EIN 36-2310478

Illinois College of Optometry (ICO)

IRS 501(c) type
501(c)(3)
Num. employees
599
Year formed
1955
Most recent tax filings
2023-06-01
Description
The Illinois College of Optometry (ICO) is a 4-year private optometry college located in the city of Chicago, Illinois. Graduating approximately 160 optometrists a year, it is the largest optometry college in the United States.
Total revenues
$38,494,231
2023
Total expenses
$36,782,950
2023
Total assets
$100,230,863
2023
Num. employees
599
2023

Program areas at ICO

GENERAL EDUCATIONAL SERVICES AT THE ILLINOIS COLLEGE OF OPTOMETRY (ICO): Classroom instruction for Doctor of Optometry Degree; Continuing Education and Faculty Research serving approximately 480 students per year. ICO's 4-year program is focused entirely on optometry. Our students receive robust clinical experience, including hands-on patient care in the IEI beginning in their very first year. Understanding that being a doctor extends beyond eye care, ICO offers courses in financial literacy, practice management, and other real-world aspects of optometry. Our top-notch resources expose students to tomorrow's technologies and modes of practice.
DORMITORY: The Residential Complex provides affordable and safe on-campus living quarters for optometry students, prospective students, visitors, and their families. The RC hosts events to promote camaraderie and healthy student life. In addition, exam lanes are available in the RC for the exclusive use of its residents.
CLINIC: The Illinois Eye Institute (IEI) acts as a safety net provider of eye and vision services for the Chicago area, serving diverse patients with complex needs. The clinic received approximately 82,000 patient visits in the previous year (51,000 to providers, 31,000 to optical). The site is a vital community resource for Medicaid and Medicare carriers, as well as underinsured and uninsured patients. Specialty areas of the clinic include (but are not limited to) Pediatrics, Development Disability Clinics, Binocular Vision Service, Urgent Care, Cornea and Contact Lenses, Glaucoma Care, Retina and Vitreous Care, and Low Vision Care. The IEI acts as a teaching clinic that aides in the education of students as they pursue Doctor of Optometry degrees.
The organization receives other program service revenue related to its bookstore, faculty research, student loans and administration of Illinois eye institute.

Who funds Illinois College of Optometry (ICO)

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Children's Care FoundationGeneral Support$125,000
Lloyd A Fry FoundationTo Address the Unmet Vision and Eye Care Needs of CPS Students and Low-Income Adults$50,000
The Alcon FoundationEye Care$50,000
...and 11 more grants received

Personnel at ICO

NameTitleCompensation
Christa OjedaVice President of Business and Finance and Chief Financial Officer$221,038
Amit ChoksiSenior Director of Information Technology and Chief Information Officer$180,069
Leonard MessnerVice President for Strategy and Institutional Advancement / Vice President for Patient Care Services and Executive Director of Illinois Eye Institute / Vice President for Patient Care Services and Executive Director of the Illinois Eye Institute / Vice President of Patient Care$235,270
Laura RounceVice President of Physical and Human Resources$210,708
Erik MothersbaughDean for Student Affairs / Dean of Student Affairs$205,951
...and 8 more key personnel

Financials for ICO

RevenuesFYE 06/2023
Total grants, contributions, etc.$3,365,977
Program services$31,029,342
Investment income and dividends$1,561,259
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$2,273,302
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$264,351
Total revenues$38,494,231

Form 990s for ICO

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-14990View PDF
2022-062023-05-12990View PDF
2021-062022-05-11990View PDF
2020-062021-04-05990View PDF
2019-062020-02-06990View PDF
...and 9 more Form 990s
Data update history
September 21, 2024
Received grants
Identified 5 new grant, including a grant for $50,000 from Lloyd A Fry Foundation
July 15, 2024
Updated personnel
Identified 4 new personnel
July 9, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 18, 2024
Received grants
Identified 2 new grant, including a grant for $125,000 from Children's Care Foundation
February 3, 2024
Received grants
Identified 5 new grant, including a grant for $50,000 from The Alcon Foundation
Nonprofit Types
SchoolsHigher ed institutionsHeadquarter / parent organizations
Issues
EducationCommunity improvementBusiness and industry
Characteristics
LobbyingState / local levelReceives government fundingEndowed supportProvides scholarshipsTax deductible donationsAccepts online donations
General information
Address
3241 S Michigan Ave
Chicago, IL 60616
Metro area
Chicago-Naperville-Elgin, IL-IN-WI
County
Cook County, IL
Website URL
ico.edu/ 
Phone
(312) 949-7000
Facebook page
IllinoisCollegeOfOptometry 
Twitter profile
@ico_optometry 
IRS details
EIN
36-2310478
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1955
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
B42: Undergraduate College (4-year)
NAICS code, primary
611310: Colleges, Universities, and Professional Schools
Parent/child status
Central organization
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