2017-04-25T14:17:25-05:00 2016-06-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2015-07-01 251439732 EYE AND EAR FOUNDATION EYEA 4128641300 200 LOTHROP ST NO 251 PITTSBURGH PA 15213 LAWRENCE N GUMBERG TREASURER 4128641300 2017-04-18 1 EUGENE J LOGAN P00227231 4122613644 2015 2021-01-29 14:40:06Z GEORGE A FECHTER 200 LOTHROP ST NO 251 PITTSBURGH PA 15213 16599751 0 X WWW.EYEANDEAR.ORG X 1983 PA ADVANCING ACADEMIC & RESEARCH EFFORTS OF OTOLARYNGOLOGY & OPHTHALMOLOGY DEPTS. AT UNIV. OF PITT. 19 19 0 16 -737 -14414 1784582 3157298 0 0 -308389 580563 -33464 1652 1442729 3739513 1742318 3378156 0 0 0 0 0 0 235446 697666 1100849 2439984 4479005 -997255 -739492 31965853 31952871 77888 1304466 31887965 30648405 THE EYE & EAR FOUNDATION IS A 501(C)(3) ORGANIZATION WITH THE MISSION OF ADVANCING THE LEADING-EDGE ACADEMIC AND RESEARCH EFFORTS OF THE DEPARTMENTS OF OTOLARYNGOLOGY AND OPHTHALMOLOGY AT THE UNIVERSITY OF PITTSBURGH WITH THE ULTIMATE GOAL OF ENHANCING PATIENT CARE. 0 0 3744052 3378156 0 GRANTS TO DEPARTMENT OF OTOLARYNGOLOGY AND DEPARTMENT OF OPHTHALMOLOGY OF UNIVERSITY OF PITTSBURGH'S SCHOOL OF MEDICINE AND RELATED PROGRAMS AT THE UNIVERSITY OF PITTSBURGH AND UPMC HEALTH SYSTEM TO CONSISTENTLY IMPROVE THE QUALITY OF SCIENTIFIC ENDEAVORS. IN ADDITION TO GRANT MAKING ACTIVITY, THE ORGANIZATION ENGAGES IN FUNDRAISING ACTIVITIES TO RAISE DOLLARS TO FUND INNOVATIVE RESEARCH IN THE FIELDS OF OPHTHALMOLOGY AND OTOLARYNGOLOGY. 3744052 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 7 0 1 0 0 0 0 0 0 1 1 0 0 0 0 X 19 19 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 PA X LAWTON SNYDER 4128641300 200 LOTHROP STREET SUITE 251 PITTSBURGH PA 15213 X X RUTH AULD EDD BOARD MEMBER 0.50 X 0 0 0 DEEPINDER K DHALIWAL MD LAC BOARD MEMBER 0.50 X 0 0 0 DOUGLAS P DICK BOARD MEMBER 0.50 X 0 0 0 LOUIS J FOX BOARD MEMBER 0.50 X 0 0 0 JONAS T JOHNSON MD FACS BOARD MEMBER 0.50 X 0 0 0 JEFFREY MARKELESQ BOARD MEMBER 0.50 X 0 0 0 DIANA L MRVOS MD BOARD MEMBER 0.50 X 0 0 0 ALBERT C MUSE BOARD MEMBER 0.50 X 0 0 0 EUGENE N MYERS MD FACS FRCS BOARD MEMBER 0.50 X 0 0 0 B GORDON NELSON III BOARD MEMBER 0.50 X 0 0 0 JOEL S SCHUMAN MD FACS BOARD MEMBER (EXIT 6/30/16) 0.50 X 0 0 0 NANCY L SNYDERMAN MD FACS BOARD MEMBER (ENTER 9/30/15) 0.50 X 0 0 0 VIOLET SOFFER BOARD MEMBER 0.50 X 0 0 0 PAUL R VITTONE BOARD MEMBER 0.50 X 0 0 0 BRUCE WIEGAND BOARD MEMBER 0.50 X 0 0 0 ALDO ZINI BOARD MEMBER 0.50 X 0 0 0 GEORGE A FECHTER CHAIRMAN 0.50 X X 0 0 0 CHARLES R BRODBECK ESQ VICE CHAIRMAN 0.50 X X 0 0 0 LAWRENCE N GUMBERG TREASURER 0.50 X X 0 0 0 CYNTHIA SUNSERI SECRETARY 0.50 X X 0 0 0 LAWTON SNYDER EXECUTIVE DIRECTOR 37.50 X 0 0 0 0 0 0 0 0 0 0 0 5950 3151348 3157298 572377 -737 573114 12864403 12856217 8186 8186 8186 5100 5950 4021 1079 1079 MISCELLANEOUS INCOME 900099 573 573 573 3739513 0 -737 582952 3372156 3372156 6000 6000 7379 7379 23880 23880 170374 170374 16915 16915 33541 33541 29782 29782 34851 34851 2033 2033 13786 13786 OPERATION EXPENSE 421966 15675 170845 235446 BAD DEBT