Medical Eye Bank of West Virginia Inc

Analysis

Medical Eye Bank of West Virginia Inc is a registered charity in United States, based in Charleston, WV. It received its IRS tax-exemption ruling in August 1974, 52 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 June 2023, Medical Eye Bank of West Virginia Inc reported income of $936k and spending of $803k, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $726k to $936k (+29%), an average of +6.6% a year. The sharpest change came in the year to June 2021, when income rose by 25%. Over the whole period it spent 91% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Medical Eye Bank of West Virginia Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 76th percentile within WV. Charities of a similar size with the same main cause include Chester Education Foundation ($936k), New Dance Complex Inc ($936k) and Daystar Adventist Academy ($936k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.1% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $135k (17% of expenses). Other salaries and wages came to $312k. At year end it held assets of $1.5m against liabilities of $57k, net assets of $1.4m. It reported 6 employees.