NEW ENGLAND EYE INSTITUTE 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

2001

Legal Domicile

Principal Officer

HOWARD PURCELL OD

Phone

6175875598

Tax Period

2024-07-01 to 2025-06-30

NEW ENGLAND EYE INSTITUTE INC, founded in 2001, is a community nonprofit in the Human Services sector that reported $8.3M in total revenue in fiscal year 2024.

Mission

TO IMPROVE THE VISUAL HEALTH OF POPULATIONS THROUGH EXCELLENCE IN COLLABORATIVE AND COMMUNITY-ORIENTED PATIENT CARE, EDUCATION AND RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $3,565,591 Revenue: $2,101,187

OWNED AND OPERATED CLINICS: NEW ENGLAND EYE (NEEI), DBA NECO CENTER FOR EYE CARE, IS THE PATIENT CARE AND TEACHING AFFILIATE OF THE NEW ENGLAND COLLEGE OF OPTOMETRY (NECO). THE COMMONWEALTH AND...

OWNED AND OPERATED CLINICS: NEW ENGLAND EYE (NEEI), DBA NECO CENTER FOR EYE CARE, IS THE PATIENT CARE AND TEACHING AFFILIATE OF THE NEW ENGLAND COLLEGE OF OPTOMETRY (NECO). THE COMMONWEALTH AND ROSLINDALE EYE CENTERS ARE OWNED AND OPERATED BY NEEI. A SIGNIFICANT PORTION OF THE STUDENT'S EARLY CLINICAL EDUCATION EXPERIENCES OCCUR AT THESE LOCATIONS SERVING OVER 15,000 PATIENT VISITS ANNUALLY. SERVICES OFFERED INCLUDE PRIMARY EYE CARE, LOW VISION REHABILITATION, PEDIATRIC EYE CARE, VISION THERAPY, MYOPIA CONTROL, CONTACT LENSES, AND OPTICIAN SERVICES.

Program 2

Expenses: $3,020,237 Revenue: $2,400,220

COMMUNITY HEALTH CENTERS AND EXTERNAL CLINICS: OUR DOCTORS AND STUDENTS PROVIDE EYE CARE SERVICES TO APPROXIMATELY 65,000 PATIENT VISITS ANNUALLY AT 15 MASSACHUSETTS COMMUNITY HEALTH CENTERS AND...

COMMUNITY HEALTH CENTERS AND EXTERNAL CLINICS: OUR DOCTORS AND STUDENTS PROVIDE EYE CARE SERVICES TO APPROXIMATELY 65,000 PATIENT VISITS ANNUALLY AT 15 MASSACHUSETTS COMMUNITY HEALTH CENTERS AND EXTERNAL CLINICS WITHIN A NETWORK OF NEIGHBORHOOD-BASED PRIMARY CARE CLINICS. THIS MODEL OF CARE EXPOSES OUR STUDENTS TO A DIVERSE POPULATION, AND ALLOWS THEM TO EXPERIENCE THE DELIVERY OF HEALTH/EYE CARE IN A CULTURALLY COMPETENT AND INTERDISCIPLINARY SETTING.`

Program 3

Expenses: $203,816 Revenue: $25,900

SCHOOL SCREENINGS AND OUTREACH SERVICES: OUR SCHOOLS AND OUTREACH PROGRAMS PROVIDE A WIDE RANGE OF SERVICES TO INDIVIDUALS EXPERIENCING HOMELESSNESS, ADULTS AND CHILDREN WITH INTELLECTUAL...

SCHOOL SCREENINGS AND OUTREACH SERVICES: OUR SCHOOLS AND OUTREACH PROGRAMS PROVIDE A WIDE RANGE OF SERVICES TO INDIVIDUALS EXPERIENCING HOMELESSNESS, ADULTS AND CHILDREN WITH INTELLECTUAL DISABILITIES, AND INDIVIDUALS WHO ARE LEGALLY BLIND OR VISUALLY IMPAIRED. SERVICES INCLUDE VISION SCREENINGS, COMPREHENSIVE EYE EXAMS, AND LOW VISION REHABILITATION. CARE IS PROVIDED IN PARTNERSHIP WITH PUBLIC SCHOOLS, HOMELESS SHELTERS, LOCAL GOVERNMENTS, AND COMMUNITY BASED ORGANIZATIONS. NEEI'S SCHOOLS AND OUTREACH PROGRAMS SERVE APPROXIMATELY 5,000 PATIENTS ANNUALLY ACROSS MASSACHUSETTS.

