Civic Intelligence

Ophthalmology Research Foundation Inc.

990 • Fiscal year 2021 • EIN 23-7081974

Aug 01, 2020 to Jul 31, 2021 • Filed on Jan 18, 2022

Organization ProfileN/A
PO Box 015869Miami, FL 33101

(305) 326-6190

Siviq Scores

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

Liabilities / Assets

38th percentile

0.14x

Higher debt load relative to assets than 38% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

85th percentile

1.94x

Higher debt load relative to revenue than 85% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

94th percentile

72%

Higher net margin than 94% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

88th percentile

$945,099

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 16.0% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

40th percentile

8.4%

Faster asset growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

84th percentile

66%

Faster revenue growth than 84% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$81,874,208

Up $6,328,368 (+8.4%) from 2020

Net Assets

Up

$70,468,034

Up $9,451,652 (+15%) from 2020

Liabilities

Down

$11,406,174

Down $3,123,284 (-21%) from 2020

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin94th percentile

Revenue

Up

$5,892,535

Up $2,352,458 (+66%) from 2020

Expenses

Down

$1,631,377

Down $309,482 (-16%) from 2020

Net Income

Up

$4,261,158

Up $2,661,940 (+166%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$100M$50M$0Assets 2011: $39,913,838Liabilities 2011: $367,550Net Assets 2011: $39,546,2882011Assets 2012: $39,863,788Liabilities 2012: $367,550Net Assets 2012: $39,496,2382012Assets 2016: $66,531,522Liabilities 2016: $15,350,000Net Assets 2016: $51,181,5222016Assets 2017: $71,728,118Liabilities 2017: $17,990,379Net Assets 2017: $53,737,7392017Assets 2018: $74,424,700Liabilities 2018: $17,641,371Net Assets 2018: $56,783,3292018Assets 2019: $75,072,078Liabilities 2019: $17,164,174Net Assets 2019: $57,907,9042019Assets 2020: $75,545,840Liabilities 2020: $14,529,458Net Assets 2020: $61,016,3822020Assets 2021: $81,874,208Liabilities 2021: $11,406,174Net Assets 2021: $70,468,0342021Assets 2022: $78,932,137Liabilities 2022: $11,235,502Net Assets 2022: $67,696,6352022Assets 2023: $75,827,274Liabilities 2023: $7,567,623Net Assets 2023: $68,259,6512023Assets 2024: $78,779,926Liabilities 2024: $4,802,977Net Assets 2024: $73,976,9492024

Highlighted filing

2021

Assets$81,874,208
Liabilities$11,406,174
Net Assets$70,468,034
Open 2021 Filing

Operations Trend

Revenue Growth84th percentile

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

$10M$5.0M$0-$5.0MExpenses 2011: $1,469,2892011Expenses 2012: $1,390,9732012Revenue 2016: $4,555,956Expenses 2016: $1,324,016Net Income 2016: $3,231,9402016Revenue 2017: $4,102,375Expenses 2017: $3,054,226Net Income 2017: $1,048,1492017Revenue 2018: $6,587,057Expenses 2018: $2,036,358Net Income 2018: $4,550,6992018Revenue 2019: $3,886,530Expenses 2019: $2,137,232Net Income 2019: $1,749,2982019Revenue 2020: $3,540,077Expenses 2020: $1,940,859Net Income 2020: $1,599,2182020Revenue 2021: $5,892,535Expenses 2021: $1,631,377Net Income 2021: $4,261,1582021Revenue 2022: $9,352,354Expenses 2022: $4,415,218Net Income 2022: $4,937,1362022Revenue 2023: $3,013,509Expenses 2023: $4,480,481Net Income 2023: -$1,466,9722023Revenue 2024: $4,118,926Expenses 2024: $1,761,655Net Income 2024: $2,357,2712024

Highlighted filing

2021

Revenue$5,892,535
Expenses$1,631,377
Net Income$4,261,158
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2020 to Jul 31, 2021
Signed
Jan 18, 2022
Return Version
2020v4.0
Gross Receipts
$5,892,535
Mission and Program Overview

Mission

The organization's purpose is to provide financial support for the department of ophthalmology of the university of miami school of medicine

