Fusion FY2022 filing

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The Organizations mission is to enhance the quality of performing arts in Albuquerque, NM

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average surplus $20K a year · 4% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
13 mo
of spending, in cash
Looks good: 12.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $55K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.8M
102% of total assets
Concern: liabilities are 102% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$460K
-52% vs prior year
Spent
$587K
To programs
71%
Net assets
−$31K
By yearFY2020–FY2024
Revenue
$460K
FY2022▼ -52%
Tap a bar for its year
Revenue by fiscal year
FY2020$238K
FY2021$957K
FY2022$460K
FY2023$471K
FY2024$676K
Expenses
$587K
FY2022▲ +34%
Tap a bar for its year
Expenses by fiscal year
FY2020$365K
FY2021$439K
FY2022$587K
FY2023$630K
FY2024$680K
Net assets
−$31K
FY2022▼ -105%
Tap a bar for its year
Net assets by fiscal year
FY2020$70K
FY2021$588K
FY2022−$31K
FY2023$343K
FY2024$338K

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $416K Management & general 25% · $146K Fundraising 4% · $25K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Dennis Gromelski’s $75K as Board Chairman is at the 69th percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2020
Jacqueline Reid$72,045$75,347$9,588
Dennis Gromelski$74,556$72,969$12,487
Laurie Thomas$6,146—$3,008

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Improves performing arts quality in Albuquerque.

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1 program · $416K · in their own filed words · FY2022
01

The Organization performed live performances during the year and returned to their normal schedule of performances supporting local artists and the art community in Albuq., NM.

$416Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 2 funders$55K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$460K
Ln 12
Gifts and grantsLn 1h$301K
Fees for servicesLn 2g$130K
Other incomeLn 4–11$29K
Money outPt IX
$587K
Ln 25
Programscol B$416K
Managementcol C$146K
Fundraisingcol D$25K
Owns and owesPt X
−$31K
net assets · Ln 32
Cash and savingsLn 1–2$621K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$301K
Government grantsLn 1e$239K
Fees for servicesLn 2g$130K
Other incomeLn 4–11$29K
Total revenueLn 12$460K
Assets in detailPt X, end of year
CashLn 1$621K
Cash and savings togetherLn 1–2$621K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.8M
Net assetsLn 32−$31K
OperationsPt I, VI
EmployeesI 58
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$115K$621K
Land, buildings, equipmentLn 10c$1.1M$1.2M
Total assetsLn 16$1.2M$1.8M
LiabilitiesLn 26$1.1M$1.8M
Net assetsLn 32$96K−$31K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$215K$107K$86K$21K
Other salaries and wagesLn 7$54K$41K$14K
Other employee benefitsLn 9$20K$14K$6K
Payroll taxesLn 10$33K$20K$13K
Accounting feesLn 11c$5K$1K$4K
Advertising and promotionLn 12$1K$1K$137
Office expensesLn 13$36K$29K$5K$2K
OccupancyLn 16$46K$41K$3K$1K
TravelLn 17$911$911
InterestLn 20$30K$24K$6K
Depreciation, depletion and amortizationLn 22$33K$25K$8K
InsuranceLn 23$2K$2K$171
Other expenses (24a–d)Ln 24$113K$113K
Total functional expensesLn 25$587K$416K$146K$25K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 14, 2025 $676K$680K−$5K$338K 990 PDF
FY2023Filed with the IRS Nov 8, 2024 $471K$630K−$159K$343K 990 PDF
FY2022 ViewingFiled with the IRS Nov 15, 2023 $460K$587K−$127K−$31K 990 PDF
FY2021Filed with the IRS Nov 10, 2022 $957K$439K$518K$588K 990 PDF
FY2020Filed with the IRS Sep 14, 2021 $238K$365K−$127K$70K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $460,180 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $423,276$301,414
I-9 Program service revenuePrior year $13,889$129,791
I-10 Investment income$0
I-11 Other revenuePrior year $27,985$28,975
I-12 Total revenuePrior year $465,150$460,180
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $83,621$321,605
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $355,480$265,740
I-18 Total expensesPrior year $439,101$587,345
I-19 Revenue less expensesPrior year $26,049−$127,165
Part VI · Governance 7 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $460,180 across 6 lines filed
VIII-1e Government grants$238,560
VIII-1f All other contributions, gifts and grants$62,854
VIII-1h Total contributions, gifts and grants$301,414
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $129,791$129,791
VIII-6 Net rental income or lossRelated to mission $28,975$28,975
VIII-12 Total revenueRelated to mission $158,766 · Unrelated business $0 · Excluded from tax $0$460,180
Part IX · Statement of functional expenses $587,345 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $107,406 · Management $85,925 · Fundraising $21,481$214,812
IX-7 Other salaries and wagesPrograms $40,539 · Management $13,513$54,052
IX-9 Other employee benefitsPrograms $13,964 · Management $5,984$19,948
IX-10 Payroll taxesPrograms $19,676 · Management $13,117$32,793
IX-11c Accounting feesPrograms $1,054 · Management $4,218$5,272
IX-12 Advertising and promotionPrograms $1,233 · Fundraising $137$1,370
IX-13 Office expensesPrograms $28,636 · Management $5,139 · Fundraising $2,020$35,795
IX-16 OccupancyPrograms $41,121 · Management $3,160 · Fundraising $1,409$45,690
IX-17 TravelManagement $911$911
IX-20 InterestPrograms $23,615 · Management $5,904$29,519
IX-22 Depreciation, depletion and amortizationPrograms $24,754 · Management $8,146$32,900
IX-23 InsurancePrograms $1,542 · Management $171$1,713
IX-24 Other expenses (24a–d)Programs $112,570$112,570
IX-25 Total functional expensesPrograms $416,110 · Management $146,188 · Fundraising $25,047$587,345
Part X · Balance sheet $1,774,473 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $115,275$621,339
X-10c Land, buildings and equipment, netStart of year $1,123,667$1,153,134
X-16 Total assetsStart of year $1,238,942$1,774,473
X-19 Deferred revenue$533,356
X-23 Secured mortgages and notes payableStart of year $650,839$638,267
X-24 Unsecured notes and loans payableStart of year $491,912$633,824
X-26 Total liabilitiesStart of year $1,142,751$1,805,447
X-27 Net assets without donor restrictionsStart of year $96,191−$30,974
X-32 Total net assets or fund balancesStart of year $96,191−$30,974
X-33 Total liabilities and net assetsStart of year $1,238,942$1,774,473
Part XI · Reconciliation of net assets −$30,974 net assets at year end
XI-1 Total revenue$460,180
XI-2 Total expenses$587,345
XI-3 Revenue less expenses−$127,165
XI-4 Net assets at start of year$96,191
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$30,974

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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