Association Of Schools And Colleges Of Optometry Inc
- Assets
- $11.6m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Rockville, MD
- Founding
- 01/1975
- Data as of
- 06/2022
- EIN
- 52-1005768
Organization Overview
Association Of Schools And Colleges Of Optometry Inc is located in Rockville, MD. The organization was established in 1975. As of 06/2022, Association Of Schools And Colleges Of Optometry Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Schools And Colleges Of Optometry Inc 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 06/2022, Association Of Schools And Colleges Of Optometry Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $3.1m during the year ending 06/2022. While expenses have increased by 6.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Association Of Schools And Colleges Of Optometry Inc has awarded 59 individual grants totaling $914,543. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
APPLICANT DEVELOPMENT: PROMOTED THE FIELD OF OPTOMETRY TO A DIVERSIFIED AND QUALIFIED GROUP OF HIGH SCHOOL AND COLLEGE STUDENTS VIA BROCHURES, INFORMATIONAL MATERIALS, DATA, WEBSITE, AND SOCIAL MEDIA.
FACULTY DEVELOPMENT: ASCO HOLDS SPECIAL INTEREST GROUP MEETINGS WHERE FACULTY CAN SHARE DEVELOPMENTS IN THEIR PARTICULAR FIELDS OF INTEREST AND DEVELOP POLICY RECOMMENDATIONS THAT SUPPORT A HIGH QUALITY OF OPTOMETRIC EDUCATION.
BOARD ACTIVITIES: BOARD ACTIVITIES INCLUDE THOSE ASSOCIATED WITH GOVERNING THE ASSOCIATION, INCLUDING EXPENSES ASSOCIATED WITH HOLDING MEETINGS OF THE BOARD OF DIRECTORS AND THE ANNUAL MEETING; NOMINATING OFFICERS; ORIENTING AND TRAINING NEW BOARD MEMBERS AND OFFICERS; AND STRATEGIC PLANNING ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Nichols President | OfficerTrustee | 10 | $0 |
Melissa Trego President-Elect | OfficerTrustee | 5 | $0 |
Mark Colip Treasurer | OfficerTrustee | 5 | $0 |
Michael Bacigalupi Secretary | OfficerTrustee | 5 | $0 |
John Flanagan Immediate Past-President | OfficerTrustee | 5 | $0 |
Jennifer Coyle At Large Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $167,860 |
| All other contributions, gifts, grants, and similar amounts not included above | $488,582 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $656,442 |
| Total Program Service Revenue | $2,148,653 |
| Investment income | $394,714 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $281,006 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,481,660 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $188,355 |
| 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. | $320,226 |
| Compensation of current officers, directors, key employees. | $92,865 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $618,127 |
| Pension plan accruals and contributions | $55,781 |
| Other employee benefits | $78,170 |
| Payroll taxes | $61,707 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,328 |
| Fees for services: Accounting | $104,658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,788 |
| Fees for services: Other | $573,667 |
| Advertising and promotion | $645,844 |
| Office expenses | $24,101 |
| Information technology | $70,921 |
| Royalties | $0 |
| Occupancy | $84,064 |
| Travel | $42,370 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,212 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,229 |
| Insurance | $11,809 |
| All other expenses | $1,778 |
| Total functional expenses | $3,103,242 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,714,872 |
| Pledges and grants receivable | $12,500 |
| Accounts receivable, net | $62,833 |
| 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 | $107,089 |
| Net Land, buildings, and equipment | $17,740 |
| Investments—publicly traded securities | $8,505,628 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $2,970 |
| Other assets | $197,511 |
| Total assets | $11,621,143 |
| Accounts payable and accrued expenses | $210,650 |
| Grants payable | $0 |
| Deferred revenue | $1,528,613 |
| 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 | $218,819 |
| Total liabilities | $1,958,082 |
| Net assets without donor restrictions | $4,924,309 |
| Net assets with donor restrictions | $4,738,752 |
| 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 | $11,621,143 |
Grants Awarded
Over the last fiscal year, Association Of Schools And Colleges Of Optometry Inc has awarded $173,679 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF HOUSTON COLLEGE OF OPTOMETRY PURPOSE: TO FURTHER OPTOMETRIC EDUCATION | $31,438 |
ILLINOIS COLLEGE OF OPTOMETRY PURPOSE: TO FURTHER OPTOMETRIC EDUCATION | $10,694 |
INDIANA UNIVERSITY SCHOOL OF OPTOMETRY PURPOSE: TO FURTHER OPTOMETRIC EDUCATION | $8,331 |
NOVA SOUTHEASTERN UNIVERSITY COLLEGE OF OPTOMETRY PURPOSE: TO FURTHER OPTOMETRIC EDUCATION | $9,264 |
PACIFIC UNIVERSITY COLLEGE OF OPTOMETRY PURPOSE: TO FURTHER OPTOMETRIC EDUCATION | $12,768 |
SALUS UNIVERSITY - PENNSYLVANIA COLLEGE OF OPTOMETRY PURPOSE: TO FURTHER OPTOMETRIC EDUCATION | $32,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Schools And Colleges Of Optometry Inc Rockville, MD | $11,621,143 | $3,481,660 |
American Foundation For Pharmaceutical Education Fairfax, VA | $10,710,645 | $580,057 |
Philadelphia School Of Psychoanalysis Philadelphia, PA | $425,793 | $803,466 |
Accrediting Council On Education In Journalism & Mass Communications College Park, MD | $385,359 | $307,475 |
Washington School Of Psychiatry Washington, DC | $0 | $402,214 |