Southern Eye-Bank

Analysis

Southern Eye-Bank is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in December 2023, 3 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Southern Eye-Bank reported income of $2.1m and spending of $869k, leaving 59% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income fell from $2.6m to $2.1m (-17%), an average of -6.1% a year. The sharpest change came in the year to December 2021, when income rose by 61%. Over the whole period it spent 79% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Southern Eye-Bank sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within LA. Charities of a similar size with the same main cause include Court Sports for Life Foundation ($2.1m), Freeman Educational Foundation 2113 ($2.1m) and Be the Difference Nil Inc ($2.1m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 18% and program service revenue 17% of the total. Other salaries and wages came to $172k. At year end it held assets of $10.9m against liabilities of $12k, net assets of $10.9m. It reported 17 employees.