2012-12-14T13:05:51-06:00 2011-12-31 GRANT THORNTON LLP 666 THIRD AVENUE NEW YORK NY 100174057 990 2011-01-01 131096620 Lighthouse International % JOHN VLACHOS LIGH 2128219200 111 EAST 59TH STREET NEW YORK NY 10022 Mark Ackerman 2012-12-14 2125990100 2011 2016-02-24 21:20:13Z mark ackermann 111 EAST 59TH STREET NEW YORK NY 10022 45111667 false X WWW.LIGHTHOUSE.ORG X 1906 NY Lighthouse International is dedicated to fighting vision loss through prevention, treatment and empowerment. 24 23 175 2150 420997 24186523 15681017 1588387 1636512 2205080 6973528 2650190 630944 30630180 24922001 60000 102000 0 0 18005967 17873160 0 0 3650979 12467234 8886860 30533201 26862020 96979 -1940019 98370290 90471699 59649935 67132619 38720355 23339080 X LIGHTHOUSE INTERNATIONAL FOR THE 21ST CENTURY: HELPING MILLIONS WITH VISION LOSS FOUNDED IN 1905, LIGHTHOUSE INTERNATIONAL IS THE LEADING NON-PROFIT ORGANIZATION WORLDWIDE DEDICATED TO FIGHTING VISION LOSS THROUGH PREVENTION, TREATMENT AND EMPOWERMENT. THE NEED FOR VISION HEALTH CARE SERVICES IS MORE CRITICAL NOW THAN AT ANY TIME IN OUR HISTORY DUE TO THE AGING OF OUR POPULATION AND CONDITIONS SUCH AS MACULAR DEGENERATION AND DIABETES, WHICH ARE both RISING IN RECORD NUMBERS. THE STATISTICS ARE COMPELLING: THERE ARE 314 MILLION PEOPLE WORLDWIDE that ARE VISUALLY IMPAIRED- 45 MILLION that ARE BLIND AND 269 MILLION that HAVE LOW VISION. IN THE U.S. ALONE, 20 MILLION PEOPLE AGE 45+ SELF-REPORT VISION IMPAIRMENT. LIGHTHOUSE INTERNATIONAL IS RESPONDING TO THIS VISION LOSS EPIDEMIC BY: - PROVIDING MORE CRITICALLY NEEDED VISION HEALTHCARE SERVICES TO PREVENT AND TREAT EYE DISEASE, AND TO REDUCE THE DISABLING EFFECTS OF VISION LOSS - PRESERVING VISION THROUGH THE EARLY DETECTION AND MANAGEMENT false false 2121458 62869 Rehabilitation Services provide rehabilitation and training to assist individuals with impaired or no vision learn new skills, strategies for safe travel, and techniques to manage various activities of daily living including: homemaking, food preparation cooking, grooming, personal financial management, and medication management in order to enjoy safe and independent lives. 4524402 309102 The Child Development Center provides comprehensive services to meet the individual needs of children with vision impairment from birth to age five through an Early Intervention Program that helps toddlers with vision problems reach developmental milestones; and a uniquely integrated preschool, where children who are visually impaired learn alongside those with fully functional eyesight for a more enriched educational experience. 2266951 663087 Low Vision Services INCLUDE SPECIALIZED EYE EXAMINATION BY LOW VISION providers, including optometrists, TO EVALUATE A PERSON'S REMAINING VISION AND OVERALL VISUAL FUNCTION. The goals are to maximize existing vision - often with the use of prescribed optical devices - and to enhance quality of life at any age. 1121690 1500 1. Career and youth services 1750660 0 2. Early Intervention 238504 0 3. Outreach 1950476 73102 4. Music and Print access services 432483 0 5. Research 1085639 50753 6. Volunteer/social services 1007874 455673 7. Consumer products 638184 20426 8. Social Services 443676 0 9. Education and Advocary 809466 102000 0 10. Policy and advocacy 1870334 0 11. 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Grassroots lobbying is accomplished by contacting the public through a legislative action website, www.lighthouse.org/advocacy, to urge them to contact their legislators or other governmental officials for the purposes of making them aware of issues relating to vision impairment. Direct contact with legislators or their staff, government officials, or a legislative body occurs through the engaging of two lobbyists (one on the federal level and one on the New York State level) as well as occasional visits to Washington D.C. and Albany, N.Y. by management and the clinical team. The amounts reported on Schedule C ($40,000) represent amounts that Lighthouse paid to a lobbyist to advocate on sight-related issues for Lighthouse International. 19703627 350000 -187344 706385 19159898 21169249 50000 1657157 1191410 1981369 19703627 19614894 350000 1254355 50000 21169249 20150044 1566803 -2101953 19614894 0.65500 0.34500 true false 353490 353490 44603744 23360997 21242747 10571555 8380737 2190818 23787055 INVESTMENTS HELD UNDER SPLIT 3401789 F MARKETABLE EQUITY LONG/SHORT 4125211 F MARKETABLE MULTI-STRATEGY 11737644 F INTEREST IN PERPETUAL TRUSTS 8738232 F 28002876 0 CHARITABLE ANNUITY AGREEMENTS 2323326 PENSION BENEFITS 14394959 16718285 24922001 26862020 -1940019 -6894284 -6546971 -13441256 -15381274 17921225 -6894284 -482062 -7376346 25297571 204941 -580511 -375570 24922001 27237590 580511 580511 26657079 204941 204941 26862020 Endowments Part V The organization's endowment is maintained by The Bank of New York Mellon for the purposes of funding future program services undertaken by the Lighthouse. The endowment may also be used to make future principal and interest payments on the organization's New York City Industrial Development Authority