Civic Intelligence

Foundation for Vision Research

990 • Fiscal year 2020 • EIN 81-5141432

Nov 01, 2019 to Oct 31, 2020 • Filed on Aug 20, 2021

5030 Cascade Road SEGrand Rapids, MI 49546-3725

(616) 954-2020

Siviq Scores

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

Liabilities / Assets

37th percentile

0.01x

Higher debt load relative to assets than 37% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

34th percentile

0.01x

Higher debt load relative to revenue than 34% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

84th percentile

37%

Higher net margin than 84% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

99th percentile

$545,786

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 104.7% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

86th percentile

69%

Faster asset growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

73rd percentile

19%

Faster revenue growth than 73% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$475,258

Up $194,495 (+69%) from 2019

Net Assets

Up

$471,719

Up $195,113 (+71%) from 2019

Liabilities

Down

$3,539

Down $618 (-15%) from 2019

Revenue

Up

$521,513

Up $82,962 (+19%) from 2019

Expenses

Down

$326,400

Down $1,477 (-0.5%) from 2019

Net Income

Up

$195,113

Up $84,439 (+76%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2018: $180,309Liabilities 2018: $14,377Net Assets 2018: $165,9322018Assets 2019: $280,763Liabilities 2019: $4,157Net Assets 2019: $276,6062019Assets 2020: $475,258Liabilities 2020: $3,539Net Assets 2020: $471,7192020Assets 2021: $707,100Liabilities 2021: $2,067Net Assets 2021: $705,0332021Assets 2022: $1,019,038Liabilities 2022: $2,466Net Assets 2022: $1,016,5722022

Highlighted filing

2020

Assets$475,258
Liabilities$3,539
Net Assets$471,719

Operations Trend

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

$800K$600K$400K$200K$0Revenue 2018: $220,377Expenses 2018: $54,445Net Income 2018: $165,9322018Revenue 2019: $438,551Expenses 2019: $327,877Net Income 2019: $110,6742019Revenue 2020: $521,513Expenses 2020: $326,400Net Income 2020: $195,1132020Revenue 2021: $637,216Expenses 2021: $403,902Net Income 2021: $233,3142021Revenue 2022: $734,403Expenses 2022: $422,864Net Income 2022: $311,5392022

Highlighted filing

2020

Revenue$521,513
Expenses$326,400
Net Income$195,113
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Aug 20, 2021
Return Version
2019v5.0
Gross Receipts
$521,513
Mission and Program Overview

Mission

To fund research devoted to the vision sciences including investigation for better understanding of the causes of vision loss. To conduct research to further understand vision loss and develop treatments to address those conditions. To receive and administer funds and assets for charitable, educational and scientific purposes as set forth in section 501(c)(3) of the internal revenue code of 1986, as amended (the "code"), or any corresponding provision of any subsequent federal tax laws, including the making of distributions to organizations that qualify as exempt organizations under code section 501(c)(3). To conduct educational events directed to health care professionals and the public to bring attention to vision threatening eye diseases and provide information as to potential preventative measures.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$142,869$305,648▲ $162,779
Accounts Receivable$85,384$105,810▲ $20,426
Land, Buildings, and Equipment, Net$49,410$45,369▼ $4,041
Prepaid Expenses and Deferred Charges$3,100--
Total Assets$280,763$475,258▲ $194,495
Other Assets Total-$18,431-
Liabilities
Accounts Payable and Accrued Expenses$4,157$3,539▼ $618
Total Liabilities$4,157$3,539▼ $618
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$276,606$471,719▲ $195,113
Total Net Assets Fund Balance$276,606$471,719▲ $195,113
Total Liabilities and Net Assets / Fund Balance$280,763$475,258▲ $194,495

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$45,369$10,800$56,169
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$11,758
Program Service Revenue
$469,658
Investment Income
$1,197
Other Revenue
$38,900
All Other Contributions
$11,758
Change in Net Assets
$195,113
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$211,998
Other Expenses$114,402
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$181,911--$181,911
Fees for Services Other$77,448--$77,448
Insurance$12,758$3,906-$16,664
Payroll Taxes$15,862--$15,862
Other Employee Benefits$14,225--$14,225
Fees for Services Accounting-$5,752-$5,752
Depreciation Depletion$5,579--$5,579
Office Expenses$3,898--$3,898
Conferences and Meetings$3,849--$3,849
Advertising$1,212--$1,212
Total Functional Expenses$316,742$9,658$0$326,400
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
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 2

Retina specialists of michigan pc mimbm llc owner owner retina specialists of michigan pc mimbm llc owner owner retina specialists of michigan pc mimbm llc owner owner retina specialists of michigan pc mimbm llc owner owner

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

Form 990 is delivered to each board member for review. At board meeting subsequent to delivery of form 990, the board discusses form 990: if in agreement approves, if not then questions or concerns are resolved.

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

The annual disclosure statements shall be reviewed, reported on and acted upon as set forth in the general policy statement, including, but not limited to, reviewing, reporting, and acting upon all potential conflicts of interest brought to the attention of the corporation by the disclosure statements or otherwise. Failure to comply with the general policy statement shall be grounds for termination of all relationships with the corporation including, but not limited to, termination as a member of any board of directors, as well as termination of all officer, committee member, employee or agency relationships which the person has with the corporation or other entity related to the corporation.

