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Nonprofiteer
← THE ARVO FOUNDATION FOR EYE RESEARCH INC

Form 990 for tax year 2024

Filed by THE ARVO FOUNDATION FOR EYE RESEARCH INC.

Totals

Total revenue
$1,607,205
Total expenses
$1,244,107
Contributions and grants received
$1,074,219
Grants paid
$683,747
Program service revenue
$0
Investment income
$647,831
Other revenue
-$114,845
Total assets, end of year
$8,983,290
Total liabilities, end of year
$1,533,038
Net assets or fund balances, end of year
$7,450,252
Program services expenses (Part IX)
$981,941
Management and general expenses
$241,748
Fundraising expenses
$20,418
Program service expenses (Part III)
$981,941

Program services were 78.9% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $196,628

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $877,591

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $242,951 · related or exempt $242,951 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $8,795,871 · other assets $0

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

    securities $8,390,991 · other assets $0

  • 7c · Gain or loss

    securities $404,880 · other assets $0

  • 7d · Net gain or loss

    total $404,880 · related or exempt $0 · unrelated business $0 · excluded $404,880

  • 8a · Fundraising events: gross income

    $93,029

  • 8a · Fundraising events: contributions included on line 1c

    $196,628

  • 8b · Fundraising events: direct expenses

    $207,874

  • 8c · Net income from fundraising events

    total -$114,845 · unrelated business $0 · excluded -$114,845

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $235,045 · program services $235,045

  • 2 · Grants to domestic individuals

    total $144,750 · program services $144,750

  • 3 · Grants to foreign organizations and individuals

    total $303,952 · program services $303,952

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $193,830 · program services $37,584 · management and general $156,073 · fundraising $173

  • 8 · Pension plan contributions

    total $10,590 · program services $3,581 · management and general $6,992 · fundraising $17

  • 9 · Other employee benefits

    total $17,549 · program services $3,526 · management and general $14,012 · fundraising $11

  • 10 · Payroll taxes

    total $11,985 · program services $2,612 · management and general $9,361 · fundraising $12

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $5,118 · program services $0 · management and general $5,118 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $25,381 · program services $0 · management and general $25,381 · fundraising $0

  • 11g · Fees: other

    total $14,862 · program services $6,140 · management and general $8,722 · fundraising $0

  • 12 · Advertising and promotion

    total $146,020 · program services $144,575 · management and general $935 · fundraising $510

  • 13 · Office expenses

    total $43,801 · program services $31,486 · management and general $8,340 · fundraising $3,975

  • 14 · Information technology

    total $2,626 · program services $0 · management and general $686 · fundraising $1,940

  • 15 · Royalties

    total $0 · program services $0 · fundraising $0

  • 16 · Occupancy

    total $5,708 · program services $0 · management and general $5,708 · fundraising $0

  • 17 · Travel

    total $660 · program services $0 · management and general $0 · fundraising $660

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $82,230 · program services $68,690 · management and general $420 · fundraising $13,120

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $418,552 · end of year $754,381

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $22,439 · end of year $23,810

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,940 · end of year $2,057

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $7,337,556 · end of year $8,203,042

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $382,092 · end of year $371,062

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $82,921 · end of year $49,523

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $418,153 · end of year $1,112,453

  • 27 · Net assets without donor restrictions

    beginning of year $3,864,424 · end of year $4,429,434

  • 28 · Net assets with donor restrictions

    beginning of year $3,032,897 · end of year $3,020,818

Mission and programs · 2024

Mission

Our mission is to serve as a global catalyst for innovation, workforce development and collaboration in the field of vision research.

  • AWARDS AND GRANTS: THE ARVO FOUNDATION OFFERS A NUMBER OF AWARDS TO RECOGNIZE EXEMPLARY RESEARCH AND SEVERAL RESEARCH AWARDS AND FELLOWSHIPS THAT SUPPORT NOVEL RESEARCH PROJECTS, WITH AN EMPHASIS ON SUPPORTING SCIENTISTS WHO ARE EARLY IN THEIR CAREER OR FROM AN UNDERREPRESENTED GROUP.

    Expenses $819,703 · Grants $683,747

  • EVENTS AND INITIATIVES: THE ARVO FOUNDATION ORGANIZES FUNDRAISING EVENTS, AS WELL AS PROGRAMS AND INITIATIVES THAT HELP FURTHER THE CAREERS OF EYE AND VISION RESEARCHERS. OTHER INITIATIVES INCLUDE CAREER DEVELOPMENT PROGRAMS, ADVANCING WOMEN IN SCIENCE, ARVO'S INTERNATIONAL CHAPTER AFFILIATES, THE KEYNOTE SERIES AT THE ARVO ANNUAL MEETING AND SPECIALTY SCIENTIFIC MEETINGS.

    Expenses $162,238

As filed on the 2024 return.

Listed in Part VII

  • IRIS M RUSH CAE

    EXECUTIVE DIRECTOR

    Total calculated
    $382,104
    From this org
    $0
    From related orgs
    $347,713
    Other
    $34,391
    Hours/week
    5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $346,713 related
    Bonus
    $0 + $1,000 related
    Other
    $0
    Deferred
    $0 + $33,171 related
    Nontaxable benefits
    $0 + $1,220 related
    Filer's total
    $0 + $382,104 related

  • JASON SPESSARD CAE

    CHIEF OPERATING & FINANCIAL OFFICER

    Total calculated
    $269,786
    From this org
    $0
    From related orgs
    $247,785
    Other
    $22,001
    Hours/week
    5 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $241,785 related
    Bonus
    $0 + $6,000 related
    Other
    $0
    Deferred
    $0 + $21,208 related
    Nontaxable benefits
    $0 + $793 related
    Filer's total
    $0 + $269,786 related

  • JOEL S SCHUMAN MD FARVO

    IMMEDIATE PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • RAFAL FARJO PHD FARVO

    CHAIR

    Total calculated
    $0
    Hours/week
    3

  • ALAN MORSE JD PHD

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • EMILY CHEW MD FARVO

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • MARY ELIZABETH HARTNETT MD FARVO

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • RENU KOWLURU PHD FARVO

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • JANEY WIGGS MD PHD FARVO

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS YORIO PHD FARVO

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • BARBARA WIROSTKO MD FARVO

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM MIELER MD FARVO FACS

    GOVERNOR

    Total calculated
    $0
    Hours/week
    1

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

The filer's explanations (Part III)

Schedule J, Part I, Line 3
COMPENSATION IS SET BY THE RELATED ORGANIZATION, ARVO. ARVO'S FINANCE COMMITTEE AND BOARD OF TRUSTEES REVIEW SALARY STRUCTURE PERIODICALLY AGAINST MARKET SURVEYS WITH EACH CATEGORY TO APPROVE OR RECOMMEND ANY ADJUSTMENTS.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
11 April 2025
IRS schema version
2024v5.0
Source object
202541139349300729

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