The New England College of Optometry
The New England College of Optometry reported $31.9 million in revenue and $26.4 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $71.30 went to program services, $27.10 to management and general costs and $1.60 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 82.0% of the total. The highest compensation it reported for one person was $714,722 (PRESIDENT). 43 people received more than $100,000 in reportable compensation. Revenue rose 18% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $26MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $32MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 71.3% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 27.1% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.6% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.38 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 3.5% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.4% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 82.0% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $714,722 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 2.71% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 43 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 38.1 | 13.3 |
| Independent voting board members Part VI 1a–1b | 16 of 18 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseOptometric education (didactic instruction and clinical training) - the New England College of Optometry is an independent graduate school that educates students to become outstanding doctors of optometry who exemplify professionalism and compassion in the communities in which they serve. The curriculum optimizes the synergistic relationship between the didactic and clinical experience, utilizing both traditional and innovative pedagogical practices to ensure a learning experience that is student-centered and engaging, and reflective of the evolving landscape of eye care, healthcare, and…
Research - the college advances the frontiers of optometric knowledge and translates that knowledge to improve patients' lives worldwide by reducing vision loss and transforming the delivery of eye care. Neco maintains an international reputation in clinically relevant areas of research including myopia, pediatric, low vision rehabilitation, and vision science. Faculty actively engage in research supported by the nih, other federal agencies, foundations, and industry partners, while mentoring graduate and professional students who participate in these projects. In fy2025 the college received…
International programs - the New England College of Optometry is committed to the development of partnerships and educational programs that advance the quality of vision and eye care globally through partnerships and sponsorships with colleges and universities in europe, asia and the middle east. Neco faculty have played a key role in extending optometric education to other countries, including china, israel, and spain in fy2025
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Director/trustee, officer, 40.00 hrs/week | $651,662 | $0 | $63,060 | $714,722 |
| TREASURER/EVP/COO Officer, 40.00 hrs/week | $517,308 | $0 | $43,143 | $560,451 |
| VP/DEAN Key employee, 40.00 hrs/week | $307,902 | $0 | $23,960 | $331,862 |
| VP/PROFESSIONAL AFFAIRS Key employee, 40.00 hrs/week | $204,786 | $0 | $20,478 | $225,264 |
| PROFESSOR Highest compensated employee, 40.00 hrs/week | $177,543 | $0 | $38,759 | $216,302 |
| EXEC DIR FIN OPERATIONS Highest compensated employee, 40.00 hrs/week | $182,902 | $0 | $29,676 | $212,578 |
| PROFESSOR Highest compensated employee, 40.00 hrs/week | $185,018 | $0 | $26,618 | $211,636 |
| TRUSTEE/PROFESSOR Director/trustee, 40.00 hrs/week | $177,697 | $0 | $29,465 | $207,162 |
43 people received more than $100,000 in reportable compensation from The New England College of Optometry (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.4M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b18 · 16 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5369
- Volunteers Part I, line 650
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| PRIMO COMPANY INC Building contractor services | $274,345 |
| UNIVERSITY OF PENNSYLVANIA Subcontract research | $197,040 |
| JONES ARCHITECTURE INC Architecture design services | $196,880 |
| RECORD ELECTRIC CO INC Building contractor services | $172,095 |
| EASE LEARNING Learning design services | $149,967 |
Individuals listed as contractors are left out. 6 contractors were paid more than $100,000 in all.
Private foundation grants it received
5 private foundations reported grants to The New England College of Optometry totaling $28,575 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The New England College of Optometry's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The New England College of Optometry, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The New England College of Optometry spent in FY2025, $71.30 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- College of the AtlanticBar Harbor, ME · revenue $32M · programs 82.5% · FY2025
- Foundation Academy Charter SchoolTrenton, NJ · revenue $32M · programs 83.9% · FY2025
- Lourdes UniversitySylvania, OH · revenue $32M · programs 83.1% · FY2025
- Florida CollegeTemple Terrace, FL · revenue $32M · programs 79.0% · FY2025
- Christel House AcademyIndianapolis, IN · revenue $32M · programs 96.4% · FY2025
All education charities · Largest charities in Massachusetts
Questions people ask
How much of The New England College of Optometry's spending goes to programs?
In the fiscal year ending June 30, 2025, The New England College of Optometry reported that 71.3% of its $26.4 million in expenses went to program services, 27.1% to management and general and 1.6% to fundraising (Form 990, Part IX).
How much does The New England College of Optometry pay its top executive?
The largest total compensation The New England College of Optometry reported for one person in the fiscal year ending June 30, 2025 was $714,722, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The New England College of Optometry get its money?
Of $31.9 million in revenue in the fiscal year ending June 30, 2025, 3.5% came from contributions and grants (including 0.4% from government grants) and 82.0% from program service revenue (Form 990, Part VIII).
Is The New England College of Optometry a registered charity?
The IRS lists EIN 04-1591060 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202610769349301206 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541049349300534 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202420719349301157 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301149349301075 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202211339349306436 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111209349301481 · read the filing
All filings for EIN 04-1591060: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.