state. --- 2,295 triad cornea community - supports triad cornea community which links nonprofit, ebaa accredited members and fda registered eye banks with surgeons and patients to provide a mechanism for corneal tissue reimbursement; partnering with several insurance carriers who have created supplemental vision insurance plans. These plans include full coverage of the preparation and processing costs of the cornea, one additional post- operative exam and one additional post-operative lens benefit.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 71
  • Accountability: 91
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.7%; rating input score 91
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.37; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 5.2%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 14th percentile among comparable filings

Details

  • Where the money goes: 90.7% of revenue deployed · 86.7% of spending went to programs
  • Governance: 14 of 14 board members independent · 7 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $13.4M in reported program spending
  • Leadership: top reported pay $228K · 14 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 12/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.