Old Dominion Eye Foundation Inc

Nonprofit profile at a glance

EIN
540699616
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8045607540
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,643,806
Expenses
$2,899,271
Assets
$2,959,034
Liabilities
$506,774

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

Leadership & pay

19 people listed

Executive titles in this filing

  • DR MINESH S PATEL (PRESIDENT)

Highest reported compensation

  • WILLIAM E PROCTOR (EXEC DIRECTO): $162,968 total reported compensation
  • BRIAN MONTGOMERY (TECHNICAL DI): $127,219 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 supply human eye tissue for transplant/research/teaching.

What it reported doing in 2024

Operation of an eye bank and related services. The main purposes are to supply human eye tissue for corneal transplants, research and teaching services.

Operating model

Revenue model
Earned-program. 88% 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 assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 70
  • Accountability: 96
  • Sustainability: 27
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.1%; rating input score 97
  • Program expense ratio: 83.5%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.4%; rating input score 94; 25th percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -9.7%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.17; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 10%; rating input score 30; 30th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 3.1% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 97.1% of revenue deployed · 83.5% of spending went to programs
  • Governance: 17 of 18 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $163K · 19 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 9 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Sustainability: Officer compensation ratio scored 30/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.