Fusion Power Associates
- Assets
- $224.5k
- Revenue
- $163.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Gaithersburg, MD
- Founding
- 00/0000
- Data as of
- 12/2022
- 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 12/2022, Fusion Power Associates generated $163.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $163.3k during the year ending 12/2022. While expenses have increased by 2.8% per year over the past 8 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
2022
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 | $76,700 | |
Ruth A Watkins Vice-President Administrator | 5 | $7,620 | |
Prof Mohamed Abdou Director | 1 | $0 | |
Dr Tammy MA Director | 1 | $0 | |
Mr David Babineau Director | 1 | $0 | |
Dr Michael Campbell Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $7,363 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,929 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,751 |
| Capital Gain Net Income | $2,751 |
| Net ST Capital Gain | $67 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $151,618 |
| Total Revenue | $163,661 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $84,320 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,438 |
| Depreciation | $0 |
| Occupancy | $8,080 |
| Travel, conferences, and meetings | $47,779 |
| Printing and publications | $55 |
| Other expenses | $16,627 |
| Total operating and administrative expenses | $162,274 |
| Contributions, gifts, grants paid | $1,000 |
| Total expenses and disbursements | $163,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,855 |
| Savings and temporary cash investments | $88,988 |
| Net Accounts receivable | $22,900 |
| 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 | $224,548 |
| Accounts payable and accrued expenses | $326 |
| Grants payable | $0 |
| Deferred revenue | $119,510 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $119,836 |
Grants Awarded
Over the last fiscal year, Fusion Power Associates has awarded $1,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ZACH HARTWIG PURPOSE: SCIENCE | $500 |
NIKOLAI NORAUSKY PURPOSE: SCIENCE | $500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fusion Power Associates has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Institute Of Electrical And Electronics Engineers Inc Piscataway, NJ PURPOSE: Engineering Development | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
A & N Electric Cooperative Tasley, VA | $203,944,683 | $76,232,163 |
Adams Electric Cooperative Inc Gettysburg, PA | $218,291,432 | $70,869,610 |
Mecklenburg Electric Cooperative Chase City, VA | $225,505,928 | $70,294,200 |
Prince George Electric Cooperative Waverly, VA | $95,021,320 | $41,941,155 |
Northern Neck Electric Cooperative Inc Warsaw, VA | $102,277,241 | $40,320,421 |
Tri-County Rural Electric Cooperative Inc Mansfield, PA | $151,909,574 | $33,038,928 |
Barc Electric Cooperative Millboro, VA | $141,938,050 | $35,646,972 |
United Electric Cooperative Inc Du BOIS, PA | $114,867,848 | $31,031,818 |
Central Electric Cooperative Inc Parker, PA | $123,976,880 | $28,207,685 |
Community Electric Cooperative Windsor, VA | $55,165,460 | $23,292,666 |
Somerset Rural Electric Cooperative Inc Somerset, PA | $44,691,676 | $24,950,814 |
Rea Energy Cooperative Inc Indiana, PA | $139,260,164 | $26,641,958 |