Form 990, Page 6, Part VI, Line 19

The foundation's governing documents, financial statements and conflict of interest policy are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Foundation for Vision Research
EIN
81-5141432
Phone
6169542020
Address
5030 CASCADE ROAD SE, GRAND RAPIDS, MI 49546-3725

Signing Officer

Name
Dr Thomas Aaberg Jr
Title
President
Phone
6169542020
Signed
2021-08-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Thomas Aaberg Jr
Formed
2016
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
2
Employees
4

Preparer

Firm
Pennell CPA Plc
Address
5005 CASCADE RD SE STE A, GRAND RAPIDS, MI 49546
Preparer
Fred a Pennell CPA
Phone
6162857050
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To fund research devoted to the vision sciences including investigation for better understanding of the causes of vision loss. To conduct research to further understand vision loss and develop treatments to address those conditions. To receive and administer funds and assets for charitable, educational and scientific purposes as set forth in section 501(c)(3) of the internal revenue code of 1986, as amended (the "code"), or any corresponding provision of any subsequent federal tax laws, including the making of distributions to organizations that qualify as exempt organizations under code section 501(c)(3). To conduct educational events directed to health care professionals and the public to bring attention to vision threatening eye diseases and provide information as to potential preventative measures.

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

In furtherence of its exempt purpose the foundation continues vision research to better understand the causes of vision loss and to develop treatments to address those conditions.

Form 990, Part IX, Line 11G

Bank service charges 68 0 0 business licenses and permits 20 0 0 medical supplies 3,061 0 0 office supplies 4,564 0 0 rent 51,560 0 0 seminar expense 3,019 0 0 study expense 15,156 0 0 total 77,448 0 0

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DR SCOTT WESTHOUSE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1DR NATHAN PEZDA
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2DR THOMAS AABERG JR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3DR LILIYA SUTHERLAND
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3SECRETARY
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO FUND RESEARCH DEVOTED TO THE VISION SCIENCES INCLUDING INVESTIGATION FOR BETTER UNDERSTANDING OF THE CAUSES OF VISION LOSS. TO CONDUCT RESEARCH TO FURTHER UNDERSTAND VISION LOSS AND DEVELOP TREATMENTS TO ADDRESS THOSE CONDITIONS. TO RECEIVE AND ADMINISTER FUNDS AND ASSETS FOR CHARITABLE, EDUCATIONAL AND SCIENTIFIC PURPOSES AS SET FORTH IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), OR ANY CORRESPONDING PROVISION OF ANY SUBSEQUENT FEDERAL TAX LAWS, INCLUDING THE MAKING OF DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER CODE SECTION 501(C)(3). TO CONDUCT EDUCATIONAL EVENTS DIRECTED TO HEALTH CARE PROFESSIONALS AND THE PUBLIC TO BRING ATTENTION TO VISION THREATENING EYE DISEASES AND PROVIDE INFORMATION AS TO POTENTIAL PREVENTATIVE MEASURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN FURTHERENCE OF ITS EXEMPT PURPOSE THE FOUNDATION CONTINUES VISION RESEARCH TO BETTER UNDERSTAND THE CAUSES OF VISION LOSS AND TO DEVELOP TREATMENTS TO ADDRESS THOSE CONDITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2RETINA SPECIALISTS OF MICHIGAN PC MIMBM LLC OWNER OWNER RETINA SPECIALISTS OF MICHIGAN PC MIMBM LLC OWNER OWNER RETINA SPECIALISTS OF MICHIGAN PC MIMBM LLC OWNER OWNER RETINA SPECIALISTS OF MICHIGAN PC MIMBM LLC OWNER OWNER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS DELIVERED TO EACH BOARD MEMBER FOR REVIEW. AT BOARD MEETING SUBSEQUENT TO DELIVERY OF FORM 990, THE BOARD DISCUSSES FORM 990: IF IN AGREEMENT APPROVES, IF NOT THEN QUESTIONS OR CONCERNS ARE RESOLVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ANNUAL DISCLOSURE STATEMENTS SHALL BE REVIEWED, REPORTED ON AND ACTED UPON AS SET FORTH IN THE GENERAL POLICY STATEMENT, INCLUDING, BUT NOT LIMITED TO, REVIEWING, REPORTING, AND ACTING UPON ALL POTENTIAL CONFLICTS OF INTEREST BROUGHT TO THE ATTENTION OF THE CORPORATION BY THE DISCLOSURE STATEMENTS OR OTHERWISE. FAILURE TO COMPLY WITH THE GENERAL POLICY STATEMENT SHALL BE GROUNDS FOR TERMINATION OF ALL RELATIONSHIPS WITH THE CORPORATION INCLUDING, BUT NOT LIMITED TO, TERMINATION AS A MEMBER OF ANY BOARD OF DIRECTORS, AS WELL AS TERMINATION OF ALL OFFICER, COMMITTEE MEMBER, EMPLOYEE OR AGENCY RELATIONSHIPS WHICH THE PERSON HAS WITH THE CORPORATION OR OTHER ENTITY RELATED TO THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FOUNDATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BANK SERVICE CHARGES 68 0 0 BUSINESS LICENSES AND PERMITS 20 0 0 MEDICAL SUPPLIES 3,061 0 0 OFFICE SUPPLIES 4,564 0 0 RENT 51,560 0 0 SEMINAR EXPENSE 3,019 0 0 STUDY EXPENSE 15,156 0 0 TOTAL 77,448 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0RETINA SPECIALISTS OF MICHIGAN PC
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DR THOMAS AABERG JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06169542020
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR VISION RESEARCH
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ReturnHeader/Filer/PhoneNum06169542020

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