Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,556,287

• 2a · Program service revenue: Patient service revenue

  total $30,088,964 · related or exempt $30,088,964

• 2b · Program service revenue: Clinical and other revenue

  total $1,695,869 · related or exempt $1,695,869

• 2c · Program service revenue: Education and research

  total $527,070 · related or exempt $527,070

• 3 · Investment income

  total $415,006 · unrelated business -$4,903 · excluded $419,909

• 7a · Gross sales of assets other than inventory

  securities $30,561,247

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

  securities $22,136,720

• 7c · Gain or loss

  securities $8,424,527

• 7d · Net gain or loss

  total $8,424,527 · excluded $8,424,527

• 10a · Gross sales of inventory

  $331,747

• 10b · Cost of goods sold

  $319,423

• 10c · Net income from sales of inventory

  total $12,324 · related or exempt $10,388 · unrelated business $1,936

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,427,412 · program services $1,427,412

• 5 · Compensation of officers, directors and key employees

  total $9,921,319 · program services $9,510,318 · management and general $411,001

• 7 · Other salaries and wages

  total $15,227,855 · program services $12,480,744 · management and general $2,747,111

• 8 · Pension plan contributions

  total $230,815 · program services $227,061 · management and general $3,754

• 9 · Other employee benefits

  total $2,375,856 · program services $2,038,631 · management and general $337,225

• 10 · Payroll taxes

  total $336,886 · program services $336,886

• 11b · Fees: legal

  total $43,296 · management and general $43,296

• 11c · Fees: accounting

  total $7,800 · management and general $7,800

• 11g · Fees: other

  total $211,825 · program services $181,141 · management and general $30,684

• 12 · Advertising and promotion

  total $23,495 · management and general $23,495

• 13 · Office expenses

  total $1,004,198 · program services $852,669 · management and general $151,529

• 16 · Occupancy

  total $1,344,446 · program services $1,344,446

• 17 · Travel

  total $124,177 · program services $106,152 · management and general $18,025

• 19 · Conferences, conventions and meetings

  total $176,420 · program services $172,265 · management and general $4,155

• 22 · Depreciation, depletion and amortization

  total $127,923 · program services $127,923

• 23 · Insurance

  total $133,071 · program services $83,318 · management and general $49,753

• 24a · Other expenses: Administrative fees

  total $1,203,559 · program services $1,203,559

• 24b · Other expenses: PO Management Services

  total $804,307 · program services $804,307

• 24c · Other expenses: Billing Expenses

  total $704,632 · program services $704,632

• 24d · Other expenses: Coordinated Specialty P

  total $586,525 · program services $586,525

• 24e · All other expenses

  total $290,987 · program services $290,987

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $272,636 · end of year $323,078

• 2 · Savings and temporary cash investments

  beginning of year $9,055,090 · end of year $13,854,390

• 4 · Accounts receivable

  beginning of year $3,211,867 · end of year $2,773,721

• 5 · Loans and receivables from officers and key people

  beginning of year $198,000 · end of year $139,000

• 7 · Other notes and loans receivable

  end of year $250,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $192,607 · end of year $146,935

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

  $2,325,900

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

  $816,577

• 10c · Land, buildings and equipment, net

  beginning of year $1,468,273 · end of year $1,509,323

• 11 · Investments: publicly traded securities

  beginning of year $34,607,404 · end of year $9,019,617

• 12 · Investments: other securities

  beginning of year $15,434,999 · end of year $18,270,066

• 13 · Investments: program-related

  beginning of year $177,049 · end of year $96,257

• 15 · Other assets

  beginning of year $2,646,615 · end of year $2,697,924

• 17 · Accounts payable and accrued expenses

  beginning of year $4,938,845 · end of year $6,693,248

• 18 · Grants payable

  beginning of year $25,674,998 · end of year $0

• 19 · Deferred revenue

  beginning of year $37,355 · end of year $18,397

• 25 · Other liabilities

  beginning of year $8,842,117 · end of year $22,794,196

• 27 · Net assets without donor restrictions

  beginning of year $27,669,225 · end of year $19,472,470

• 28 · Net assets with donor restrictions

  beginning of year $102,000 · end of year $102,000

The filer's explanations (Part III)

Part I, Line 1b

For those eligible employees, Children's Hospital Ophthalmology Foundation, Inc. (the Foundation) offers gross-up payments for certain benefits that need to be included as taxable income to the employees. Although a written policy does not exist, these payments are communicated to the employees during the initial employment process by the President and Executive Director. All Boston Children's Hospital employees are eligible (those receiving W-2's). The Foundation hosts an alumni retreat biennially, in which it reimburses travel costs for employees and their respective guests.

Part I, Line 4b

Effective December 15, 2015, the Foundation established a 457(f) plan to provide benefits to certain eligible employees whose ability to make elective deferrals under Code Section 403(b) is eliminated or impaired as determined by the Administrator. Non-elective contributions are made by the employer for the participant. Investments are held in trust. During the year ended September 30, 2024, there were no contributions made to the plan.

Part I, Line 7

The total bonus pool for each fiscal year is built into the yearly budgets and approved by the Board of Directors. This approved bonus pool is distributed to both the leased staff and the physicians. All bonuses are discretionary. The bonus is not a division of earnings of Children's Hospital Ophthalmology Foundation, Inc. (the Foundation). The Ophthalmologist-in-Chief determines a bonus pool based on available funds and then allocates the bonus pool based on the contributions of each professional employee taking into account a variety of factors, including clinical and research contributions, academic performance, and quality services. The Foundation ensures that the total compensation does not exceed the fair market value (FMV) and Reasonableness Maximum compensation upper limits as defined in the Guidelines for Employed Physician and Affiliated Physician Foundation Compensation and Oversight Requirements as set by Boston Children's Hospital.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Children's Ophthalmology Management Services LLC

  Management Service Organization · NY · income -$93,115 · assets $534,755

  Directly controlled by Children's Hospital Ophthalmology Foundation Inc

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Foundation Optical LLC

  Related · Eyeglass Sales · MA · 55% owned · share of income $12,323 · share of assets $90,740 · general or managing partner

  Directly controlled by Children's Hospital Ophthalmology Foundation Inc