2018-08-15T11:29:06-05:00 2017-09-30 PricewaterhouseCoopers LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 990 2016-10-01 042129889 Schepens Eye Research Institute Inc % SUSAN MALEBRANCHE SCHE 6179120100 20 STANIFORD STREET Boston MA 02114 CAROLANN WILLIAMS CFO & VP FIN & ADMIN 6179120100 2018-07-17 true ERIN COUTURE P01390592 6175305000 2018-07-31 2016 2022-09-23 18:48:47Z JOHN FERNANDEZ 243 CHARLES STREET BOSTON MA 02114 23873492 false X www.schepens.harvard.edu X 1950 MA SEE SCHEDULE O. 21 17 188 3 0 0 19206800 19299029 1103755 1888652 292013 663684 789418 2012715 21391986 23864080 213091 191611 0 0 13559264 14136752 0 0 0 10942486 11487519 24714841 25815882 -3322855 -1951802 54701645 61005170 35334389 43276818 19367256 17728352 X SEE SCHEDULE O false false 20035320 191611 2443613 The Institute HAS research at every stage of development from the critical new ideas that are changing the way researchers around the world look at the future of treatment, to products in late-stage clinical trIAls, set to make an immediate impact on the lives of people struggling with vision-robbing diseases and injuries. The Institute has made tremendous progress in developing new cures for macular degeneration, diabetic retinopathy, glaucoma, other types of retinal and optic nerve degenerations and damage, dry eye and eye tissue transplants. There haVE also been great strides made in the development of new technologies - new lenses and devices - to help those with low vision make the absolute most out of the vision they have until we can reversE vision loss. 20035320 true true false false false false false false false true true false false true true true false true false false true false false false false false false true false true true false false false false false false false false false false false false false false false true true true false false true 48 0 true 188 true false false false false false false false false false false X 21 17 false false false false true true true true true false false true true true true true true false false false MA X X SUSAN MALEBRANCHE 6175736914 20 STANIFORD STREET Boston MA 02114 X ANNETTE NOVA DIRECTOR 4.0 4.0 X 0 0 0 CHARLES DE GUNZBURG DIRECTOR 4.0 4.0 X 0 0 0 DEWALT PETE ANKENY DIRECTOR 4.0 4.0 X 0 0 0 DONALD KORB DIRECTOR 4.0 0.0 X 0 0 0 FRANS VAN DE VELDE DIRECTOR 4.0 0.0 X 0 0 0 JERRY GOLDSTEIN DIRECTOR 4.0 0.0 X 0 0 0 JOAN W MILLER MD DIRECTOR 4.0 56.0 X 0 842571 51150 JOHN R FERNANDEZ PRESIDENT 4.0 56.0 X X 0 1015184 244873 JOHN REILLY DIRECTOR 4.0 0.0 X 0 0 0 JOSEPH RIZZO MD DIRECTOR 4.0 56.0 X 0 402740 59447 KATHRYN VECELLIO DIRECTOR 4.0 0.0 X 0 0 0 KAY LYONS DIRECTOR 4.0 0.0 X 0 0 0 KEN BURNES DIRECTOR 4.0 0.0 X 0 0 0 KENNETH FISCHER DIRECTOR 4.0 0.0 X 0 0 0 MARK ABELSON DIRECTOR 4.0 0.0 X 0 0 0 PATRICIA PATRICELLI DIRECTOR 4.0 0.0 X 0 0 0 RENEE MANGER DIRECTOR 4.0 0.0 X 0 0 0 SHERMAN STARR DIRECTOR 4.0 0.0 X 0 0 0 VICTORIA MCCULLOUGH DIRECTOR 4.0 4.0 X 0 0 0 WILLIAM AIKMAN DIRECTOR 4.0 0.0 X 0 0 0 WYCLIFFE GROUSBECK DIRECTOR 4.0 6.0 X 0 0 0 CAROLANN WILLIAMS CFO AND VP FINANCE & ADMIN 4.0 56.0 X 0 471086 14925 JONATHAN UHRIG TREASURER 4.0 6.0 X 0 0 0 LYLE HOWLAND SECRETARY 4.0 4.0 X 0 0 0 MARTHA PYLE FARRELL ASSISTANT SECRETARY 4.0 56.0 X 0 350230 34755 MAUREEN KELLEY ASSISTANT SECRETARY 4.0 56.0 X 0 194665 28866 ALAN K LONG VP RESEARCH ADMINISTRATION 30.0 30.0 X 0 292211 8996 DEBRA ROGERS VP OPHTHALMOLOGY 10.0 