Focused Ultrasound Foundation

Nonprofit profile at a glance

EIN
205744808
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Charlottesville, VA, USA
Phone
4342204993
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Surgery Specialties

Official website

Reported finances

Revenue
$26,574,051
Expenses
$15,115,738
Assets
$51,401,707
Liabilities
$1,141,488

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • NEAL F KASSELL (PRESIDENT, CHAIRMAN)

Highest reported compensation

  • NEAL F KASSELL (PRESIDENT, CHAIRMAN): $596,067 total reported compensation
  • TIMOTHY MEAKEM (CHIEF MEDICAL OFFICER): $345,826 total reported compensation
  • CHRETIEN MOONEN (MANAGING DIRECTOR RESEARCH): $296,536 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2025

Acceleration of the worldwide adoption of focused ultrasound technology through research, collaboration, collection and dissemination of knowledge.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 64% for direct work, and 36% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 73
  • Accountability: 91
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 48.1%; rating input score 48
  • Program expense ratio: 78.4%; rating input score 78
  • Fundraising efficiency: $20.14 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Pass
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 21st percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 43.1%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 3.4; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 13.5%; rating input score 14; 14th percentile among comparable filings

Growth

  • Program expense growth: 10.9% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 10.5% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 74th percentile among comparable filings

Details

  • Where the money goes: 48.1% of revenue deployed · 78.4% of spending went to programs
  • Governance: 12 of 13 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.9M in reported program spending
  • Leadership: top reported pay $596K · 18 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $129K reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 34 filed money-flow records
  • Related organizations: 28 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 48/100.
  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 14/100.