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Retinal Science Foundation

Tax-deductible

Los Angeles, CA501(c)(3)Human Services EIN 99-0391847Revenue $1.6M in FY2024

On file with the IRS10801 W Sunset Blvd, 90077-3605 · Los Angeles, CATax-exempt since Mar 2024Publicly supported charity — 170(b)(1)(A)(vi)

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Preventing preventable blindness, and restoring vision to those who have lost IT in underserved communities.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
149 mo
of spending, in cash
Plus $1.0M in investments, Pt X · Ln 11–13
Looks good: 149.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1.0M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$19K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
Spent
$46K
To programs
67%
Net assets
$1.6M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $31K Management & general 9% · $4K Fundraising 24% · $11K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Steven D Schwartz
Chief Executive Officer & President
$0Pt VII · Sec A
Cindye Friedman
Chief Financial Officer & Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Retinal Science Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Restoring sight and preventing blindness in underserved communities.

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Provided by the organization

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1 program · $31K · in their own filed words · FY2024
01

The start-up operations of the foundation are focused on funding grants, conducting research, and assisting young investigator programs, clinical trial centers, and retinal disease screeing programs. During this early stage, the incurred program expenses are investigatory and not specifically allocable to separate programs.

$31Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
The UCLA FoundationFY2024$1.0M
Total grants receivedfrom 1 funder$1.0M

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.6M
Investment incomeLn 3$19K
Other incomeLn 4–11$433
Money outPt IX
$46K
Ln 25
Programscol B$31K
Managementcol C$4K
Fundraisingcol D$11K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$573K
Total assetsLn 16$1.6M
LiabilitiesLn 26$19K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Investment incomeLn 3$19K
Other incomeLn 4–11$433
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$573K
Cash and savings togetherLn 1–2$573K
InvestmentsLn 11–13$1.0M
Total assetsLn 16$1.6M
LiabilitiesLn 26$19K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$573K
InvestmentsLn 11–13$1.0M
Total assetsLn 16$0$1.6M
LiabilitiesLn 26$0$19K
Net assetsLn 32$0$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$18K$18K
Other fees for servicesLn 11g$2K$2K
TravelLn 17$22K$11K$11K
Other expenses (24a–d)Ln 24$4K$4K
All other expensesLn 24e$12$12
Total functional expensesLn 25$46K$31K$4K$11K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.6M$46K$1.6M$1.6M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,619,877 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,600,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$19,444
I-11 Other revenuePrior year $0$433
I-12 Total revenuePrior year $0$1,619,877
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $0$46,043
I-18 Total expensesPrior year $0$46,043
I-19 Revenue less expensesPrior year $0$1,573,834
Part VI · Governance 3 of 3 board members independent, 5 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $1,619,877 across 5 lines filed
VIII-1f All other contributions, gifts and grants$1,600,000
VIII-1h Total contributions, gifts and grants$1,600,000
VIII-3 Investment incomeExcluded from tax $19,444$19,444
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $433$433
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $19,877$1,619,877
Part IX · Statement of functional expenses $46,043 across 5 lines filed
IX-11b Legal feesPrograms $17,658$17,658
IX-11g Other fees for servicesPrograms $2,500$2,500
IX-17 TravelPrograms $10,916 · Fundraising $10,916$21,832
IX-24 Other expenses (24a–d)Management $4,041$4,041
IX-24e All other expensesManagement $12$12
IX-25 Total functional expensesPrograms $31,074 · Management $4,053 · Fundraising $10,916$46,043
Part X · Balance sheet $1,592,728 assets, 7 lines filed
X-1 Cash, non-interest-bearing$573,285
X-12 Other securities$1,019,443
X-16 Total assetsStart of year $0$1,592,728
X-17 Accounts payable and accrued expenses$18,894
X-26 Total liabilitiesStart of year $0$18,894
X-32 Total net assets or fund balancesStart of year $0$1,573,834
X-33 Total liabilities and net assetsStart of year $0$1,592,728
Part XI · Reconciliation of net assets $1,573,834 net assets at year end
XI-1 Total revenue$1,619,877
XI-2 Total expenses$46,043
XI-3 Revenue less expenses$1,573,834
XI-4 Net assets at start of year$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,573,834

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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