CORNEA RESEARCH FOUNDATION OF AMER… - Form 990 Financial Data

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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

1988

Legal Domicile

Principal Officer

FRANCIS W PRICE JR MD

Phone

3178142993

Tax Period

2024-07-01 to 2025-06-30

CORNEA RESEARCH FOUNDATION OF AMERICA INC, founded in 1988, is a small nonprofit that reported $607K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Net assets of $2.3M represent 45 months of operating reserves.

Mission

CORNEA RESEARCH FOUNDATION OF AMERICA, INC. WAS FORMED TO PROMOTE AND FUND MEDICAL EDUCATION AND RESEARCH IN THE FIELD OF OPHTHALMOLOGY, IN PARTICULAR, IN THE AREA OF CORNEAL AND REFRACTIVE SURGERY.

Program Service Accomplishments

Program 1

Expenses: $543,895 Revenue: $251,869

WE CONDUCTED RESEARCH STUDIES THAT RESULTED IN PUBLICATION OF 8 PEER-REVIEWED ARTICLES AND BOOK CHAPTERS ON NEW TREATMENTS FOR VISION PROBLEMS, AS WELL AS 12 PRESENTATIONS AT OPHTHALMOLOGY AND...

WE CONDUCTED RESEARCH STUDIES THAT RESULTED IN PUBLICATION OF 8 PEER-REVIEWED ARTICLES AND BOOK CHAPTERS ON NEW TREATMENTS FOR VISION PROBLEMS, AS WELL AS 12 PRESENTATIONS AT OPHTHALMOLOGY AND OPTOMETRY MEETINGS. WE PROVIDED PROGRAM GRANTS FOR 2 RESEARCH PROJECTS AND PROVIDED SUPPORT FOR A 3-MONTH RESEARCH FELLOWSHIP.

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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 $230,829

Program Service Revenue $251,869

Investment Income $132,546

Other Revenue $-8,048

TOTAL REVENUE $607,196

Expense Breakdown

Grants Paid $25,000

Salaries & Benefits $417,678

Fundraising Expenses $29,791

Program Expenses $543,895

Other Expenses $189,205

TOTAL EXPENSES $631,883

Year-over-Year Comparison

	2024	2023	Change
Revenue	$607,196	$541,104	+0.1%
Expenses	$631,883	$603,071	+0.0%
Net Income	$-24,687	$-61,967	-0.6%

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

$111,384

Total Directors

$1,520

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRANCIS W PRICE JR MD	PRESIDENT	4.00	Officer Director	$0	$0	$0
PHIL GIBSON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JEFF POTRZEBOWSKI	TREASURER	1.00	Officer Director	$0	$0	$0
RICHARD KING II	SECRETARY	1.00	Officer Director	$0	$0	$0
SANDY GOODING	DIRECTOR	1.00	Director	$0	$0	$0
JOHN TORR	DIRECTOR	1.00	Director	$0	$0	$0
ANJULIE GANG MD	DIRECTOR (THRU 06/25)	1.00	Director	$0	$0	$0
MATTHEW FENG MD	DIRECTOR	1.00	Director	$0	$0	$0
DAVID PRICE	DIRECTOR (FROM 06/25)	1.00	Director	$1,520	$0	$1,520
LARRY KAELIN	DIRECTOR	1.00	Director	$0	$0	$0
KYLE WENGER	DIRECTOR	1.00	Director	$0	$0	$0
BILL DREW	DIRECTOR	1.00	Director	$0	$0	$0
DOLORES HOLLAND OD	DIRECTOR	1.00	Director	$0	$0	$0
MARIANNE PRICE	EXECUTIVE DIRECTOR	45.00	Officer	$107,100	$4,284	$111,384
JESSICA DINGLEDY	DEVELOPMENT DIRECTOR	45.00	Highest	$103,949	$4,158	$108,107

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	$607,196	$631,883	$2,316,683	$-24,687
2024	$541,104	$603,071	$2,229,349	$-61,967
2023	$466,113	$552,400	$2,145,222	$-86,287
2022	$1,137,490	$436,581	$2,067,010	$700,909
2021	$406,813	$383,018	$1,497,244	$23,795
2020	$440,327	$390,367	$1,503,347	$49,960
2019	$659,460	$392,754	$1,421,844	$266,706

CORNEA RESEARCH FOUNDATION OF AMERICA INC