Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $281,000

• 1f · All other contributions, gifts and grants

  $1,232,320

• 3 · Investment income

  total $218,628 · excluded $218,628

• 7a · Gross sales of assets other than inventory

  securities $611,654

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

  securities $619,257

• 7c · Gain or loss

  securities -$7,603

• 7d · Net gain or loss

  total -$7,603 · excluded -$7,603

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $376,766 · program services $376,766

• 2 · Grants to domestic individuals

  total $291,550 · program services $291,550

• 3 · Grants to foreign organizations and individuals

  total $115,857 · program services $115,857

• 5 · Compensation of officers, directors and key employees

  total $165,338 · program services $99,033 · management and general $22,289 · fundraising $44,016

• 7 · Other salaries and wages

  total $44,144 · program services $26,441 · management and general $5,952 · fundraising $11,751

• 9 · Other employee benefits

  total $25,720 · program services $15,406 · management and general $3,467 · fundraising $6,847

• 11c · Fees: accounting

  total $11,865 · management and general $11,865

• 11f · Fees: investment management

  total $30,363 · management and general $30,363

• 11g · Fees: other

  total $93,109 · program services $90,109 · fundraising $3,000

• 12 · Advertising and promotion

  total $14,135 · fundraising $14,135

• 13 · Office expenses

  total $34,658 · program services $20,119 · management and general $346 · fundraising $14,193

• 14 · Information technology

  total $47,388 · program services $21,995 · management and general $4,615 · fundraising $20,778

• 17 · Travel

  total $33,541 · program services $1,681 · management and general $22,953 · fundraising $8,907

• 19 · Conferences, conventions and meetings

  total $75,336 · program services $1,721 · management and general $7,750 · fundraising $65,865

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $362,543 · end of year $389,410

• 2 · Savings and temporary cash investments

  beginning of year $420,275 · end of year $210,340

• 3 · Pledges and grants receivable

  beginning of year $833,730 · end of year $1,122,911

• 9 · Prepaid expenses and deferred charges

  beginning of year $27,215 · end of year $14,750

• 11 · Investments: publicly traded securities

  beginning of year $6,938,847 · end of year $7,863,972

• 15 · Other assets

  beginning of year $19,404 · end of year $292,630

• 17 · Accounts payable and accrued expenses

  beginning of year $209,831 · end of year $7,127

• 18 · Grants payable

  beginning of year $3,750 · end of year $3,750

• 25 · Other liabilities

  beginning of year $91,769 · end of year $602,448

• 27 · Net assets without donor restrictions

  beginning of year $2,194,351 · end of year $2,303,957

• 28 · Net assets with donor restrictions

  beginning of year $6,102,313 · end of year $6,976,731

The filer's explanations (Part III)

PART I, LINE 3

THE CHIEF EXECUTIVE OFFICER'S COMPENSATION IS DETERMINED BY THE AMERICAN ACADEMY OF OPTOMETRY, A RELATED ORGANIZATION. A PERFORMANCE EVALUATION IS CONDUCTED ANNUALLY USING A 360-DEGREE EVALUATION BY STAFF, COMMITTEES AND SECTION OFFICERS, AS WELL AS THE BOARD. THE MANAGEMENT COMMITTEE MAKES A RECOMMENDATION TO THE BOARD, TAKING INTO ACCOUNT A REVIEW OF COMPARABLE SALARIES PROVIDED IN SALARY SURVEYS OF NOT-FOR-PROFITS. THE BOARD REVIEWS THE MANAGEMENT COMMITTEE'S RECOMMENDATION. THE DECISION/APPROVAL IS DOCUMENTED IN THE MINUTES AND IN THE CHIEF EXECUTIVE OFFICER CONTRACT. THIS PROCESS LAST OCCURRED IN 2022.