WASHINGTON ACADEMY EYE PHYSICIANS … - 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

1977

Legal Domicile

Principal Officer

STEPHANIE CRAMER MD

Phone

2064419762

Tax Period

2023-11-01 to 2024-10-31

WASHINGTON ACADEMY EYE PHYSICIANS AND SURGEONS, founded in 1977, is a small nonprofit that reported $417K in total revenue in fiscal year 2023. Revenue fell 49% from the prior year — a significant decline worth monitoring. Expenses of $485K exceeded revenue, resulting in a 16% operating deficit.

Mission

THE WASHINGTON ACADEMY OF EYE PHYSICIANS & SURGEONS IS AN ORGANIZATION COMPRISED OF MEDICAL DOCTORS UNIQUELY TRAINED IN THE MEDICAL AND SURGICAL CARE OF THE EYE. WAEPS SERVES THE EDUCATIONAL AND PROFESSIONAL NEEDS OF ITS MEMBER OPHTHALMOLOGISTS AND IS DEVOTED TO PROMOTING THE HEALTH AND WELL-BEING OF THE CITIZENS OF WASHINGTON.

Program Service Accomplishments

Program 1

THE ORGANIZATION HOLDS MEETINGS TO PROVIDE PHYSICIANS WITH THE LATEST TECHNICAL INFORMATION.

Program 2

THE ORGANIZATION PUBLISHED A NEWSLETTER UPDATING MEMBERS ON CURRENT ACTIVITIES IN THE ORGANIZATION AND DISTRIBUTING NEW INFORMATION TO MEMBERS.

Program 3

THE ORGANIZATION KEPT THE STATE LEGISLATURE INFORMED ABOUT MATTERS OF IMPORTANCE TO THE ORGANIZATION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $165,270

Program Service Revenue $243,540

Investment Income $8,222

Other Revenue $0

TOTAL REVENUE $417,032

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $484,968

TOTAL EXPENSES $484,968

Year-over-Year Comparison

	2023	2022	Change
Revenue	$417,032	$812,829	-0.5%
Expenses	$484,968	$874,618	-0.4%
Net Income	$-67,936	$-61,789	+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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHANIE CRAMER MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
COURTNEY FRANCIS MD	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
RAHUL MANDIGA MD	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JANE MYUNG MD	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
MICHAEL BRUSH MD	TRUSTEE	1.00	Director	$0	$0	$0
ALEX BEAZER MD	TRUSTEE	1.00	Director	$0	$0	$0
TRAVIS FRAZIER MD	TRUSTEE	1.00	Director	$0	$0	$0
JAY RUDD MD	TRUSTEE	1.00	Director	$0	$0	$0
PRESTON SULLIVAN MD	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW WEED MD	TRUSTEE	1.00	Director	$0	$0	$0
JESSICA WEINSTEIN MD	TRUSTEE	1.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2024	$417,032	$484,968	$370,538	$-67,936
2023	$812,829	$874,618	$399,553	$-61,789
2022	$508,384	$631,677	$454,113	$-123,293
2021	$267,895	$247,744	$610,776	$20,151
2020	$225,328	$237,406	$548,971	$-12,078
2019	$392,658	$405,738	$566,979	$-13,080
2018	$494,752	$389,883	$575,538	$104,869

WASHINGTON ACADEMY EYE PHYSICIANS AND SURGEONS