Civic Intelligence

The North Carolina Eye Bank Inc

990 • Fiscal year 2021 • EIN 56-0628753

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 24, 2022

3900 Westpoint Boulevard Suite FWinston Salem, NC 27103-3903

(336) 765-0932

Siviq Scores

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

Liabilities / Assets

31st percentile

0.07x

Higher debt load relative to assets than 31% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

28th percentile

0.11x

Higher debt load relative to revenue than 28% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

65th percentile

20%

Higher net margin than 65% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

63rd percentile

$300,000

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

61st percentile

15%

Faster asset growth than 61% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

71st percentile

32%

Faster revenue growth than 71% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$25,282,806

Up $3,225,279 (+15%) from 2020

Net Assets

Up

$23,552,007

Up $3,051,709 (+15%) from 2020

Liabilities

Up

$1,730,799

Up $173,570 (+11%) from 2020

Revenue

Up

$15,112,420

Up $3,652,395 (+32%) from 2020

Expenses

Up

$12,060,711

Up $1,453,069 (+14%) from 2020

Net Income

Up

$3,051,709

Up $2,199,326 (+258%) from 2020

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2011: $10,754,964Liabilities 2011: $630,953Net Assets 2011: $10,124,0112011Assets 2012: $13,409,619Liabilities 2012: $554,938Net Assets 2012: $12,854,6812012Assets 2013: $17,111,374Liabilities 2013: $665,793Net Assets 2013: $16,445,5812013Assets 2014: $20,257,787Liabilities 2014: $804,169Net Assets 2014: $19,453,6182014Assets 2015: $21,260,700Liabilities 2015: $593,587Net Assets 2015: $20,667,1132015Assets 2016: $20,739,913Liabilities 2016: $571,208Net Assets 2016: $20,168,7052016Assets 2017: $21,322,255Liabilities 2017: $592,013Net Assets 2017: $20,730,2422017Assets 2018: $19,301,756Liabilities 2018: $584,917Net Assets 2018: $18,716,8392018Assets 2019: $20,295,426Liabilities 2019: $647,511Net Assets 2019: $19,647,9152019Assets 2020: $22,057,527Liabilities 2020: $1,557,229Net Assets 2020: $20,500,2982020Assets 2021: $25,282,806Liabilities 2021: $1,730,799Net Assets 2021: $23,552,0072021Assets 2022: $21,744,242Liabilities 2022: $971,118Net Assets 2022: $20,773,1242022Assets 2023: $23,742,418Liabilities 2023: $1,190,579Net Assets 2023: $22,551,8392023Assets 2024: $21,173,627Liabilities 2024: $1,114,982Net Assets 2024: $20,058,6452024

Highlighted filing

2021

Assets$25,282,806
Liabilities$1,730,799
Net Assets$23,552,007

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $7,838,102Expenses 2011: $6,061,962Net Income 2011: $1,776,1402011Revenue 2012: $9,338,847Expenses 2012: $6,882,362Net Income 2012: $2,456,4852012Revenue 2013: $9,874,359Expenses 2013: $7,669,343Net Income 2013: $2,205,0162013Revenue 2014: $9,979,161Expenses 2014: $7,622,922Net Income 2014: $2,356,2392014Revenue 2015: $10,715,700Expenses 2015: $9,228,535Net Income 2015: $1,487,1652015Revenue 2016: $10,287,456Expenses 2016: $11,092,665Net Income 2016: -$805,2092016Revenue 2017: $9,914,617Expenses 2017: $9,464,909Net Income 2017: $449,7082017Revenue 2018: $9,083,983Expenses 2018: $10,704,420Net Income 2018: -$1,620,4372018Revenue 2019: $12,092,850Expenses 2019: $11,161,774Net Income 2019: $931,0762019Revenue 2020: $11,460,025Expenses 2020: $10,607,642Net Income 2020: $852,3832020Revenue 2021: $15,112,420Expenses 2021: $12,060,711Net Income 2021: $3,051,7092021Revenue 2022: $10,730,866Expenses 2022: $13,509,748Net Income 2022: -$2,778,8822022Revenue 2023: $16,603,118Expenses 2023: $14,824,403Net Income 2023: $1,778,7152023Revenue 2024: $14,310,108Expenses 2024: $15,479,301Net Income 2024: -$1,169,1932024

Highlighted filing

2021

Revenue$15,112,420
Expenses$12,060,711
Net Income$3,051,709
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 24, 2022
Return Version
2021v4.0
Gross Receipts
$15,112,420
Mission and Program Overview

