Lions Medical Eye Bank and Research Center of Eastern Virginia Inc

Analysis

Lions Medical Eye Bank and Research Center of Eastern Virginia Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in December 1984, 42 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, Lions Medical Eye Bank and Research Center of Eastern Virginia Inc reported income of $2.6m and spending of $2.6m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $2.6m (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2021, when income rose by 39%. Over the whole period it spent 102% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Lions Medical Eye Bank and Research Center of Eastern Virginia Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Cayuga Health System Inc ($2.6m), Inside Out Wellness and Advocacy ($2.6m) and Staying Alive Foundation Inc ($2.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $348k (14% of expenses). Other salaries and wages came to $829k. At year end it held assets of $3.0m against liabilities of $250k, net assets of $2.8m. It reported 32 employees.