Fraunhofer USA Inc

Analysis

Fraunhofer USA Inc is a registered charity in United States, based in Plymouth, MI. It received its IRS tax-exemption ruling in January 1996, 30 years ago. Its declared purposes cover medical research, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Fraunhofer USA Inc reported income of $14.8m and spending of $20.7m, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $31.5m to $14.8m (-53%), an average of -17% a year. The sharpest change came in the year to December 2021, when income dropped by 45%. Over the whole period it spent 121% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Fraunhofer USA Inc sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Seven Acres Jewish Senior Care Services Inc ($14.8m), Summit Childrens Residence Center Inc ($14.8m) and Dickinson Center Inc ($14.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $834k (4.0% of expenses). Other salaries and wages came to $10.1m. At year end it held assets of $17.5m against liabilities of $5.4m, net assets of $12.1m. It reported 142 employees.