Focused Ultrasound Foundation
- Assets
- $44.1m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 58
- Location
- Charlottesville, VA
- Founding
- 05/2007
- Data as of
- 12/2021
- EIN
- 20-5744808
Organization Overview
Focused Ultrasound Foundation is located in Charlottesville, VA. The organization was established in 2007. According to its NTEE Classification (G9B) the organization is classified as: Surgical Specialties, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 12/2021, Focused Ultrasound Foundation employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Focused Ultrasound Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Focused Ultrasound Foundation generated $8.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $9.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Focused Ultrasound Foundation has awarded 36 individual grants totaling $3,261,912. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZE, CONDUCT, AND FUND RESEARCH, FOSTER COLLABORATION THROUGH MEETINGS, SYMPOSIA AND WORKSHOPS, CULTIVATE THE NEXT GENERATION THROUGH FELLOWSHIPS AND INTERNSHIPS, AND COLLECT AND DISSEMINATE KNOWLEDGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCELERATION OF THE WORLDWIDE ADOPTION OF FOCUSED ULTRASOUND TECHNOLOGY THROUGH RESEARCH, COLLABORATION, COLLECTION AND DISSEMINATION OF KNOWLEDGE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neal F Kassell Director, Chairman, President | OfficerTrustee | 40 | $462,430 |
Timothy Meakem Chief Medical Officer | 40 | $255,547 | |
Emily White Director Of Operations | 40 | $223,945 | |
Jessica Foley Chief Scientific Officer | 40 | $197,332 | |
Lauren Powlovich Associate Chief Medical Officer | 40 | $183,167 | |
Jessica Lukens Director Of Administration | Officer | 40 | $175,754 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,347,621 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,934,953 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,282,574 |
| Total Program Service Revenue | $0 |
| Investment income | $559,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $30,150 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,886,317 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $947,362 |
| Grants and other assistance to domestic individuals. | $19,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $898,135 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $837,984 |
| Compensation of current officers, directors, key employees. | $69,747 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,024,379 |
| Pension plan accruals and contributions | $108,246 |
| Other employee benefits | $398,814 |
| Payroll taxes | $315,542 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,883 |
| Fees for services: Accounting | $41,892 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,114,507 |
| Advertising and promotion | $0 |
| Office expenses | $97,051 |
| Information technology | $222,196 |
| Royalties | $0 |
| Occupancy | $207,307 |
| Travel | $19,127 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,913 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64,238 |
| Insurance | $57,530 |
| All other expenses | $29,955 |
| Total functional expenses | $9,692,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,694,744 |
| Pledges and grants receivable | $15,490,196 |
| Accounts receivable, net | $86,096 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $78,429 |
| Net Land, buildings, and equipment | $212,336 |
| Investments—publicly traded securities | $11,038,079 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $471,508 |
| Total assets | $44,071,388 |
| Accounts payable and accrued expenses | $119,896 |
| Grants payable | $567,587 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $89,243 |
| Total liabilities | $776,726 |
| Net assets without donor restrictions | $24,815,283 |
| Net assets with donor restrictions | $18,479,379 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $44,071,388 |
Grants Awarded
Over the last fiscal year, Focused Ultrasound Foundation has awarded $937,363 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
Ann Arbor, MI PURPOSE: RESEARCH | $173,298 |
VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY PURPOSE: RESEARCH | $150,000 |
Redwood City, CA PURPOSE: RESEARCH | $127,006 |
NAVITAS CLINICAL RESEARCH INC PURPOSE: RESEARCH | $112,282 |
Washington, DC PURPOSE: RESEARCH | $96,000 |
New York, NY PURPOSE: RESEARCH | $73,757 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Focused Ultrasound Foundation has recieved totaling $2,000.
| Awarding Organization | Amount |
|---|---|
Mountain Laurel Foundation Wilmington, DE PURPOSE: GENERAL PURPOSES | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Society Of Cataract & Refractive Surgery Fairfax, VA | $11,891,572 | $16,090,211 |
Focused Ultrasound Foundation Charlottesville, VA | $44,071,388 | $8,886,317 |
American Academy Of Otolaryngology- Head And Neck Surgery Inc Alexandria, VA | $30,684,607 | $7,780,725 |
American Society Of Transplant Surgeons Arlington, VA | $4,321,288 | $6,243,973 |
American Society Of Breast Surgeons Columbia, MD | $8,586,887 | $6,074,092 |
Asca Foundation Alexandria, VA | $6,488,650 | $2,091,878 |
American Academy Of Facial Plastic Reconstructive Surgery Alexandria, VA | $1,902,372 | $1,860,628 |
Association Of Military Surgeons Of The U S Gaithersburg, MD | $4,436,953 | $2,160,727 |
Association Of Program Directors In Surgery Bethesda, MD | $2,796,198 | $1,108,879 |
American College Of Oral And Maxillofacial Surgeons Washington, DC | $1,592,225 | $836,708 |
American Board Of Facial Plastic And Reconstructive Surgery Inc Alexandria, VA | $1,319,045 | $752,186 |
National Surgical Assistant Association Washington, DC | $184,330 | $609,304 |