Eye Bank for Sight Restoration Inc

Analysis

Eye Bank for Sight Restoration Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1945, 81 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Eye Bank for Sight Restoration Inc reported income of $11.7m and spending of $9.8m, spending 84% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $9.6m to $11.7m (+22%), an average of +4.0% a year. The sharpest change came in the year to December 2022, when income rose by 31%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Eye Bank for Sight Restoration Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 94th percentile within NY. Charities of a similar size with the same main cause include Potomac Institute for Policy Studies ($11.7m), Catholic Charities of Southeast Michigan ($11.7m) and National Employment Law Project ($11.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.3% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $359k (3.7% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $81.4m against liabilities of $2.9m, net assets of $78.5m. It reported 66 employees.