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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 $16,138

Program Service Revenue $7,870,659

Investment Income $6,688

Other Revenue $451,878

TOTAL REVENUE $8,345,363

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,028,715

Fundraising Expenses $0

Program Expenses $6,789,644

Other Expenses $2,323,962

TOTAL EXPENSES $8,352,677

Year-over-Year Comparison

	2024	2023	Change
Revenue	$8,345,363	$8,045,364	+0.0%
Expenses	$8,352,677	$8,053,817	+0.0%
Net Income	$-7,314	$-8,453	-0.1%

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

149

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

$1,455,956

Total Directors

$921,884

Key Employees

$449,437

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HOWARD PURCELL	PRESIDENT	0.00	Officer Director	$0	$63,060	$714,722
ATHANASIOS PANORGIAS	TRUSTEE/PROFESSOR	3.00	Director	$0	$29,465	$207,162
RICHARD HELLER	BOARD CHAIR	3.00	Director	$0	$0	$0
DOROTHY L HITCHMOTH	BOARD VICE CHAIR	3.00	Director	$0	$0	$0
MYRON ALLUKIAN JR	TRUSTEE	3.00	Director	$0	$0	$0
LINDA BENNETT	TRUSTEE	3.00	Director	$0	$0	$0
KAREN ENG	TRUSTEE	3.00	Director	$0	$0	$0
ALAN GLAZIER	TRUSTEE	3.00	Director	$0	$0	$0
KRISTEN GRIEBEL	TRUSTEE	3.00	Director	$0	$0	$0
ANNE KAVANAGH	TRUSTEE	3.00	Director	$0	$0	$0
JONATHAN MARCUS	TRUSTEE	3.00	Director	$0	$0	$0
ROBERT MEENAN	TRUSTEE	3.00	Director	$0	$0	$0
MELVIN MING	TRUSTEE	3.00	Director	$0	$0	$0
ANDREW MORGENSTERN	TRUSTEE	3.00	Director	$0	$0	$0
RACHEL NEGRIS	TRUSTEE	3.00	Director	$0	$0	$0
SUSAN PRIMO	TRUSTEE	3.00	Director	$0	$0	$0
VALARIE RICCIARDI	TRUSTEE	3.00	Director	$0	$0	$0
JOHN STEFANINI	TRUSTEE	3.00	Director	$0	$0	$0
TRACI LOGAN	TREASURER/EVP/COO	0.00	Officer	$0	$43,143	$560,451
MOLLIE S FORMAN	SECRETARY/MANAGER	0.00	Officer	$0	$22,286	$99,770
ADDY R REITER	ASST SECRETARY/OFFICE MANAGER	0.00	Officer	$0	$26,341	$81,013
TIMOTHY BOSSIE	SR DIR OWNED CLINICS AND OUTREACH	40.00	Key Emp	$197,370	$53,640	$251,010
AMY R MOY	SR DIR CHC INITIATIVES AND COMPLIANCE	40.00	Key Emp	$162,579	$35,848	$198,427
PHYLLIS ANDREJKO	ASST PROFESSOR CLINICAL OPTOMETRY	40.00	Highest	$165,707	$25,998	$191,705
CRYSTAL LEWANDOWSKI	ASSOC PROFESSOR CLINICAL OPTOMETRY	40.00	Highest	$138,114	$48,609	$186,723
THOMAS ANDREA	ASST PROFESSOR CLINICAL OPTOMETRY	40.00	Highest	$143,453	$37,670	$181,123
LEXI MALKIN	ASSOC PROFESSOR	40.00	Highest	$130,226	$53,178	$183,404
DANIEL BASTIAN	ASSOC PROFESSOR CLINICAL OPTOMETRY	40.00	Highest	$161,135	$19,299	$180,434

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
2025	$8,345,363	$8,352,677	$1,853,840	$-7,314
2024	$8,045,364	$8,053,817	$2,491,035	$-8,453
2023	$7,793,207	$7,798,243	$2,853,142	$-5,036
2022	$8,013,598	$7,992,518	$2,207,489	$21,080
2021	$7,660,316	$7,673,510	$2,430,136	$-13,194
2020	$7,537,793	$7,536,083	$2,635,447	$1,710
2019	$7,829,550	$7,821,094	$2,975,806	$8,456
2018	$4,374,644	$7,297,556	$4,554,923	$-2,922,912