Mission

The mission of the north carolina eye bank inc d/b/a miracles in sight is to support the restoration, preservation, and enhancement of sight through transplant, research, education and innovation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$12,818,771$15,690,912▲ $2,872,141
Land, Buildings, and Equipment, Net$2,433,433$3,189,666▲ $756,233
Cash and Non-Interest-Bearing Accounts$2,100,828$2,239,039▲ $138,211
Intangible Assets$1,526,973$1,526,973→ $0
Accounts Receivable$1,355,147$1,141,056▼ $214,091
Savings and Temporary Cash Investments$943,600$435,695▼ $507,905
Inventories for Sale or Use$161,255$262,613▲ $101,358
Prepaid Expenses and Deferred Charges$162,106$170,751▲ $8,645
Total Assets$22,057,527$25,282,806▲ $3,225,279
Other Assets Total$555,414$626,101▲ $70,687
Liabilities
Unsecured Notes Loans Payable$1,067,352$1,057,353▼ $9,999
Accounts Payable and Accrued Expenses$489,877$673,446▲ $183,569
Total Liabilities$1,557,229$1,730,799▲ $173,570
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$20,500,298$23,552,007▲ $3,051,709
Total Net Assets Fund Balance$20,500,298$23,552,007▲ $3,051,709
Total Liabilities and Net Assets / Fund Balance$22,057,527$25,282,806▲ $3,225,279

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,639,658$3,687,431$6,327,089
Other Land Buildings$452,834$391,975$844,809
Leasehold Improvements$97,174$428,558$525,732
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dean VavraRetired PresFT$300,000$300,000
Dean VavraRetired Pres & CEO-$300,000$300,000
Ingrid SchunderPresident &FT$164,000$164,000
Ingrid SchunderPresident & CEO-$164,000$164,000
Kristen MccoyVP SurgicalFT$154,960$154,960
Kristen MccoyVP Surgical App-$154,960$154,960
TROY L WIN'EVP StrategicFT$150,000$150,000
Mike TramberVP of OperatFT$134,775$134,775
Donna MacdonaldDirector ItFT$123,600$123,600
Bobby Russ JrDirector ofFT$120,712$120,712
Susan GrunowDonor CenterFT$113,300$113,300
Jessica ParadisControllerFT$103,000$103,000

Board Members and Trustees

NameTitle
Robert Enzenauer MdChair
David Tremblay MdVice Chair/m
Andrew MeverdenTrustee/dire
Damian HorneTrustee/dire
Rachel SparksTrustee/dire
Sandy SikesTrustee/dire
W Craig Fowler JrSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$7,336
Program Service Revenue
$11,798,210
Investment Income
$1,712,606
Other Revenue
$1,594,268
All Other Contributions
$7,336
Change in Net Assets
$3,051,709

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,112,420
Total Revenue per Audited Statements
$15,112,420
Total Revenue per Form 990
$15,112,420
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,264,119
Other Expenses$5,746,592
Grants and Similar Amounts Paid$50,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,397,471$284,410-$3,681,881
Fees for Services Other$2,297,147$674-$2,297,821
Current Officers, Directors, Trustees, and Key Employees$526,635$734,712-$1,261,347
Other Employee Benefits$549,396$156,488-$705,884
Depreciation Depletion$576,645$87,717-$664,362
Information Technology$391,211$58,890-$450,101
Payroll Taxes$309,520$53,036-$362,556
Pension Plan Contributions$252,451--$252,451
Occupancy$218,457$27,303-$245,760
Travel$206,773$24,206-$230,979
Office Expenses$117,368$75,259-$192,627
Fees for Services Management$141,609$43,114-$184,723
Advertising$179,420$1,648-$181,068
All Other Expenses$82,017$80,546-$162,563
Insurance$87,933$33,988-$121,921
Other Expenses$161,131$86,684-$86,684
Fees for Services Accounting-$58,382-$58,382
Grants to Domestic Orgs$50,000--$50,000
Fees for Services Legal-$49,483-$49,483
Total Functional Expenses$10,144,482$1,916,229$0$12,060,711

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,060,711
Total Expenses per Audited Statements$12,060,711
Total Expenses per Form 990$12,060,711
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Musc FoundationCharleston, SC501c3Storm Eye Fellow$50,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The director of finance and administration and executive director of the organization review the form 990 then it is sent electronically to the board audit committee chair and finance committee for final review and approval

Form 990, Page 6, Part VI, Line 12C

The board directs the organization's administrative office to compile any potential conflicts of interest through inquiry of applicable parties. The compiled reports, if any, are reviewed by the board chair at least annually.

