Form 990 for tax year 2023
Filed by OPHTHALMOLOGY RESEARCH FOUNDATION INC.
Totals
- Total revenue
- $4,118,926
- Total expenses
- $1,761,655
- Contributions and grants received
- $362,586
- Grants paid
- $340,000
- Program service revenue
- $2,356,008
- Investment income
- $1,400,332
- Other revenue
- $0
- Total assets, end of year
- $78,779,926
- Total liabilities, end of year
- $4,802,977
- Net assets or fund balances, end of year
- $73,976,949
- Program services expenses (Part IX)
- $1,724,805
- Management and general expenses
- $33,623
- Fundraising expenses
- $3,227
- Program service expenses (Part III)
- $1,724,805
Program services were 97.9% 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
$362,586
-
2a · Program service revenue: RENTAL INCOME
total $2,356,008 · related or exempt $2,356,008
-
3 · Investment income
total $1,222,594 · related or exempt $1,222,594
-
7a · Gross sales of assets other than inventory
securities $177,738
-
7c · Gain or loss
securities $177,738
-
7d · Net gain or loss
total $177,738 · related or exempt $177,738
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $340,000 · program services $340,000
-
7 · Other salaries and wages
total $29,750 · program services $20,825 · management and general $5,950 · fundraising $2,975
-
11c · Fees: accounting
total $24,800 · management and general $24,800
-
11f · Fees: investment management
total $101,922 · program services $101,922
-
13 · Office expenses
total $1,368 · management and general $1,368
-
16 · Occupancy
total $20,734 · program services $20,734
-
20 · Interest
total $260,306 · program services $260,306
-
22 · Depreciation, depletion and amortization
total $910,707 · program services $910,707
-
23 · Insurance
total $5,003 · program services $4,002 · management and general $1,001
-
24a · Other expenses: TAXES & LICENSES
total $45,068 · program services $45,068
-
24b · Other expenses: BAD DEBT
total $10,000 · program services $10,000
-
24c · Other expenses: REPAIRS AND MAINENANCE
total $9,477 · program services $9,477
-
24d · Other expenses: BANK CHARGES
total $2,520 · program services $1,764 · management and general $504 · fundraising $252
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $3
-
2 · Savings and temporary cash investments
beginning of year $2,062,602 · end of year $1,796,241
-
3 · Pledges and grants receivable
beginning of year $467,724 · end of year $196,967
-
10a · Land, buildings and equipment: cost or other basis
$45,530,206
-
10b · Land, buildings and equipment: accumulated depreciation
$12,963,418
-
10c · Land, buildings and equipment, net
beginning of year $33,477,498 · end of year $32,566,788
-
11 · Investments: publicly traded securities
beginning of year $39,819,450 · end of year $44,219,927
-
25 · Other liabilities
beginning of year $7,567,623 · end of year $4,802,977
-
27 · Net assets without donor restrictions
beginning of year $68,259,651 · end of year $73,976,949
Mission and programs · 2023
Mission
THE MISSION OF THE ORF IS TO RECEIVE AND MAINTAIN FUNDS THAT ARE USED EXCLUSIVELY TO SUPPORT THE CHARITABLE, SCIENTIFIC, OR EDUCATIONAL PURPOSES OF THE BASCOM PALMER EYE INSTITUTE IS THE DEPARTMENT OF OPHTHALMOLOGY OF THE UNIVERSITY OF MIAMI MILLER SCHOOL OF MEDICINE.
-
THE ORGANIZATION PURCHASES PROPERTY, LOANS MONEY, OR CONSTRUCTS BASCOM PALMER'S PRIMARY PRACTICE LOCATIONS. MOST RECENTLY, PROPERTY WAS PURCHASED FOR THE CONSTRUCTION OF THE BASCOM PALMER EYE INSTITUTE IN NAPLES, FL
Expenses $1,724,805 · Grants $340,000
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Eduardo Alfonso MDEDUARDO ALFONSO MD
PRESIDENT
- Total calculated
- $1,323,140
- From this org
- $0
- From related orgs
- $1,316,342
- Other
- $6,798
- Hours/week
- 2
Schedule J breakdown matched by us
- Base
- not reported + $1,316,342 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $6,798 related
- Filer's total
- not reported + $1,323,140 related
-
Carol Karp MDCAROL KARP MD
MEMBER-AT-LA
- Total calculated
- $567,780
- From this org
- $0
- From related orgs
- $565,458
- Other
- $2,322
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- not reported + $565,458 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $2,322 related
- Filer's total
- not reported + $567,780 related
-
Steven J GeddeSTEVEN J GEDDE
MEMBER-AT-LA
- Total calculated
- $486,257
- From this org
- $0
- From related orgs
- $483,935
- Other
- $2,322
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- not reported + $483,935 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $2,322 related
- Filer's total
- not reported + $486,257 related
-
Richard Parrish II MDRICHARD PARRISH II MD
SECRETARY
- Total calculated
- $475,329
- From this org
- $0
- From related orgs
- $468,531
- Other
- $6,798
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- not reported + $468,531 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $6,798 related
- Filer's total
- not reported + $475,329 related
-
David Tse MDDAVID TSE MD
MEMBER-AT-LA
- Total calculated
- $425,972
- From this org
- $0
- From related orgs
- $419,174
- Other
- $6,798
- Hours/week
- 0.5
Schedule J breakdown matched by us
- Base
- not reported + $419,174 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported + $6,798 related
- Filer's total
- not reported + $425,972 related
-
John G Clarkson MDJOHN G CLARKSON MD
EXECUTIVE DI
- Total calculated
- $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
None.
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
-
$340,000
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 26 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520589349301322
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