Guiding Eyes For The Blind - Finances

Finances

Guiding Eyes is a 501(c)(3) nonprofit organization, funded via private donations. The school does not charge tuition, rather the dogs, training, students' room and board for 26 days and a follow-up support are provided at no cost to the student.

According to Charity Navigator, GEB had income of $19 million for fiscal year 2009/2010 and assets of $50 million. GEB is an accredited BBB organization and has received a 54.57 rating, or three of four possible stars, at Charity Navigator, not meeting criteria for transparency related to the process of determining compensation of the CEO and not meeting criteria for audited financials.

GEB's biggest fundraiser is an annual golf tournament which has been hosted for the past six years by Eli Manning, quarterback for the New York Giants. The tournament was founded by former professional golfer and golf broadcaster Ken Venturi in 1977 and each year awards the Corcoran Cup, named after Fred Corcoran. GEB's founder, Don Kauth, had encouraged Richard “Dick” Ryan to start a golf tournament. Ryan, an attorney, was GEB's board chairman and represented Augusta National Golf Club. Ryan agreed, naming the tournament after his business partner, Corcoran. The golf tournament, sponsored by Entergy, Pepsi and others, has raised over $7 million for Guiding Eyes since its creation in 1977.

Since 2008, Guiding Eyes has operated an e-storefront with Lands End via that company's Business Outfitters division. Customers can order clothing embroidered with logos associated with the dog breeds bred and trained by Guiding Eyes in their work: yellow and black Labrador Retrievers, Golden Retrievers and German Shepherds. The artwork was produced by a company in Norwalk, Connecticut, TFI/Envision.

In 2010, Guiding Eyes initiated expansion of its canine development center from 16,000 square feet to 30,000sf in a three-phase $7.8 million construction project. The first phase included a whelping kennel and outdoor work area; the second phase, projected for 2013 will include a breeding and puppy socialization kennel; and the third phase will include a 1,500-square foot veterinary hospital.

Charity Watch rates Guiding Eyes for the Blind a "B" grade.

Read more about this topic:  Guiding Eyes For The Blind

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