2024-10-28T07:22:25-05:00 2023-12-31 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2023-01-01 205744808 FOCUSED ULTRASOUND FOUNDATION FOCU 4342204993 1230 CEDARS COURT 206 CHARLOTTESVILLE VA 22903 KURT WOERPEL III CFO 4342204993 2024-10-24 1 0 MEREDITH BELL P01696827 8042822121 2024-10-17 2023 2024-10-15 13:58:12Z NEAL F KASSELL 1230 CEDARS COURT 206 CHARLOTTESVILLE VA 22903 26835020 0 X WWW.FUSFOUNDATION.ORG X 2006 VA ORGANIZE, CONDUCT, AND FUND RESEARCH, FOSTER COLLABORATION THROUGH MEETINGS, SYMPOSIA AND WORKSHOPS, CULTIVATE THE NEXT GENERATION THROUGH FELLOWSHIPS AND INTERNSHIPS, AND COLLECT AND DISSEMINATE KNOWLEDGE. 14 13 39 52 0 0 11006631 7222527 317122 3000 274060 1233163 1132 4282 11598945 8462972 2802677 3144239 0 0 6258702 6907881 0 0 1452173 3559350 3160674 12620729 13212794 -1021784 -4749822 43272222 38894407 1261185 1029273 42011037 37865134 ORGANIZE, CONDUCT, AND FUND RESEARCH, FOSTER COLLABORATION THROUGH MEETINGS, SYMPOSIA AND WORKSHOPS, CULTIVATE THE NEXT GENERATION THROUGH FELLOWSHIPS AND INTERNSHIPS, AND COLLECT AND DISSEMINATE KNOWLEDGE. 0 0 10099896 3144239 4282 ACCELERATION OF THE WORLDWIDE ADOPTION OF FOCUSED ULTRASOUND TECHNOLOGY THROUGH RESEARCH, COLLABORATION, COLLECTION AND DISSEMINATION OF KNOWLEDGE 10099896 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 59 0 1 39 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X X KURT WOERPEL III 4342204993 1230 CEDARS COURT 206 CHARLOTTESVILLE VA 22903 NEAL F KASSELL DIRECTOR, CHAIRMAN, PRESIDENT 40.00 X X 502128 0 13468 JOHN GRISHAM VICE CHAIRMAN 2.00 X X 0 0 0 FREDERIC H MOLL DIRECTOR 2.00 X 0 0 0 DAN JORDAN DIRECTOR 2.00 X 0 0 0 STEVE RUSCKOWSKI DIRECTOR 2.00 X 0 0 0 SHIRLEY LIN SYARU DIRECTOR 2.00 X 0 0 0 WILLIAM A HAWKINS III DIRECTOR 2.00 X 0 0 0 CHARLES WICKLIFFE MOORMAN DIRECTOR 2.00 X 0 0 0 GARY SHAPIRO DIRECTOR 2.00 X 0 0 0 SCOTT BEARDSLEY DIRECTOR 2.00 X 0 0 0 MICHAEL LINCOLN DIRECTOR 2.00 X 0 0 0 MICHAEL MILKEN DIRECTOR 2.00 X 0 0 0 FREDA LEWIS-HALL DIRECTOR 2.00 X 0 0 0 THOMAS RYDER DIRECTOR 2.00 X 0 0 0 KURT WOERPEL III CHIEF FINANCIAL OFFICER 20.00 X 86690 0 0 JESSICA FOLEY CHIEF SCIENTIFIC OFFICER 40.00 X 225593 0 9553 RICK HAMILTON CHIEF TECHNOLOGY OFFICER 40.00 X 249547 0 39410 TIMOTHY MEAKEM CHIEF MEDICAL OFFICER 40.00 X 289726 0 40417 EMILY WHITE DIRECTOR OF OPERATIONS 40.00 X 298570 0 23304 JESSICA LUKENS MANAGING DIRECTOR 40.00 X 221012 0 8803 1873266 0 134955 25 0 1 0 0 7222527 7222527 SYMPOSIUM FEES 611430 3000 3000 3000 748563 748563 18856648 18362764 9284 493884 -9284 484600 484600 OTHER REVENUE 900099 4282 4282 4282 8462972 4282 0 1236163 1735646 1735646 30144 30144 1378449 1378449 603323 416492 92857 93974 5218763 3605209 800158 813396 194106 130096 34652 29358 506972 341515 85996 79461 384717 257900 68711 58106 114235 114235 42666 627 42039 1125640 871943 175251 78446 224497 161101 45413 17983 385311 180694 194330 10287 215371 130645 55250 29476 364114 301313 13182 49619 222046 180827 32863 8356 45574 30564 8114 6896 71271 47797 12690 10784 COLLABORATION DUES 118500 118500 SPONSORSHIPS 105956 105956 INTERNET & TELECOM. 