New Eyes for the Needy does not meet the following 2 Standards for Charity Accountability:
Standard 6 (Board Policy on Effectiveness)
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.
New Eyes does not meet this Standard because:
- The board of directors does not have a written policy stating that, at least every two years, an appraisal be done assessing the organization’s performance and effectiveness and determining future actions required to achieve its mission.
Standard 7 (Board Approval of Written Report on Effectiveness)
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.
New Eyes does not meet this Standard because:
- The organization has not completed an effectiveness assessment in the last two years.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability:
10
New Eyes for the Needy meets the remaining 17 Standards for Charity Accountability.
New Eyes for the Needy (New Eyes) reports that it partners with social service agencies and the optical industry to provide new prescription eyeglasses through a voucher program to low-income children and adults in the United States. In 2020-2021, New Eyes reports that it distributed glasses to 9,268 people in the United States and distributed 140,000 used and manufactured surplus glasses were distributed in three countries.
For the year ended March 31, 2021, New Eyes for the Needy's program expenses were:
| Program services |
$435,071 |
| Total Program Expenses: |
$435,071 |
-
Chief Executive
Jean Gajano, Executive Director
-
Compensation*
$89,061
-
Chair of the Board
Kristine Van Amsterdam
-
Chair's Profession / Business Affiliation
Retired, Federal Reserve Bank of Boston
-
Board Size
10
-
Paid Staff Size
5
*2020 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Cause- related marketing (affinity credit cards, consumer product sales, etc.)
Fundraising costs were 15% of related contributions. (Related contributions, which totaled $457,993, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on New Eyes for the Needy's audited financial statements for the year ended March 31, 2021.
| Source of Funds |
| Realized and unrealized gains on investments |
$1,159,192 |
| Individual and corporate donations |
$304,947 |
| Investment income, net |
$102,173 |
| Special events |
$99,500 |
| Sales of donated jewelry, metals, hearing aids, frames |
$36,064 |
| Government contributions |
$34,235 |
| Grants |
$16,500 |
| Other income |
$7,627 |
| Donated services |
$2,811 |
| Total Income |
$1,763,049 |
- Programs: 77%
- Fundraising: 12%
- Administrative: 11%
| Total Income |
$1,763,049 |
| Program expenses |
$435,071 |
| Fundraising expenses |
$68,867 |
| Administrative expenses |
$64,801 |
| Other expenses |
$0 |
| Total expenses: |
$568,739 |
| Income in Excess of Expenses |
$1,194,310 |
| Beginning Net Assets |
$3,712,502 |
| Other Changes In Net Assets |
$0 |
| Ending Net Assets |
$4,906,812 |
| Total Liabilities |
$60,704 |
| Total Assets |
$4,967,516 |
Note: According to the organization's audited financial statements for the year ended March 31, 2021, New Eyes received in-kind contributions totaling $2,811 in the form of jewelry appraisal and repair services.