Wireless Power Consortium
- Assets
- $13.4m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Washington, DC
- Founding
- 11/2019
- Data as of
- 12/2023
- EIN
- 84-1773149
Organization Overview
Wireless Power Consortium is located in Washington, DC. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Wireless Power Consortium employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wireless Power Consortium is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Wireless Power Consortium generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.0% each year . All expenses for the organization totaled $8.8m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOARD OF DIRECTORS APPROVED THE FINAL DRAFT VERSIONS OF THE QI V2.0 INTERFACE SPECIFICATION AND THE V2.0 MPP TEST TOOL SPECIFICATIONS. QI V2.0 SOFT LAUNCH BEGAN OCTOBER, 2023 ENABLING MEMBERS TO TEST AND CERTIFY QI V2.0 PRODUCTS. WPC ALSO APPROVED THE COMMERCIAL REQUIREMENTS AND BEGAN STANDARDS DEVELOPMENT FOR QI FAST CHARGING.
SIGNIFICANT CHANGES AND IMPROVEMENTS MADE IN THE QUALITY AND OPERATIONS ORGANIZATIONS. WPC REVISED ITS TEST PLATFORM VALIDATION PROCESSES, TEST LAB AUTHORIZATION PROCESSES AND PRODUCT CERTIFICATION PROCESSES. WPC LAUNCHED NEW PRODUCT CERTIFICATION PLATFORM AND TEST RESULTS DATABASE. CHANGES ENABLE WPC TO SUPPORT MULTIPLE STANDARDS CONCURRENTLY AND SCALE OPERATIONS AND CERTIFICATION ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fady Mishriki Chair | OfficerTrustee | 4 | $0 |
Tony Francesca Vice Chair | OfficerTrustee | 4 | $0 |
Bernd Eckert Board Director | Trustee | 4 | $0 |
Hans Kablau Board Director | Trustee | 4 | $0 |
Vamshidhar Kandalla Board Director | Trustee | 4 | $0 |
Se Ho Park Board Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Administaff Inc (Insperity) Professional Employer Organization | 12/30/23 | $2,019,471 |
Prelude Event Architects Member Meeting Planning And Hosting | 12/30/23 | $1,734,064 |
Exhibit Concepts Inc Tradeshow Support | 12/30/23 | $536,531 |
Hugo & Cat Us System Design And Development | 12/30/23 | $422,756 |
Nieulande Solutions Sasu Market Education And Trademark Enforceme | 12/30/23 | $381,932 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $5,846,668 |
| Investment income | $216,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,069,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $883,379 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,078,311 |
| Pension plan accruals and contributions | $34,925 |
| Other employee benefits | $61,074 |
| Payroll taxes | $116,032 |
| Fees for services: Management | $25,000 |
| Fees for services: Legal | $325,994 |
| Fees for services: Accounting | $45,122 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,764,521 |
| Advertising and promotion | $696,906 |
| Office expenses | $34,179 |
| Information technology | $596,245 |
| Royalties | $0 |
| Occupancy | $22,282 |
| Travel | $376,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,428,230 |
| Interest | $2,067 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,907 |
| Insurance | $37,497 |
| All other expenses | $0 |
| Total functional expenses | $8,820,180 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,055,600 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,124,058 |
| 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 | $935,282 |
| Net Land, buildings, and equipment | $205,859 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,712 |
| Total assets | $13,378,511 |
| Accounts payable and accrued expenses | $683,718 |
| Grants payable | $0 |
| Deferred revenue | $7,325,400 |
| 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 | $23,366 |
| Total liabilities | $8,032,484 |
| Net assets without donor restrictions | $5,346,027 |
| 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 | $13,378,511 |