Civic Intelligence

Fusion Academy Scholarship Foundation

990 • Fiscal year 2023 • EIN 36-4776680

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 30, 2024

Organization ProfileWWW.FUSIONSCHOLARSHIP.ORG/FUSION-FOUNDATION
72 Monroe Center NW BGrand Rapids, MI 49503-2930

(616) 301-1221

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

11th percentile

-31%

Higher net margin than 11% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$83,330

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 28.6% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

17th percentile

-11%

Faster asset growth than 17% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

67%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$753,374

Down $95,740 (-11%) from 2022

Net Assets

Down

$753,374

Down $95,740 (-11%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin11th percentile

Revenue

Up

$290,861

Up $116,673 (+67%) from 2022

Expenses

Up

$381,601

Up $178,508 (+88%) from 2022

Net Income

Down

-$90,740

Down $61,835 (-214%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2020: $725,784Liabilities 2020: $0Net Assets 2020: $725,7842020Assets 2021: $878,019Liabilities 2021: $0Net Assets 2021: $878,0192021Assets 2022: $849,114Liabilities 2022: $0Net Assets 2022: $849,1142022Assets 2023: $753,374Liabilities 2023: $0Net Assets 2023: $753,3742023Assets 2024: $549,489Liabilities 2024: $0Net Assets 2024: $549,4892024

Highlighted filing

2023

Assets$753,374
Liabilities$0
Net Assets$753,374
Open 2023 Filing

Operations Trend

Revenue Growth86th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200K-$400KRevenue 2020: $183,475Expenses 2020: $16,941Net Income 2020: $166,5342020Revenue 2021: $245,818Expenses 2021: $93,583Net Income 2021: $152,2352021Revenue 2022: $174,188Expenses 2022: $203,093Net Income 2022: -$28,9052022Revenue 2023: $290,861Expenses 2023: $381,601Net Income 2023: -$90,7402023Revenue 2024: $147,835Expenses 2024: $354,315Net Income 2024: -$206,4802024

Highlighted filing

2023

Revenue$290,861
Expenses$381,601
Net Income-$90,740
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 30, 2024
Return Version
2023v5.1
Gross Receipts
$290,861
Mission and Program Overview

Mission

The fusion scholarship foundation is commited to changing lives through education. Founded by a dedicated community of parents, our mission is to provide accessibility to fusion's personalized learning environment to those who lack the financial resources to attend. We're working to make fusion's life changing educational experience possible for families with limited resources so that more students have the opportunity to flourish

Fusion academy scholarship foundation seeks to provide a life-changing experience to students who desperately need the benefits of personalized education but lack the resources to pay for it.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$849,114$753,374▼ $95,740
Total Assets$849,114$753,374▼ $95,740
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$849,114$753,374▼ $95,740
Total Net Assets Fund Balance$849,114$753,374▼ $95,740
Total Liabilities and Net Assets / Fund Balance$849,114$753,374▼ $95,740
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeOtherTotal
Jan FielderPresidentFT$83,330$83,330

Board Members and Trustees

NameTitle
Jennifer PavenBoard Member
Randy EisenmanBoard Member
Susan MordecaiBoard Member
Robin StorferSecretary
Susan SaxeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$290,861
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$290,861
Change in Net Assets
$-90,740
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$367,850
Other Expenses$13,751
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$267,850--$267,850
Grants to Domestic Orgs$100,000--$100,000
Office Expenses-$7,619-$7,619
Other Expenses-$3,436-$3,436
Fees for Services Accounting-$2,696-$2,696
Total Functional Expenses$367,850$13,751$0$381,601
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Greater Houston Community FundHouston, TX501(c)(3)Set Up of Charitable Fund$100,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The ceo of fusion education group and president of fusion academy scholarship foundation will review the 990 prior to filing. A draft copy of the 990 will be made available to all directors to review prior to filing.”

Form 990, Part VI, Section C, Line 19

“The organization does not make any other documents available for public inspection.”

Filing and Contact Details

Filer

Filer Name
Fusion Academy Scholarship Foundation
EIN
36-4776680
Phone
6163011221
Address
72 MONROE CENTER NW B, GRAND RAPIDS, MI 49503-2930

Signing Officer

Name
David Martin
Title
CFO
Phone
6163011221
Signed
2024-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David Martin
Formed
2015
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
5
Employees
0
Volunteers
6

Preparer

Firm
Plante & Moran Pllc
Address
750 TRADE CENTRE WAY STE 300, PORTAGE, MI 49002
Preparer
Dori J Eggett
Phone
2695674500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“UNUSED GRANTS -5,000.”

