Optometric Center of New York
Mission:
To provide scholarships to students and support vision care services to underserved men, women and children as well as funding for research.
https://www.sunyopt.edu/giving
| 33 W 42ND ST New York NY 10036-8005
Optometric Center of New York is headquartered in New York, NY, and is a 501(c)(3) organization. EIN: 13-1819472. Donations are tax-deductible. The IRS NTEE classification code is B820, Scholarships, Student Financial Aid Services, Awards within the Educational Institutions and Related Activities category. The IRS ruling year for tax exemption was 1957.
(Source: IRS Business Master File and Form 990)
Encompass Rating System by Charity Navigator
Charity Navigator’s Encompass Rating System evolves on a quarterly basis as we add new metrics and indicators, which we call Beacons. Check back often to see how this organization’s score changes.
Learn about the Encompass Rating System: Announcement | FAQ | Release Notes
Overall Score
BETA
100
out of 100
This charity's score is a passing score.
This overall score is calculated from multiple beacon scores, with the organization's Impact & Results score contributing 60% of the overall score, while its Finance & Accountability score contributes 40%.
Do you work for Optometric Center of New York? Gain access to your rating toolkit.
This organization is potentially eligible for a Charity Navigator Star Rating. Vote Now to request to have our analyst team rate Optometric Center of New York for a Star Rating. The organization currently has 0 votes.
Finance & Accountability
Charity Navigator evaluates a nonprofit organization’s financial health including measures of stability, efficiency and sustainability. We also track accountability and transparency policies to ensure the good governance and integrity of the organization.
Finance & Accountability Score
BETA
100
out of 100
This charity's score is a passing score
This Beta V2 of the Finance & Accountability Score provides a baseline measure of an organization’s health including the indicators listed in the report below.
This score represents Form 990 data from latest filing year 2019.
Finance & Accountability Rating Highlights
Higher Effect on Score
19/20
Independent Board Composition
We look for at least 3 board members, with more than 50% of members identified as independent.
Lower Effect on Score
0.79%
Liabilities to Assets Ratio
We look for a ratio less than 50%.
No Effect on Score
$1,839,574
Total Revenue
We do not evaluate revenue amounts or sources in Beta V2. An organization’s size can affect whether and how we evaluate other indicators.
Finance & Accountability Report
100
of 100 points (BETA)
This beta feature is currently viewable only on desktop or tablet screens. Check back later for updates.
Program Expense Ratio
78.14%
Higher effect on score
More data
The Program Expense Ratio is determined by Program Expenses divided by Total Expense (average of most recent three 990s).
Charity Navigator awards full credit for a Program Expense percentage of 70% or higher. Charities with percentages between 60-69.9% receive partial credit. Percentages below 60% grant no credit for the Program Expense score. Further, charities that fall below 50% will receive zero points for both of their financial metric scores, Program Expense percentage AND Liabilities to Assets percentage.
Source: IRS Form 990
Board Composition
19/20 Independent
Higher effect on score
Charity Navigator looks for at least 3 board members, with more than 50% of those members identified as independent.
Source: IRS Form 990
Independent Review or Financial Audit
Audited
Higher effect on score
For organizations larger than $1million in total revenue we expect to see that the charity completed an audit.
This indicator is not part of the score for organizations less than $250k in total revenue and is removed from the scoring methodology.
For charities under $1 million but over $250K in total revenue we expect to see that the charity completed an Audit, Review or Compilation.
Source: IRS Form 990
Liabilities to Assets Ratio
0.79%
Lower effect on score
The Liabilities to Assets Ratio is determined by Total Liabilities divided by Total Assets (most recent 990).
Charity Navigator awards full credit for a ratio less than 50%. Organizations with ratios between 50% and 59.9% receive partial credit.
Source: IRS Form 990
Website
Listed
Lower effect on score
Charity Navigator looks for a website on the Form 990 as an accountability and transparency metric.
Nonprofits act in the public trust and reporting publicly on activities is an important component.
Source: IRS Form 990
Conflict of Interest Policy
Missing
Lower effect on score
Charity Navigator looks for the existence of a conflict of interest policy on the Form 990 as an accountability and transparency measure.
