Our Financials
Financial sustainability is essential to our success as LVS expands to meet the ever-increasing demand for vision and eye health services across South Carolina. In the first half century of our existence prudent financial investments in LVS have built buildings, purchased new equipment, hired talented staff, launched new programs, and touched lives in every corner of the state.
Today LVS manages over $2.0 million in assets including regional grant-funded programs, donor directed funds, and an organizational endowment. We remain committed to responsible stewardship of these resources that will keep us positioned to thrive in eras of prosperity and equipped to sustain seasons of challenge and uncertain in the economy, both locally and globally.
The LVS fiscal year begins on July 1 and ends on June 30.
Total Assets
From the fiscal year ending June 30, 2024.
Revenue
Our 2024 Fiscal Year saw a strong Annual Fund campaign which brought in over $750,000 from individuals, foundations, corporations, and Lions Clubs. Lions Club giving rebounded from a slump in the prior fiscal year, achieving a 54% club participation rate, but did not quite return to the 2022 fiscal year level. Endowment giving supplemented our annual operations and increased our investment assets.
Expenses
During Fiscal Year 2024, $0.92 of every $1.00 at LVS was invested in program-related expenses. While LVS monitors this ratio, we believe a budget analysis should more holistically include all "Core Mission Support" in program costs to better reflect the total cost of nonprofit services.
The largest programmatic expense was the expansion of the Affordable Eye Surgery Program, which accounted for 76% of LVS operations.
Endowment
The LVS Endowment provides the organization with increased financial stability and allows us to utilize endowment earnings to supplement programmatic needs and LVS operations when needed. LVS manages its endowment with a long-term growth mindset that has produced an average of 5% growth per year over the last 10 years.
Most endowment assets are unrestricted, but LVS currently has three restricted funds including:
- Greenville Lions Club Fund
- Sumter Lions Club Fund
- PID Gene and Lion Rita Spiess Fund
Securities offered by Capital Investment Brokerage, Inc. Members FINRA & SIPC. Registered investment advisory services by Clearstead Advisory Solutions, a division of Clearstead Advisors, LLC. LVS endowment assets held by Charles Schwab Institutional.
Lions Vision Services maintains a Platinum Seal of Transparency from Candid and a Four-Star rating from Charity Navigator.
Thank you to the patrons and partners who generously support our work.