Civic Intelligence

The Association for Research in Vision and Ophthalmology

990 • Fiscal year 2017 • EIN 34-0812556

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 19, 2018

1801 Rockville Pike No 400Rockville, MD 20852

(240) 221-2900

Siviq Scores

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

Liabilities / Assets

50th percentile

0.21x

Higher debt load relative to assets than 50% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

60th percentile

0.35x

Higher debt load relative to revenue than 60% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

62nd percentile

7.1%

Higher net margin than 62% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

85th percentile

$359,592

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

69th percentile

10%

Faster asset growth than 69% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

38th percentile

1.0%

Faster revenue growth than 38% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$16,843,723

Up $1,578,969 (+10%) from 2016

Net Assets

Up

$13,321,196

Up $1,891,434 (+17%) from 2016

Liabilities

Down

$3,522,527

Down $312,465 (-8.1%) from 2016

Revenue

Up

$9,946,207

Up $100,702 (+1.0%) from 2016

Expenses

Down

$9,239,731

Down $404,625 (-4.2%) from 2016

Net Income

Up

$706,476

Up $505,327 (+251%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2013: $14,353,964Liabilities 2013: $3,647,826Net Assets 2013: $10,706,1382013Assets 2014: $14,784,416Liabilities 2014: $3,798,734Net Assets 2014: $10,985,6822014Assets 2015: $14,314,243Liabilities 2015: $3,469,915Net Assets 2015: $10,844,3282015Assets 2016: $15,264,754Liabilities 2016: $3,834,992Net Assets 2016: $11,429,7622016Assets 2017: $16,843,723Liabilities 2017: $3,522,527Net Assets 2017: $13,321,1962017Assets 2018: $16,006,989Liabilities 2018: $3,898,949Net Assets 2018: $12,108,0402018Assets 2019: $18,879,348Liabilities 2019: $3,449,488Net Assets 2019: $15,429,8602019Assets 2020: $17,004,319Liabilities 2020: $3,188,836Net Assets 2020: $13,815,4832020Assets 2021: $20,911,789Liabilities 2021: $3,957,205Net Assets 2021: $16,954,5842021Assets 2022: $19,266,225Liabilities 2022: $6,047,317Net Assets 2022: $13,218,9082022Assets 2023: $21,408,070Liabilities 2023: $6,817,555Net Assets 2023: $14,590,5152023Assets 2024: $23,327,104Liabilities 2024: $6,825,748Net Assets 2024: $16,501,3562024

Highlighted filing

2017

Assets$16,843,723
Liabilities$3,522,527
Net Assets$13,321,196

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2013: $9,686,549Expenses 2013: $10,030,077Net Income 2013: -$343,5282013Revenue 2014: $11,733,792Expenses 2014: $10,143,962Net Income 2014: $1,589,8302014Revenue 2015: $10,268,864Expenses 2015: $9,810,097Net Income 2015: $458,7672015Revenue 2016: $9,845,505Expenses 2016: $9,644,356Net Income 2016: $201,1492016Revenue 2017: $9,946,207Expenses 2017: $9,239,731Net Income 2017: $706,4762017Revenue 2018: $10,269,432Expenses 2018: $9,995,630Net Income 2018: $273,8022018Revenue 2019: $11,433,768Expenses 2019: $9,722,021Net Income 2019: $1,711,7472019Revenue 2020: $4,996,514Expenses 2020: $7,443,394Net Income 2020: -$2,446,8802020Revenue 2021: $9,468,236Expenses 2021: $7,023,236Net Income 2021: $2,445,0002021Revenue 2022: $8,757,227Expenses 2022: $8,890,047Net Income 2022: -$132,8202022Revenue 2023: $10,284,458Expenses 2023: $10,109,392Net Income 2023: $175,0662023Revenue 2024: $13,912,358Expenses 2024: $11,078,336Net Income 2024: $2,834,0222024

Highlighted filing

2017

Revenue$9,946,207
Expenses$9,239,731
Net Income$706,476
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 19, 2018
Return Version
2017v2.3
Gross Receipts
$10,481,430
Mission and Program Overview

Mission

Arvo advances research worldwide into understanding the visual system and preventing, treating and curing its disorders.

