Fusion FY2023 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.
79¢ of each $1 spent went to programs.
$148K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$148K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
9 mo
of spending, in cash
Looks good: 9.3 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
$1.3M
79% of total assets
Worth a look: liabilities are 79% of assets; over 65%.
Pt X · Ln 26
Independent board members
8
of 10 voting members
Looks good: 8 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$471K
+2% vs prior year
Spent
$630K
To programs
79%
Net assets
$343K
By yearFY2020–FY2024
Revenue
$471K
FY2023▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$238K
FY2021$957K
FY2022$460K
FY2023$471K
FY2024$676K
Expenses
$630K
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$365K
FY2021$439K
FY2022$587K
FY2023$630K
FY2024$680K
Net assets
$343K
FY2023▲ ×13
Tap a bar for its year
Net assets by fiscal year
FY2020$70K
FY2021$588K
FY2022−$31K
FY2023$343K
FY2024$338K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

79 cents of each dollar spent went to programs.

Program services 79% · $496K Management & general 17% · $104K Fundraising 5% · $30K

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

10 people listed on the 990; $148K paid to officers and key staff.

Part VII, Section A · reportable compensation
$75,347Pt VII · Sec A
Board Chairman
$72,969Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$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 · $496K · in their own filed words · FY2023
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.

$496Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$471K
Ln 12
Gifts and grantsLn 1h$214K
Fees for servicesLn 2g$185K
Other incomeLn 4–11$72K
Money outPt IX
$630K
Ln 25
Programscol B$496K
Managementcol C$104K
Fundraisingcol D$30K
Owns and owesPt X
$343K
net assets · Ln 32
Cash and savingsLn 1–2$487K
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A2
Voting boardVI 1a10
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$214K
Government grantsLn 1e$158K
Fees for servicesLn 2g$185K
Other incomeLn 4–11$72K
Total revenueLn 12$471K
Assets in detailPt X, end of year
CashLn 1$487K
Cash and savings togetherLn 1–2$487K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.6M
LiabilitiesLn 26$1.3M
Net assetsLn 32$343K
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 FY23End FY23
Cash and savingsLn 1–2$621K$487K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$1.8M$1.6M
LiabilitiesLn 26$1.8M$1.3M
Net assetsLn 32−$31K$343K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$148K$74K$59K$15K
Other salaries and wagesLn 7$128K$128K
Other employee benefitsLn 9$29K$21K$6K$2K
Payroll taxesLn 10$31K$23K$7K$2K
Accounting feesLn 11c$1K$291$1K
Advertising and promotionLn 12$638$574$64
Office expensesLn 13$34K$27K$5K$2K
OccupancyLn 16$63K$56K$4K$2K
TravelLn 17$3K$3K
InterestLn 20$60K$48K$12K
Depreciation, depletion and amortizationLn 22$36K$27K$9K
InsuranceLn 23$4K$3K$366
Other expenses (24a–d)Ln 24$93K$85K$9K
Total functional expensesLn 25$630K$496K$104K$30K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 14, 2025 $676K$680K−$5K$338K 990 PDF
FY2023 ViewingFiled with the IRS Nov 8, 2024 $471K$630K−$159K$343K 990 PDF
FY2022Filed 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 FY2023 990 (6 parts)
Part I · Summary $471,046 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $301,414$214,158
I-9 Program service revenuePrior year $129,791$184,507
I-10 Investment income$0
I-11 Other revenuePrior year $28,975$72,381
I-12 Total revenuePrior year $460,180$471,046
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $321,605$335,944
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $265,740$294,536
I-18 Total expensesPrior year $587,345$630,480
I-19 Revenue less expensesPrior year −$127,165−$159,434
Part VI · Governance 8 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members8
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 $471,046 across 6 lines filed
VIII-1e Government grants$158,290
VIII-1f All other contributions, gifts and grants$55,868
VIII-1h Total contributions, gifts and grants$214,158
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $184,507$184,507
VIII-6 Net rental income or lossRelated to mission $72,381$72,381
VIII-12 Total revenueRelated to mission $256,888 · Unrelated business $0 · Excluded from tax $0$471,046
Part IX · Statement of functional expenses $630,480 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $74,158 · Management $59,326 · Fundraising $14,862$148,346
IX-7 Other salaries and wagesPrograms $128,035$128,035
IX-9 Other employee benefitsPrograms $20,906 · Management $6,134 · Fundraising $1,518$28,558
IX-10 Payroll taxesPrograms $22,685 · Management $6,656 · Fundraising $1,664$31,005
IX-11c Accounting feesPrograms $291 · Management $1,162$1,453
IX-12 Advertising and promotionPrograms $574 · Fundraising $64$638
IX-13 Office expensesPrograms $27,184 · Management $5,097 · Fundraising $1,700$33,981
IX-16 OccupancyPrograms $56,276 · Management $4,379 · Fundraising $1,877$62,532
IX-17 TravelPrograms $2,611$2,611
IX-20 InterestPrograms $48,337 · Management $12,084$60,421
IX-22 Depreciation, depletion and amortizationPrograms $26,925 · Management $8,975$35,900
IX-23 InsurancePrograms $3,299 · Management $366$3,665
IX-24 Other expenses (24a–d)Programs $84,543 · Fundraising $8,792$93,335
IX-25 Total functional expensesPrograms $495,824 · Management $104,179 · Fundraising $30,477$630,480
Part X · Balance sheet $1,604,609 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $621,339$487,375
X-10c Land, buildings and equipment, netStart of year $1,153,134$1,117,234
X-16 Total assetsStart of year $1,774,473$1,604,609
X-23 Secured mortgages and notes payableStart of year $638,267$619,749
X-24 Unsecured notes and loans payableStart of year $633,824$641,912
X-26 Total liabilitiesStart of year $1,805,447$1,261,661
X-27 Net assets without donor restrictionsStart of year −$30,974$342,948
X-32 Total net assets or fund balancesStart of year −$30,974$342,948
X-33 Total liabilities and net assetsStart of year $1,774,473$1,604,609
Part XI · Reconciliation of net assets $342,948 net assets at year end
XI-1 Total revenue$471,046
XI-2 Total expenses$630,480
XI-3 Revenue less expenses−$159,434
XI-4 Net assets at start of year−$30,974
XI-8 Prior period adjustments$533,356
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$342,948

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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