40.0 X 0 279954 25110 PATRICIA D'AMORE DIRECTOR OF RESEARCH 60.0 0.0 X 0 391166 7100 DARLENE DARTT SENIOR SCIENTIST 60.0 0.0 X 0 170425 22953 ELIEZER PELI SENIOR SCIENTIST 60.0 0.0 X 0 244920 14663 JAMES ZIESKE SENIOR SCIENTIST 60.0 0.0 X 0 146033 0 NEENA HAIDAR ASSOCIATE SCIENTIST 60.0 0.0 X 0 138689 22951 BRUCE R KSANDER ASSOCIATE SCIENTIST 60.0 0.0 X 0 130826 22950 0 5070700 558739 2 false true false 0 639438 17328643 1330948 7307 19299029 SERI CORE SERVICE CHARGES 900099 1888652 1888652 1888652 303577 303577 0 1343805 1343805 123361 9412 113949 0 113949 113949 360107 360107 360107 360107 0 0 0 0 0 0 0 0 0 PARKING INCOME 531390 47497 47497 OTHER REVENUE 900099 507464 507464 554961 23864080 2443613 0 2121438 191611 191611 0 0 0 524277 524277 0 10403712 8821491 1582221 1079881 919298 160583 1514845 1271498 243347 614037 522727 91310 0 259349 217654 41695 44839 2449 42390 0 0 70172 70172 399998 144138 255860 39584 38174 1410 3200929 3071608 129321 160071 160071 329667 329667 3831544 2038146 1793398 261170 261159 11 0 176855 151164 25691 574535 574535 0 1049870 671917 377953 88649 88649 PROCESSING AND FILING FEES 60017 36253 23764 MEMBERSHIP DUES 23108 22863 245 MISCELLANEOUS 175595 157786 17809 REIMB/MEEI/EMP&BENEFITS 741567 481369 260198 25815882 20035320 5780562 0 -63213 4882166 0 0 3803680 4939011 0 0 0 0 0 0 0 0 0 0 53202 37576 71348690 53912862 18318269 17435828 0 0 2164978 2164978 0 0 602234 646992 29822495 30898619 54701645 61005170 3580389 2026449 0 0 2103485 4848398 8140836 7762512 0 0 0 0 0 0 0 0 21509679 28639459 35334389 43276818 X 479922 677074 6875616 5039560 12011718 12011718 19367256 17728352 54701645 61005170 X -1951802 312898 X false true X true true true X 23922926 20437991 22555238 19206800 19299029 105421984 0 0 23922926 20437991 22555238 19206800 19299029 105421984 0 105421984 620995 972710 576213 801464 1770743 4742125 0 582303 428192 377808 302477 554961 2245741 112409850 5107002 0.93784 0.95650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16650248 903925 2778490 70172 14705511 17908169 671006 1859411 69516 16650248 20014836 73836 2091049 89454 17908169 25009323 1351690 6242831 103346 20014836 26323518 15000 1056820 2261146 124869 25009323 0.00000 1.00000 0.00000 false true true 202818 202818 42663385 26600812 16062573 8423353 8340954 82399 20039627 18971096 1068531 19507 19507 17435828 DUE FROM AFFILIATES 30096591 OTHER ASSETS 802028 30898619 0 DEFERRED CREDIT 470531 DEFERRED RENT 139376 DUE TO AFFILIATES 27334441 OTHER LIABILITIES 695111 28639459 X SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF SCHEPENS' ENDOWMENT FUNDS IS TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO THE SUPPORTED RESEARCH ACTIVITIES WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. SCHEDULE D, PART X, LINE 2 SCHEPENS EYE RESEARCH INSTITUTE, INC. ("SCHEPENS") WAS INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS WITH ITS AFFILIATED ORGANIZATIONS. THE INCOME TAX FOOTNOTE IS AS FOLLOWS: THE FOUNDATION AND ITS AFFILIATES QUALIFY AS TAX-EXEMPT ORGANIZATIONS UNDER THE INTERNAL REVENUE CODE. THE FOUNDATION, INFIRMARY, ASSOCIATES, SCHEPENS AND EMBANKMENT ARE TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CIRCLE IS TAX-EXEMPT UNDER 501(C)(25) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING FINANCIAL STATEMENTS. MANAGEMENT HAS EVALUATED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND THERE WAS NO IMPACT TO