Fusion Academy Scholarship Foundation
- Assets
- $849.1k
- Revenue
- $174.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 09/2014
- Data as of
- 12/2022
- EIN
- 36-4776680
Organization Overview
Fusion Academy Scholarship Foundation is located in Grand Rapids, MI. The organization was established in 2014. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fusion Academy Scholarship 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 12/2022, Fusion Academy Scholarship Foundation generated $174.2k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $203.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Fusion Academy Scholarship Foundation has awarded 31 individual grants totaling $255,153. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jan Fielder President | 0.2 | $0 | |
Susan Saxe Treasurer | 0.2 | $0 | |
Robin Storfer Secretary | 0.2 | $0 | |
Randy Eisenman Board Member | 0.2 | $0 | |
Susan Mordecai Board Member | 0.2 | $0 | |
Jennifer Paven Board Member | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $174,188 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $174,188 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,262 |
| Total operating and administrative expenses | $21,708 |
| Contributions, gifts, grants paid | $181,385 |
| Total expenses and disbursements | $203,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $849,114 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $849,114 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Fusion Academy Scholarship Foundation has awarded $181,385 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
ALEXANDER CHERNY PURPOSE: TUITION ASSISTANCE | $2,385 |
ANALISE NEWMAN PURPOSE: TUITION ASSISTANCE | $5,000 |
CAITLYN CAT SHUMAN PURPOSE: TUITION ASSISTANCE | $10,000 |
CARLOS LOZANO PURPOSE: TUITION ASSISTANCE | $30,000 |
ARIELLA SHERMAN PURPOSE: TUITION ASSISTANCE | $20,000 |
ARIANNA TAYLOR PURPOSE: TUITION ASSISTANCE | $500 |