THE BOSTON FOUNDATION FOR SIGHT INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

SARA YOST

Phone

7817267337

Tax Period

2024-01-01 to 2024-12-31

THE BOSTON FOUNDATION FOR SIGHT INC, founded in 1992, is a community nonprofit in the Human Services sector that reported $6.3M in total revenue in fiscal year 2024. Expenses of $6.0M left a modest 6% surplus.

Mission

OUR MISSION IS TO IMPROVE QUALITY OF LIFE BY TRANSFORMING THE UNDERSTANDING, TREATMENT, AND CARE OF THE OCULAR SURFACE.

Program Service Accomplishments

Program 1

Expenses: $4,105,753 Revenue: $5,591,873

BOSTON FOUNDATION FOR SIGHT, D/B/A BOSTONSIGHT, IS A WORLD RENOWNED NONPROFIT EYE HEALTH CARE ORGANIZATION. OUR MISSION IS TO IMPROVE QUALITY OF LIFE BY TRANSFORMING THE UNDERSTANDING, TREATMENT, AND CARE OF THE OCULAR SURFACE. SINCE 1992 WE HAVE RESTORED SIGHT TO THOUSANDS OF PATIENTS FROM AROUND THE WORLD. PROSTHETIC REPLACEMENT OF THE OCULAR SURFACE ECOSYSTEM (PROSE) IS AN INTEGRATED AND ITERATIVE TREATMENT PIONEERED BY BOSTONSIGHT THAT RESTORES VISUAL FUNCTION, SUPPORTS HEALING, REDUCES SYMPTOMS AND IMPROVES QUALITY OF LIFE FOR PATIENTS SUFFERING WITH OCULAR SURFACE DISEASE. BOSTONSIGHT PROSE USES FDA CLEARED CUSTOM DESIGNED AND FABRICATED PROSTHETIC DEVICES TO REPLACE OR SUPPORT IMPAIRED OCULAR SURFACE SYSTEM FUNCTIONS.

Program 2

Expenses: $375,188 Revenue: $42,788

BOSTONSIGHT'S CLINICAL EXPERIENCE IN OCULAR SURFACE DISEASE CREATES THE NECESSARY FOUNDATION FOR DRIVING RESEARCH AND ULTIMATELY INNOVATION IN THE DESIGN AND APPLICATION OF SCLERAL LENSES FOR...

BOSTONSIGHT'S CLINICAL EXPERIENCE IN OCULAR SURFACE DISEASE CREATES THE NECESSARY FOUNDATION FOR DRIVING RESEARCH AND ULTIMATELY INNOVATION IN THE DESIGN AND APPLICATION OF SCLERAL LENSES FOR IMPROVING QUALITY OF LIFE FOR PATIENTS AROUND THE WORLD. THE ORGANIZATION'S PROSPECTIVE CLINICAL RESEARCH PROGRAM IS UNIQUE AS WE DRAW FROM OUR HISTORY OF DIRECT PATIENT CARE, AIMING TO SOLVE NEW CLINICAL CHALLENGES WITH DIRECT IN-HOUSE ACCESS TO ENGINEERING, SOFTWARE DESIGN AND OUR STATE-OF-THE-ART MANUFACTURING FACILITY. IN 2018, BOSTONSIGHT WAS NAMED THE NUMBER ONE CONTRIBUTOR TO SCLERAL LENS PEER-REVIEWED PUBLICATIONS; AND IN 2021, AN ANALYSIS IN CONTACT LENS AND ANTERIOR EYE LISTED BOSTONSIGHT AS THE MOST IMPACTFUL INSTITUTION IN SCLERAL LENS PUBLICATIONS.