EXPENSE 300000 300000 FOREIGN TAXES PAID 18355 18355 SCIENTIFIC ADVISORY COM 9105 9105 18882 4232 14650 4479005 3744052 499507 235446 121135 176660 1108043 1405578 1297779 653234 79655 51370 29359241 29666029 31965853 31952871 9138 19482 68750 1284984 77888 1304466 X 19014184 17456606 7663995 8233984 5209786 4957815 31887965 30648405 31965853 31952871 -739492 -500068 0 X X 0 1 X 1 0 X 697831 1807728 1556741 1784582 3161848 9008730 697831 1807728 1556741 1784582 3161848 9008730 3454444 5554286 446449 615317 630529 585492 572377 2850164 2180 489 69 413 573 3724 11862618 0.46820 0.54470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5209786 100 -12423 239648 4957815 3307761 1972726 66383 137084 5209786 3001666 436011 129916 3307761 2310750 500000 308871 117955 3001666 2375615 -26577 38288 2310750 0.00000 1.00000 0.00000 0 0 0 PUBLIC EQUITY FUNDS 20004028 F PRIVATE EQUITY FUNDS 1801320 F FIXED INCOME FUNDS 7860681 F 29666029 X 3248828 -500068 9383 -490685 3739513 0 3739513 4488388 9383 9383 4479005 0 4479005 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED INVESTMENT FUNDS ESTABLISHED FOR PERPETUAL SUPPORT OF THE FOUNDATION'S MISSION. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE FINANCIAL STATEMENTS. THE FOUNDATION IS DETERMINED NOT TO BE A PRIVATE FOUNDATION PURSUANT TO SECTION 509 OF THE IRC. THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED THE ACCOUNTING FOR INCOME TAXES TOPIC OF THE CODIFICATION, WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THIS TOPIC PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR FINANCIAL STATEMENT DISCLOSURE OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. THE FOUNDATION HAS ADOPTED THIS TOPIC WITHOUT IMPACT TO THE FINANCIAL STATEMENTS. THE FOUNDATION IS NO LONGER SUBJECT TO EXAMINATIONS BY TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2013. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 4,021. IN KIND 5,362. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSE 4,021. IN KIND 5,362. FORM 990, SCHEDULE D, PART V, LINE 1A, ENDOWMENT BALANCE: THE ENODWMENT BEGINNING OF YEAR BALANCE WAS ADJUSTED DUE TO FINANCIAL STATEMENT RECLASSIFICATIONS. 1 UNIVERSITY OF PITTSBURGH 203 LOTHROP AVE PITTSBURGH PA 15213 250965591 501(C)(3) 2593285 N/A N/A GENERAL SUPPORT FOR ACADEMIC RESEARCH NYU LANGONE MEDICAL CENTER 25 WEST FOURTH STREET NEW YORK NY 100121119 135562308 501(C)(3) 778871 N/A N/A SUPPORT FOR THE DR. JOEL SCHUMAN RESEARCH FUND 2 0 RESEARCH AWARDS 5 6000 N/A PART I, LINE 2: GRANTS TO ORGANIZATIONS: GRANTS FROM UNRESTRICTED NET ASSETS ARE MADE AT THE DISCRETION OF THE FOUNDATION'S BOARD OF DIRECTORS (BOARD). GRANTS FROM RESTRICTED NET ASSETS COMPLY WITH ALL DONOR-IMPOSED RESTRICTIONS. GRANTS TO INDIVIDUALS: THE ALBERT C. MUSE PRIZE WAS ESTABLISHED IN 2001 BY THE EYE & EAR FOUNDATION OF PITTSBURGH TO HONOR WORLD LEADERS IN THE FIELDS OF OPHTHALMOLOGY AND OTOLARYNGOLOGY. THE EYE & EAR FOUNDATION'S MISSION IS TO SUPPORT THE DEPARTMENTS OF OPHTHALMOLOGY AND OTLARYNGOLOGY AT THE UNIVERSITY