2026-09-16T09:43:52-05:00 2025-12-31 541631262 KEITER STEPHENS HURST GARY & SHREAVES 4401 DOMINION BLVD GLEN ALLEN VA 23060 990 2025-01-01 205744808 FOCUSED ULTRASOUND FOUNDATION FOCU 4342204993 1230 CEDARS COURT 206 CHARLOTTESVILLE VA 22903 KURT WOERPEL III CFO 4342204993 2026-09-09 1 JAYME MIKA P00852731 8047470000 2026-09-09 2025 NEAL F KASSELL 1230 CEDARS COURT 206 CHARLOTTESVILLE VA 22903 26579177 0 X WWW.FUSFOUNDATION.ORG X 2006 VA 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. 13 12 60 48 0 0 14808618 24730192 0 0 1825828 1822093 0 21766 16634446 26574051 5027361 4301691 0 0 7744049 7480580 0 0 1227825 2992074 3333467 15763484 15115738 870962 11458313 39119092 51401707 711673 1141488 38407419 50260219 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. 0 0 11853181 4301691 ACCELERATION OF THE WORLDWIDE ADOPTION OF FOCUSED ULTRASOUND TECHNOLOGY THROUGH RESEARCH, COLLABORATION, COLLECTION AND DISSEMINATION OF KNOWLEDGE. 11853181 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 44 0 1 60 1 0 0 0 0 0 0 0 0 0 0 X 13 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 VA X X KURT WOERPEL III 4342204993 1230 CEDARS COURT 206 CHARLOTTESVILLE VA 22903 NEAL F KASSELL PRESIDENT, CHAIRMAN 40.00 X X 579905 0 16162 JOHN GRISHAM DIRECTOR 2.00 X 0 0 0 KURT WOERPEL III CFO, SECRETARY 20.00 X X 0 0 0 SYARU LIN DIRECTOR 2.00 X 0 0 0 WILLIAM A HAWKINS III DIRECTOR 2.00 X 0 0 0 CHARLES WICKLIFFE MOORMAN DIRECTOR 2.00 X 0 0 0 SCOTT BEARDSLEY DIRECTOR 2.00 X 0 0 0 MICHAEL LINCOLN DIRECTOR 2.00 X 0 0 0 GARY SHAPIRO DIRECTOR 2.00 X 0 0 0 MICHAEL MILKEN DIRECTOR 2.00 X 0 0 0 FREDA LEWIS-HALL DIRECTOR 2.00 X 0 0 0 FREDERIC H MOLL DIRECTOR 2.00 X 0 0 0 STEVE RUSCKOWSKI DIRECTOR 2.00 X 0 0 0 JESSICA LUKENS MANAGING DIRECTOR 40.00 X 253002 0 12876 TIMOTHY MEAKEM CHIEF MEDICAL OFFICER 40.00 X 312628 0 33198 JOSEPH KILROY RESEARCH PROGRAM MANAGER 40.00 X 248345 0 19505 LAUREN HADLEY ASSOC. DIRECTOR RESEARCH & 40.00 X 249583 0 19478 CHRETIEN MOONEN MANAGING DIRECTOR RESEARCH 40.00 X 283695 0 12841 1927158 0 114060 23 0 1 0 CORAZON COMMUNICATION 6050 GHARRETT AVE MISSOLULA MT 59803 SCIENTIFIC/MEDICAL WRITING AND EDITING 129158 1 24730192 3983036 24730192 1066874 1066874 3317 3317 760345 0 5126 760345 -5126 755219 755219 MISCELLANEOUS INCOME 900099 18449 18449 18449 26574051 18449 0 1825410 2047460 2047460 36000 36000 2218231 2218231 596068 202663 89410 303995 5713769 4065984 1060237 587548 197005 138059 36470 22476 561609 414063 68777 78769 412129 278782 75540 57807 10075 2870 7205 37900 37900 1151707 965210 123128 63369 27103 20558 4211 2334 397603 344765 35465 17373 583503 242341 334415 6747 255550 173102 46582 35866 249094 232078 3766 13250 206499 152841 45632 8026 83779 56750 15271 11758 74188 50253 13523 10412 SPONSORSHIPS 120655 120655 COLLABORATION DUES 43500 43500 INTERNET AND TELECOMMUN 43099 29194 7856 6049 PROJECT SUPPLIES 35426 8484 26831 111 13786 9338 2513 1935 15115738 11853181 2034732 1227825 7664861 15382203 10554846 17429152 4876 197271 191453 923730 773448 147269 150282 19697416 16951404 857429 1292337 39119092 51401707 194736 206666 222131 200000 294806 734822 711673 1141488 X 19462847 15982020 18944572 34278199 38407419 50260219 39119092 51401707 11458313 336987 57500 0 X 0 1 X 1 0 X 8282574 11006631 7222527 14808618 24730192 66050542 8282574 11006631 7222527 14808618 24730192 66050542 32948133 