In 2003, the LEI revised its basis of incorporation from a public benevolent charitable institution to a not-for profit limited liability company.

The LEI employs scientists, clinicians, and support staff to conduct scientific research into blindness with known ophthalmic practices in Australia.

The LEI actively participates in numerous clinical trials for the development of new treatments for eye diseases, in collaboration with scientists, ophthalmologists, and pharmaceutical companies.

The Institute receives funds from clinic operations and its grants from organisations such as the National Health and Medical Research Council, individual benefactors and the LSSF.

[10] Research carried out by the Institute teams led to the first retinal vein bypass treatment of blockages,[11] and the development of the first transgenic mouse model for Age-Related Macular Degeneration, the leading cause of blindness for people over 55.

[12] The LEI is acknowledged as a core academic centre involved in clinical trials of new pharmaceutical therapies and surgical procedures before government approval.