Advance research to understand the visual system & prevent, treat & cure its disorders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,214,434$11,893,330▲ $1,678,896
Savings and Temporary Cash Investments$2,003,348$2,016,199▲ $12,851
Cash and Non-Interest-Bearing Accounts$1,839,056$1,619,810▼ $219,246
Prepaid Expenses and Deferred Charges$750,715$650,463▼ $100,252
Land, Buildings, and Equipment, Net$105,869$273,895▲ $168,026
Accounts Receivable$235,118$265,920▲ $30,802
Total Assets$15,264,754$16,843,723▲ $1,578,969
Other Assets Total$116,214$124,106▲ $7,892
Liabilities
Deferred Revenue$2,749,958$2,729,247▼ $20,711
Accounts Payable and Accrued Expenses$695,918$544,168▼ $151,750
Other Liabilities$389,116$249,112▼ $140,004
Total Liabilities$3,834,992$3,522,527▼ $312,465
Net Assets / Fund Balance
Unrestricted Net Assets$11,360,458$13,296,965▲ $1,936,507
Permanently Rstr Net Assets$20,000$20,000→ $0
Temporarily Rstr Net Assets$49,304$4,231▼ $45,073
Total Net Assets Fund Balance$11,429,762$13,321,196▲ $1,891,434
Total Liabilities and Net Assets / Fund Balance$15,264,754$16,843,723▲ $1,578,969

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$273,895$902,344$1,176,239

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$405,082-▲ $61,163-$456,225
2016$393,680-▲ $24,697$5,000$405,082
2015$404,432-▼ $4,242-$393,680
2014$393,481-▲ $19,230-$404,432
2013$398,603-▲ $37-$393,481
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Iris M Rush CaeExecutive DirectorFT$325,976$33,616$359,592
James JorkaskyExecutive Director, Aevr/nFT$218,943$40,349$259,292
Jason Spessard CaeChief Financial OfficerFT$163,321$16,167$179,488
Timothy MaxeyChief Information OfficerFT$159,889$16,433$176,322
Joanne OlsonDeputy Exec Director (until 8/14/17)FT$148,224$27,944$176,168
Lancey Cowan Jd CaeChief Meetings OfficerFT$138,141$30,930$169,071
Gayle Claman CaeChief Learning OfficerFT$141,083$23,068$164,151
Jonathan Mallett PhdDirector of JournalsFT$107,650$192$107,842

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,308,278
Program Service Revenue
$7,057,397
Investment Income
$540,969
Other Revenue
$39,563
All Other Contributions
$105,306
Change in Net Assets
$706,476

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,946,207
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,241,122
Total Revenue per Audited Statements
$12,187,329
Total Revenue per Form 990
$9,946,207
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,835,826
Salaries, Compensation, and Employee Benefits$4,101,232
Grants and Similar Amounts Paid$302,673
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$821,524$1,759,895-$2,581,419
Conferences and Meetings$1,042,444$36,585-$1,079,029
Comp Disqual Persons$238,466$476,935-$715,401
Office Expenses$219,081$359,953-$579,034
Fees for Services Other$338,741$159,109-$497,850
Information Technology$27,130$437,409-$464,539
Occupancy$92,329$292,866-$385,195
Other Employee Benefits$122,720$240,859-$363,579
Payroll Taxes$76,002$152,748-$228,750
Fees for Services Management$226,565--$226,565
Pension Plan Contributions$55,379$156,704-$212,083
Advertising$112,052$73,185-$185,237
Travel$129,184$46,848-$176,032
Grants to Domestic Orgs$126,000--$126,000
Foreign Grants$103,150--$103,150
Depreciation Depletion-$84,140-$84,140
Grants to Domestic Individuals$73,523--$73,523
Fees for Services Accounting-$27,163-$27,163
Fees for Services Legal-$26,581-$26,581
Insurance-$22,228-$22,228
Other Expenses$289,048$-289,048-$0
Total Functional Expenses$5,154,725$4,085,006$0$9,239,731