Program 3

Expenses: $160,399 Revenue: $49,180

ONE OF BOSTONSIGHT'S CORE VALUES IS TO EXPAND KNOWLEDGE AND EDUCATION TO EMPOWER PRACTITIONERS TO ELEVATE THE STANDARD OF CARE FOR PATIENTS. WE BELIEVE BY SHARING KNOWLEDGE, WE WILL MOVE THE INDUSTRY FORWARD. OPTOMETRISTS AND OPHTHALMOLOGISTS WORLDWIDE HAVE COME TO BOSTONSIGHT FOR IN-PERSON EDUCATION AT OUR CLINIC. THIS HAS RANGED FROM CLINICAL ROTATIONS TO RESEARCH OPPORTUNITIES TO COMPLETING OUR INTENSIVE PROSE CLINICAL TRAINING PROGRAM, WHICH ADDRESSES THE MOST ADVANCED CASES OF OCULAR SURFACE DISEASES. FITACADEMY EVENTS ARE SOME OF BOSTONSIGHT'S MOST RECOGNIZED EDUCATIONAL PROGRAMS. FITACADEMY OFFERS OPTOMETRISTS EXPERT TRAINING IN FITTING AND HANDLING SCLERAL LENSES IN BOTH A DIDACTIC AND EXPERIENTIAL SETTING. THE TRAINING COMBINES BOSTONSIGHT'S 30 YEARS OF CLINICAL EXPERIENCE WITH THE EXPERTISE OF THE INDUSTRY'S TOP PROFESSIONALS. BEGINNING IN 2024, WE COLLABORATED WITH OUR PARTNERS IN LATIN AMERICA AND HELD OUR FIRST GLOBAL EDUCATION PROGRAM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $346,596

Program Service Revenue $5,724,988

Investment Income $99,276

Other Revenue $148,004

TOTAL REVENUE $6,318,864

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,175,502

Fundraising Expenses $54,036

Program Expenses $4,641,340

Other Expenses $1,784,606

TOTAL EXPENSES $5,960,108

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,318,864	$5,962,410	+0.1%
Expenses	$5,960,108	$6,023,169	0.0%
Net Income	$358,756	$-60,759	-6.9%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$818,372

Total Directors

$376,355

Key Employees

$639,170

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SARA YOST	PRESIDENT & CEO	40.00	Officer Director	$341,143	$35,212	$376,355
PAMELA J ANDERSON ESQ	BOARD CHAIR	0.25	Officer Director	$0	$0	$0
MARCUS HUGHES ESQ	DIRECTOR	0.25	Director	$0	$0	$0
HOWARD PURCELL OD	DIRECTOR	0.25	Director	$0	$0	$0
MICHAEL RAIZMAN MD	DIRECTOR	0.25	Director	$0	$0	$0
RON REMY	DIRECTOR	0.25	Director	$0	$0	$0
CLIFFORD SCOTT OD	DIRECTOR	0.25	Director	$0	$0	$0
DONNA DESMOND	DIRECTOR	0.25	Director	$0	$0	$0
LAUREL VILLERS	CLERK, CHIEF BUSINESS DEVELOPMENT OFFICER	40.00	Officer	$211,641	$31,111	$242,752
CHERYL SADELI	CFO/TREASURER	40.00	Officer	$188,513	$10,752	$199,265
DANIEL BROCKS MD	MD, CHIEF MEDICAL OFFICER	40.00	Key Emp	$334,887	$36,052	$370,939
KAREN CARRASQUILLO OD PHD	SVP OF CLINICAL & PROF AFFAIRS	40.00	Key Emp	$237,288	$30,943	$268,231
KLIMENTY LEVIN	SOFTWARE ARCHITECT	40.00	Highest	$187,969	$10,436	$198,405
ALAN KWOK	OPTOMETRIST	40.00	Highest	$163,841	$29,270	$193,111
BITA ASGHARI	OPTOMETRIST	40.00	Highest	$154,493	$8,600	$163,093
CHIRAG PATEL	OPTOMETRIST	40.00	Highest	$146,118	$15,105	$161,223
OLGA TOMASHEVSKAYA	DIRECTOR OF ENGINEERING	40.00	Highest	$142,712	$8,751	$151,463

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$6,318,864	$5,960,108	$10,568,283	$358,756
2023	$5,962,410	$6,023,169	$10,737,439	$-60,759
2022	$5,736,628	$5,713,136	$10,473,178	$23,492
2021	$6,445,390	$5,421,000	$7,511,659	$1,024,390
2020	$5,207,986	$4,955,606	$6,242,671	$252,380
2019	$6,227,399	$5,130,993	$6,149,488	$1,096,406
2018	$6,011,144	$5,891,635	$4,096,199	$119,509