Southern College Of Optometry
- Assets
- $90.1m
- Revenue
- $28.6m
- Investments
- $0.0
- Employees
- 362
- Location
- Memphis, TN
- Founding
- 03/1942
- Data as of
- 06/2022
- EIN
- 62-0548917
Organization Overview
Southern College Of Optometry is located in Memphis, TN. The organization was established in 1942. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2022, Southern College Of Optometry employed 362 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern College Of Optometry 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, Southern College Of Optometry generated $28.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $31.4m during the year ending 06/2022. While expenses have increased by 2.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES A SCHOOL OF OPTOMETRY AND CLINIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL OF OPTOMETRY, CLINIC, EDUCATIONAL PROCESS AND STUDENT TRAINING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Lewis Reich President | Officer | 40 | $359,927 |
Dr John B Campbell V.P. Academic Affairs | Officer | 40 | $209,213 |
David L West V.P. Finance & Admin | 40 | $205,221 | |
James E Venable V.P. Clinical Operations | 40 | $198,083 | |
Joe Hauser V.P. Student Services | 40 | $181,165 | |
Daniel Fuller Faculty | 40 | $178,198 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tiger Sports Properties Sponsorship | 6/29/20 | $120,816 |
Imperial Security Service Inc Security Services | 6/29/20 | $263,270 |
Grinder Taber Grinder Repairs | 6/29/20 | $158,445 |
John J Campbell Co Inc Repairs | 6/29/20 | $133,397 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $275,460 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,064,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,339,792 |
| Total Program Service Revenue | $26,127,595 |
| Investment income | $797,018 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $263,639 |
| Net Gain/Loss on Asset Sales | -$2,919 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $73,676 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,598,801 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $569,140 |
| Compensation of current officers, directors, key employees. | $305,602 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,752,246 |
| Pension plan accruals and contributions | $4,711,233 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $131,598 |
| Fees for services: Accounting | $59,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $720,099 |
| Advertising and promotion | $445,993 |
| Office expenses | $955,432 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $174,929 |
| Travel | $332,656 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,688 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,472,868 |
| Insurance | $501,209 |
| All other expenses | $1,169,549 |
| Total functional expenses | $31,397,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,741,403 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $334,381 |
| Accounts receivable, net | $532,178 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,742,101 |
| Inventories for sale or use | $478,655 |
| Prepaid expenses and deferred charges | $277,131 |
| Net Land, buildings, and equipment | $21,398,061 |
| Investments—publicly traded securities | $51,597,173 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $90,101,083 |
| Accounts payable and accrued expenses | $3,104,940 |
| Grants payable | $0 |
| Deferred revenue | $1,420,693 |
| 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 | $11,012,613 |
| Total liabilities | $15,538,246 |
| Net assets without donor restrictions | $55,588,589 |
| Net assets with donor restrictions | $18,974,248 |
| 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 | $90,101,083 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Southern College Of Optometry has recieved totaling $432,019.
| Awarding Organization | Amount |
|---|---|
Dr Robert L Henry O D Class Of 35 Pco Scholarship Fund Las Vegas, NV PURPOSE: GENERAL OPERATING | $418,016 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $7,000 |
Bane Foundation Salem, VA PURPOSE: DONATION | $6,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $1,003 |
Endowment Analysis
| Beg. Balance | $42,463,686 |
| Earnings | -$6,587,064 |
| Net Contributions | $3,555,284 |
| Grants | $2,546,869 |
| Ending Balance | $36,885,037 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kansas City University Kansas City, MO | $396,275,959 | $114,344,236 |
Augusta University Research Institute Inc Augusta, GA | $21,382,894 | $80,266,513 |
University Of Health Sciences And Pharmacy In St Louis Saint Louis, MO | $314,379,266 | $75,273,875 |
Wake Forest University Health Sciences Group Return Winstonsalem, NC | $294,523,544 | $56,430,791 |
Asbury Theological Seminary Wilmore, KY | $333,796,449 | $52,800,131 |
Logan University Chesterfield, MO | $101,664,851 | $38,500,877 |
Southern College Of Optometry Memphis, TN | $90,101,083 | $28,598,801 |
Johnson University Knoxville, TN | $236,951,483 | $27,596,664 |
Reformed Theological Seminary Jackson, MS | $124,776,543 | $29,054,898 |
Baptist Memorial College Of Health Sciences Inc Memphis, TN | $55,747,053 | $20,446,298 |
Interdenominational Theological Center Inc Atlanta, GA | $16,432,791 | $10,752,474 |
Middle Tennessee School Of Anesthesia Inc Madison, TN | $22,533,334 | $7,937,391 |