The New England College of Optometry

Nonprofit profile at a glance

EIN
041591060
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Boston, MA, USA
Phone
6172662030
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard

Official website

Reported finances

Revenue
$31,939,924
Expenses
$26,376,482
Assets
$96,585,845
Liabilities
$12,778,878

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

Leadership & pay

29 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
  • ERIK M WEISSBERG (VP/DEAN): $331,862 total reported compensation

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

Overview

Mission

See schedule othe mission of new england college of optometry is to change the way people see the world.we do so by:- integrating innovative education with early and diverse clinical experiences to prepare today's optometrists for tomorrow's optometry.- advancing the frontiers of optometric knowledge through evidence-based research and then applying this knowledge to improve patients' lives worldwide.- cultivating compassionate care of the highest level of proficiency, integrity, and professionalism; influencing public policy; expanding access to comprehensive and specialty optometric services; and emphasizing a sensitivity to the health and social welfare of diverse communities.

What it reported doing in 2024

Research - the college advances the frontiers of optometric knowledge and translates that knowledge to improve patients' lives worldwide by reducing vision loss and transforming the delivery of eye care. Neco maintains an international reputation in clinically relevant areas of research including myopia, pediatric, low vision rehabilitation, and vision science. Faculty actively engage in research supported by the nih, other federal agencies, foundations, and industry partners, while mentoring graduate and professional students who participate in these projects. In fy2025 the college received revenue from 21 grants and contracts, 9 of which were sponsored by u.s. Department of health and human services.

Operating model

Revenue model
Earned-program. 84% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 91% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 83
  • Accountability: 94
  • Sustainability: 70
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 55%; rating input score 55
  • Program expense ratio: 71.3%; rating input score 71
  • Fundraising efficiency: $2.62 raised per $1 spent on fundraising; rating input score 9; 9th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 94.9%; rating input score 95; 24th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 88.9%; rating input score 89; 21st 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: 17.4%; rating input score 79; 79th percentile among comparable filings
  • Total-asset coverage ratio: 3.66; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 68; 68th percentile among comparable filings
  • Officer compensation ratio: 13%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 2.9% per year; rating input score 100; 25th percentile among comparable filings
  • Revenue growth: 3.4% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 53rd percentile among comparable filings

Details

  • Where the money goes: 55% of revenue deployed · 71.3% of spending went to programs
  • Governance: 16 of 18 board members independent · 9 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $18.8M in reported program spending
  • Leadership: top reported pay $715K · 29 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $990K reported
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 12 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 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.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 55/100.
  • High — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.