tax-exempt bonds. Historically, the lighthouse followed the disclosure provisions of, "Endowments of Not-for-Profit Organizations," as the State of New York had not yet enacted a version of the Uniform Prudent Management of Institutional funds Act ("UPMIFA"). Among other things, this guidance addressed the net assets classification of donor restricted endowment funds for organizations subject to an enacted version of the 2006 UPMIFA. On September 17, 2010, New York State passed its own version of UPMIFA ("NYPMIFA") legislation, which was consequently applied to the Lighthouse's consolidated financial statements as of December 3, 2010. A key component of this legislation is a requirement to classify the remaining accumulations related to the donor-restricted endowment fund that were previously recorded as additions to unrestricted net assets as temporarily restricted net assets until those amounts are appropriated for expenditure by the Lighthouse Board of Directors in a manner consistent with the standard of prudence prescribed by NYPMIFA. As a result of the adoption of NYPMIFA, the Lighthouse reclassified $7,210,223 as of December 31, 2010 from unrestricted net assets to temporarily restricted assets, representing accumulated unspent earnings from donor-restricted endowment funds. reconciliation of net assets Part XI, Line 8 Change split interest agreements $ (482,062) Loss on extinguishment of bonds $ (2,581,145) Minimum Pension Liability $ (3,483,764) ------------ $ (6,546,971) Reconciliation of revenue & Expense Schedule D, Part XII, Line 2(d) Change in Split Interest Agreements $ (482,062) Schedule D, Part XII, Line 4(b) & Schedule D, Part XIII, Line 2(d) Cost of Goods Sold Reclassed from Expenses $ 580,511 Liability for uncertain tax position : Fin 48 (ASC 740) Part X The Lighthouse follows the accounting guidance for uncertainties in income tax positions which require that a tax position be recognized or de-recognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken on a tax return. The Lighthouse does not believe its activities result in any uncertain tax positions. Central America and the Caribbean 0 0 Investments 12340309 0 0 0 0 12340309 12340309 true false true true true false Schedule F, Part IV, Foreign Investments Lighthouse International invests in various limited partnerships that may have interests in foreign partnerships or corporations. By virtue of its investment holdings, the Lighthouse likely made transfers to these foreign partnerships or corporations, but the amount transferred may not have met the thresholds required for the filing of the Forms referenced in Part IV of Schedule F. Posh sale 1330044 984812 345232 98520 5046 241666 grunwald award 343052 307839 35213 623 22892 11698 4 374585 173176 201409 2470 198939 2047681 1465827 581854 623 121412 7516 452303 581854 Form 990, Schedule G, Part II Lighthouse International is dedicated to fighting vision loss through prevention, treatment and empowerment. Essential to Lighthouse's mission is its ongoing fundraising efforts that enable it to research vision disorders, as well as provide educational information to the community. Lighthouse independently tracks the revenue generated by its fundraising endeavors. All data is compiled for financial statement purposes on an aggregate basis, therefore Lighthouse is unable to determine precisely how much of the gross revenue generated from special events is derived from pure contributions and how much for services rendered. To that end, Lighthouse is reporting, for 990 purposes, an amount as "services rendered" that equals the expense of conducting the event since it is reasonable to project that the costs of holding each event were passed through to the attendees. For 990 reporting purposes, the Lighthouse has opted to report its special events consistent with how they are presented in the financial statements. The amounts reported on Schedule G and Part VIII, Line 8 tie back directly to Special Events revenue as reported in the financial statements. The $581,854 in special event expenses, likewise, ties back to the financial statements and represents direct special event expenses. The Lighthouse does incur indirect and overhead expenses on its special events, but those expenses have been reported on Part IX, Functional Expenses, rather than on Part VIII (again, so that the 990 ties back to the financial statements). true Assistance to visually impaired students 6 72000 Annual Award to treat severe vision impairment 6 30000 Grants Part I, Line 2 Grants and awards are based on a written application and essay which are selected by an internal review committee. In addition, the Pisart Vision Award is granted to an individual who has made an extraordinary contribution to the prevention, treatment or cure of severe vision impairment or blindness. The selection is made by a committee of Lighthouse International personnel and other professionals. In 2011, Lighthouse provided 12 scholarships that totaled $102,000. X X X X true false false false false false false false false Mark G Ackermann 364000 