THE FOUNDATION'S FINANCIAL STATEMENTS FOR THE YEAR ENDED SEPTEMBER 30, 2017. South America Program Services CONFERENCES 496 Middle East and North Africa Program Services CONFERENCES 2353 East Asia and the Pacific Program Services CONFERENCES 8650 Europe (Including Iceland and Greenland) Program Services CONFERENCES 24605 36104 36104 false false false false false false true Duke University 2200 W Main Street Erwin Square Plaza Suite 820 Durham NC 22705 560532129 501(C)(3) 49710 RESEARCH Boston Children's Hospital 300 Longwood Avenue Boston MA 02115 042774441 501(c)(3) 67951 RESEARCH Tufts University 136 Harrison Avenue Boston MA 021111817 042103634 501(c)(3) 25038 RESEARCH University of Nebraska Medical Center 984388 NE Med Center Lincoln NE 681984388 470049123 501(c)(3) 42866 RESEARCH University of Pittsburgh 123 University Place B21 Pittsburgh PA 152132303 259065591 501(c)(3) 6045 RESEARCH 5 Schedule I, Part I, Line 2 Subawards are issued through a consortium agreement between Schepens Eye Research Institute ("SERI") and the recipient institution. The agreement specifies the terms of the subaward, and includes a detailed budget and scope of work to be performed by the recipient institution. Awarded funds are encumbered by a purchase order that is assigned to a unique fund number. Payments to recipient institutions made against the purchase order are recorded in the accounting system so that individual payments and purchase order balances can be monitored. Disbursement of funds for subawards require the written approval of the Principal Investigator ("PI"). Frequent progress reports and other forms of communication are required between the PI and the subrecipient institute to ensure that the scope of work is progressing at a satisfactory pace. Research Administration also conducts an annual inventory of institutions to which research has been subawarded. A risk assessment matrix is employed, along with a review of the subrecepient's most recent A133 audit report, to determine the level of risk regarding the sub recepient's ability to comply with federal guidelines. true true false false false false false false false ALAN K LONG VP RESEARCH ADMINISTRATION 0 155230 0 0 0 136981 0 8994 0 2 0 301207 0 0 CAROLANN WILLIAMS CFO AND VP FINANCE & ADMIN 0 419684 0 50592 0 810 0 11311 0 3614 0 486011 0 0 DARLENE DARTT SENIOR SCIENTIST 0 168516 0 0 0 1909 0 0 0 22953 0 193378 0 0 DEBRA ROGERS VP OPHTHALMOLOGY 0 234185 0 26010 0 19759 0 10446 0 14664 0 305064 0 0 ELIEZER PELI SENIOR SCIENTIST 0 241128 0 0 0 3792 0 0 0 14663 0 259583 0 0 JOAN W MILLER MD DIRECTOR 0 738539 0 83710 0 20322 0 36475 0 14675 0 893721 0 0 JOHN R FERNANDEZ PRESIDENT 0 758265 0 114300 0 142619 0 221901 0 22972 0 1260057 0 120000 JOSEPH RIZZO MD DIRECTOR 0 399176 0 0 0 3564 0 36475 0 22972 0 462187 0 0 MARTHA PYLE FARRELL ASSISTANT SECRETARY 0 292606 0 37452 0 20172 0 11789 0 22966 0 384985 0 0 MAUREEN KELLEY ASSISTANT SECRETARY 0 190384 0 3500 0 781 0 5916 0 22950 0 223531 0 0 PATRICIA D'AMORE DIRECTOR OF RESEARCH 0 384752 0 0 0 6414 0 0 0 7100 0 398266 0 0 NEENA HAIDAR ASSOCIATE SCIENTIST 0 138382 0 0 0 307 0 0 0 22951 0 161640 0 0 BRUCE R KSANDER ASSOCIATE SCIENTIST 0 129583 0 0 0 1243 0 0 0 22950 0 153776 0 0 SCHEDULE J, PART I, LINE 3 OFFICERS, DIRECTORS, & KEY EMPLOYEES OF SCHEPENS EYE RESEARCH INSTITUTE, INC. ("SCHEPENS") ARE COMPENSATED BY THE MASSACHUSETTS EYE AND EAR INFIRMARY ("THE