The Eye-Bank for Sight Restoration Inc DBA The Eye-Bank of New York

What it reported doing in 2024

The Eye-Banks Ocular Tissue Research Program supplies donor eye tissue to medical scientists researching cures and treatment of eye diseases such as cataracts, glaucoma and diseases of the retina. The Eye-Bank also provides adult human Retina Pigment Epithelial (ah-RPE) cells to a growing number of researchers across the country who are conducting studies on the potential for transplanting RPE cells in the future. In 2024, The Ocular Tissue Research Program expanded its ability to fulfill requests for even more specific types of tissue for customized research. The Eye-Bank also hosted a third annual reception at the 2024 meeting of ARVO (Association for Research in Vision and Ophthalmology) which enabled us to meet in-person with researchers currently using our donor tissue and cultivate new opportunities for our Research Program to collaborate. In August, 2024, The Eye-Bank hosted its 7th Wing Chu, MD Cornea Fellow Day which provides a didactic session about eye banking and a wet lab for a DMEK surgical procedure to a group of cornea fellows in attendance. Throughout the year, The Eye-Bank routinely invites groups of ophthalmology residents from area hospital systems, to visit and tour the Ocular Laboratory which gives them an awareness of how quality tissue is provided for surgeries. Also in August, The Eye-Bank was inspected by the Eye Bank Association of America (EBAA) and achieved a three-year Accreditation Certificate, the highest ranking offered by the Association. EBAA Accreditation ensures safe, quality ocular tissue by confirming that its Medical Standards are consistently followed by all eye bank staff.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 80%; rating input score 80
• Fundraising efficiency: $0.76 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 2 of 6 controls in place; rating input score 33
  • Compensation committee: Pass
  • 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: 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: 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: Pass
  • 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: 23.2%; rating input score 84; 84th percentile among comparable filings
• Total-asset coverage ratio: 8.54; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 88; 88th percentile among comparable filings
• Officer compensation ratio: 13.8%; rating input score 10; 10th percentile among comparable filings

Growth

• Program expense growth: 0.3% per year; rating input score 100; 12th percentile among comparable filings
• Revenue growth: 5.8% per year; rating input score 100; 50th percentile among comparable filings
• Asset growth: 3.5% per year; rating input score 100; 26th percentile among comparable filings