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$9,776,420
Expenses per Audited Statements$9,239,731
Total Expenses per Form 990$9,239,731
Expenses Not Reported on Form 990$536,689
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
National Alliance for Eye and Vision Research IncRockville, MD501c4Advocacy for Research$94,500
Alliance for Eye and Vision Research IncRockville, MD501c3Advocacy for Research$31,500

International Summary

Offices
0
Employees
0
Spending
$103,150

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeGrantsTravel and Achievement00$50,700
East Asia & the PacificGrantsTravel and Achievement00$39,600
South AsiaGrantsTravel and Achievement00$6,250
North AmericaGrantsTravel and Achievement00$5,500
South AmericaGrantsTravel and Achievement00$1,100
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
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$202,227
Due to Arvo Foundation$46,885
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Regular & life members - individuals demonstrating a serious interest in or making significant scientific contributions to visual science. Members-in-training: postgraduate fellows and residents - individuals in full-time training at institutions of higher learning in a scientific field related to vision or ophthalmology who have attained a doctorate level degree. Non-voting. Member-in-training: students and predoctoral graduate students - individuals enrolled full-time as undergraduates, graduate, optometry students or medical students at institutions of higher learning in a scientific field related to vision or ophthalmology who have not earned a doctorate level degree. Non-voting. Retired members and emeritus fellows - such person has been a regular member for a cumulative total of at least twenty (20) years; is retired from employment and is no longer engaged in his or her regular research, academic or other scientific activities. Non-voting. Online-only members - individuals with a serious interest in visual science and/or those who support the objectives of arvo, but who are unable to participate at a full level of membership, will receive limited, internet-based benefits. Non-voting.

Form 990, Part VI, Section A, Line 7A

The only classes of membership entitled to hold any elected office in arvo shall be regular and life members. Members shall have voting rights in only one scientific section of arvo.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the executive vice president and executive director each year prior to filing. In addition, the full board receives access to the 990 for review prior to filing.

Form 990, Part VI, Section B, Line 12C

The executive vice president is responsible for monitoring the adherence to the conflict of interest policy. The board of trustees or executive committee votes as necessary on reaffirmation of the board or committee member with their disclosure.

Form 990, Part VI, Section B, Line 15

The finance committee reviews salary structure periodically against the market survey with each category to approve or recommend any adjustments. The most recent year in which the process included review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision was in 2017.

Form 990, Part VI, Section C, Line 19

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

Filing and Contact Details

Filer

Filer Name
Association for Research in Vision and
EIN
34-0812556
Phone
2402212900
Address
1801 ROCKVILLE PIKE NO 400, ROCKVILLE, MD 20852

Signing Officer

Name
Iris M Rush Cae
Title
Executive Director
Phone
2402212900
Signed
2018-10-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Justine Smith
Formed
1936
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
36
Volunteers
35

Preparer

Firm
Cliftonlarsonallen Llp
Address
901 N GLEBE ROAD SUITE 200, ARLINGTON, VA 22203
Preparer
Hemali Patel
Phone
5712279500
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

The organization's endowments consist of various funds maintained to finance various achievement and mit awards.

PART X, LINE 2:

The organization has analyzed its tax positions taken for filings with the internal revenue service and state taxing authorities. As of december 31, 2017 it believes that the tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on its financial position, changes in its net assets, or cash flows. Generally, the organization's tax returns remain open for federal and state income tax examination for three years from the date of filing.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Related party consolidating activities & eliminations 1,056,164.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Related party consolidating activities & eliminations 536,689.

Raw XML AppendixShowing 400 of 991 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Filings

Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $10M-$25M nonprofits