Fraunhofer Usa Inc
- Assets
- $28.5m
- Revenue
- $21.6m
- Investments
- $6.0m
- Employees
- 143
- Location
- Plymouth, MI
- Founding
- 01/1996
- Data as of
- 12/2022
- EIN
- 38-3203030
Organization Overview
Fraunhofer Usa Inc is located in Plymouth, MI. The organization was established in 1996. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2022, Fraunhofer USA Inc employed 143 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fraunhofer USA Inc 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, Fraunhofer USA Inc generated $21.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $21.2m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCE THE TECHNOLOGICAL COMPETENCE AND KNOWLEDGE OF THE U.S. MANUFACTURING INDUSTRY BY FOSTERING ADVANCED TECHNOLOGICAL RESEARCH AND DEVELOPMENT AND INNOVATIVE METHODS OF TECHNOLOGICAL EDUCATION FOR THE BETTERMENT OF THE GENERAL PUBLIC AND THE ACADEMIC, SCIENTIFIC, AND MANUFACTURING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FRAUNHOFER USA OPERATES THREE CENTERS, SIX LOCATIONS, THROUGHOUT THE USA. EACH CENTER IS DEVOTED TO A DIFFERENT TYPE OF TECHNOLOGICAL RESEARCH, SUCH AS SUSTAINABLE ENERGY SYSTEMS AND LASER TECHNOLOGY. THE FRAUNHOFER CENTERS UNDERTAKE ADVANCED RESEARCH PROJECTS TO DEVELOP KEY TECHNOLOGICAL INNOVATIONS IN MAJOR AREAS OF PUBLIC CONCERN AND EDUCATE PARTICIPANTS IN A VARIETY OF TECHNICAL DISCIPLINES. THE RESEARCH IS DONE TO BENEFIT THE U.S. INDUSTRY AS A WHOLE, AND IS OFTEN DONE IN COLLABORATION WITH EDUCATIONAL INSTITUTIONS IN FURTHERANCE OF ITS EXEMPT SCIENTIFIC AND EDUCATIONAL PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Endrik Wilhelm Chairman | Trustee | 2 | $0 |
Prof Alexander Kurz Vice-Chairman | Trustee | 2 | $0 |
J Michael Bowman Board Member | Trustee | 1 | $0 |
Dr Brian Darmody Board Member | Trustee | 1 | $0 |
Dr John F Reid Board Member | Trustee | 1 | $0 |
Steve Williams Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Game Seven Staffing Llc Staffing Agency | 12/30/22 | $425,947 |
Triple Crown Consulting Llc Staffing Agency | 12/30/22 | $203,280 |
Merrill Weiss Group Llc Consulting | 12/30/22 | $157,575 |
Plante & Moran Llp Audit / Consulting | 12/30/22 | $146,958 |
Actalent Inc Staffing Agency | 12/30/22 | $127,985 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,317,163 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,317,163 |
| Total Program Service Revenue | $11,530,068 |
| Investment income | $108,024 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,584 |
| Net Gain/Loss on Asset Sales | -$416,425 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,587,195 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,499 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $866,678 |
| Compensation of current officers, directors, key employees. | $578,421 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,696,288 |
| Pension plan accruals and contributions | $976,043 |
| Other employee benefits | $950,717 |
| Payroll taxes | $692,676 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $288,212 |
| Fees for services: Accounting | $158,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,207,338 |
| Advertising and promotion | $129,589 |
| Office expenses | $413,931 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $809,400 |
| Travel | $246,346 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,176 |
| Interest | $1,461 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,216,284 |
| Insurance | $75,045 |
| All other expenses | -$22,085 |
| Total functional expenses | $21,202,562 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $12,964,327 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,856,951 |
| 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 | $444,336 |
| Net Land, buildings, and equipment | $2,519,309 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,994,076 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,711,762 |
| Total assets | $28,491,011 |
| Accounts payable and accrued expenses | $7,965,891 |
| Grants payable | $0 |
| Deferred revenue | $1,180 |
| 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 | $2,544,415 |
| Total liabilities | $10,511,486 |
| Net assets without donor restrictions | $17,979,525 |
| Net assets with donor restrictions | $0 |
| 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 | $28,491,011 |