New Orleans Academy of Ophthalmology Inc

Analysis

New Orleans Academy of Ophthalmology Inc is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in December 1994, 32 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Orleans Academy of Ophthalmology Inc reported income of $257k and spending of $294k, spending 114% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $344k to $257k (-25%), an average of -7.0% a year. The sharpest change came in the year to June 2020, when income dropped by 24%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Orleans Academy of Ophthalmology Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 58th percentile within LA. Charities of a similar size with the same main cause include Knoxville Museum of Art Foundation ($257k), Wadsworth-Sulgrave Historic Preservation Foundation ($257k) and Kcucares Foundation ($257k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 34% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $52k (18% of expenses). Other salaries and wages came to $30k. At year end it held assets of $822k against liabilities of $14k, net assets of $808k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.