Civic Intelligence

Retina Society Inc.

990 • Fiscal year 2016 • EIN 23-7055681

Jan 01, 2016 to Dec 31, 2016 • Filed on Feb 13, 2017

PO Box 6305Boston, MA 02114

(617) 227-8767

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.00x

Higher debt load relative to revenue than 14% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

85th percentile

28%

Higher net margin than 85% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

78th percentile

15%

Faster asset growth than 78% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

44th percentile

0.6%

Faster revenue growth than 44% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$2,843,621

Up $374,877 (+15%) from 2015

Net Assets

Up

$2,843,236

Up $391,792 (+16%) from 2015

Liabilities

Down

$385

Down $16,915 (-98%) from 2015

Revenue

Up

$1,152,056

Up $7,295 (+0.6%) from 2015

Expenses

Down

$833,257

Down $50,087 (-5.7%) from 2015

Net Income

Up

$318,799

Up $57,382 (+22%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2015: $2,468,744Liabilities 2015: $17,300Net Assets 2015: $2,451,4442015Assets 2016: $2,843,621Liabilities 2016: $385Net Assets 2016: $2,843,2362016Assets 2017: $3,166,914Liabilities 2017: $7,620Net Assets 2017: $3,159,2942017Assets 2018: $3,220,890Liabilities 2018: $950Net Assets 2018: $3,219,9402018Assets 2019: $3,483,635Liabilities 2019: $3,665Net Assets 2019: $3,479,9702019Assets 2020: $3,932,929Liabilities 2020: $4,571Net Assets 2020: $3,928,3582020Assets 2021: $4,396,793Liabilities 2021: $44,150Net Assets 2021: $4,352,6432021Assets 2022: $4,100,246Liabilities 2022: $67,166Net Assets 2022: $4,033,0802022Assets 2023: $3,999,525Liabilities 2023: $0Net Assets 2023: $3,999,5252023

Highlighted filing

2016

Assets$2,843,621
Liabilities$385
Net Assets$2,843,236

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2015: $1,144,761Expenses 2015: $883,344Net Income 2015: $261,4172015Revenue 2016: $1,152,056Expenses 2016: $833,257Net Income 2016: $318,7992016Revenue 2017: $1,169,304Expenses 2017: $1,048,031Net Income 2017: $121,2732017Revenue 2018: $1,225,847Expenses 2018: $1,035,986Net Income 2018: $189,8612018Revenue 2019: $1,210,252Expenses 2019: $1,260,612Net Income 2019: -$50,3602019Revenue 2020: $655,303Expenses 2020: $462,559Net Income 2020: $192,7442020Revenue 2021: $1,448,166Expenses 2021: $1,096,906Net Income 2021: $351,2602021Revenue 2022: $1,568,033Expenses 2022: $1,364,458Net Income 2022: $203,5752022Revenue 2023: $1,663,904Expenses 2023: $1,962,985Net Income 2023: -$299,0812023

Highlighted filing

2016

Revenue$1,152,056
Expenses$833,257
Net Income$318,799
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Feb 13, 2017
Return Version
2016v3.1
Gross Receipts
$1,152,056
Mission and Program Overview

Mission

The society exists to provide educational advancement in ophthalmology.

The society exists to provide educational advancement in ophthalmology

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,889,173$1,998,271▲ $109,098
Cash and Non-Interest-Bearing Accounts$401,910$746,744▲ $344,834
Prepaid Expenses and Deferred Charges$44,843$51,677▲ $6,834
Accounts Receivable$132,818$46,929▼ $85,889
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,468,744$2,843,621▲ $374,877
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$17,300$385▼ $16,915
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$17,300$385▼ $16,915
Net Assets / Fund Balance
Unrestricted Net Assets$2,451,444$2,843,236▲ $391,792
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$2,451,444$2,843,236▲ $391,792
Total Liabilities and Net Assets / Fund Balance$2,468,744$2,843,621▲ $374,877
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mark W Johnson MdPresident
Bernard H Doft MdVice-president
Jennifer Lim MdDirector
Julia Haller MdDirector
Timothy Murray MdDirector
Jeffrey Heier MdSecretary
Allen C Ho MdTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$316,093
Program Service Revenue
$799,700
Investment Income
$36,263
Other Revenue
$0
All Other Contributions
$167,081
Change in Net Assets
$318,799