54434 36506 9692 8236 PROJECT SUPPLIES 43964 18278 25585 101 27095 19694 5981 1420 13212794 10099896 1660725 1452173 20612920 11770867 12969780 9374783 69905 60573 87728 94352 873737 564736 252737 309001 8140060 16249811 1139092 1035020 43272222 38894407 204207 119426 375698 388327 681280 521520 1261185 1029273 X 22186285 21779501 19824752 16085633 42011037 37865134 43272222 38894407 -4749822 603919 0 X 0 1 X 1 0 X 9983898 30410388 8282574 11006631 7222527 66906018 9983898 30410388 8282574 11006631 7222527 66906018 34414335 32491683 204225 164170 589203 368795 748561 2074954 346467 161730 14529 166085 4282 693093 69674065 249469 0.46630 0.41560 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 346,467. 2020 AMOUNT: $ 161,730. 2021 AMOUNT: $ 14,529. 2023 AMOUNT: $ 4,282. SYMPOSIUM SPONSOR/EXHIBITOR - 2022 AMOUNT: $ 166,085. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 160359 114803 45556 713378 449933 263445 309001 OPERATING LEASE LIABILITIES, NET 521520 521520 9178117 603919 101942 9284 715145 8462972 0 8462972 13324020 101942 9284 111226 13212794 0 13212794 PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS 9,284. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS 9,284. 1 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 478465 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 815315 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 56070 0 0 0 0 0 0 1349850 0 1349850 NORTH AMERICA RESEARCH 56070 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 125907 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 53275 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 10967 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 82215 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 163376 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 53512 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 64000 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 226958 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) RESEARCH 30555 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC RESEARCH 21000 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC RESEARCH 223630 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC RESEARCH 133835 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC RESEARCH 60000 WIRE TRANSFER 0 14 0 RESEARCH EUROPE (INCLUDING ICELAND & GREENLAND) 4 14500 WIRE TRANSFER RESEARCH EAST ASIA AND THE PACIFIC 2 3000 WIRE TRANSFER RESEARCH NORTH AMERICA 2 11100 WIRE TRANSFER 0 0 0 0 0 0 PART I, LINE 2: THE ORGANIZATION REQUIRES ALL NON-CLINICAL AWARDS TO FOLLOW CONTRACTUALLY SCHEDULED MILESTONES AND SUBMIT DELIVERABLES IN REPORT FORMAT, INCLUDING DATA AND RESULTS, TO MEET THE REQUIREMENTS FOR THE RELEASE OF FUNDING. ALL CLINICAL TRIAL AWARDS ARE REQUIRED TO SUBMIT REGULARLY SCHEDULED PROGRESS REPORTS AND INVOICE ACCORDING TO THE CONTRACTUALLY AGREED UPON BUDGET. ALL SUBMISSIONS FROM THE AWARDEES ARE INTERNALLY REVIEWED FOR ACCURACY AND SUBSTANCE PRIOR TO THE RELEASE OF FUNDING. ALL AWARDS ARE REQUIRED TO SUBMIT EITHER A FINAL REPORT AND/OR A PUBLICATION READY MANUSCRIPT BEFORE THE FINAL FUNDING INSTALLMENTS ARE RELEASED. 