Fusion Power Associates
- Assets
- $237.9k
- Revenue
- $176.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Gaithersburg, MD
- Founding
- 00/0000
- Data as of
- 12/2023
- EIN
- 52-1162794
Organization Overview
Fusion Power Associates is located in Gaithersburg, MD. The organization was established in 0000. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fusion Power Associates 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 12/2023, Fusion Power Associates generated $176.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $176.7k during the year ending 12/2023. While expenses have increased by 3.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCIENCE AWARDS GIVEN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Stephen O Dean President Officer | 20 | $78,000 | |
Ruth A Watkins Vice-President Administrator | 5 | $11,610 | |
Prof Mohamed Abdou Director | 1 | $0 | |
Dr Michael Campbell Director | 1 | $0 | |
Dr Tammy MA Director | 1 | $0 | |
Mr David Babineau Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $634 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,575 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $868 |
| Capital Gain Net Income | $868 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $171,691 |
| Total Revenue | $176,768 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $89,610 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,115 |
| Depreciation | $0 |
| Occupancy | $6,600 |
| Travel, conferences, and meetings | $56,424 |
| Printing and publications | $543 |
| Other expenses | $16,957 |
| Total operating and administrative expenses | $176,224 |
| Contributions, gifts, grants paid | $500 |
| Total expenses and disbursements | $176,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,936 |
| Savings and temporary cash investments | $94,751 |
| Net Accounts receivable | $21,430 |
| 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 | $56,805 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $237,922 |
| Accounts payable and accrued expenses | $860 |
| Grants payable | $0 |
| Deferred revenue | $130,987 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $131,847 |
Grants Awarded
Over the last fiscal year, Fusion Power Associates has awarded $1,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NIKOLAI NORAUSKY PURPOSE: SCIENCE | $500 |
ZACH HARTWIG PURPOSE: SCIENCE | $500 |