New England Eye Institute Inc

Nonprofit profile at a glance

EIN
043575676
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Boston, MA, USA
Phone
6175875598
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Blind/Visually Impaired Centers

Official website

Reported finances

Revenue
$8,345,363
Expenses
$8,352,677
Assets
$1,853,840
Liabilities
$1,000,734

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

Leadership & pay

28 people listed

Executive titles in this filing

  • HOWARD PURCELL (PRESIDENT)

Highest reported compensation

  • HOWARD PURCELL (PRESIDENT): $714,722 total reported compensation
  • TRACI LOGAN (TREASURER/EVP/COO): $560,451 total reported compensation
  • TIMOTHY BOSSIE (SR DIR OWNED CLINICS AND OUTREACH): $251,010 total reported compensation

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

Overview

Mission

To improve the visual health of populations through excellence in collaborative and community-oriented patient care, education and research.

What it reported doing in 2024

School screenings and outreach services: our schools and outreach programs provide a wide range of services to individuals experiencing homelessness, adults and children with intellectual disabilities, and individuals who are legally blind or visually impaired. Services include vision screenings, comprehensive eye exams, and low vision rehabilitation. Care is provided in partnership with public schools, homeless shelters, local governments, and community based organizations. Neei's schools and outreach programs serve approximately 5,000 patients annually across Massachusetts.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 74
  • Accountability: 94
  • Sustainability: 21
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86%; rating input score 86
  • Program expense ratio: 81.3%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 20th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -0.1%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.22; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 18.6%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 0.5% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 14th percentile among comparable filings
  • Asset growth: -2.4% per year; rating input score 0; 7th percentile among comparable filings

Details

  • Where the money goes: 86% of revenue deployed · 81.3% of spending went to programs
  • Governance: 16 of 18 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $6.8M in reported program spending
  • Leadership: top reported pay $715K · 28 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 14/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.