33102409 589203 368795 748561 988263 1070191 3765013 14529 166085 4282 18449 203345 70018900 320122 0.47280 0.46570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 162268 158583 3685 761462 614865 146597 150282 OPERATING LEASE LIABILITY 734822 734822 X 27342238 336987 426074 763061 26579177 -5126 -5126 26574051 15489438 426074 -57500 5126 373700 15115738 0 15115738 PART X, LINE 2: MANAGEMENT HAS EVALUATED THE EFFECT OF GUIDANCE SURROUNDING UNCERTAIN INCOME TAX POSITIONS AND CONCLUDED THAT THE FOUNDATION HAS NO SIGNIFICANT FINANCIAL STATEMENT EXPOSURE TO UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2025 AND 2024. THE FOUNDATION IS NOT CURRENTLY UNDER AUDIT BY ANY TAX JURISDICTION. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS NETTED WITH EXPENSE -5,126. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS NETTED WITH EXPENSE 5,126. 1 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 340155 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 1481747 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN REGION 396329 0 0 0 0 0 0 2218231 0 2218231 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, RESEARCH 20000 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, RESEARCH 70985 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 60000 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 453890 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 39015 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 43795 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 130700 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 10494 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 33042 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 67790 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 150372 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 24923 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 239489 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RESEARCH 9314 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RESEARCH 180979 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RESEARCH 59042 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, RESEARCH 245170 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 143670 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 43500 WIRE TRANSFER 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM RESEARCH 27160 WIRE TRANSFER 0 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES RESEARCH 134994 WIRE TRANSFER 0 21 RESEARCH EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 8 13906 WIRE TRANSFER RESEARCH EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 2 4000 WIRE TRANSFER RESEARCH NORTH AMERICA 6 12000 WIRE TRANSFER 0 0 0 0 0 0 PART I, LINE 2: THE ORGANIZATION REQUIRES ALL NON-CLINICAL AWARDS TO FOLLOW CONTRACTUALLY SCHEDULED MILESTONES AND SUBMIT DELIVERABLES IN REPORT FORMAT, INCLUDING DATA AND RESULTS, TO MEET THE REQUIREMENTS FOR THE RELEASE OF FUNDING. ALL CLINICAL TRIALS AWARDS ARE REQUIRED TO SUBMIT REGULARLY SCHEDULED PROGRESS REPORTS AND INVOICE ACCORDING TO THE CONTRACTUALLY AGREED UPON BUDGET. ALL SUBMISSIONS FROM THE AWARDEES ARE INTERNALLY REVIEWED FOR ACCURACY AND SUBSTANCE PRIOR TO THE RELEASE OF FUNDING. ALL AWARDS ARE REQUIRED TO SUBMIT EITHER A FINAL REPORT AND/OR A PUBLICATION READY MANUSCRIPT BEFORE THE FINAL FUNDING INSTALLMENTS ARE RELEASED. 