Retina Foundation of the Southwest

Nonprofit profile at a glance

EIN
510151514
IRS 990 coverage
2010–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025
Location
Dallas, Texas, US
Phone
214-363-3911
Rating
80
Verdict
STRONG
Rating confidence
Standard
Sector
Eye Diseases, Blindness & Vision Impairments Research

Official website

Reported finances

Revenue
$11,477,798
Expenses
$8,564,087
Assets
$16,637,262
Liabilities
$1,095,099

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

27 people listed

Executive titles in this filing

  • KARL CSAKY (CHIEF EXECUTIVE AND MEDICAL OFFICER)

Highest reported compensation

  • KARL CSAKY (CHIEF EXECUTIVE AND MEDICAL OFFICER): $549,921 total reported compensation
  • MARK PENNESI (LAB DIRECTOR): $458,589 total reported compensation
  • EILEEN BIRCH (PEDIATRIC DIRECTOR): $354,756 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To prevent vision loss and restore sight through innovative research and treatment.

What it reported doing in 2025

Studies to optimize visual outcomes for children with congenital and early-onset eye conditions and ultimately develop more successful and effective methods for early screening, treatments, and adherence. Research into innovative new treatments for inherited retinal degenerative diseases, such as retinitis pigmentosa. Collecting and maintaining clinical and genetic data for individuals with inherited eye diseases. Conduct various types of research to better understand age-related macular degeneration, develop ways to slow the progression, and discover better treatment options.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 95% 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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 88
  • Accountability: 95
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.2%; rating input score 60
  • Program expense ratio: 79.3%; rating input score 79
  • Fundraising efficiency: $15.57 raised per $1 spent on fundraising; rating input score 47; 47th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 25.4%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 1.94; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 73; 73rd percentile among comparable filings
  • Officer compensation ratio: 28.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 8.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Revenue growth: 6.6% per year; rating input score 100; 54th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 13th percentile among comparable filings

Details

  • What they do: 4 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 60.2% of revenue deployed · 79.3% of spending went to programs
  • Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.8M in reported program spending
  • Leadership: top reported pay $550K · 27 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $454K reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 10 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 47/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.