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← LIONS MEDICAL EYE BANK AND RESEARCH CENTER OF EASTERN VIRGINIA INC

Form 990 for tax year 2022

Filed by LIONS MEDICAL EYE BANK AND RESEARCH CENTER OF EASTERN VIRGINIA INC.

Totals

Total revenue
$2,590,453
Total expenses
$2,578,379
Contributions and grants received
$17,944
Grants paid
$0
Program service revenue
$2,500,291
Investment income
$72,218
Other revenue
$0
Total assets, end of year
$3,000,884
Total liabilities, end of year
$250,340
Net assets or fund balances, end of year
$2,750,544
Program services expenses (Part IX)
$2,238,569
Management and general expenses
$339,810
Fundraising expenses
$0
Program service expenses (Part III)
$2,238,569

Program services were 86.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $17,944

  • 2a · Program service revenue: TISSUE REIMBURSEMENT F

    total $2,418,591 · related or exempt $2,418,591

  • 2b · Program service revenue: REIMBURSEMENTS

    total $70,115 · related or exempt $70,115

  • 2c · Program service revenue: DONOR CONSENT FEES

    total $11,585 · related or exempt $11,585

  • 3 · Investment income

    total $69,537 · excluded $69,537

  • 7a · Gross sales of assets other than inventory

    securities $95,000

  • 7b · Less cost or other basis and sales expenses

    securities $67,352 · other assets $24,967

  • 7c · Gain or loss

    securities $27,648 · other assets -$24,967

  • 7d · Net gain or loss

    total $2,681 · excluded $2,681

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $348,376 · program services $265,032 · management and general $83,344

  • 7 · Other salaries and wages

    total $829,155 · program services $721,280 · management and general $107,875

  • 8 · Pension plan contributions

    total $107,609 · program services $88,658 · management and general $18,951

  • 9 · Other employee benefits

    total $53,760 · program services $34,270 · management and general $19,490

  • 10 · Payroll taxes

    total $76,429 · program services $50,702 · management and general $25,727

  • 11c · Fees: accounting

    total $9,000 · management and general $9,000

  • 11g · Fees: other

    total $4,216 · program services $3,000 · management and general $1,216

  • 12 · Advertising and promotion

    total $18,062 · program services $18,062

  • 13 · Office expenses

    total $36,482 · program services $19,027 · management and general $17,455

  • 14 · Information technology

    total $28,791 · program services $28,594 · management and general $197

  • 16 · Occupancy

    total $4,578 · program services $4,578

  • 17 · Travel

    total $49,130 · program services $25,900 · management and general $23,230

  • 19 · Conferences, conventions and meetings

    total $1,788 · program services $1,788

  • 20 · Interest

    total $1,380 · management and general $1,380

  • 22 · Depreciation, depletion and amortization

    total $40,604 · program services $12,791 · management and general $27,813

  • 23 · Insurance

    total $9,913 · program services $5,816 · management and general $4,097

  • 24a · Other expenses: TISSUE PROCESSING FEES

    total $628,163 · program services $628,163

  • 24b · Other expenses: LAB & PROCESSING FEES

    total $198,197 · program services $198,197

  • 24c · Other expenses: POSTAGE & DELIVERY

    total $74,165 · program services $74,130 · management and general $35

  • 24d · Other expenses: PLACEMENT REF & VISON

    total $35,592 · program services $35,592

  • 24e · All other expenses

    total $22,989 · program services $22,989

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,267 · end of year $27,136

  • 2 · Savings and temporary cash investments

    beginning of year $176,582 · end of year $154,194

  • 4 · Accounts receivable

    beginning of year $179,942 · end of year $211,056

  • 8 · Inventories for sale or use

    beginning of year $20,917 · end of year $26,135

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,756 · end of year $18,274

  • 10a · Land, buildings and equipment: cost or other basis

    $1,237,635

  • 10b · Land, buildings and equipment: accumulated depreciation

    $644,589

  • 10c · Land, buildings and equipment, net

    beginning of year $643,762 · end of year $593,046

  • 11 · Investments: publicly traded securities

    beginning of year $1,851,716 · end of year $1,953,760

  • 15 · Other assets

    beginning of year $6,137 · end of year $17,283

  • 17 · Accounts payable and accrued expenses

    beginning of year $236,609 · end of year $250,340

  • 25 · Other liabilities

    beginning of year $26,267 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $2,625,306 · end of year $2,725,547

