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Nonprofiteer
← FUZEHUB INC

Form 990 for tax year 2024

Filed by FUZEHUB INC.

Totals

Total revenue
$4,835,529
Total expenses
$4,418,119
Contributions and grants received
$4,309,635
Grants paid
$1,683,503
Program service revenue
$460,556
Investment income
$65,338
Other revenue
$0
Total assets, end of year
$4,289,665
Total liabilities, end of year
$268,947
Net assets or fund balances, end of year
$4,020,718
Program services expenses (Part IX)
$3,911,395
Management and general expenses
$506,724
Fundraising expenses
$0
Program service expenses (Part III)
$3,911,395

Program services were 88.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $4,309,635

  • 2a · Program service revenue: PROJECT AND EVENT REVE

    total $460,556 · related or exempt $460,556

  • 3 · Investment income

    total $65,338 · excluded $65,338

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,683,503 · program services $1,683,503

  • 5 · Compensation of officers, directors and key employees

    total $197,195 · program services $197,195

  • 7 · Other salaries and wages

    total $589,617 · program services $589,617

  • 8 · Pension plan contributions

    total $20,997 · program services $20,997

  • 9 · Other employee benefits

    total $47,619 · program services $47,619

  • 10 · Payroll taxes

    total $59,774 · program services $59,774

  • 11b · Fees: legal

    total $34,212 · management and general $34,212

  • 11c · Fees: accounting

    total $52,762 · management and general $52,762

  • 11g · Fees: other

    total $11,030 · management and general $11,030

  • 12 · Advertising and promotion

    total $224,262 · management and general $224,262

  • 13 · Office expenses

    total $39,857 · management and general $39,857

  • 14 · Information technology

    total $5,850 · management and general $5,850

  • 16 · Occupancy

    total $48,085 · management and general $48,085

  • 17 · Travel

    total $40,100 · program services $7,268 · management and general $32,832

  • 19 · Conferences, conventions and meetings

    total $302,724 · program services $302,724

  • 22 · Depreciation, depletion and amortization

    total $23,839 · program services $23,839

  • 23 · Insurance

    total $9,645 · management and general $9,645

  • 24a · Other expenses: SUBCONTRACTORS/CONSULAN

    total $938,722 · program services $938,722

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $39,393 · management and general $39,393

  • 24c · Other expenses: TECHNOLOGY

    total $38,322 · program services $38,322

  • 24d · Other expenses: MISCELLANEOUS

    total $8,796 · management and general $8,796

  • 24e · All other expenses

    total $1,815 · program services $1,815

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $752,626 · end of year $604,530

  • 2 · Savings and temporary cash investments

    beginning of year $1,431,081 · end of year $2,811,419

  • 3 · Pledges and grants receivable

    beginning of year $1,552,587 · end of year $713,873

  • 4 · Accounts receivable

    beginning of year $48,720 · end of year $31,557

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,750 · end of year $31,490

  • 10a · Land, buildings and equipment: cost or other basis

    $155,412

  • 10b · Land, buildings and equipment: accumulated depreciation

    $97,338

  • 10c · Land, buildings and equipment, net

    beginning of year $71,194 · end of year $58,074

  • 15 · Other assets

    beginning of year $77,761 · end of year $38,722

  • 17 · Accounts payable and accrued expenses

    beginning of year $281,393 · end of year $230,225

  • 25 · Other liabilities

    beginning of year $74,018 · end of year $38,722

  • 27 · Net assets without donor restrictions

    beginning of year $1,330,027 · end of year $1,617,425

  • 28 · Net assets with donor restrictions

    beginning of year $2,273,281 · end of year $2,403,293

Mission and programs · 2024

Mission

FUZEHUB WORKS TO BETTER CONNECT NEW YORK'S SMALL AND MID-SIZED MANUFACTURING COMPANIES TO THE RESOURCES, PROGRAMS AND EXPERTISE THEY NEED FOR TECHNOLOGY COMMERCIALIZATION, INNOVATIVE SOLUTIONS AND BUSINESS GROWTH.

  • FUZEHUB UNITES AND INTEGRATES A BROAD NETWORK OF MULTI-DISCIPLINARY PUBLIC AND PRIVATE SECTOR TECHNOLOGY, INDUSTRY AND COMMERCIALIZATION SERVICES, EXPERTS AND PARTNERS.

    Expenses $3,911,395 · Grants $1,683,503 · Revenue $460,556

As filed on the 2024 return.

Listed in Part VII

  • Ryan Silva

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Lloyd Ploof

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Santokh Badesha

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kevin O'Leary

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Fatin Haddad

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Elena Garuc

    EXECUTIVE DIRECTOR

    Total calculated
    $197,195
    From this org
    $175,179
    From related orgs
    $0
    Other
    $22,016
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,179
    Bonus
    $0
    Other
    $0
    Deferred
    $7,216
    Nontaxable benefits
    $14,800
    Filer's total
    $197,195

  • Eric Fasser

    SOLUTIONS PROGRAM MANAGER

    Total calculated
    $118,620
    From this org
    $114,217
    From related orgs
    $0
    Other
    $4,403
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513219349315246

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