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Nonprofiteer
← NEW EYES FOR THE NEEDY INC

Form 990 for tax year 2023

Filed by NEW EYES FOR THE NEEDY INC.

Totals

Total revenue
$432,711
Total expenses
$1,314,285
Contributions and grants received
$307,186
Grants paid
$522,222
Program service revenue
$0
Investment income
$78,538
Other revenue
$46,987
Total assets, end of year
$4,796,421
Total liabilities, end of year
$100,204
Net assets or fund balances, end of year
$4,696,217
Program services expenses (Part IX)
$1,081,005
Management and general expenses
$144,323
Fundraising expenses
$88,957
Program service expenses (Part III)
$1,081,005

Program services were 82.3% 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

    $307,186

  • 3 · Investment income

    total $118,127 · excluded $118,127

  • 7a · Gross sales of assets other than inventory

    securities $869,045

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

    securities $908,634

  • 7c · Gain or loss

    securities -$39,589

  • 7d · Net gain or loss

    total -$39,589 · excluded -$39,589

  • 10a · Gross sales of inventory

    $57,694

  • 10b · Cost of goods sold

    $24,957

  • 10c · Net income from sales of inventory

    total $32,737 · related or exempt $43,667 · unrelated business -$10,930

  • 11a · Other revenue: OTHER MISCELLANEOUS

    total $14,250 · excluded $14,250

  • 11e · Other revenue, total

    $14,250

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $522,222 · program services $522,222

  • 5 · Compensation of officers, directors and key employees

    total $154,638 · program services $113,408 · management and general $23,753 · fundraising $17,477

  • 7 · Other salaries and wages

    total $281,460 · program services $206,415 · management and general $43,234 · fundraising $31,811

  • 8 · Pension plan contributions

    total $4,234 · program services $3,106 · management and general $650 · fundraising $478

  • 10 · Payroll taxes

    total $34,128 · program services $25,030 · management and general $5,241 · fundraising $3,857

  • 11b · Fees: legal

    total $2,606 · management and general $2,606

  • 11c · Fees: accounting

    total $41,915 · management and general $41,915

  • 11f · Fees: investment management

    total $12,874 · management and general $12,874

  • 11g · Fees: other

    total $140,548 · program services $130,875 · fundraising $9,673

  • 13 · Office expenses

    total $4,440 · program services $3,111 · management and general $647 · fundraising $682

  • 14 · Information technology

    total $26,842 · program services $21,837 · management and general $3,578 · fundraising $1,427

  • 16 · Occupancy

    total $13,876 · program services $10,286 · management and general $1,944 · fundraising $1,646

  • 22 · Depreciation, depletion and amortization

    total $31,734 · program services $23,800 · management and general $4,126 · fundraising $3,808

  • 23 · Insurance

    total $6,795 · program services $3,135 · management and general $512 · fundraising $3,148

  • 24a · Other expenses: COMMUNICATIONS: PUBLIC

    total $13,021 · program services $2,609 · management and general $2 · fundraising $10,410

  • 24b · Other expenses: VOUCHER PROGRAM EXPENSE

    total $10,082 · program services $9,847 · management and general $235 · fundraising $0

  • 24c · Other expenses: BUILDING REPAIRS AND MA

    total $200 · fundraising $200

  • 24e · All other expenses

    total $12,670 · program services $5,324 · management and general $3,006 · fundraising $4,340

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,188 · end of year $8,286

  • 2 · Savings and temporary cash investments

    beginning of year $205,925 · end of year $134,827

  • 4 · Accounts receivable

    beginning of year $27,320 · end of year $3,665

  • 8 · Inventories for sale or use

    beginning of year $52,458 · end of year $56,421

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,410 · end of year $4,015

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

    $243,130

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

    $141,437

  • 10c · Land, buildings and equipment, net

    beginning of year $96,027 · end of year $101,693

  • 11 · Investments: publicly traded securities

    beginning of year $4,723,783 · end of year $4,487,514

  • 17 · Accounts payable and accrued expenses

    beginning of year $81,033 · end of year $100,204

  • 27 · Net assets without donor restrictions

    beginning of year $4,854,974 · end of year $4,514,628

  • 28 · Net assets with donor restrictions

    beginning of year $192,104 · end of year $181,589

Mission and programs · 2023

Mission

NEW EYES PROVIDES THE TRANSFORMATIVE TOOL OF EYEGLASSES TO CHILDREN AND ADULTS FACING FINANCIAL CHALLENGES.

Activities or mission (Part I)

TO PROVIDE EYEGLASSES TO CHILDREN AND ADULTS FACING FINANCIAL CHALLENGES.

  • NEW EYES PROVIDES THE TRANSFORMATIVE TOOL OF NEW EYEGLASSES TO CHILDREN AND ADULTS FACING FINANCIAL CHALLENGES IN THE UNITED STATES SO THEY BUILD BETTER LIVES FOR THEMSELVES, THEIR FAMILIES AND THEIR COMMUNITIES. IN FY2023-24, NEW EYES PURCHASED NEW EYEGLASSES FOR 21,837 INDIVIDUALS IN FINANCIAL NEED IN ALL 50 STATES AND THE DISTRICT OF COLUMBIA.

    Expenses $1,056,048 · Grants $522,222

  • THE ORGANIZATION BEGAN SELLING EYEGLASSES TO THE PUBLIC ONLINE UNDER AZIMUTH EYEWEAR AT MARKET VALUE, DIRECTING NET PROCEEDS TO HELP FUND THE E-VOUCHER PROGRAM

    Expenses $24,957

As filed on the 2023 return.

Listed in Part VII

  • Kristine Van Amsterdam

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Marie Cavanaugh

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Pat Hayes

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Katrina Van Amsterdam

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kevin Smith

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Prem Sharma

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Alex Cooke

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John J Dalton

    TRUSTEE EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Jean Gajano

    EXECUTIVE DIRECTOR

    Total calculated
    $154,633
    From this org
    $151,680
    From related orgs
    $0
    Other
    $2,953
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,680
    Bonus
    $4,000
    Other
    $0
    Deferred
    $2,953
    Nontaxable benefits
    $0
    Filer's total
    $154,633

  • Melissa Malone

    CHIEF OPERATING OFFICER

    Total calculated
    $132,149
    From this org
    $129,461
    From related orgs
    $0
    Other
    $2,688
    Hours/week
    40

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 · 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
2023
Filed
12 August 2024
IRS schema version
2023v5.1
Source object
202442279349300349

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