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← OPHTHALMOLOGY RESEARCH FOUNDATION INC

Form 990 for tax year 2024

Filed by OPHTHALMOLOGY RESEARCH FOUNDATION INC.

Totals

Total revenue
$8,505,316
Total expenses
$1,624,659
Contributions and grants received
$218,655
Grants paid
$0
Program service revenue
$1,967,120
Investment income
$6,319,541
Other revenue
$0
Total assets, end of year
$82,826,708
Total liabilities, end of year
$3,743,786
Net assets or fund balances, end of year
$79,082,922
Program services expenses (Part IX)
$1,580,069
Management and general expenses
$41,597
Fundraising expenses
$2,993
Program service expenses (Part III)
$1,580,069

Program services were 97.3% 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

    $218,655

  • 1g · Noncash contributions included above

    $29,750

  • 2a · Program service revenue

    total $1,967,120 · excluded $1,967,120

  • 3 · Investment income

    total $1,351,459 · related or exempt $1,351,459

  • 7a · Gross sales of assets other than inventory

    securities $30,576,488

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

    securities $25,608,406

  • 7c · Gain or loss

    securities $4,968,082

  • 7d · Net gain or loss

    total $4,968,082 · related or exempt $4,968,082

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $29,750 · program services $20,825 · management and general $5,950 · fundraising $2,975

  • 11b · Fees: legal

    total $7,500 · program services $7,500

  • 11c · Fees: accounting

    total $26,300 · management and general $26,300

  • 11f · Fees: investment management

    total $110,115 · program services $110,115

  • 13 · Office expenses

    total $22,945 · program services $21,474 · management and general $1,453 · fundraising $18

  • 16 · Occupancy

    total $50,425 · program services $50,425

  • 20 · Interest

    total $159,477 · program services $159,477

  • 22 · Depreciation, depletion and amortization

    total $910,708 · program services $910,708

  • 23 · Insurance

    total $5,256 · program services $4,205 · management and general $1,051

  • 24a · Other expenses: DONATIONS

    total $290,000 · program services $290,000

  • 24b · Other expenses: MISCELLANEOUS

    total $6,843 · management and general $6,843

  • 24c · Other expenses: LAWN MAINTENANCE

    total $5,340 · program services $5,340

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3 · end of year $830,765

  • 2 · Savings and temporary cash investments

    beginning of year $1,796,241 · end of year $1,988,671

  • 3 · Pledges and grants receivable

    beginning of year $196,967 · end of year $182,783

  • 4 · Accounts receivable

    end of year $181,523

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

    $45,530,127

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

    $13,874,044

  • 10c · Land, buildings and equipment, net

    beginning of year $32,566,788 · end of year $31,656,083

  • 11 · Investments: publicly traded securities

    beginning of year $44,219,927 · end of year $47,978,014

  • 15 · Other assets

    end of year $8,869

  • 25 · Other liabilities

    beginning of year $4,802,977 · end of year $3,743,786

  • 27 · Net assets without donor restrictions

    beginning of year $73,976,949 · end of year $71,319,651

  • 28 · Net assets with donor restrictions

    end of year $7,763,271

Mission and programs · 2024

Mission

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.

Activities or mission (Part I)

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 THAT IS THE DEPARTMENT OF OPHTHALMOLOGY OF THE UNIVERSITY OF MIAMI MILLER SCHOOL OF MEDICINE.

  • THE ORGANIZATION PURCHASES PROPERTY, LOANS MONEY OR CONSTRUCTS BASOM PALMER'S PRIMARY PRACTICE LOCATIONS. MOST RECENTLY, PROPERTY WAS PURCHASED FOR THE CONSTRUCTION OF THE BASCOM PALMER'S EYE INSTITUTE IN NAPLES, FL.

    Expenses $1,580,069 · Revenue $1,967,120

As filed on the 2024 return.

Listed in Part VII

  • Eduardo Alfonso

    PRESIDENT

    Total calculated
    $1,396,836
    From this org
    $0
    From related orgs
    $1,390,038
    Other
    $6,798

    Schedule J breakdown matched by us

    Base
    not reported + $1,390,038 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $6,798 related
    Filer's total
    not reported + $1,396,836 related

  • Steven J Gedde

    MEMBER-AT-LA

    Total calculated
    $751,703
    From this org
    $0
    From related orgs
    $749,381
    Other
    $2,322

    Schedule J breakdown matched by us

    Base
    not reported + $749,381 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $2,322 related
    Filer's total
    not reported + $751,703 related

  • Carol Karp MD

    MEMBER-AT-LA

    Total calculated
    $442,305
    From this org
    $0
    From related orgs
    $438,741
    Other
    $3,564

    Schedule J breakdown matched by us

    Base
    not reported + $438,741 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $3,564 related
    Filer's total
    not reported + $442,305 related

  • Richard Parrish II M D

    SECRETARY

    Total calculated
    $438,194
    From this org
    $0
    From related orgs
    $431,396
    Other
    $6,798

    Schedule J breakdown matched by us

    Base
    not reported + $431,396 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $6,798 related
    Filer's total
    not reported + $438,194 related

  • David Tse MD

    MEMBER-AT-LA

    Total calculated
    $421,234
    From this org
    $0
    From related orgs
    $414,436
    Other
    $6,798

    Schedule J breakdown matched by us

    Base
    not reported + $414,436 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported + $6,798 related
    Filer's total
    not reported + $421,234 related

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
4 June 2026
IRS schema version
2024v5.0
Source object
202641739349301559

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