0 72800 0 0 0 9800 0 20899 0 467499 0 0 0 Frank Angello 274451 0 45370 0 0 0 15595 0 3235 0 338651 0 0 0 Theodore Francavilla 171633 0 13750 0 146876 0 9561 0 19563 0 361383 0 0 0 Bruce P Rosenthal OD FAAq 238588 0 10620 0 0 0 12782 0 16350 0 278340 0 0 0 Maura Sweeney 274040 0 21875 0 0 0 12589 0 8541 0 317045 0 0 0 Hope Kessler 231388 0 11240 0 0 0 155788 0 15349 0 413765 0 0 0 Lisa Ferfoglia 188817 0 11423 0 0 0 8009 0 8405 0 216654 0 0 0 Barbara Gyde 194327 0 0 0 0 0 7118 0 13751 0 215196 0 0 0 Cynthia Stuen 213153 0 14490 0 0 0 141576 0 3586 0 372805 0 0 0 Schedule J, Part I, Line 4a Senior Vice President of Development, Hope Kessler and Senior Vice President, Chief Professional Affairs, Cynthia Stuen were awarded severance that was accrued and reported on the 2011 990, Schedule J Part II, Column C, as deferred Compensation. In 2012, their severance amounts will be paid and reported on their individual W2s and on the 2012 990 as Other Compensation. Executive Vice President, Theodore Francavilla received a severance payment of $146,876 in calendar year 2011. This severance payment is reflected in Schedule J, part II, column b(3). Process used to review form 990 FORM 990, PART VI, LINE 11 Form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft Form 990 was circulated to the full Board of Trustees for discussion and comment. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its filing with the Internal Revenue Service. Conflict of interest policy monitoring & enforcement FORM 990, PART VI, LINE 12 Lighthouse International's Conflict of Interest Policy for Directors, Officers and Other Key Employees is as follows: 1. SCOPE: The following statement of policy applies to each member of the Board and to all officers of Lighthouse International (LI). Further, it is intended to serve for the guidance of all persons employed by the institution regardless of position. 2. FIDUCIARY RESPONSIBILITY: Members of the Board, Officers, and staff serve a public-interest role and thus have a clear obligation to conduct all affairs of the Lighthouse International in a manner consistent with this concept. All decisions of the Board and Officers of the Administration of Lighthouse International are to be made solely on the basis of a desire to promote the best interests of Lighthouse International and the public good. 3. Any Board member or Officer must report a conflict, or potential conflict, of interest in the event that any transaction for Lighthouse International which also involves a 1)member of the Board or any officer of Lighthouse International or a member of his or her family or 2) an organization with which a member of the Board or any officer of Lighthouse International is affiliated, such board member or officer, at the first knowledge of the transaction, shall disclose fully the precise nature of the interest or involvement. 4. RESTRAINT ON PARTICIPATION: Directors or Officers who have declared or been found to have conflict of interest in any matter before the administration or the Board shall refrain from participating in consideration of the proposed transaction, unless for special reasons for the Board or Administration requests information or interpretation from the person or persons involved. The person or persons involved should not vote on such matters and should not be presented at the time of vote. 5. DISCIPLINARY ACTION: Violation of these standards by a member of the Board or by the President/CEO shall be addressed by the Board. Sanctions available to the Board in its discretion range from an oral or written admonishment to removal of a trustee from the Board for cause. In accordance with the Bylaws of the Board, any removal of a member of the Board for cause shall be by a vote of two-thirds (2/3) of all the trustees taken at a regular or special meeting. Violations of these standards by a Lighthouse International officer other than the President/CEO shall be addressed by the President/CEO. Sanctions available to the President range from an oral or written admonishment to termination of employment. Any Board member or Officer of Lighthouse International who is uncertain about possible conflict of interest in any matter, may request the Board to determine whether a possible conflict prevails; the Board shall resolve the question by majority vote. When possible, the question of potential conflict should be referred to counsel for an opinion prior to the Board's vote. Process for determining compensation FORM 990, PART VI, LINE 15 The Finance & Administration Committee of the Board of Directors of Lighthouse International reviews and approves corporate officers' compensation and benefit programs including the 401K plan annually, to ensure that programs are competitive and cost effective. Compensation decisions, including salary, bonus and other compensation, are recommended to the full Board of Directors for its approval. For all other employees, including key employees all recommendations are reviewed by human resources and the President/CEO. Human resources regularly reviews compensation through