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,152,056
Revenue Not Reported on Form 990
$72,993
Total Revenue per Audited Statements
$1,225,049
Total Revenue per Form 990
$1,152,056
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$720,830
Salaries, Compensation, and Employee Benefits$81,077
Grants and Similar Amounts Paid$31,350
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$645,181$0$0$645,181
Other Salaries and Wages$27,933$41,898$0$69,831
Fees for Services Accounting$0$35,497$0$35,497
Grants to Domestic Orgs$25,350--$25,350
Other Expenses$0$8,751$0$8,751
Pension Plan Contributions$3,200$4,800$0$8,000
Grants to Domestic Individuals$6,000--$6,000
Travel$4,302$0$0$4,302
Payroll Taxes$1,298$1,948-$3,246
Office Expenses$0$3,187$0$3,187
Total Functional Expenses$713,264$119,993$0$833,257

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$833,257
Total Expenses per Audited Statements$833,257
Total Expenses per Form 990$833,257
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
American Academy of OphthalmologyWashington, DC-Contribution$25,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

PART VI, LINE 7A:

Each active member of the organization, but no other members, are entitled to one vote at any meeting of the members of the organization.

PART VI, LINE 11B:

A copy of the entire form 990 is provided to all members of the governing body prior to filing with the irs.

PART VI, LINE 12:

The organization adopted a conflict of interest policy during march 2016. The policy requires all officers, directors and key employees to disclose all conflicts of interest as they arise and to annually sign a conflict of interest disclosure form at the winter executive committee meeting.

PART VI, LINE 19:

The organization's governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Retina Society Inc
EIN
23-7055681
In Care Of
% JUDY CERONE KEENAN
Phone
6172278767
Address
PO BOX 6305, BOSTON, MA 02114

Signing Officer

Name
Allen Ho
Title
officer
Phone
6172278767
Signed
2017-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark W Johnson
Formed
1968
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
1
Volunteers
7

Preparer

Firm
Bdo USA Llp
Address
339 SIXTH AVE 8TH FL, PITTSBURGH, PA 15222
Preparer
Melanie Wernert
Phone
4122812501
Supplemental Narrative

Additional Explanations

PART V1, LINE 6:

The organization has active members, associate members, corresponding members and emeritus members. Active members are limited to practicing physicians in the united states and canada who: 1. Have been certified by the american board of ophthalmology or who have been certified by or are fellows of the royal college of surgeons (canada) in ophthalmology and 2. Have completed at least one year of fellowship training in diseases of the retina and/or vitreous and been certified by the director of the fellowship program and 3. Have completed at least three years of active clinical practice primarily in the area of diseases of the retina and/or vitreous after completion of the fellowship. Associate members are limited to persons, other than practicing physicians, whose primary interest is the basic scientific disciplines related ot the study of the retina and its diseases. Corresponding members are limited to practicing physicians outside the united states and canada who are engaged primarily in the diagnosis, care and treatment of persons suffering from diseases and injuries to the retina. Emeritus members are members of all other classes who have reached the age of sixty-five or who have been members for twenty-five years, whichever occurs first, and shall have the option of becoming an emeritus member by notifying the executive committee in writing. Each active member of the organization, but no other members, are entitled to one vote at any meeting of the members of the organization. Associate, corresponding, and emeritus members exercise all of the rights and enjoy all of the privileges of active members except the right to vote and the right to hold office and membership on committees.