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$36,833,700$44,940,869▲ $8,107,169
Land, Buildings, and Equipment, Net$36,133,497$35,298,912▼ $834,585
Savings and Temporary Cash Investments$1,503,303$853,179▼ $650,124
Pledges and Grants Receivable$1,074,359$781,248▼ $293,111
Cash and Non-Interest-Bearing Accounts$6--
Total Assets$75,545,840$81,874,208▲ $6,328,368
Other Assets Total$975--
Liabilities
Other Liabilities$14,529,458$11,406,174▼ $3,123,284
Total Liabilities$14,529,458$11,406,174▼ $3,123,284
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$61,016,382$70,468,034▲ $9,451,652
Total Net Assets Fund Balance$61,016,382$70,468,034▲ $9,451,652
Total Liabilities and Net Assets / Fund Balance$75,545,840$81,874,208▲ $6,328,368

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$25,697,132$10,231,294$35,928,426
Land$9,601,780-$9,601,780
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleOtherTotal
Steven J GeddeMember-at-la$427,736$427,736
David Tse MdMember-at-la$400,527$400,527
Carol Karp MdMember-at-la$344,304$344,304

Board Members and Trustees

NameTitle
Eduardo Alfonso MdPresident
John G Clarkson MdExecutive Di
Carol Karp MdMember-at-large
David Tse MdMember-at-large
Steven J GeddeMember-at-large
Richard Parrish Ii MdSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,952,216
Program Service Revenue
$1,507,630
Investment Income
$2,432,689
Other Revenue
$0
All Other Contributions
$1,952,216
Change in Net Assets
$4,261,158

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,892,535
Revenue Not Reported on Form 990
$5,190,494
Total Revenue per Audited Statements
$11,083,029
Total Revenue per Form 990
$5,892,535
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,561,782
Grants and Similar Amounts Paid$69,107
Total Fundraising Expense$4,769
Salaries, Compensation, and Employee Benefits$488
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$908,959--$908,959
Fees for Service Investment Mgmnt Fees-$103,597-$103,597
Grants to Domestic Orgs$69,107--$69,107
Occupancy$17,335$24,000-$41,335
Fees for Services Accounting$20,825$5,950$2,975$29,750
Office Expenses$13,200$2,861$1,431$17,492
Interest$3,694$923-$4,617
Other Expenses$2,543$726$363$3,632
Other Salaries and Wages-$488-$488
Total Functional Expenses$1,487,219$139,389$4,769$1,631,377

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,631,377
Total Expenses per Audited Statements$1,631,377
Total Expenses per Form 990$1,631,377
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
----$69,107
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Secured Mortgages and Notes Payable$6,988,628
Note Payable - Bank$4,417,546
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
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

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Ophthalmology Research Foundation
EIN
23-7081974
Phone
3053266190
Address
PO BOX 015869, MIAMI, FL 33101

Signing Officer

Name
John G Clarkson Md
Title
Executive Director
Phone
3053266190
Signed
2022-01-18

Organization Details

Principal Officer
John G Clarkson Md
Formed
1970
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Sanson Kline Jacomino & Tandoc Llp
Address
5805 BLUE LAGOON DR STE 145, MIAMI, FL 33126
Preparer
Alfredo a Jacomino
Phone
3052698633
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN G CLARKSON MD
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$81,874,208
Liabilities
$11,406,174
Net assets
$70,468,034
Revenue
$5,892,535
Expenses
$1,631,377
Net income
$4,261,158
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$78.8$4.80$74.0$4.12$1.76$2.36
2023Detailed filing. Detailed filing data is available for this year.$75.8$7.57$68.3$3.01$4.48$1.47
2022Detailed filing. Detailed filing data is available for this year.$78.9$11.2$67.7$9.35$4.42$4.94
2021Detailed filing. Detailed filing data is available for this year.$81.9$11.4$70.5$5.89$1.63$4.26
2020Detailed filing. Detailed filing data is available for this year.$75.5$14.5$61.0$3.54$1.94$1.60
2019Detailed filing. Detailed filing data is available for this year.$75.1$17.2$57.9$3.89$2.14$1.75
2018Detailed filing. Detailed filing data is available for this year.$74.4$17.6$56.8$6.59$2.04$4.55
2017Detailed filing. Detailed filing data is available for this year.$71.7$18.0$53.7$4.10$3.05$1.05
2016Detailed filing. Detailed filing data is available for this year.$66.5$15.4$51.2$4.56$1.32$3.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.9$0.37$39.5$1.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$39.9$0.37$39.5$1.47