various external market surveys and sources. Deliberation includes evaluation of individual performance measured against personal and corporate goals. Availability of documents to the public FORM 990, PART VI, LINE 19 The organization makes its Form 990 available to the public by making the copy retained at its place of business readily available for public inspection. The Form 990 is also published on the internet at www.guidestar.org. The organization's financial statements, governing documents and conflict of interest policy are not ordinarily made available to the public, but, if requested, will be provided at management's discretion. Other Program Service Activities Form 990, Part III, line 4d In addition to the three largest program services, Lighthouse International undertakes the following other program activities: 1)Career services enable people with impaired vision to prepare for, obtain or retain a job in the competitive marketplace. Matching employers with qualified candidates and ensuring workplace accessibility for employees with vision loss are key components. Youth services empower teens with vision loss to build the confidence, socialization and independent living skills they need to achieve success in school and, ultimately, in the working world as self-sufficient adults. 2)Home based early intervention is dedicated to helping children with visual impairments and/or developmental delays from birth to three years of age. Programs help infants and toddlers with vision problems and developmental delays reach the same developmental milestones as their peers. 3)Outreach encompasses the development of strategic initiatives and activities to advance awareness of vision related issues, and provides education and referrals for the full range of services provided by the Lighthouse in the New York metropolitan area. 4)Music & Print access services includes The Filomen M. D'Agostino Greenberg Music School, the largest community music school for people of all ages with vision loss in the U.S.; and reading, audio and braille services that make print materials accessible to people without sight. Education and Advocacy - accredited professional continuing education courses in low vision care and vision rehabilitation, as well as paraprofessional training; outreach to raise awareness of vision impairment; and advocacy initiatives, which promote the rights of people with vision loss and their inclusion in mainstream society. Public Information is disseminated through various media to raise widespread awareness of the prevalence of vision loss, and to promote the importance of prevention and early intervention, as well as the benefits of vision rehabilitation for people who are partially sighted or blind. 5)Research that advances the UNDERSTANDING OF how people with vision loss function is conducted in the Arlene R. Gordon Research Institute. Lighthouse International is the only vision rehabilitation organization that has a research program. Investigators in this unique institute focus primarily on two areas: vision science, and the evaluation of Lighthouse programs and services. Consumer products span a wide range of lighting, magnifying and adaptive devices- all of which are designed to make life easier for people with vision loss. 6)Volunteers and Reading services recruit outstanding individuals including college interns and business professionals who give of their time and expertise to support our programs and mission. 7)Consumer Products include the Optical Dispensary and Retail and online lighthouse store which provide a wide range of lighting, magnifying and adaptive devices - all of which are designed to make life easier for people with vision loss - available to those who need them. 8)Social Services assist people and their families/caregivers in adjusting to and coping with vision loss, by addressing the emotional and psychological impact of the vision loss so that independence, dignity and quality of life are maintained. 9)Professional Education offers accredited professional continuing education courses in low vision care and vision rehabilitation as well as paraprofessional training. 10)Policy and Advocacy includes outreach to raise awareness of vision impairment; and advocacy initiatives, which promote the rights of people with vision loss and their inclusion in mainstream society. 11)Public information disseminates communications through various media outlets to raise widespread awareness of the prevalence of vision loss, and to promote the importance of prevention and early intervention, as well as the benefits of vision rehabilitation for people who are blind or visually impaired. paraprofessional training. Reconciliation of net assets Part XI, Line 5 Other Changes in Net Assets: Change split interest agreements $ (482,062) Loss on extinguishment of bonds $ (2,581,145) Minimum Pension Liability $ (3,483,764) Unrealized gain/(Loss) $ (6,894,284) ------------- $ (13,441,226) Lighthouse Intl Real Estate Holdings llc 111 East 59th Street New York NY 10022 Real Estate DE 4414672 24074834 Lighthouse