INFIRMARY"), AND ONE KEY EMPLOYEE IS PAID FROM THE MASSACHUSETTS EYE AND EAR ASSOCIATES. BOTH ARE RELATED ORGANIZATIONS. THE INFIRMARY USED A COMPENSATION COMMITTEE, COMPENSATION SURVEY, APPROVAL BY THE BOARD, AND AN INDEPENDENT COMPENSATION CONSULTANT TO ESTABLISH THE COMPENSATION OF THE PRESIDENT. SCHEDULE J, PART I, LINE 4A IN CONNECTION WITH HIS DEPARTURE, IN OCTOBER 2016 ALAN LONG RECEIVED A PAYMENT OF $110,408 WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). SCHEDULE J, PART I, LINE 4B JOHN FERNANDEZ PARTICIPATES IN A DEFERRED COMPENSATION ARRANGEMENT WITH MASSACHUSETTS EYE AND EAR. UNDER THIS AGREEMENT, MR. FERNANDEZ WILL BE CREDITED $200,000 FOR CALENDAR YEAR 2016. EACH ANNUAL CREDIT WILL VEST ON THE FOURTH ANNIVERSARY OF THE DATE SUCH CREDIT WAS MADE OR UPON (1) THE ATTAINMENT OF THE AGE OF 65 WHILE EMPLOYED; (2) TERMINATION WITHOUT CAUSE OR RESIGNATION FOR GOOD REASON; (3) DEATH; (4) DISABILITY; OR (5) CHANGE OF CONTROL OF MASSACHUSETTS EYE AND EAR WITHIN THE MEANING OF SECTION 409A OF THE INTERNAL REVENUE CODE. MR. FERNANDEZ RECEIVED A PAYOUT OF $141,377 FROM THE DEFERRED COMPENSATION AGREEMENT IN 2016. A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431814 000000000 2010-12-30 10000000 REFUND PRIOR ISSUE 1/14/1998 false false false A 1510103 0 10000000 771650 0 0 172500 0 0 90915 8964935 0 2010 true false true true A 0 A false false true false false false 0 false 0 false true A true Form 990, Part I, Line 1 & PART III, LINE 1 DESCRIPTION OF ORGANIZATION MISSION THE SCHEPENS EYE RESEARCH INSTITUTE ("SCHEPENS") FIGHTS BLINDNESS BY DEVELOPING NEW TECHNOLOGIES, THERAPIES AND KNOWLEDGE TO RETAIN AND RESTORE VISION. THROUGH A CONTINUUM OF DISCOVERY, THE INSTITUTE WORKS TOWARD A FUTURE IN WHICH BLINDNESS IS PREVENTED, ALLEVIATED AND ULTIMATELY CURED. Form 990, Part VI, Section A, line 6 The Foundation of the Massachusetts Eye and Ear Infirmary, Inc. is the sole member of the Institute. FORM 990, PART VI, SECTION A, LINE 7A The Board of Directors are elected by the Member. FORM 990, PART VI, SECTION A, LINE 7B The following actions shall require approval by the Member: 1. Approval of all long-term or master strategic or business plans of the Corporation and any substantive changes thereto; 2. Approval of any substantive changes to the vision and mission statement of the Corporation; 3. Approval of annual and long-term operating and capital budgets of the Corporation; 4. Approval of the merger, consolidation, or dissolution of the Corporation; 5. Approval of any material change in the types of research conducted by the Corporation, including additions thereto and discontinuations thereof, which are not expressly identified and provided for in the previously approved strategic and/or business plans; 6. Appointment or removal of financial auditors of the Corporation; 7. Approval of the Corporations plan of insurance; 8. Approval of the organization or acquisition of any subsidiary or affiliate of the Corporation, or the conducting of all or any part of the Corporations business through one or more affiliated corporations, partnerships, limited liability companies or other arrangements or entities; 9. Approval of any academic or other material strategic affiliation of the Corporation with third parties. Form 990, part VI, Section B, line 11B SCHEPENS'S FORM 990 IS PREPARED BY PRICEWATERHOUSECOOPERS, LLP USING INFORMATION PROVIDED BY