  • 28 · Net assets with donor restrictions

    beginning of year $13,897 · end of year $24,997

Mission and programs · 2022

Mission

THE LIONS MEDICAL EYE BANK & RESEARCH CENTER OF EASTERN VIRGINIA PROVIDES PEOPLE THE OPPORTUNITY TO DONATE OCULAR TISSUE, HEALTH CARE PROFESSIONALS THE MEANS TO END BLINDNESS AND PATIENTS THE HOPE OF CLEARLY SEEING FORM, COLOR AND MOTION.

  • THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE SAFE, QUALITY OCULAR TISSUE TO HEALTH CARE PROFESSIONALS FOR RESTORATION OF SIGHT THROUGH TRANSPLANTATION AND RESEARCH. TISSUE IS DONATED TO THE ORGANIZATION AND PROCESSED, EVALUATED AND DISTRIBUTED PURSUANT TO GUIDELINES ISSUED BY THE FDA, EBAA AND OTHER REGULATORY BODIES. THESE FUNCTIONS INCLUDE, BUT ARE NOT LIMITED TO, DONOR ELIGIBILITY DETERMINATION, TISSUE EVALUATION, STORAGE AND DISTRIBUTION. THE EYE BANK PROVIDED 666 TISSUES FOR TRANSPLANTATION/IMPLANT AND 54 TISSUES FOR RESEARCH AND EDUCATION FOR THE PAST FISCAL YEAR.

    Expenses $2,014,712 · Revenue $2,250,262

  • THE ORGANIZATION PROMOTES OCULAR TISSUE DONATION THROUGH PUBLIC AND PROFESSIONAL EDUCATION. THE EYE BANK CONDUCTED HUNDREDS OF PROFESSIONAL IN-SERVICES AND LECTURES TO PUBLIC AND PROFESSIONAL ORGANIZATIONS, TO PROMOTE EYE DONATION. THROUGHOUT THE YEAR THE EYE BANK CONTINUES TO BE A MODEL FOR US AND INTERNATIONAL EYE BANK FACILITIES. RESEARCH, SUCH AS EXAMINING AND PUBLISHING THE IMPACT OF COVID-19 ON THE EYE BANKING PROFESSION IS ONGOING.

    Expenses $223,857 · Revenue $250,029

As filed on the 2022 return.

Listed in Part VII

  • E WARRINER ATKINSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • SHERRY ATWOOD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • RICHARD D BOONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • JEFFREY GADDIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • RICK HARDEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • MARTIN JOSEPH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • VICKIE KENNEDY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • CHESTER P KRAMER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • J SIDNEY LANIER

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • BOB LARMORE

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL J LEONARD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • JORDAN LEVITIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • H HAUSER WEILER MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • JOHN WATTERS JR MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • STEPHANIE MARIONEAUX MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • ED IANNI PHD

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JASHUA ROCKWELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • BARBARA SENECAL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • EDDIE ACKISS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • KRISTINA RAMSEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • ROBERT MADDEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2

  • DAVID KORROCH

    CEO

    Total calculated
    $349,570
    From this org
    $269,520
    From related orgs
    $0
    Other
    $80,050
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $261,260
    Bonus
    $0
    Other
    $8,260
    Deferred
    $39,189
    Nontaxable benefits
    $40,861
    Filer's total
    $349,570

  • BRUCE BODNER MD

    MEDICAL DIR

    Total calculated
    $15,000
    From this org
    $15,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
20 December 2023
IRS schema version
2022v5.0
Source object
202411139349300541

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