Form 990, Page 6, Part VI, Line 15A

The board reviews the compensation of the executive director. A third party review with comparability data and contemporaneous substantiation was performed and provided to the personnel committee of the board of directors in 2015 and 2018.

Form 990, Page 6, Part VI, Line 15B

The executive director reviews and approves the compensation of all other key employees of the organization.

Form 990, Page 6, Part VI, Line 19

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

Filing and Contact Details

Filer

Filer Name
Miracles in Sight
EIN
56-0628753
Phone
3367650932
Address
3900 WESTPOINT BOULEVARD SUITE F, WINSTON SALEM, NC 27103-3903

Signing Officer

Name
Ingrid Schunder
Title
President & CEO
Phone
3397650932
Signed
2022-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ingrid Schunder
Formed
1951
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
124

Preparer

Firm
Gray Callison & Jones CPA Pc
Address
3813 FORRESTGATE DR, WINSTON SALEM, NC 27103
Preparer
Ernest V Logemann
Phone
3367603210
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

471,926 quality systems & regulatory affairs - is responsible for the formulation and implementation of policies and procedures related to donor screening, tissue recovery, tissue preservation and suitability of tissue for use. They oversee staff training and competency testing, compliance with industry medical standards and applicable state or federal regulations. --- 1,038,036 business development - pursues and maintains current knowledge regarding ophthalmological surgical trends and emerging techniques and cultivates and strengthens relationships with surgeons and other pertinent professionals by providing ongoing education, customized support, and timely communication. Promotes mis core and speciality services and works in conjunction with clinical services to optimize distribution outlets as identified in the mis strategic plan. --- --- research and development - performs investigative activities to improve mis existing products, processes and services. Support the organization's growth by vetting and managing the development of new products and services used in the ophthalmologic industry. --- 953,466 professional development - provides professional and public information, education, and training including funding to other nonprofits to further promote and achieve these activities. This program works closely with hospitals, hospice, and funeral homes to ensure the donor and family wishes for donation are achieved. They participate in and support donate life north carolina, which is the public education group for the state. --- 29,617 triad cornea community - supports triad cornea community which links nonprofit, ebaa accredited members and fda registered eye banks with surgeons and patients to provide a mechanism for corneal tissue reimbursement; partnering with several insurance carriers who have created supplemental vision insurance plans. These plans include full coverage of the preparation and processing costs of the cornea, one additional post- operative exam and one additional post-operative lens benefit. --- 10,641 hospice