This policy protects the organization and by extension those it serves, when it is considering entering into a transaction that may benefit the private interest of an officer, director and/or key employee of the organization.
Source: IRS Form 990
Board Meeting Minutes
Missing
Lower effect on score
Charity Navigator looks to confirm on the Form 990 that the organization has this process in place as an accountability and transparency measure.
An official record of the events that take place during a board meeting ensures that a contemporaneous document exists for future reference.
Source: IRS Form 990
Document Retention and Destruction
Missing
Lower effect on score
Charity Navigator looks for the existence of a document retention and destruction policy per the Form 990 as an accountability and transparency measure.
This policy establishes guidelines for the handling, backing up, archiving and destruction of documents. These guidelines foster good record keeping procedures that promote data integrity.
Source: IRS Form 990
Whistleblower Policy
Missing
Lower effect on score
Charity Navigator looks for the existence of a whistleblower policy per the Form 990 as an accountability and transparency measure.
This policy outlines procedures for handling employee complaints, as well as a confidential way for employees to report financial or other types of mismanagement.
Source: IRS Form 990
Additional Information
Unscored
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Total Revenue and Expenses
This chart displays the trend of revenue and expenses over the past several years for this organization, as reported on their IRS Form 990.
Salary of Key Persons
Presented here are up to five of the highest compensated employees listed on page 7 of the IRS Form 990. This compensation data is displayed exactly how it is reported to the IRS. The amounts include salary, cash bonuses, and expense accounts. The amounts do not include nontaxable benefits, deferred compensation, or other amounts not reported on Form W-2. Read the IRS policies for compensation reporting here.
DAWN RIGNEY, ED & SECRETARY
$50,347
BARBARA SALTZMAN, PRESIDENT
$0
THOMAS FARRELL, VICE PRESIDENT
$0
GEORGE SPIROPOULOS, TREASURER
$0
RICHARD FEINBLOOM, PAST PRESIDENT
$0
Source: IRS Form 990, filing year 2019
Business Master File Data
The Exempt Organization IRS Business Master File (BMF) includes cumulative information the IRS collects and displays for all exempt organizations. The data is updated monthly. Below are some key data points from the BMF for this organization. View information about the BMF on the IRS website here.
Activities:
Scientific research (diseases) (BMF activity code: 161)
Contact or sponsored scientific research for industry (BMF activity code: 180)
Other health services (BMF activity code: 179)
Foundation Status:
Organization which receives a substantial part of its support from a governmental unit or the general public 170(b)(1)(A)(vi) (BMF foundation code: 15)
Affiliation:
Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations). (BMF affiliation code: 3)
Data Sources: IRS Forms 990
The IRS Form 990 is the source of the finance and accountability data used within the Encompass Rating System. When an organization is eligible for a Finance & Accountability beacon score, each metric is based on elements of the 990. Some metrics are based on the most recent available filing, while others are based on averages of values over multiple years. We provide links to all available 990s here, whether or not this organization is eligible for a Finance & Accountability score.
IRS Forms 990 are provided courtesy of Foundation Center.
Impact & Results
Charity Navigator assesses how well a nonprofit delivers on its mission. To issue an Impact & Results score, we estimate the actual impact a nonprofit has on the lives of those it serves, and determine whether it is making good use of donor resources to achieve that impact.
Impact & Results Score
BETA
100
out of 100
This charity is highly cost-effective, earning a passing score.
Impact
$6,600 increases income for a scholarship recipient in need by $11,000.
Framework
Impact Analysis
We use impact analysis to rate service delivery nonprofits. We are developing new frameworks for assessing advocacy, systems change and similar nonprofits.
Data Collector
ImpactMatters
Do you work at Optometric Center of New York? Share your impact data to update your score.
Impact & Results Report
100
of 100 points (BETA)
This beta feature is currently viewable only on desktop or tablet screens. Check back later for updates.
Rated Program
Program
Scholarship Program
Activities
Optometric Center Of New York grants scholarships to beneficiaries.
