Overview
What is Fraunhofer Usa Inc?
Fraunhofer USA Inc, based in Michigan, is a nonprofit research organization that operates three centers and six locations throughout the United States. Each center specializes in different technological research areas such as sustainable energy systems and laser technology. The research conducted at Fraunhofer USA aims to develop key technological innovations in major public concern areas, benefiting the US industry as a whole. By fostering advanced technological research and education, Fraunhofer USA enhances the technological competence and knowledge of the manufacturing sector. They collaborate with educational institutions to further their exempt scientific and educational purposes. The mission of Fraunhofer USA is to serve market-driven technology needs, promote international cooperation in business, and establish strategic alliances with industry, government, and academic partners. With a workforce of 143 employees, they are dedicated to customized, advanced technology research, development, and deployment.
Official website here: www.fraunhofer.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52% (One-Star out of Four Stars)
Fraunhofer Usa Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its overall accountability and financial health. The organization showcases some strengths, such as having a majority of independent board members and a strong audit and oversight committee. However, the low ratings stem from critical deficiencies, particularly in its financial ratios and missing essential policies such as a whistleblower policy and tax form postings on its website.
The accountability score of 52 highlights areas for improvement, specifically in financial transparency and resource allocation. The program expense ratio is notably low at 37.44%, suggesting that a substantial portion of the organization's expenditures may not be directed towards its core programs and services. The liabilities to assets ratio is also concerning at 36.89%, indicating potential financial vulnerabilities.
In summary, while Fraunhofer Usa Inc shows a commitment to some governance practices, the lack of necessary financial policies and low program expense ratio raise red flags for potential donors and stakeholders. Continuous improvement in these areas is crucial for enhancing the organization's credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Fraunhofer Usa Inc legitimate?
Fraunhofer Usa Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fraunhofer Usa Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $866,678
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,696,288
For more financial information, click here
Official website here: www.fraunhofer.org
What is the mission statement of Fraunhofer Usa Inc?
Fraunhofer Usa Inc is dedicated to enhancing the technological capabilities of the US manufacturing industry. They foster advanced technological research and development and innovative methods of technological education. Their mission is to serve market-driven technology needs, promote international cooperation in business, and establish strategic alliances with industry, government, and academic partners. Through customized advanced technology research, development, and deployment, they contribute to key technological innovations in major areas of public concern, benefiting the industry as a whole. Their research projects are often carried out in collaboration with educational institutions, furthering their exempt scientific and educational purposes.
Official website here: www.fraunhofer.org
Who is the CEO of Fraunhofer Usa Inc?
Thomas Schuelke is the Principal Officer of Fraunhofer Usa Inc.
Official website here: www.fraunhofer.org
What is the revenue of Fraunhofer Usa Inc?
Fraunhofer Usa Inc's revenue in 2022 was $21,587,195.
Official website here: www.fraunhofer.org
Who are the executives of Fraunhofer Usa Inc and what are their salaries?
The average compensation at Fraunhofer Usa Inc during 2022 was $73,867. There are 143 employees and 9 volunteers at Fraunhofer Usa Inc.
Here are 15 key members and their salaries:
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- Compensation: $305,358
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- Other: $40,452
- Compensation: $202,262
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- Other: $41,028
- Compensation: $231,041
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- Other: $46,539
- Compensation: $317,525
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- Other: $44,687
- Compensation: $231,065
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- Other: $44,716
- Compensation: $264,983
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- Other: $46,074
- Compensation: $217,906
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- Other: $41,604
- Compensation: $200,893
- Related: $0
- Other: $41,084
Official website here: www.fraunhofer.org
Where can I find the form 990 for Fraunhofer Usa Inc?
Fraunhofer Usa Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fraunhofer.org
Learn more at the official website: www.fraunhofer.org
Mission Statement of Fraunhofer Usa Inc
Fraunhofer USA, a renowned research and development organization, strives to elevate the technological prowess of the US manufacturing industry. By fostering advanced technological research and education, this nonprofit aims to benefit both the academic, scientific, and manufacturing communities, ultimately contributing to the betterment of the general public. Fraunhofer USA's mission is multifaceted; it serves market-driven technology needs, promotes international cooperation in business, and establishes strategic alliances with industry, government, and academic partners.
The nonprofit organization operates three centers, each dedicated to a distinct type of technological research and development. One center focuses on sustainable energy systems, another on laser technology, and so on. These centers undertake advanced research projects to develop key technological innovations in major areas of public concern. The research conducted at Fraunhofer USA is often done in collaboration with educational institutions, furthering its exempt scientific and educational purposes. The technological advancements, in turn, benefit the US industry as a whole. Fraunhofer USA's commitment to research and development is crucial in driving innovation and progress in various industries.
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Impact
October, 2024
Fraunhofer USA Inc plays a pivotal role in enhancing the technological competence and knowledge base of the U.S. manufacturing industry. By fostering advanced technological research and development, it addresses critical areas of public concern, particularly in sustainable energy systems and laser technology. With three centers and six locations across the country, Fraunhofer USA undertakes significant research projects that not only advance innovation but also contribute to the education of participants in various technical disciplines.
The organization collaborates closely with educational institutions, ensuring that the research benefits the broader U.S. industry while also fulfilling its scientific and educational goals. By promoting market-driven technology solutions and establishing strategic alliances with industry, government, and academic partners, Fraunhofer USA effectively bridges the gap between research and practical application. This collaboration fosters international cooperation in business, maximizing the impact of its technological advancements on the manufacturing sector and beyond.
Overall, the influence of Fraunhofer USA extends through its commitment to innovation, education, and partnership, significantly contributing to the advancement of the U.S. manufacturing landscape.
This information is meant to be a general summary of Fraunhofer Usa Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$308,401
- Program Service Revenue: $11,530,068
- Gross Receipts: $32,908,726
Assets and Liabilities:
- Total Assets: $28,491,011
- Total Liabilities: $10,511,486
- Net Assets: $17,979,525
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESEARCH & DEVELOPMENT
Revenue
$11,530,068
Organization Details
Founding Year
1994
Phone
(734) 354-9700Principal Officer
Thomas Schuelke
Main Address
44792 HELM STREET, PLYMOUTH, MI, 48170
Website
www.fraunhofer.orgNTEE Category
Code: H99 - Medical research
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