Phillips Eye Institute Foundation
- Assets
- $0.0
- Revenue
- $575.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 11/1987
- Data as of
- 12/2019
- EIN
- 41-1613017
Organization Overview
Phillips Eye Institute Foundation is located in Minneapolis, MN. The organization was established in 1987. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. Phillips Eye Institute 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 12/2019, Phillips Eye Institute Foundation generated $575.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (17.1%) each year. All expenses for the organization totaled $872.2k during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Phillips Eye Institute Foundation has awarded 35 individual grants totaling $4,142,881. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.WHAT WE DO:1. PROVIDE FREE ACCESS TO SUPERB MEDICAL CARE THROUGH TRANSPORTATION SERVICES FOR OUR PATIENTS.2. CONDUCT FREE ANNUAL VISION SCREENING FOR NEARLY 30,000 PUBLIC SCHOOL CHILDREN AND FUND AND COORDINATE FOLLOW-UP TREATMENT FOR CHILDREN WHO ARE UNINSURED OR UNDERINSURED.3. PURCHASE CUTTING-EDGE TECHNOLOGY, WHICH ALLOWS PHYSICIANS TO BETTER DIAGNOSE AND TREAT OUR PATIENTS.4. FUND ACCESS TO LASER VISION CORRECTION SURGERY FOR TROOPS DEPLOYEDWHO WE DO IT FOR:THE WORK OF PHILLIPS EYE INSTITUTE, THE UPPER MIDWEST'S ONLY EYE HOSPITAL, IS SO VITAL TO OUR REGION. WE INTEGRATE THE LATEST DIAGNOSTIC TREATMENT AND SURGICAL TECHNOLOGIES WITH A STAFF DEDICATED SOLELY TO OPHTHALMIC CARE, THE EXPERTISE OF AFFILIATED OPHTHALMOLOGISTS, REFERRING PHYSICIANS AND OTHER EYE CARE PROFESSIONALS. THIS UNIQUE COLLABORATION ENSURES THAT PATIENTS RECEIVE THE LATEST IN ADVANCED EYE CARE-ALL WITHIN A SINGLE HOSPITAL DEDICATED TO PRESERVING, PROTECTING AND RESTORING VISION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EARLY YOUTH EYECARE (EYE) COMMUNITY INITIATIVETHE EARLY YOUTH EYECARE (E.Y.E.) COMMUNITY INITIATIVE PROVIDES REGULAR VISION SCREENINGS AND FOLLOW-UP TREATMENT SERVICES TO MINNEAPOLIS AND ST. PAUL PUBLIC SCHOOL CHILDREN. MANY OF THESE CHILDREN ARE NOT INSURED OR UNDERINSURED AND THIS IS THEIR ONLY ACCESS TO VISION CARE. APPROXIMATELY 80% OF CHILDHOOD LEARNING IS VISUALLY BASED AND ACADEMIC SUCCESS IS GREATLY INFLUENCED BY THEIR ABILITY TO SEE.THIS PROGRAM WILL CONTINUE IN THE SUCCESSOR ORGANIZATION ABBOTT NORTHWESTERN HOSPITAL FOUNDATION.
PATIENT TRANSPORTATION SERVICESARRANGING TRANSPORTATION FOR EYE SURGERIES IS OFTEN PROBLEMATIC AND STRESSFUL FOR PATIENTS. OUR TRANSPORTATION SERVICES PROVIDE COMPLIMENTARY RIDES TO AND FROM PHILLIPS EYE INSTITUTE FOR SURGERY AND OTHER SERVICES. IN 2019, 2,585 PATIENTS TOOK ADVANTAGE OF OUR TRANSPORTATION SERVICES, TRAVELING 100,361 MILES.THIS PROGRAM WILL CONTINUE IN THE SUCCESSOR ORGANIZATION ABBOTT NORTHWESTERN HOSPITAL FOUNDATION.
OTHER PROGRAM SERVICES INCLUDE EMPLOYEE PROFESSIONAL DEVELOPMENT, SIGHT FOR SOLDIERS, AND A RETINAL DETACHMENT STUDY.THIS PROGRAM WILL CONTINUE IN THE SUCCESSOR ORGANIZATION ABBOTT NORTHWESTERN HOSPITAL FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laureen Hennen Exec. Dir. Pei Foundation | Officer | 40 | $0 |
Richard Magnuson CFO | Officer | 2 | $0 |
Daniel Conrad Director/pres. Pei | Trustee | 2 | $0 |
Elizabeth Nelson Director | Trustee | 2 | $0 |
Robert Warashawsky MD Director | Trustee | 2 | $0 |
Josh Deboer Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $87,666 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $286,781 |
| Noncash contributions included in lines 1a–1f | $158,104 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $374,447 |
| Total Program Service Revenue | $0 |
| Investment income | $123,160 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $77,517 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $575,124 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $784,720 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,380 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $472 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $976 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117 |
| Insurance | $0 |
| All other expenses | $16,256 |
| Total functional expenses | $872,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, Phillips Eye Institute Foundation has awarded $783,064 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: TRANSPORTATION SERVICES | $250,000 |
Minneapolis, MN PURPOSE: EARLY YOUTH EYECARE (EYE) COMMUNITY INITIATIVE | $246,603 |
Minneapolis, MN PURPOSE: PROVIDE EYE GLASS FRAMES, LENSES. | $156,464 |
Minneapolis, MN PURPOSE: PROVIDE THE TREATMENT COMPONENT OF THE EYE PROGRAM (OFFICE VISITS AND GLASSES). | $106,147 |
Minneapolis, MN PURPOSE: LOW VISION EQUIPMENT AND RETINA RESEARCH | $13,850 |
Minneapolis, MN PURPOSE: PROVIDE SUPPORT FOR SIGHT FOR SOLDIERS PROJECT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Phillips Eye Institute Foundation has recieved totaling $181,574.
| Awarding Organization | Amount |
|---|---|
Allina Health System Minneapolis, MN PURPOSE: EYE COMMUNITY INITIATIVE | $161,574 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $20,000 |
Endowment Analysis
| Beg. Balance | $1,135,962 |
| Earnings | $101,695 |
| Net Contributions | $1,753 |
| Grants | -$1,656 |
| Ending Balance | $1,237,754 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Usona Institute Inc Madison, WI | $38,737,266 | $18,840,870 |
Advanced Textiles Association Roseville, MN | $7,913,490 | $8,259,339 |
Center For Veterans Research And Education Minneapolis, MN | $6,193,088 | $7,313,382 |
Harvey W Peters Research Foundation Sioux Falls, SD | $130,706,719 | $7,428,166 |
Well Resource Center Pella, IA | $3,360,975 | $3,363,505 |
National Ataxia Foundation Inc Minneapolis, MN | $4,406,293 | $2,867,520 |
Institute For Clinical Systems Improvement Bloomington, MN | $1,590,547 | $1,571,505 |
Ecdysis Foundation Estelline, SD | $588,138 | $1,280,111 |
Phillips Eye Institute Foundation Minneapolis, MN | $0 | $575,124 |
Glendalough Of Austin Inc Faribault, MN | $425,752 | $674,749 |
Isthmus Project Inc Madison, WI | $211,733 | $0 |
John Paul Ii Medical Research Institute Coralville, IA | $513,407 | $776,190 |