Precision Ocular Network

Analysis

Precision Ocular Network is a registered charity in United States, based in Birmingham, AL. It received its IRS tax-exemption ruling in February 1985, 41 years ago. 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, Precision Ocular Network reported income of $13.6m and spending of $14.0m, spending 103% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.8m to $13.6m (+53%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Precision Ocular Network 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 98th percentile within AL. Charities of a similar size with the same main cause include Community Action Partnership of Mid-Nebraska ($13.5m), North Carolina Coastal Federation Inc ($13.6m) and Operation Threshold Inc ($13.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.7% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $917k (6.5% of expenses). At year end it held assets of $17.1m against liabilities of $3.1m, net assets of $14.0m. It reported 116 employees.