1 AMERICAN SOCIETY OF GENE AND CELL THERAPY 20800 SWENSON DR SUITE 300 WAUKESHA WI 53186 911766321 501(C)(3) 100000 0 RESEARCH AUBURN UNIVERSITY 211 INGRAM HALL AUBURN UNIVERSITY AL 36849 636000724 501(C)(3) 22000 0 RESEARCH BRIGHAM & WOMEN'S HOSPITAL 75 FRANCIS ST BOSTON MA 02115 042312909 501(C)(3) 86000 0 RESEARCH CARNEGIE MELLON UNIVERSITY 5000 FORBES AVE PITTSBURGH PA 15213 250969449 501(C)(3) 40000 0 RESEARCH CHILDREN'S RESEARCH INSTITUTE 111 MICHIGAN AVENUE NW WASHINGTON DC 20010 521654453 501(C)(3) 106950 0 RESEARCH GEORGIA TECH RESEARCH CORP 926 DALNEY ST NW ATLANTA GA 30332 580603146 501(C)(3) 190000 0 RESEARCH PENNSYLVANIA STATE UNIVERSITY 201 OLD MAIN UNVERSITY PARK PA 16802 246000376 501(C)(3) 13000 0 RESEARCH MEMORIAL SLOAN KETTERING 1275 YORK AVENUE NEW YORK NY 10065 131624182 501(C)(3) 27688 0 RESEARCH STANFORD UNIVERSITY 3150 PORTER DR PALO ALTO CA 94304 941156365 501(C)(3) 114875 0 RESEARCH UNIVERSITY OF ARIZONA 845 N PARK AVE RM 538 TUCSON AZ 85721 742652689 501(C)(3) 95000 0 RESEARCH UNIVERSITY OF MARYLAND BALTIMORE 620 W LEXINGTON ST 4TH FL BALTIMORE MD 21201 526002033 501(C)(3) 137107 0 RESEARCH UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL 104 AIRPORT DR SUITE 2299 CHAPEL HILL NC 27599 566001393 501(C)(3) 12670 0 RESEARCH UNIVERSITY OF PITTSBURGH 200 S CRAIG ST SUITE 230 PITTSBURGH PA 15260 250965591 501(C)(3) 62500 0 RESEARCH UNIVERSITY OF WASHINGTON 4333 BROOKLYN AVE NE BOX 357472 SEATTLE WA 98195 916001537 501(C)(3) 61090 0 RESEARCH VANDERBILT UNIVERSITY 110 21ST AVE S NASHVILLE TN 37203 620476822 501(C)(3) 40000 0 RESEARCH VIRGINIA POLYTECHNIC INSTITUTE & STATE UNIVERSITY 300 TUNER ST NW NORTH END CENTER SUITE 4200 BLACKSBURG VA 24061 546001805 501(C)(3) 120000 0 RESEARCH WASHINGTON UNIVERSITY IN ST LOUIS 700 ROSEDALE AVE ST LOUIS MS 63112 430653611 501(C)(3) 86672 0 RESEARCH BRIGHTFOCUS FOUNDATION 22512 GATEWAY CENTER DRIVE CLARKSBURG MD 20871 237337229 501(C)(3) 60000 0 RESEARCH DISCOGEN LLC 163 BOGARTS MILL ROAD HARRINGTON PARK NJ 07640 204139376 100000 0 RESEARCH FEINSTEIN INSTITUTE FOR MEDICAL RESEARCH 350 COMMUNITY DR MANHASSET NY 11030 112673595 501(C)(3) 10000 0 RESEARCH MICROVASCULAR THERAPEUTICS 1635 E 18TH ST TUCSON AR 85719 921773299 3930 0 RESEARCH NICKLAUS MIAMI CHILDREN'S HOSPITAL SEGA 3100 SW 62ND AVE MIAMI FL 33155 453481327 501(C)(3) 75880 0 RESEARCH NORTHWESTERN UNIVERSITY 633 CLARK STREET EVANSTON IL 60208 362167817 501(C)(3) 10000 0 RESEARCH OCEAN STATE RESEARCH INSTITUTE 830 CHALKSTONE AVENUE PROVIDENCE RI 02908 050440574 501(C)(3) 29360 0 RESEARCH ONDA CORPORATION 1290 HAMMERWOOD AVE SUNNYVALE CA 94089 770445176 6836 0 RESEARCH PURDUE UNIVERSITY 610 PURDUE MALL WEST LAFAYETTE IN 47907 356002041 501(C)(3) 40000 0 RESEARCH REGENTS OF THE UNIVERSITY OF CA SAN FRANCISCO 490 ILLINOIS ST 4TH FLOOR SAN FRANCISCO CA 94143 946036493 501(C)(3) 350902 0 RESEARCH REGENTS OF THE UNIVERSITY OF MICHIGAN 3003 S STATE ST ANN ARBOR MI 48109 386006309 501(C)(3) 45000 0 RESEARCH 25 28 RESEARCH 16 36000 PART I, LINE 2: THE ORGANIZATION REQUIRES ALL NON-CLINICAL AWARDS TO FOLLOW CONTRACTUALLY SCHEDULED MILESTONES AND SUBMIT DELIVERABLES IN REPORT FORMAT, INCLUDING DATA AND RESULTS, TO MEET THE REQUIREMENTS FOR THE RELEASE OF FUNDING. ALL CLINICAL TRIALS AWARDS ARE REQUIRED TO SUBMIT REGULARLY SCHEDULED PROGRESS REPORTS AND INVOICE ACCORDING TO THE CONTRACTUALLY AGREED UPON BUDGET. ALL