Financial sustainability is essential to our success as LVS expands to meet the ever-increasing demand for vision and eye health services within low-income households 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 $1.5 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.
From the fiscal year ending *June 30, 2022.
*Pre-audit financial data may change slightly during our independent audit. Please consult our most recent Annual Audit Statement for final numbers.
Our 2022 Fiscal Year saw a record-breaking Annual Fund campaign which brought in over $515,000 from individuals, foundations, corporations, and Lions Clubs. Lions Club giving increased by more than $5,000 despite a smaller number of Clubs contributing (66 Clubs, 54%).
Historically $0.94 of every $1.00 at LVS is invested in program-related expenses. We anticipate our Audit confirming this trend this year as Vision Screenings resumed following the Covid Pandemic, the Eyeglasses Program expanded, and the Santee Blind Fishing Event was managed by LVS for the first time.
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 9 years.
Most endowment assets are unrestricted, but LVS currently has one Donor Advised Fund created by a family in the Upstate. In addition to Donor Advised Funds, LVS also offers Field-of-Interest Funds for more restricted purposes. Gift Annuities and other complex planned gifts may be provided as well.
LVS maintains roughly 3 months of Operating Reserves in a separate account for sustainability.
Securities offered by Capital Investment Brokerage, Inc. Members FINRA & SIPC. Registered investment advisory services by Wilbanks, Smith & Thomas Management, LLC. LVS endowment assets held by Charles Schwab Institutional.
Lions Vision Services maintains a Platinum Seal of Transparency from Candid (previously known as GuideStar), the highest rating available.
Thank you to the patrons and partners who generously support our work.