Virginia Lions Eye Institute Foundation Inc

Nonprofit profile at a glance

EIN
510245834
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Falls Church, VA, USA
Phone
7034518508
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$186,539
Expenses
$184,062
Assets
$961,871
Liabilities
$0

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

Leadership & pay

19 people listed

Executive titles in this filing

  • Harry Parker (Vice president)

People named in this filing

  • Edward L Woodard (PresidentNE Region Zone C rep)
  • Sally B Kenavan (Director SE Region Zone I repTreas)
  • Shirley Gorospe (SecretaryNE Region Zone C rep)

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

Support indigent eye clinic which provides medical eye services, surgical eye services, and prescriptions for glasses. Fund low vision centers. Provide educational grants to the visually handicapped. Support related existing educational programs. Support eye research.

What it reported doing in 2024

The Dr. Richard A. Falls Virginia Lions Eye Institute Foundation Grant seeks to support research, which will contribute to the wider field of knowledge on eye disease with the goal of improving vision and eye health. Grant funding is for one year. Research application due October 25. Grant may range from $500 to $40,000. Medical students, residents, and fellows may apply. An attending physician must be co-investigator on the application. At the end of the one-year cycle, investigators are asked to submit a summary, detailing the progress of the research study, and in what way the grant funding contributed to the completion of the project. It is the expectation that the proposed research will be conducted according to the ethical standards and IRB obligations of the primary investigators affiliated institution. Two research grants were issued in year-ended June 30, 2024.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 99% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 81
  • Accountability: 82
  • Sustainability: 61
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.5%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 70.4%; rating input score 70; 46th 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: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.3%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 5.23; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Revenue growth: -0.2% per year; rating input score 0; 23rd percentile among comparable filings
  • Asset growth: -2.2% per year; rating input score 0; 17th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.5% of spending went to programs
  • Governance: 20 of 20 board members independent · 4 of 7 filing controls reported
  • Programs: 5 filed program accomplishments · $168K in reported program spending
  • Leadership: top reported pay $0 · 19 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 3 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 43/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.