New England College of Optometry

Analysis

New England College of Optometry is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in January 1948, 78 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New England College of Optometry reported income of $29.9m and spending of $25.3m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $25.8m to $29.9m (+16%), an average of +3.7% a year. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New England College of Optometry sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include The Woodlands Christian Academy ($29.8m), Los Barrios Unidos Community Clinic Inc ($29.9m) and Islamic Food and Nutriton Council of America ($29.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.4% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $2.2m (8.5% of expenses). Other salaries and wages came to $8.8m. At year end it held assets of $79.7m against liabilities of $14.3m, net assets of $65.5m. It reported 335 employees.