Wireless Power Consortium
- Assets
- $14.7m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Piscataway, NJ
- Founding
- 11/2019
- Data as of
- 12/2021
- EIN
- 84-1773149
Organization Overview
Wireless Power Consortium is located in Piscataway, NJ. 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. 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 12/2021, Wireless Power Consortium generated $6.7m in total revenue. All expenses for the organization totaled $3.8m during the year ending 12/2021. While expenses have increased by 54.7% per year over the past 2 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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 DRAFTS OF THE QI V1.3, QI V1.3.1 AND QI V1.3.2 SPECIFICATION DURING 2021. THESE VERSIONS OF THE SPECIFICATION ARE NOW AN "APPROVED SPECIFICATION" ACCORDING TO THE PROCESS DEFINED IN CLAUSE 6.4.1.5 OF THE BYLAWS.
THE HOUSEHOLD & INDUSTRY WORK GROUP HAS ESTABLISHED THREE SPECIFICATION GROUPS: THE KI SPEC GROUP CREATES THE KI CORDLESS KITCHEN SPECIFICATION. THE LIGHT ELECTRIC VEHICLE SPEC GROUP DISCUSSES THE COMMERCIAL REQUIREMENTS FOR A FUTURE SPECIFICATION FOR WIRELESS CHARGING OF LIGHT ELECTRIC VEHICLES SUCH AS E-BIKES, E-SCOOTERS AND MORE. THE INDUSTRY SPEC GROUP DISCUSSES THE COMMERCIAL REQUIREMENTS FOR A FUTURE SPECIFICATION FOR WIRELESS CHARGING OF INDUSTRY ROBOTS SUCH AS AUTOMATED GUIDED VEHICLES (AGV'S) AND MORE.
THE BOARD OF DIRECTORS INCREASED THE SCOPE OF THE INFRASTRUCTURE APPLICATIONS GROUP (IAG) AND MADE THE IAG AN OPERATIONAL WORK GROUP. THE IAG IS AN OPERATIONAL WORKGROUP DEDICATED TO DRIVING ADOPTION OF WPC SPECIFICATIONS IN HOTELS, RESTAURANTS, SPORTING VENUES, AND OTHER EVERYDAY LOCATIONS. THE IAG IS OPEN TO ALL MEMBERSHIP LEVELS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fady Mishriki Chair | OfficerTrustee | 4 | $0 |
Tony Francesca Vice Chair (from 9/2021) | OfficerTrustee | 4 | $0 |
George Powell Vice Chair (until 9/2021) | OfficerTrustee | 4 | $0 |
Tj Zsemba Treasurer | Officer | 8 | $0 |
Vigdis Bronder Secretary (from 9/2021) | Officer | 2 | $0 |
Menno Treffers See Sch O E.d. & Secretary (until 11/2021) | Officer | 25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Treffers Alliance Management Management | 12/30/21 | $323,676 |
Biddle Law Pc Legal | 12/30/21 | $390,499 |
Island Street Engineering & Consulting O Management & Workgroup Support | 12/30/21 | $308,578 |
Nieulande Solutions Market Education | 12/30/21 | $278,568 |
Golin Public Relations & Media | 12/30/21 | $267,828 |
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 | $6,732,704 |
| Investment income | $0 |
| 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 | $6,732,704 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $350,054 |
| Fees for services: Legal | $393,748 |
| Fees for services: Accounting | $42,846 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,098,717 |
| Advertising and promotion | $349,929 |
| Office expenses | $28,777 |
| Information technology | $232,324 |
| Royalties | $0 |
| Occupancy | $5,500 |
| Travel | $7,483 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,450 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $33,064 |
| All other expenses | $819 |
| Total functional expenses | $3,819,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,889,445 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,716,462 |
| 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 | $129,581 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $14,746,488 |
| Accounts payable and accrued expenses | $487,379 |
| Grants payable | $0 |
| Deferred revenue | $6,597,492 |
| 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 | $0 |
| Total liabilities | $7,084,871 |
| Net assets without donor restrictions | $7,661,617 |
| 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 | $14,746,488 |
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