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

THE RETINA SOCIETY IS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SOCIETY WAS INCORPORATED ON JULY 30, 1968 AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) FOR INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) EXEMPT STATUS ON FEBRUARY 24, 1970. THE SOCIETY FILED ANNUAL RETURNS TIMELY WITH THE IRS THROUGH THE YEAR ENDED DECEMBER 31, 2011. THE SOCIETY FAILED TO FILE ANNUAL RETURNS FOR THE YEARS ENDED DECEMBER 31, 2012 THROUGH DECEMBER 31, 2014. ONCE NOTICE OF FAILURE TO FILE WAS RECEIVED, THE SOCIETY TOOK ACTION TO REQUEST REINSTATEMENT OF EXEMPT STATUS INCLUDING FILING OF FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION AND FORM 990 FOR THE YEARS ENDED DECEMBER 31, 2012 THROUGH DECEMBER 31, 2014. ON JUNE 23, 2016, THE SOCIETY WAS NOTIFIED THAT ITS APPLICATION FOR REINSTATEMENT WAS APPROVED AND THE EFFECTIVE DATE OF EXEMPTION WAS RETROACTIVE TO THE DATE WHICH WAS MAY 15, 2015. FOR THE YEAR ENDED DECEMBER 31, 2016, THE SOCIETY DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS TAKEN IN AN INFORMATION RETURN WHICH WOULD REQUIRE ADJUSTMENT TO OR DISCLOSURE IN ITS FINANCIAL STATEMENTS. THE SOCIETY BELIEVES IT HAS NOT ENGAGED IN ANY ACTIVITIES FOR WHICH ITS TAX-EXEMPT STATUS WOULD NOT BE SUSTAINED UNDER EXAMINATION. THE SOCIETY IS POTENTIALLY SUBJECT TO FEDERAL EXAMINATIONS FOR YEARS SUBSEQUENT TO DECEMBER 31, 2012. THE RETINA SOCIETY ENGAGES CERTAIN ACTIVITIES UNRELATED TO ITS TAX-EXEMPT PURPOSE. THESE ACTIVITIES RESULT IN UNRELATED BUSINESS INCOME THAT IS TAXABLE AT NORMAL CORPORATE RATES. THERE WAS NO INCOME TAX PROVISION OR BENEFIT RECORDED FOR THE YEAR ENDED DECEMBER 31, 2016 and 2015.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE RETINA SOCIETY IS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE SOCIETY WAS INCORPORATED ON JULY 30, 1968 AND RECEIVED A DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) FOR INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) EXEMPT STATUS ON FEBRUARY 24, 1970. THE SOCIETY FILED ANNUAL RETURNS TIMELY WITH THE IRS THROUGH THE YEAR ENDED DECEMBER 31, 2011. THE SOCIETY FAILED TO FILE ANNUAL RETURNS FOR THE YEARS ENDED DECEMBER 31, 2012 THROUGH DECEMBER 31, 2014. ONCE NOTICE OF FAILURE TO FILE WAS RECEIVED, THE SOCIETY TOOK ACTION TO REQUEST REINSTATEMENT OF EXEMPT STATUS INCLUDING FILING OF FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION AND FORM 990 FOR THE YEARS ENDED DECEMBER 31, 2012 THROUGH DECEMBER 31, 2014. ON JUNE 23, 2016, THE SOCIETY WAS NOTIFIED THAT ITS APPLICATION FOR REINSTATEMENT WAS APPROVED AND THE EFFECTIVE DATE OF EXEMPTION WAS RETROACTIVE TO THE DATE WHICH WAS MAY 15, 2015. FOR THE YEAR ENDED DECEMBER 31, 2016, THE SOCIETY DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS TAKEN IN AN INFORMATION RETURN WHICH WOULD REQUIRE ADJUSTMENT TO OR DISCLOSURE IN ITS FINANCIAL STATEMENTS. THE SOCIETY BELIEVES IT HAS NOT ENGAGED IN ANY ACTIVITIES FOR WHICH ITS TAX-EXEMPT STATUS WOULD NOT BE SUSTAINED UNDER EXAMINATION. THE SOCIETY IS POTENTIALLY SUBJECT TO FEDERAL EXAMINATIONS FOR YEARS SUBSEQUENT TO DECEMBER 31, 2012. THE RETINA SOCIETY ENGAGES CERTAIN ACTIVITIES UNRELATED TO ITS TAX-EXEMPT PURPOSE. THESE ACTIVITIES RESULT IN UNRELATED BUSINESS INCOME THAT IS TAXABLE AT NORMAL CORPORATE RATES. THERE WAS NO INCOME TAX PROVISION OR BENEFIT RECORDED FOR THE YEAR ENDED DECEMBER 31, 2016 and 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART X, LINE 2:
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