Suny College of Optometry Foundation

Nonprofit profile at a glance

EIN
131819472
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2129385600
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,665,797
Expenses
$1,700,699
Assets
$15,158,165
Liabilities
$152,479

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

Leadership & pay

17 people listed

Executive titles in this filing

  • RICHARD SODEN OD (PRESIDENT)
  • THOMAS FARRELL (VICE PRESIDENT)
  • RICHARD FEINBLOOM (IMMEDIATE PAST PRESIDENT)
  • DAWN RIGNEY (SECRETARY/EXECUTIVE DIRECTOR)

People named in this filing

  • RICHARD SODEN OD (PRESIDENT)
  • THOMAS FARRELL (VICE PRESIDENT)
  • DENNIS P GEHR (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To provide scholarships to students and support vision care services to underserved men, women and children as well as funding for research.

What it reported doing in 2024

Research & campus support through a donor-directed endowment, the foundation supports vision research primarily conducted at the college including exposure to relevant research scientists and projects, start-up or seed funding for small research projects, and helps ensure shared equipment and other resources needed for a robust research enterprise. The remaining funds provide generalized support to the campus-community ranging from professional development programs to key activities that create the learning and teaching environment needed for a top-tier optometry school.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 61% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 59
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 80.4%; rating input score 80
  • Program expense ratio: 67.1%; rating input score 67
  • Fundraising efficiency: $10.22 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 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: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.1%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 8.91; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -2.2% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: 2% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 3.4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 80.4% of revenue deployed · 67.1% of spending went to programs
  • Governance: 16 of 16 board members independent · 7 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 17 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.