Texas Optometric Association Inc
- Assets
- $6.6m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 5
- Location
- Austin, TX
- Founding
- 11/1939
- Data as of
- 12/2021
- EIN
- 74-1138105
Organization Overview
Texas Optometric Association Inc is located in Austin, TX. The organization was established in 1939. According to its NTEE Classification (G41) the organization is classified as: Eye Diseases, Blindness & Vision Impairments, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Texas Optometric Association Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Optometric Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Texas Optometric Association Inc generated $2.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DOCTORS OF OPTOMETRY WORKING TOGETHER TO ADVANCE EXCELLENCE IN EYECARE FOR EVERY TEXAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION OF ANNUAL CONVENTION - PROVIDES EDUCATIONAL, PROFESSIONAL, AND SOCIAL ACTIVITIES FOR MEMBERS.
PRODUCTION OF ASSOCIATION'S JOURNAL - PROVIDES INFORMATION TO MEMBERS CONCERNING THE PROFESSION AND INDUSTRY.
ROYALTY PROGRAMS - THE ASSOCIATION ALLOWS CERTAIN BUSINESSES AND ORGANIZATIONS TO PROVIDE GOODS AND SERVICES TO MEMBERS AT DISCOUNTS TO MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Ballance Executive Director | Officer | 40 | $123,941 |
Steve Nguyen President | OfficerTrustee | 10 | $10,000 |
Matt Valdes President-Elect | OfficerTrustee | 10 | $0 |
Brian Rast Secretary/treasurer | OfficerTrustee | 10 | $0 |
Mario Contaldi Immediate Past President | Trustee | 5 | $0 |
Clark Newman Consulting Past President | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,147,353 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $85,200 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,232,553 |
| Total Program Service Revenue | $655,437 |
| Investment income | $29,909 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $21,902 |
| Net Rental Income | $12,115 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,952,678 |
| 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. | $141,198 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $153,861 |
| Pension plan accruals and contributions | $8,295 |
| Other employee benefits | $27,357 |
| Payroll taxes | $23,943 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,457 |
| Fees for services: Accounting | $12,200 |
| Fees for services: Lobbying | $121,680 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $165,827 |
| Advertising and promotion | $0 |
| Office expenses | $99,965 |
| Information technology | $34,264 |
| Royalties | $0 |
| Occupancy | $75,140 |
| Travel | $11,293 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $644,718 |
| Interest | $31,258 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,467 |
| Insurance | $7,595 |
| All other expenses | $0 |
| Total functional expenses | $1,686,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $670,456 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,387 |
| 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 | $46,015 |
| Net Land, buildings, and equipment | $2,937,523 |
| Investments—publicly traded securities | $2,960,587 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,628,968 |
| Accounts payable and accrued expenses | $180,807 |
| Grants payable | $0 |
| Deferred revenue | $361,336 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $225,896 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,715,662 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,241 |
| Total liabilities | $2,500,942 |
| Net assets without donor restrictions | $4,128,026 |
| 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 | $6,628,968 |
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