Program Type
Postsecondary Scholarships
Beneficiaries Served
People living in poverty; Students
Program Geography
New York, NY
Time Period of Data
7/1/16 to 6/30/17
Outcomes and Cost
Outcomes: Changes in the lives of those served by a nonprofit. They can be caused by the nonprofit.
Costs: The money spent by a nonprofit and its partners and beneficiaries.
Impact: Outcome caused by a nonprofit relative to its cost.
Cost-effectiveness: A judgment as to whether the cost was a good use of resources to cause the outcome.
Outcome Metric
Increase in income for a scholarship recipient
Outcome Data Source
Ratings are based on data the nonprofit itself collects on its work. We use the most recent year with sufficient data. Typically, this data allows us to calculate direct changes in participants' lives, such as increased income.
Output data collected during the program. Optometric Center Of New York publicly reports data on the dollar value of all scholarships it grants and the number of scholarship recipients, which we use to calculate the additional income that the nonprofit's scholarship program generates.
Method for Attributing Outcomes
We don't know if the observed changes were caused by the nonprofit's program or something else happening at the same time (e.g., a participant got a raise). To determine causation, we take the outcomes we observe and subtract an estimate of the outcomes that would have happened even without the program (i.e., counterfactual outcomes).
We estimate the increase in income caused by a nonprofit's scholarship program in two steps. First, we compare the estimated postsecondary graduation rate of its scholars to that of comparable students who did not receive a scholarship (the "counterfactual"). Our estimates are drawn from rigorous social science studies of similar scholarship programs. The result is the number of scholars whose graduation was caused by the nonprofit. Second, we compare the earnings of graduates to non-graduates based on publicly available census data, matching on student demographic characteristics. We apply the earnings boost owing to a degree to those scholars whose graduation was caused by the nonprofit. Both steps are necessary to properly net out counterfactual successes from observed successes. Otherwise, we would be attributing changes (increase in graduation rate and increase in earnings) to the nonprofit when they would have happened anyway. Few nonprofits estimate the counterfactual themselves, so we construct our own counterfactual estimate based on research and publicly available data.
Cost Data Source
After estimating the program's outcomes, we need to determine how much it cost to achieve those outcomes. All monetary costs are counted, whether they are borne by a nonprofit service deliverer or by the nonprofit’s public and private partners.
Cost data reported by Optometric Center of New York and data and assumptions about partner and beneficiary costs.
Cost Calculation
$504,502 program costs + $39,697 partner costs + $39,697 beneficiary costs = $583,895 total costs
Impact and Determination
We calculate impact, defined as the change in outcomes attributable to a program divided by the cost to achieve those outcomes.
Impact Calculation
$583,895 total costs / $971,195 additional income = roughly $7000 increases income for a scholarship recipient in need by $10000.
Benchmark for Rating
Impact & Results scores of postsecondary scholarship programs are based on income generated relative to cost. Programs receive an Impact & Results score of 100 if they increase income for a recipient by more than $1.50 for every $1 spent and a score of 75 if income increases by more than $0.85 for every $1 spent. If a nonprofit reports impact but doesn't meet the benchmark for cost-effectiveness, it earns a score of 50.
Determination
Highly cost-effective
Why We Could Be Wrong
- The outcome could oversimplify total impact. Using "increased income" as the metric of analysis may not intuitively convey the potential downstream benefits of receiving a scholarship, such as reduced financial stress. Additionally, our methodology may simplify the differing effects a scholarship has on different populations, such as refugees or people with illnesses.
- There could be multiple important outcomes not captured in our analysis.
- The nonprofit may be spending additional money in order to serve harder-to-reach and/or particularly valuable populations.
- In the absence of better data, we assume uniform counterfactual rates for programs, at the risk of masking variation across nonprofits.
- Our estimates rely on data made public by the nonprofit on its website, annual reports, financial statements and Form 990s.
- We only analyze programs that meet our criteria. As a result, this report may not fully reflect the impact of the nonprofit.
- We do not assess what explains the nonprofit's cost-effectiveness.
Analysis Details
Analysis conducted in 2019 by ImpactMatters. An analyst searched the Form 990s, annual reports, audited financials and the website of Optometric Center of New York to calculate impact and rate cost-effectiveness. A second analyst conducted quality control.