OF PITTSBURGH, ITS SCHOOL OF MEDICINE AND THE UNIVERSITY OF PITTSBURGH MEDICAL CENTER. THE MUSE PRIZE ALTERNATES ANNUALLY BETWEEN OPHTHALMOLOGY AND OTOLARYNGOLOGY, CARRIES A CASH AWARD OF $5,000, AND RECOGNIZES INDIVIDUALS WHO HAVE MADE SIGNIFICANT, PROGRESSIVE CONTRIBUTIONS TO SCIENCE AND MEDICINE IN THESE SPECIALTIES. ELGIBILITY: THE 2015 ALBERT C. MUSE PRIZE IN OTOLARYNGOLOGY IS OPEN TO ALL INDIVIDUALS WHO HAVE MADE EXTRAORDINARY CONTRIBUTIONS TO OTOLARYNGOLOGY. THERE IS NO GEOGRAPHICAL RESTRICTION ON CANDIDATES. EACH NOMINATION WILL BE REVIEWED BY A SELECT PANEL OF JUDGES INCLUDING OTOLARYNGOLOGISTS FROM THE UPMC DEPARTMENT OF OTOLARYNGOLOGY, A NATIONAL LEADER IN OTOLARYNGOLOGY RESEARCH AND CLINICAL INNOVATION. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, ALL OF THE POWERS OF THE BOARD OF DIRECTORS EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE POWER TO AMEND OR REPEAL THESE BYLAWS OR TO ADOPT NEW BYLAWS; TO FILL VACANCIES IN, CHANGE THE NUMBER OF, OR REMOVE MEMBERS OF THE BOARD OF DIRECTORS; TO DISSOLVE, REMOVE MEMBERS OR CHANGE THE NUMBER OF, OR FILL VACANCIES IN, THE EXECUTIVE COMMITTEE; OR TO AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF DIRECTORS WHICH BY ITS TERMS SHALL NOT BE AMENDABLE OR REPEALABLE. IT SHALL BE THE DUTY OF THE EXECUTIVE COMMITTEE TO SUPERVISE THE OPERATIONS OF THE CORPORATION BETWEEN MEETINGS OF THE BOARD. ANY ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE RATIFIED BY THE BOARD OF DIRECTORS AT ITS MEETING NEXT FOLLOWING THE ACTION. THE EXECUTIVE COMMITTEE SHALL MEET ON THE CALL OF THE CHAIRMAN OF THE CORPORATION AT SUCH TIMES AND PLACES AS SHALL BE DESIGNATED BY HIM. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP: JOEL S. SCHUMAN, M.D., JONAS T. JOHNSON, M.D., DEEPINDER K. DHALIWAL, M.D., EUGENE N. MYERS, M.D., AND JENNIFER GRANDIS, MD. (EXITED 12/2014). FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS SHALL ELECT ALL MEMBERS OF THE BOARD, EXCEPT THE UNIVERSITY OF PITTSBURGH DIRECTORS. UNIVERSITY OF PITTSBURGH SHALL HAVE THE RIGHT TO APPOINT TWO UNIVERSITY DIRECTORS. THE EYE & EAR FOUNDATION'S EXECUTIVE COMMITTEE HAS THE POWER TO NOMINATE NEW MEMBERS TO THE BOARD OF DIRECTORS. THE FULL BOARD THEN VOTES ON THE ELECTION THE POTENTIAL NEW BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE BOARD CHAIRMAN AND BOARD TREASURER. A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE FULL BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED AT THE ANNUAL MEETING AT WHICH TIME DIRECTORS ARE REQUESTED TO UPDATE THEIR ANNUAL CONFLICT DISCLOSURES AND ACKNOWLEDGE THEIR COMPLIANCE WITH THE POLICY. FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTATION IS AVAILABLE UPON REQUEST. FORM 990, PART VII ARTHUR S. LEVINE, MD IS AN EX-OFFICIO OF THE ORGANIZATION WITH NO VOTING RIGHTS. FORM 990, PART XII, QUESTION 2, OVERSIGHT OF THE FINANCIAL STATEMENT AUDIT: THE FOUNDATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE FOUNDATION HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.