Virginia Eye Foundation
Virginia Eye Foundation shows strong program spending and no officer compensation, with a notable expense spike in 2022.
EIN: 201612154 · Norfolk, VA · NTEE: G41 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $383K |
| Total Expenses | $403K |
| Program Spending | 75% |
| Net Assets | $235K |
| Transparency Score | 85/100 |
Is Virginia Eye Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Virginia Eye Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Virginia Eye Foundation
Virginia Eye Foundation (EIN: 201612154) is a nonprofit organization based in Norfolk, VA, classified under NTEE code G41. The organization reported total revenue of $383K and total assets of $132K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Virginia Eye Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Virginia Eye Foundation is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 59.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $498K |
| Total Expenses | $403K |
| Surplus / Deficit | +$95K |
| Total Assets | $235K |
| Net Assets | $235K |
| Operating Margin | 19.1% |
| Months of Reserves | 7.0 months |
Financial Health Grade: A
In 2023, Virginia Eye Foundation reported a surplus of $95K with revenue exceeding expenses, holds 7.0 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Virginia Eye Foundation's revenue has grown at a compound annual growth rate (CAGR) of 59.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +17595.4% | -63.7% | +161.5% |
| 2022 | -99.2% | +601.1% | -92.5% |
| 2021 | +1.5% | +23.7% | +19.4% |
| 2020 | +17.1% | +36.0% | +28.0% |
| 2019 | +31.1% | -41.0% | +34.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Virginia Eye Foundation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Virginia Eye Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $95K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly favorable for resource allocation to its mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Virginia Eye Foundation's IRS 990 filings:
- Significant expense spike in 202212 ($1,110,206) far exceeding revenue ($2,815) without clear explanation in summary data.
- Large fluctuation in assets, dropping from over $1.1 million in 202112 to under $90,000 in 202212.
Strengths
The following positive indicators were identified for Virginia Eye Foundation:
- Strong program spending ratio (75% in 202312).
- Consistent reporting of 0% officer compensation across all filings.
- No reported liabilities in recent filings (202312, 202212, 202112, 202012, 201912, 201812, 201712, 201612), indicating strong solvency.
- Long history of IRS 990 filings (13 filings), demonstrating transparency and compliance.
- Positive net assets and revenue growth over the long term.
Frequently Asked Questions about Virginia Eye Foundation
Is Virginia Eye Foundation a legitimate charity?
Virginia Eye Foundation (EIN: 201612154) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $383K. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Virginia Eye Foundation spend its money?
Virginia Eye Foundation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Virginia Eye Foundation tax-deductible?
Virginia Eye Foundation is registered as a tax-exempt nonprofit (EIN: 201612154). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Virginia Eye Foundation's spending goes to programs?
Virginia Eye Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Virginia Eye Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Virginia Eye Foundation is above average for NTEE category G41 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Virginia Eye Foundation located?
Virginia Eye Foundation is headquartered in Norfolk, Virginia and files with the IRS under EIN 201612154. It is classified under NTEE code G41.
How many years of IRS 990 filings does Virginia Eye Foundation have?
Virginia Eye Foundation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $383K in total revenue.
What caused the significant expense increase to $1,110,206 in 2022, given the revenue of only $2,815 in the same period?
The 202212 filing shows expenses of $1,110,206 against revenue of only $2,815. This substantial discrepancy requires further review of the detailed 990 form for that period to understand the nature of these expenditures and how they were financed (e.g., drawing from reserves, specific project funding, or an accounting adjustment).
How does the Virginia Eye Foundation sustain its operations without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization may rely heavily on volunteer leadership, pro-bono services, or that compensation for key personnel is structured in a way that is not reported as officer compensation on the 990, which would require further investigation into their operational model.
What is the long-term strategy for asset growth and utilization, given the fluctuations?
Assets have fluctuated, reaching a high of $1,197,337 in 202112 before dropping to $89,946 in 202212 and recovering to $235,190 in 202312. Understanding the strategy behind these changes, especially the significant drop in 202212, is crucial for assessing long-term financial stability and capacity.
Filing History
IRS 990 filing history for Virginia Eye Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Virginia Eye Foundation's revenue has grown by 27045.8%, moving from $2K to $498K. Total assets increased by 143.8% over the same period, from $96K to $235K. Total functional expenses rose by 22521.1%, from $2K to $403K. In its most recent filing year (2023), Virginia Eye Foundation reported a surplus of $95K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $498K | $403K | $235K | $0 | — | View 990 |
| 2022 | $3K | $1.1M | $90K | $0 | — | View 990 |
| 2021 | $353K | $158K | $1.2M | $0 | — | View 990 |
| 2020 | $347K | $128K | $1.0M | $0 | — | View 990 |
| 2019 | $297K | $94K | $784K | $0 | — | View 990 |
| 2018 | $226K | $159K | $581K | $0 | — | View 990 |
| 2017 | $225K | $130K | $514K | $0 | — | View 990 |
| 2016 | $216K | $94K | $420K | $0 | — | View 990 |
| 2015 | $155K | $83K | $300K | $3K | — | View 990 |
| 2014 | $117K | $81K | $225K | $0 | — | View 990 |
| 2013 | $98K | $10K | $190K | $1K | — | View 990 |
| 2012 | $6K | $2K | $101K | $38 | — | View 990 |
| 2011 | $2K | $2K | $96K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $498K, expenses of $403K, and assets of $235K (revenue +17595.4% year-over-year).
- 2022: Revenue of $3K, expenses of $1.1M, and assets of $90K (revenue -99.2% year-over-year).
- 2021: Revenue of $353K, expenses of $158K, and assets of $1.2M (revenue +1.5% year-over-year).
- 2020: Revenue of $347K, expenses of $128K, and assets of $1.0M (revenue +17.1% year-over-year).
- 2019: Revenue of $297K, expenses of $94K, and assets of $784K (revenue +31.1% year-over-year).
- 2018: Revenue of $226K, expenses of $159K, and assets of $581K (revenue +0.8% year-over-year).
- 2017: Revenue of $225K, expenses of $130K, and assets of $514K (revenue +3.7% year-over-year).
- 2016: Revenue of $216K, expenses of $94K, and assets of $420K (revenue +39.8% year-over-year).
- 2015: Revenue of $155K, expenses of $83K, and assets of $300K (revenue +31.8% year-over-year).
- 2014: Revenue of $117K, expenses of $81K, and assets of $225K (revenue +19.3% year-over-year).
- 2013: Revenue of $98K, expenses of $10K, and assets of $190K (revenue +1552.4% year-over-year).
- 2012: Revenue of $6K, expenses of $2K, and assets of $101K (revenue +224.6% year-over-year).
- 2011: Revenue of $2K, expenses of $2K, and assets of $96K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Virginia Eye Foundation:
Data Sources and Methodology
This transparency report for Virginia Eye Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.