About Cornea Research Foundation
Annual Audit Results
Each year the Foundation undergoes an audit conducted by a local accounting firm in Indianapolis. The audit provides a detailed management report to the Board of Directors with related metrics. Our 2007 expense ratios and our revenue percent to total are shown below:
As you can see, the Foundation manages its expenses prudently; its management fees are modest and below the level of many not-for-profits. The bulk of our expenses relate directly to our mission of research and physician and patient education programs. When examining the revenues, you can see that contributions and research study income are almost equal, demonstrating our balanced commitment to fundraising and research.
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From left to right, Marianne Price, Ph.D., Director of Research and Education; Sara Dugdale, Clinical Research Nurse; Elaine Voci, Development Director; Clorissa Quillin, Clinical Research Study Coordinator; Annette Cooke, Clinical Research Study Coordinator. Missing: Andrea Wills, O.D. optometrist
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The Cornea Research Foundation of America (CRFA) was founded by Dr. Francis Price, Jr., M.D. in 1988 with a mission to establish a world center for clinical research and education specializing in corneal disease, corneal transplantation and intraocular lens surgery. A visionary physician, Dr. Price understood that corneal surgeries were increasing, in part, due to complications following cataract surgeries. He recognized a void in clinical research: to determine the most significant risk factors for increased failure rates in post-cataract patients. In response, he created a database to store and track preoperative, surgical and postoperative statistics for transplants performed since 1982 within Price Vision Group.
His efforts were strengthened when the Indiana Lions Bank became involved with CRFA in 1990. Their contributions have helped maintain the burgeoning information database that now houses data on over 5,000 transplants. Although the Foundation's primary focus is on transplant data, its mission has evolved to include research of the excimer laser used in refractive surgeries. The excimer uses a "cold" laser to vaporize a minute area of the cornea to correct three conditions: nearsightedness, farsightedness and astigmatism.
In 1991, the Foundation began participating in FDA Investigational Studies* involving the use of the excimer. While previous studies sponsored by excimer manufacturers focused on gaining marketing approval for lasers, Price Vision Group was granted approval for three of its own Investigational Device Exemption (IDE) studies to evaluate the LASIK (laser-assisted in situ keratomileuisis) procedure using the excimer laser. These studies centered on improved patient safety, various therapeutic means to improve visual results, and the effect of age, gender and smoking on visual results, areas that laser manufacturers would not have pursued or funded.
Patient consent is obtained for studies using human subjects. All prospective studies are done with Institutional Review Board approval and in accordance with applicable National Institute of Health and Federal Drug Administration guidelines.
Since its inception, the Foundation has been led by Dr. Price's passion for innovation, lifelong learning and, to date, CRFA has participated in 70 clinical and investigational studies and published over 90 papers and manuscripts (see Publications link on this site). The Foundation also holds regular seminars and courses for physicians, as well as patients, regarding developments in ophthalmology. Visionary, a newsletter published by the Foundation four times a year, is disseminated to patients, ophthalmologists and optometrists.
These contributions have earned the Foundation an international reputation as a leader in ophthalmic research.
* FDA Investigational Studies are carried out on either drugs or devices
prior to their approval for sale.
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