Raw XML Appendix329 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION BELIEVES THAT EMPOWERING TODAY'S YOUTH WITH A SOLID EDUCATIONAL FOUNDATION IS ESSENTIAL. FOR MANY STUDENTS, TRADITIONAL CLASSROOMS ARE NOT THE ENVIRONMENT WHERE LEARNING IS BEST ACHIEVED. FUSION ACADEMY IS A PRIVATE SCHOOL SYSTEM THAT OFFERS A REVOLUTIONARY EDUCATIONAL MODEL FOR STUDENTS WHO HAVE STRUGGLED IN A TRADITIONAL SCHOOL SYSTEM. THROUGH ITS FOCUS ON INDIVIDUALIZED LEARNING, FUSION ACADEMY PROVIDES UNIQUE EDUCATIONAL RESOURCES AND A CURRICULUM BASED ON THE STUDENT'S PERSONAL LEARNING STYLE, ABILITIES, AND EDUCATIONAL GOALS. IN ORDER TO OPTIMIZE THE NUMBER OF STUDENTS WHO CAN BENEFIT FROM ATTENDING FUSION ACADEMY, THE FOUNDATION HAS ESTABLISHED A SCHOLARSHIP PROGRAM TO ASSIST STUDENTS AND THEIR FAMILIES. SCHOLARSHIPS ARE AWARDED TO STUDENTS THAT SHOW DOCUMENTED PROOF OF FINANCIAL HARDSHIP. A DETAILED APPLICATION AND FAMILY ESSAY ARE ALSO REQUIRED. SCHOLARSHIP RECIPIENTS HAVE BEEN CHOSEN EACH YEAR FROM THE POOL OF APPLICANTS ATTENDING FUSION ACADEMY IN GRADES 6-12. SCHOLARSHIP RECIPIENTS HAVE BEEN CHOSEN ON AN OBJECTIVE AND NON-DISCRIMINATORY BASIS BY THE FOUNDATION'S BOARD OF DIRECTORS, WHICH IS A DIVERSE GROUP OF KNOWLEDGEABLE INDIVIDUALS INCLUDING TEACHERS, FORMER AND CURRENT FUSION ACADEMY PARENTS AND COMMUNITY SUPPORTERS. SCHOLARSHIP RECIPIENTS ARE CHOSEN BASED UPON AN ASSESSMENT OF FINANCIAL HARDSHIP, AS WELL AS THE STUDENT'S NEED FOR THE INDIVIDUALIZED LEARNING THAT FUSION ACADEMY OFFERS. IN ADDITION, SCHOLARSHIP RECIPIENTS MUST MAINTAIN A GRADE POINT AVERAGE OF 2.5 OR ABOVE, AND SHOW OUTSTANDING (90% OR BETTER) ATTENDANCE THROUGHOUT THE SCHOOL YEAR.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART III
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CEO OF FUSION EDUCATION GROUP AND PRESIDENT OF FUSION ACADEMY SCHOLARSHIP FOUNDATION WILL REVIEW THE 990 PRIOR TO FILING. A DRAFT COPY OF THE 990 WILL BE MADE AVAILABLE TO ALL DIRECTORS TO REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT MAKE ANY OTHER DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UNUSED GRANTS -5,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9:
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0367850
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0290861
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0753374
IRS990/TotReportableCompRltdOrgAmt083330
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd0495032930
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.FUSIONSCHOLARSHIP.ORG/FUSION-FOUNDATION
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID MARTIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum06163011221
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-30
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ReturnHeader/Filer/BusinessNameControlTxt0FUSI
ReturnHeader/Filer/EIN0364776680
ReturnHeader/Filer/PhoneNum06163011221
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0381357951
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PLANTE & MORAN PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0750 TRADE CENTRE WAY STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PORTAGE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049002
ReturnHeader/PreparerPersonGrp/PhoneNum02695674500
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DORI J EGGETT
ReturnHeader/ReturnTs02024-10-31T16:21:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$753,374
Liabilities
$0
Net assets
$753,374
Revenue
$290,861
Expenses
$381,601
Net income
-$90,740
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.49$0.00$5.49$1.48$3.54$2.06
2023Detailed filing. Detailed filing data is available for this year.$7.53$0.00$7.53$2.91$3.82$0.91
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.49$0.00$8.49$1.74$2.03$0.29
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.78$0.00$8.78$2.46$0.94$1.52
2020Detailed filing. Detailed filing data is available for this year.$7.26$0.00$7.26$1.83$0.17$1.67