1 ARIZONA STATE UNIVERSITY 660 SOUTH MILL AVENUE SUITE 204 TEMPE AZ 85281 860196696 501(C)(3) 48000 0 RESEARCH AUBURN UNIVERSITY 211 ENGRAM HALL AUBURN UNIVERSITY AL 36849 636000724 501(C)(3) 15000 0 RESEARCH BOSTON UNIVERSITY 881 COMMONWEALTH AVE BOSTON MA 02115 042103547 501(C)(3) 20000 0 RESEARCH BRIGHAM & WOMENS HOSPITAL 75 FRANCIS ST BOSTON MA 02115 042312909 501(C)(3) 120000 0 RESEARCH CARNEGIE MELLON UNIVERSITY 5000 FORBES AVE PITTSBURGH PA 15213 250969449 501(C)(3) 10000 0 RESEARCH CHILDREN'S RESEARCH 111 MICHIGAN AVENUE NW WASHINGTON DC 20010 521654453 501(C)(3) 51543 0 RESEARCH COLUMBIA UNIVERSITY 615 WEST 131ST STREET MC841 NEW YORK NY 10027 135598093 501(C)(3) 152732 0 RESEARCH ECONOMIC CLUB OF DC 1601 K ST NW SUITE 210 WASHINGTON DC 20006 521469926 501(C)(3) 5500 0 RESEARCH GEORGIA INSTITUTE OF TECHNOLOGY 926 DALNEY STREET NW ATLANTA GA 30318 586002023 501(C)(3) 111750 0 RESEARCH NAVITAS CLINICAL RESEARCH INC 11300 ROCKVILLE PIKE SUITE 500 ROCKVILLE MD 20852 521485172 55422 0 RESEARCH NICKLAUS MIAMI CHILDREN'S HOSPITAL 3100 SW 62 AVENUE MIAMI FL 33155 453481327 501(C)(3) 62970 0 RESEARCH PENNSYLVANIA STATE UNIVERSITY 103 SHIELDS BUILDING 664 CURTIN RD UNIVERSITY PARK PA 16802 246000376 501(C)(3) 11000 0 RESEARCH UNIVERSITY OF MICHIGAN 3003 S STATE ST ANN ARBOR MI 48109 386006309 501(C)(3) 343431 0 RESEARCH STANFORD UNIVERSITY 3150 PORTER DRIVE PALO ALTO CA 94304 941156365 501(C)(3) 216240 0 RESEARCH THE MICHAEL J FOX FOUNDATION GRAND CENTRAL STATION PO BOX 4777 NEW YORK NY 10163 134141945 501(C)(3) 58009 0 RESEARCH THOMAS JEFFERSON UNIVERSITY 833 CHESTNUT STREET SUITE 900 PHILADELPHIA PA 19107 231352294 501(C)(3) 60000 0 RESEARCH UNIVERSITY OF CHICAGO 5801 S ELLIS AVE CHICAGO IL 60637 362177139 501(C)(3) 20000 0 RESEARCH UNIVERSITY OF MARYLAND BALTIMORE 620 WEST LEXINGTON STREET 4TH FLOOR BALTIMORE MD 21201 526002033 501(C)(3) 198549 0 RESEARCH UNIVERSITY OF WASHINGTON 4333 BROOKLYN AVE NE BOX 357472 SEATTLE WA 98195 916001537 501(C)(3) 20000 0 RESEARCH VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 300 TURNER ST NW NORTH END CENTER SUITE 4200 BLACKSBURG VA 24061 546001805 501(C)(3) 70000 0 RESEARCH VANDERBILT UNIVERSITY 2201 WEST END AVE NASHVILLE TN 37235 620476822 501(C)(3) 40000 0 RESEARCH WASHINGTON UNIVERSITY 700 ROSEDALE AVE ST LOUIS MO 63112 430653611 501(C)(3) 10000 0 RESEARCH MEMORIAL SLOANE KETTERING 1275 YORK AVE NEW YORK NY 10065 131924236 501(C)(3) 5500 0 RESEARCH UNIVERSITY OF UTAH 201 PRESIDENTS CIR ROOM 411 SALT LAKE CITY UT 84112 876000525 501(C)(3) 30000 0 RESEARCH 23 1 RESEARCH 15 30144 PART I, LINE 2: THE ORGANIZATION REQUIRES ALL NON-CLINICAL AWARDS TO FOLLOW CONTRACTUALLY SCHEDULED MILESTONES AND SUBMIT DELIVERABLES IN REPORT FORMAT, INCLUDING DATA AND RESULTS, TO MEET THE REQUIREMENTS FOR THE RELEASE OF FUNDING. ALL CLINICAL TRIAL AWARDS ARE REQUIRED TO SUBMIT REGULARLY SCHEDULED PROGRESS REPORTS AND INVOICE ACCORDING TO THE CONTRACTUALLY AGREED UPON BUDGET. ALL SUBMISSIONS FROM THE AWARDEES ARE INTERNALLY REVIEWED FOR ACCURACY AND SUBSTANCE PRIOR TO THE RELEASE OF FUNDING. ALL AWARDS ARE REQUIRED TO SUBMIT EITHER A FINAL REPORT AND/OR A PUBLICATION READY MANUSCRIPT BEFORE THE FINAL FUNDING INSTALLMENTS ARE RELEASED. X 1 1 X X 0 0 0 0 0 0 0 0 0 NEAL F KASSELL DIRECTOR, CHAIRMAN, PRESIDENT 502128 0 0 0 0 0 13188 0 1318 0 516634 0 0 0 TIMOTHY MEAKEM CHIEF MEDICAL OFFICER 289726 0 0 0 0 0 12000 0 30783 0 332509 0 0 0 EMILY WHITE DIRECTOR OF OPERATIONS 298570 0 0 0 0 0 12000 0 13086 0 323656 0 0 0 RICK HAMILTON CHIEF TECHNOLOGY OFFICER 249547 0 0 0 0 0 10500 0 30450 0 290497 0 0 0 JESSICA FOLEY CHIEF SCIENTIFIC OFFICER 225593 0 0 0 0 0 9200 0 7726 0 242519 0 0 0 JESSICA LUKENS MANAGING DIRECTOR 221012 0 0 0 0 0 8468 0 6972 0 236452 0 0 0 PART I, LINE 1A TAXABLE EMPLOYER-SPONSORED GYM PROGRAM OFFERED TO ALL EMPLOYEES THROUGH LOCAL GYM (ACAC). THIS GYM BENEFIT IS INCLUDED IN EMPLOYEE WAGES. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE TAX RETURN IS REVIEWED AND APPROVED BY BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. STANDARDS AND PROCEDURES: (A) THE BOARD OF DIRECTORS SHALL DETERMINE, BY MAJORITY VOTE, WHETHER THE DISCLOSURE SHOWS THAT A CONFLICT OF INTERESTS EXISTS OR CAN REASONABLY BE CONSTRUED TO EXIST. (B) THE BOARD OF DIRECTORS MAY REQUEST THE PERSON TO PROVIDE FACTUAL INFORMATION REGARDING THE POTENTIAL OR ACTUAL CONFLICT OF INTERESTS AND SUCH PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT. (C) IF DEEMED APPROPRIATE, THE BOARD OF DIRECTORS MAY APPOINT A NON-INTERESTED PERSON OR COMMITTEE OR SUBCOMMITTEE TO INVESTIGATE ALTERNATIVES TO SUCH PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT. (D) IF A CONFLICT OF INTERESTS IS DEEMED TO EXIST, THE PERSON HAVING THE CONFLICT OF INTERESTS SHALL NOT PARTICIPATE OR ATTEND, VOTE ON, OR USE HIS OR HER PERSONAL INFLUENCE IN CONNECTION WITH THE DISCUSSIONS, DELIBERATIONS, OR VOTE WITH RESPECT TO SUCH CONTRACT, TRANSACTION, ARRANGEMENT, OR RELATED MATTERS AFFECTING THE FOUNDATION. (E) AT ANY MEETING OF THE BOARD OF DIRECTORS WHERE SUCH CONTRACT, TRANSACTION, ARRANGEMENT, OR RELATED MATTERS ARE UNDER DISCUSSION OR ARE BEING VOTED UPON, A QUORUM IS PRESENT IF A MAJORITY OF DIRECTORS WHO HAVE NO DIRECT OR INDIRECT PERSONAL INTEREST IN SUCH CONTRACT, TRANSACTION, OR ARRANGEMENT PARTICIPATE IN THE VOTE HELD TO AUTHORIZE, APPROVE, OR RATIFY SUCH CONTRACT, TRANSACTION, OR ARRANGEMENT. (F) IN ORDER TO APPROVE SUCH CONTRACT, TRANSACTION, OR ARRANGEMENT, THE BOARD OF DIRECTORS MUST FIRST FIND, BY MAJORITY VOTE WITHOUT COUNTING THE VOTE OF THE INTERESTED DIRECTOR OR DIRECTORS, THAT (I) THE PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT IS IN THE FOUNDATION'S BEST INTEREST AND FOR ITS OWN BENEFIT; AND (II) THE PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT IS FAIR AND REASONABLE TO THE FOUNDATION. (G) THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE MADE, THE PERSONS PRESENT FOR THE DISCUSSION AND VOTE, THE CONTENT OF THE DISCUSSION, THE VOTE THEREON (INCLUDING ANY ROLL CALL), AND, WHERE APPLICABLE, THE ABSTENTION FROM VOTING AND PARTICIPATION, AND THAT A QUORUM WAS PRESENT. THE FOUNDATION SHALL KEEP MINUTES OF THE DISCUSSIONS AND DELIBERATIONS AS PART OF THE MINUTES OF THE FOUNDATION. CORRECTIVE AND DISCIPLINARY ACTION: THE VIOLATION OF THIS CONFLICTS OF INTEREST POLICY IS A SERIOUS MATTER AND MAY CONSTITUTE "CAUSE" FOR REMOVAL OR TERMINATION OF A DIRECTOR, OFFICER, OR EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15A AN INDEPENDENT SALARY ASSESSMENT IS OBTAINED AND THE BOARD APPOINTED COMPENSATION COMMITTEE APPROVES THE COMPENSATION FOR THIS INDIVIDUAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC ON THE FOUNDATION'S WEBSITE, CHARITY NAVIGATOR, GUIDESTAR, AND UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).