Additional Information
Unscored
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Largest Programs
Optometric Center of New York reported its three largest programs on its FY 2019 Form 990 as:
$1,151,368
Spent in most recent FY
59%
Percent of program expenses
Clinical Support - From its founding, the Optometric Center of New York ("OCNY") has always focused on helping underserved men, women and children in the New York City area by supporting vision care c ... (More)
$537,984
Spent in most recent FY
27%
Percent of program expenses
Student Support - OCNY provides scholarships to students who have academic merit and financial need. These scholarships help attract the best and brightest students from around the country.
$242,320
Spent in most recent FY
12%
Percent of program expenses
International Programs OCNY administered a program to expand the colleges role into China by helping to establish a center of excellence in low vision at Wenzhou Medical College. This will enrich its ... (More)
GuideStar Seal of Transparency by Candid
GuideStar Seal not earned
We display the GuideStar Seal of Transparency for organizations that have earned Gold or Platinum levels. We encourage nonprofit organizations to submit their data with Candid. Click here for more information.
Note: GuideStar Seals do not effect the nonprofit’s Impact & Results Score.
GlobalGiving
GlobalGiving Badge not earned
GlobalGiving is the largest global crowdfunding community connecting nonprofits, donors, and companies in nearly every country. For donors, GlobalGiving provides an additional layer of vetting and due diligence for each of its nonprofit partners every two years, which may include site visit verification. Learn more about GlobalGiving.
Note: GlobalGiving Badges do not effect the nonprofit’s Impact & Results score.
Leadership & Adaptability
Charity Navigator will provide an assessment of the organization’s leadership capacity, strategic planning, and the ability to readily innovate or respond to changes in constituent demand/need or other relevant social and economic conditions to achieve the organization’s mission.
Culture & Community
Charity Navigator will provide an assessment of the organization’s people operations, its engagement with the constituents served, and its Diversity, Equity and Inclusion (DEI) metrics.
Culture & Community Score
BETA
Not Scored
This organization is not eligible for a Culture & Community score. See report below to find out why.
Encompass Rating Beta V3 provides an evaluation of an organization's Culture and Community by measuring its Constituent Feedback practices. (See report below.) Constituent Feedback data provides 100% of the basis for the initial evaluation of the Culture & Community Beacon. Other metrics will be added later in the year.
Culture & Community Report
Not Scored
This beta feature is currently viewable only on desktop or tablet screens. Check back later for updates.
Constituent Feedback
Constituent Feedback and Listening Practice data are not available for this organization. Nonprofit organizations are encouraged to fill out the How We Listen section of their Candid profile. This data will provide the basis for the initial evaluation of Culture & Community.
Charity Navigator believes nonprofit organizations that engage in inclusive practices, such as collecting feedback from the people/communities they serve, may be more effective. We award every nonprofit that completes the Candid survey full credit for this Beacon, in recognition of their willingness to publicly share this information with the nonprofit and philanthropic communities. Although the data is not evaluated for quality at this time, future iterations of this Beacon will include third party or other data that will serve to validate the information provided by the nonprofit.
Analysis and Research
Like the Encompass Rating System, the Culture & Community Beacon is designed to evolve as relevant metrics are developed and ready for integration. Our partnership with Feedback Labs and Guidestar by Candid, and other partners including Fund for Shared Insight, GlobalGiving and Keystone Accountability, enables us to launch the first version of this beacon with Constituent Feedback information collected on Candid's site.
Feedback practices have been shown to support better Diversity, Equity, and Inclusion outcomes, an essential area of assessment that we intend to further expand and develop in the future. Feedback Labs has documented several studies which indicate that beyond achieving organizational goals, nonprofits that are attentive and responsive to concerns and ideas raised by beneficiaries establish stronger relationships with the people they serve, promote greater equity, and empower constituents in ways that can help to ensure better long-term outcomes. You can find resources to help nonprofits improve their feedback practices here.
Nonprofit Comment
Before publishing, we ask every nonprofit we can to review our work, offer corrections and provide a comment.
This nonprofit did not provide a comment