Chattanooga Ophthalmological Foundation
- Assets
- $3.5m
- Revenue
- $201.4k
- Investments
- $3.4m
- Employees
- 0
- Location
- Chattanooga, TN
- Founding
- 11/1969
- Data as of
- 12/2023
- EIN
- 23-7038515
Organization Overview
Chattanooga Ophthalmological Foundation is located in Chattanooga, TN. The organization was established in 1969. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chattanooga Ophthalmological Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Chattanooga Ophthalmological Foundation generated $201.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.4%) each year. All expenses for the organization totaled $337.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Chattanooga Ophthalmological Foundation has awarded 29 individual grants totaling $1,475,580. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Steve M Thomas Director | 0.25 | $0 | |
Molly R Seal MD Former President | 1 | $12,000 | |
James L Catanzaro Secretary/treasurer | 1 | $0 | |
Charles A Kirby MD Director | 0.25 | $0 | |
Richard I Breazeale MD Director | 0.25 | $0 | |
Patrick J Bowers Jr MD Director | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $119 |
| Dividends & Interest | $69,459 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $135,855 |
| Capital Gain Net Income | $135,855 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$4,082 |
| Total Revenue | $201,351 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,745 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $61,023 |
| Total operating and administrative expenses | $113,856 |
| Contributions, gifts, grants paid | $223,582 |
| Total expenses and disbursements | $337,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,400 |
| Savings and temporary cash investments | $117,016 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,534,990 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Chattanooga Ophthalmological Foundation has awarded $223,582 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
LIFESPRING COMMUNITY HEALTH PURPOSE: INDIGENT MEDICAL CARE | $6,000 |
ERLANGER HEALTH SYSTEM PURPOSE: PURCHASE OF MEDICAL EQUIPMENT | $6,582 |
MEDICAL SOCIETY OF CHATTANOOGA PURPOSE: INDIGENT MEDICAL CARE | $40,000 |
VOLUNTEERS IN MEDICINE PURPOSE: INDIGENT MEDICAL CARE | $35,000 |
SIGNAL CENTERS INC PURPOSE: VISION SERVICES | $130,000 |
REMOTE AREA MEDICAL PURPOSE: FOOD, LODGING & SUPPLIES FOR VOLUNTEERS | $6,000 |