2013-05-07T09:38:20-05:00 2012-06-30 251408703 SCHNEIDER DOWNS & CO INC 1133 PENN AVENUE PITTSBURGH PA 15222 990 2011-07-01 251439732 EYE AND EAR FOUNDATION EYEA 4128641300 200 LOTHROP ST NO 251 PITTSBURGH PA 15213 PAUL R VITTONE 4128641300 2013-05-07 1 SUSAN M KIRSCH P00341397 4122613644 2011 2016-03-07 17:11:31Z X GEORGE A FECHTER 200 LOTHROP ST NO 251 PITTSBURGH PA 15213 5438121 0 X WWW.EYEANDEAR.ORG X 1983 PA ADVANCING ACADEMIC & RESEARCH EFFORTS OF OTOLARYNGOLOGY & OPHTHALMOLOGY DEPTS. AT UNIV. OF PITT. 19 19 0 14 -3688 -3688 983210 697831 0 0 297305 -215211 0 2180 1280515 484800 1933431 1371149 0 0 0 0 0 0 290655 387309 486116 2320740 1857265 -1040225 -1372465 28180945 26682667 178853 135889 28002092 26546778 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 1394532 1371149 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. 1394532 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 0 0 1 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 19 19 1 0 1 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 DEEPINDER K DHALIWAL MD LAC 0.50 X 0 0 0 DOUGLAS P DICK 0.50 X 0 0 0 LOUIS J FOX 0.50 X 0 0 0 ALBERT C MUSE 0.50 X 0 0 0 B GORDON NELSON III 0.50 X 0 0 0 HUBERTA S SICILIANO 0.50 X 0 0 0 VIOLET SOFFER 0.50 X 0 0 0 CYNTHIA SUNSERI 0.50 X 0 0 0 BRUCE WIEGAND 0.50 X 0 0 0 ALDO ZINI 0.50 X 0 0 0 JENNIFER R GRANDIS MD FACS 0.50 X 0 0 0 JONAS T JOHNSON MD FACS 0.50 X 0 0 0 EUGENE N MYERS MD FACS FRCS 0.50 X 0 0 0 JOEL S SCHUMAN MD FACS 0.50 X 0 0 0 ARTHUR S LEVINE MD 0.50 X 0 0 0 GEORGE A FECHTER 0.50 X X 0 0 0 CHARLES R BRODBECK ESQ 0.50 X X 0 0 0 PAUL R VITTONE 0.50 X X 0 0 0 LAWRENCE N GUMBERG 0.50 X X 0 0 0 0 0 0 0 0 0 0 0 2093 695738 697831 446449 -3688 450137 4291661 4953321 -661660 -661660 -661660 MISCELLANEOUS INCOME 900099 2180 2180 2180 484800 2180 -3688 -211523 1357790 1357790 13359 13359 42778 42778 30488 30488 69734 69734 21200 21200 10184 10184 5063 3026 2037 5352 5352 4577 4577 512 512 EEF OPERATION EXPENSE 271490 271490 SCIENTIFIC ADVISORY COM 18523 18523 MOVING EXPENSES 2800 2800 EVENT COSTS 1592 1592 1823 283 1540 1857265 1394532 172078 290655 290435 267210 132795 80299 190465 168202 27567250 26166956 28180945 26682667 53853 135889 125000 0 178853 135889 X 19302555 17826283 6323922 6409745 2375615 2310750 28002092 26546778 28180945 26682667 X -1372465 -82849 X X 0 1 1 X 0 X 3210711 152506 246875 983209 697831 5291132 3210711 152506 246875 983209 697831 5291132 1210841 4080291 586946 509927 462818 456522 446449 2462662 67620 335 2180 70135 7823929 0.52150 0.38700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2375615 -26577 38288 2310750 2001415 430686 56486 2375615 1839375 194692 32652 2001415 2467831 -589608 38848 1839375 0.00000 1.00000 0.00000 0 0 0 PUBLIC EQUITY FUNDS 17907468 F PRIVATE EQUITY FUNDS 1692223 F FIXED INCOME FUNDS 5321493 F COMMODITY FUNDS 1245772 F 26166956 484800 1857265 -1372465 -82849 -82849 -1455314 401951 -82849 -82849 484800 0 484800 1857265 0 1857265 0 1857265 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED INVESTMENT FUNDS ESTABLISHED FOR PERPETUAL SUPPORT OF THE FOUNDATION'S MISSION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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 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 2009. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 1245772 0 0 0 0 0 0 1245772 0 1245772 1 0 1 1 0 0 1 UNIVERSITY OF PITTSBURGH 203 LOTHROP AVE PITTSBURGH PA 15213 250965591 501(C)(3) 1357790 N/A N/A GENERAL SUPPORT FOR ACADEMIC RESEARCH 1 0 MUSE PRIZE TO HONOR LEADERS IN FIELDS OF OPHTHALMOLOGY & OTOLARYNGOLOGY 8 13359 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: 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 2011 ALBERT C. MUSE PRIZE IN OPHTHALMOLOGY IS OPEN TO ALL INDIVIDUALS WHO HAVE MADE EXTRAORDINARY CONTRIBUTIONS TO OPHTHALMOLOGY. THERE IS NO GEOGRAPHICAL RESTRICTION ON CANDIDATES. EACH NOMINATION WILL BE REVIEWED BY A SELECT PANEL OF JUDGES INCLUDING OPHTHALMOLOGISTS FROM THE UPMC DEPARTMENT OF OPHTHALMOLOGY, A NATIONAL LEADER IN OPHTHALMOLOGY RESEARCH AND CLINICAL INNOVATION. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIP: ARTHUR S. LEVINE, M.D., JOEL S. SCHUMAN, M.D., JONAS T. JOHNSON, M.D., DEEPINDER K. DHALIWAL, M.D., EUGENE N. MYERS, M.D., AND JENNIFER R. GRANDIS, M.D. FORM 990, PART VI, SECTION A, LINE 4 IN FEBRUARY, 2012, THE BYLAWS OF EYE AND EAR FOUNDATION WERE AMENDED. FOLLOWING IS A SUMMARY OF THE SIGNIFICATN CHANGES: 1. ARTICLE II, SECTION 2 - SPECIFY THAT THE UNIVERSITY OF PITTSBURGH (THE "UNIVERSITY") HAS THE RIGHT TO APPOINT TWO DIRECTORS (THE "UNIVERSITY DIRECTORS"), CONSISTENT WITH THE AMENDED AND RESTATED ARTICLES OF INCORPORATION OF THE FOUNDATION. 2. ARTICLE II, SECTION 4 - SPECIFY THAT THE UNIVERSITY HAS THE RIGHT TO FILL ANY VACANCIES AMONG THE UNIVERSITY DIRECTORS. 3. ARTICLE IV, SECTION 7 - CLARIFY THAT THE TREASURER MAY DELEGATE CERTAIN FUNCTIONS, SUCH AS MAINTENANCE OF BOOKS AND RECORDS, AND PREPARATION OF OPERATING AND CAPITAL BUDGETS. 4. ARTICLE V - ADD THE EXECUTIVE COMMITTEE AS A STANDING COMMITTEE, CONSISTENT WITH CURRENT OPERATIONS OF THE FOUNDATION. 5. ARTICLE VI, SECTION 1 - REQUIRE ACCEPTANCE OF GIFTS IN ACCORDANCE WITH A GIFT ACCEPTANCE POLICY, IF ONE IS ADOPTED. 6. ARTICLE X - CLARIFY THAT INDEMNIFICATION OF OFFICERS AND DIRECTORS BY THE FOUNDATION MUST BE CONSISTENT WITH THE FOUNDATION'S STATUS AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE TAX CODE. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF DIRECTORS OF THE CORPORATION SHALL ELECT ALL MEMBERS OF THE BOARD OF THE CORPORATION, EXCEPT THE UNIVERSITY DIRECTORS. UNIVERSITY OF PITTSBURGH SHALL HAVE THE RIGHT TO APPOINT TWO UNIVERSITY DIRECTORS. THE BOARD OF DIRECTORS OF THE CORPORATION SHALL BY RESOLUTION CLASSIFY THE MEMBERS OF THE BOARD OF THE CORPORATION IN RESPECT TO THE TIME FOR WHICH THEY SHALL SEVERALLY HOLD OFFICE BY DIVIDING THEM INTO THREE CLASSES OF AS NEARLY EQUAL NUMBER AS POSSIBLE. 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 PRESIDENT AND CHAIR OF THE FINANCE COMMITTEE. 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 JOSEPH F. NOVAK, MD IS A DIRECTOR EMERITUS OF THE ORGANIZATION WITH NO VOTING RIGHTS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -82,849. 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. FORM 990, PART VI, SECTION B, LINE 15: EYE AND EAR FOUNDATION DOES NOT COMPENSATE ANY INDIVIDUALS FOR BOARD OR EMPLOYMENT SERVICES. FORM 990 REQUIRES EYE AND EAR FOUNDATION TO DISCLOSE COMPENSATION PAID BY ITS SUPPORTED ORGANIZATION, UNIVERSITY OF PITTSBURGH, FOR SERVICES THE INDIVIDUALS PROVIDE TO THE UNIVERSITY OF PITTSBURGH. COMPENSATION IS AWARDED BY THE UNIVERSITY OF PITTSBURGH PURSUANT TO A PROCESS THAT SATISFIES THE REQUIREMENTS OF THE INTERMEDIATE SANCTIONS REGULATIONS.