Form 990, Part IX, Line 11G

Recovery and processing 2,297,147 674 0

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IRS990/Form990PartVIISectionAGrp/TitleTxt0RETIRED PRES
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT &
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IRS990/Form990PartVIISectionAGrp/TitleTxt3VP STRATEGIC
IRS990/Form990PartVIISectionAGrp/TitleTxt4VP OF OPERAT
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR IT
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR OF
IRS990/Form990PartVIISectionAGrp/TitleTxt7DONOR CENTER
IRS990/Form990PartVIISectionAGrp/TitleTxt8CONTROLLER
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IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY/TR
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IRS990/Form990PartVIISectionAGrp/TitleTxt12CHAIR
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IRS990/MissionDesc0THE MISSION OF THE NORTH CAROLINA EYE BANK INC D/B/A MIRACLES IN SIGHT IS TO SUPPORT THE RESTORATION, PRESERVATION, AND ENHANCEMENT OF SIGHT THROUGH TRANSPLANT, RESEARCH, EDUCATION AND INNOVATION.
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IRS990/ProgSrvcAccomActy3Grp/Desc0DONOR CENTER - RECEIVES DONOR REFERRALS AND THEN INITIATES THE SCREENING, DISCLOSURE, AUTHORIZATION AND RECOVERY PROCESS. THEY WORK WITH THE DONOR'S FAMILY TO ENSURE SAFE TISSUE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01774757
IRS990/ProgSrvcAccomActyOtherGrp/Desc0471,926 QUALITY SYSTEMS & REGULATORY AFFAIRS - IS RESPONSIBLE FOR THE FORMULATION AND IMPLEMENTATION OF POLICIES AND PROCEDURES RELATED TO DONOR SCREENING, TISSUE RECOVERY, TISSUE PRESERVATION AND SUITABILITY OF TISSUE FOR USE. THEY OVERSEE STAFF TRAINING AND COMPETENCY TESTING, COMPLIANCE WITH INDUSTRY MEDICAL STANDARDS AND APPLICABLE STATE OR FEDERAL REGULATIONS. --- 1,038,036 BUSINESS DEVELOPMENT - PURSUES AND MAINTAINS CURRENT KNOWLEDGE REGARDING OPHTHALMOLOGICAL SURGICAL TRENDS AND EMERGING TECHNIQUES AND CULTIVATES AND STRENGTHENS RELATIONSHIPS WITH SURGEONS AND OTHER PERTINENT PROFESSIONALS BY PROVIDING ONGOING EDUCATION, CUSTOMIZED SUPPORT, AND TIMELY COMMUNICATION. PROMOTES MIS CORE AND SPECIALITY SERVICES AND WORKS IN CONJUNCTION WITH CLINICAL SERVICES TO OPTIMIZE DISTRIBUTION OUTLETS AS IDENTIFIED IN THE MIS STRATEGIC PLAN. --- --- RESEARCH AND DEVELOPMENT - PERFORMS INVESTIGATIVE ACTIVITIES TO IMPROVE MIS EXISTING PRODUCTS, PROCESSES AND SERVICES. SUPPORT THE ORGANIZATION'S GROWTH BY VETTING AND MANAGING THE DEVELOPMENT OF NEW PRODUCTS AND SERVICES USED IN THE OPHTHALMOLOGIC INDUSTRY. --- 953,466 PROFESSIONAL DEVELOPMENT - PROVIDES PROFESSIONAL AND PUBLIC INFORMATION, EDUCATION, AND TRAINING INCLUDING FUNDING TO OTHER NONPROFITS TO FURTHER PROMOTE AND ACHIEVE THESE ACTIVITIES. THIS PROGRAM WORKS CLOSELY WITH HOSPITALS, HOSPICE, AND FUNERAL HOMES TO ENSURE THE DONOR AND FAMILY WISHES FOR DONATION ARE ACHIEVED. THEY PARTICIPATE IN AND SUPPORT DONATE LIFE NORTH CAROLINA, WHICH IS THE PUBLIC EDUCATION GROUP FOR THE STATE. --- 29,617 TRIAD CORNEA COMMUNITY - SUPPORTS TRIAD CORNEA COMMUNITY WHICH LINKS NONPROFIT, EBAA ACCREDITED MEMBERS AND FDA REGISTERED EYE BANKS WITH SURGEONS AND PATIENTS TO PROVIDE A MECHANISM FOR CORNEAL TISSUE REIMBURSEMENT; PARTNERING WITH SEVERAL INSURANCE CARRIERS WHO HAVE CREATED SUPPLEMENTAL VISION INSURANCE PLANS. THESE PLANS INCLUDE FULL COVERAGE OF THE PREPARATION AND PROCESSING COSTS OF THE CORNEA, ONE ADDITIONAL POST- OPERATIVE EXAM AND ONE ADDITIONAL POST-OPERATIVE LENS BENEFIT. --- 10,641 HOSPICE
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt02503686
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$21.2$1.11$20.1$14.3$15.5$1.17
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.7$1.19$22.6$16.6$14.8$1.78
2022Detailed filing. Detailed filing data is available for this year.$21.7$0.97$20.8$10.7$13.5$2.78
2021Detailed filing. Detailed filing data is available for this year.$25.3$1.73$23.6$15.1$12.1$3.05
2020Detailed filing. Detailed filing data is available for this year.$22.1$1.56$20.5$11.5$10.6$0.85
2019Detailed filing. Detailed filing data is available for this year.$20.3$0.65$19.6$12.1$11.2$0.93
2018Detailed filing. Detailed filing data is available for this year.$19.3$0.58$18.7$9.08$10.7$1.62
2017Detailed filing. Detailed filing data is available for this year.$21.3$0.59$20.7$9.91$9.46$0.45
2016Detailed filing. Detailed filing data is available for this year.$20.7$0.57$20.2$10.3$11.1$0.81
2015Detailed filing. Detailed filing data is available for this year.$21.3$0.59$20.7$10.7$9.23$1.49
2014Summary only. Only limited summary data is available for this year.$20.3$0.80$19.5$9.98$7.62$2.36
2013Summary only. Only limited summary data is available for this year.$17.1$0.67$16.4$9.87$7.67$2.21
2012Summary only. Only limited summary data is available for this year.$13.4$0.55$12.9$9.34$6.88$2.46
2011Summary only. Only limited summary data is available for this year.$10.8$0.63$10.1$7.84$6.06$1.78