MANAGEMENT. AFTER THE FORM 990 IS COMPLETED, IT IS REVIEWED BY THE MANAGER OF INVESTMENTS AND FOUNDATION ACCOUNTING. THE FORM 990 IS THEN PRESENTED TO THE FINANCE COMMITTEE FOR FURTHER REVIEW AND APPROVAL AS AUTHORIZED BY THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS IS ALSO GIVEN THE FORM 990 FOR REVIEW WITH TIME TO SUBMIT COMMENTS AND QUESTIONS BEFORE FINAL FILING. FORM 990, Part VI, Section B, Line 12C SCHEPENS EMPLOYEES ARE COVERED BY THE INFIRMARY CONFLICT OF INTEREST POLICY. MEMBERS OF THE STAFF ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST TO THEIR CHIEF OF SERVICE, DEPARTMENT AND DIRECTOR OF LABORATORY/UNIT. MEMBERS OF THE BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANNUALLY, IN WRITING, ANY INTERESTS THAT COULD RISE TO CONFLICTS. THE OFFICE OF THE INTERNAL LEGAL COUNSEL OBTAINS AND REVIEWS THE ANNUAL CONFLICTS OF INTEREST STATEMENTS SUBMITTED BY MEMBERS OF THE BOARD OF DIRECTORS, AND REPORTS ON THE SAME TO THE AUDIT AND COMPLIANCE COMMITTEE OF THE BOARD. WITH RESPECT TO INTERESTS DISCLOSED BY THE BOARD MEMBERS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, THE INTERNAL LEGAL COUNSEL REVIEWS ALL TRANSACTIONS BETWEEN SUCH INTERESTS AND AFFILIATES OF SCHEPENS, TO DETERMINE WHETHER THESE TRANSACTION WERE CONDUCTED AT ARM'S LENGTH. FORM 990, Part VI, Section B, Line 15 PLEASE SEE THE INFIRMARY'S RETURN FOR COMPENSATION DISCLOSURES. THE CHAIRMAN OF THE COMPENSATION COMMITTEE OF THE BOARD OF THE MASSACHUSETTS EYE AND EAR INFIRMARY PRESENTS A RECOMMENDATION TO THE COMPENSATION COMMITTEE WHO HAVE FINAL APPROVAL OF THE CEO'S BASE SALARY AND BONUS AMOUNT. THE CEO RECOMMENDS EXECUTIVE SALARIES TO THE COMPENSATION COMMITTEE OF THE BOARD WHO HAS FINAL AUTHORIZATION TO APPROVE IT. THE COMPENSATION COMMITTEE MEETING WAS HELD ON NOVEMBER 16, 2016. TOTAL COMPENSATION FOR THE CEO, CHIEFS AND VICE PRESIDENTS, INCLUDING BONUS PAYMENTS, INCLUDING COMPARABILITY DATA, IS ANALYZED BY INDEPENDENT COMPENSATION CONSULTANTS AND IS DETERMINED TO BE REASONABLE. FORM 990, PART VI, SECTION B, LINE 19 SUMMARIZED FINANCIAL STATEMENTS ARE AVAILABLE ON THE INFIRMARY'S WEBSITE: WWW.MASSEYEANDEAR.ORG. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. SCHEPENS' GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS ALSO AVAILABLE UPON REQUEST. FORM 990, Part VII COMPENSATION IS FOR PROFESSIONAL SERVICES AND NOT FOR SERVICE AS OFFICERS. PLEASE SEE THE INFIRMARY'S RETURN FOR COMPENSATION DISCLOSURES. FND OF THE MASS EYE & EAR INFIRMARY INC 243 Charles Street Boston MA 02114 042785453 SUPPORT MA 501(C)(3) 10 N/A false Massachusetts Eye and Ear Infirmary 243 Charles Street Boston MA 02114 042103591 Hospital MA 501(C)(3) 3 Foundation true Massachusetts Eye and Ear AssociatesInC 243 Charles Street Boston MA 02114 222658209 Patient care MA 501(C)(3) 10 Foundation true Embankment Services Inc 243 CHARLES STREET Boston MA 02114 043272965 Support MA 501(C)(3) 12 Type 1 Foundation true Circle Company Inc 243 Charles Street Boston MA 02114 042801791 TITLE HOLDING MA 501(C)(25) n/a Foundation true false false true false false false false false false false false false false false false true true false false MASSACHUSETTS EYE AND EAR INFIRMARY P 3322045 CASH MASSACHUSETTS EYE AND EAR INFIRMARY Q 1277705 CASH MASSACHUSETTS EYE AND EAR INFIRMARY C 170886 CASH MASSACHUSETTS EYE AND EAR INFIRMARY Q 298042 CASH MASSACHUSETTS EYE AND EAR ASSOCIATES INC P 3870616 CASH