SUBMISSIONS FROM THE AWARDEES ARE INTERNALLY REVIEWED FOR ACCURACY AND SUBSTANCE PRIOR TO THE RELEASE OF FUNDING. ALL AWARDS ARE REQUIRED TO SUBMIT EITHER A FINAL REPORT AND/OR A PUBLICATION READY MANUSCRIPT BEFORE THE FINAL FUNDING INSTALLMENTS ARE RELEASED. X 1 1 X X 0 0 0 0 0 0 0 0 0 NEAL F KASSELL PRESIDENT, CHAIRMAN 579905 0 0 0 0 0 13986 0 2176 0 596067 0 0 0 TIMOTHY MEAKEM CHIEF MEDICAL OFFICER 312628 0 0 0 0 0 12856 0 20342 0 345826 0 0 0 CHRETIEN MOONEN MANAGING DIRECTOR RESEARCH 283695 0 0 0 0 0 11183 0 1658 0 296536 0 0 0 LAUREN HADLEY ASSOC. DIRECTOR RESEARCH & 249583 0 0 0 0 0 9855 0 9623 0 269061 0 0 0 JOSEPH KILROY RESEARCH PROGRAM MANAGER 248345 0 0 0 0 0 9923 0 9582 0 267850 0 0 0 JESSICA LUKENS MANAGING DIRECTOR 253002 0 0 0 0 0 10067 0 2809 0 265878 0 0 0 PART I, LINE 1A TAXABLE EMPLOYER-SPONSORED GYM PROGRAM OFFERED TO ALL EMPLOYEES THROUGH LOCAL GYM (ACAC). THIS GYM BENEFIT IS INCLUDED IN EMPLOYEE WAGES. X 6 3961036 NYSE X PROJECTOR 1 22000 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE TAX RETURN IS REVIEWED AND APPROVED BY BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ANNUALLY. STANDARDS AND PROCEDURES: (A) THE BOARD OF DIRECTORS SHALL DETERMINE BY MAJORITY VOTE, WHETHER THE DISCLOSURE SHOWS THAT A CONFLICT OF INTERESTS EXISTS OR CAN REASONABLE BE CONSTRUED TO EXIST. (B) THE BOARD OF DIRECTORS MAY REQUEST THE PERSON TO PROVIDE FACTUAL INFORMATION REGARDING THE POTENTIAL OR ACTUAL CONFLICT OF INTERESTS AND SUCH PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT. (C) IF DEEMED APPROPRIATE, THE BOARD OF DIRECTORS MAY APPOINT A NON-INTERESTED PERSON OR COMMITTEE OF SUBCOMMITTEE TO INVESTIGATE ALTERNATIVES TO SUCH PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT. (D) IF A CONFLICT OF INTEREST IS DEEMED TO EXIST, THE PERSON HAVING THE CONFLICT OF INTERESTS SHALL NOT PARTICIPATE OR ATTEND, VOTE ON, OR USE HIS OR HER PERSONAL INFLUENCE IN CONNECTION WITH THE DISCUSSIONS, DELIBERATIONS, OR VOTE WITH RESPECT TO SUCH CONTRACT, TRANSACTION, ARRANGEMENT, OR RELATED MATTERS AFFECTING THE FOUNDATION. (E) AT ANY MEETING OF THE BOARD OF DIRECTORS WHERE SUCH CONTRACT, TRANSACTION, ARRANGEMENT, OR RELATED MATTERS ARE UNDER DISCUSSION OR ARE BEING VOTED UPON, A QUORUM IS PRESENT IF A MAJORITY OF DIRECTORS WHO HAVE NO DIRECT OR INDIRECT PERSONAL INTEREST IN SUCH CONTRACT, TRANSACTION, OR ARRANGEMENT PARTICIPATE IN THE VOTE HELD TO AUTHORIZE, APPROVE, OR RATIFY SUCH CONTRACT, TRANSACTION, OR ARRANGEMENT. (F) IN ORDER TO APPROVE SUCH CONTRACT, TRANSACTION, OR ARRANGEMENT, THE BOARD OF DIRECTORS MUST FIRST FIND, BY MAJORITY VOTE WITHOUT COUNTING THE VOTE OF THE INTERESTED DIRECTOR OR DIRECTORS, THAT (I) THE PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT IS IN THE FOUNDATION'S BEST INTEREST AND FOR ITS OWN BENEFIT: AND (II) THE PROPOSED CONTRACT, TRANSACTION, OR ARRANGEMENT IS FAIR AND REASONABLE TO THE FOUNDATION. (G) THE MINUTES OF THE MEETING SHALL REFLECT THE DISCLOSURE MADE, THE PERSONS PRESENT FOR THE DISCUSSION AND VOTE, THE CONTENT OF THE DISCUSSION, THE VOTE THEREON (INCLUDING ANY ROLL CALL), AND, WHERE APPLICABLE, THE ABSTENTION FROM VOTING AND PARTICIPATION, AND THAT A QUORUM WAS PRESENT. THE FOUNDATION SHALL KEEP MINUTES OF THE DISCUSSIONS AND DELIBERATIONS AS PART OF THE MINUTES OF THE FOUNDATION. CORRECTIVE AND DISCIPLINARY ACTION: THE VIOLATION OF THIS CONFLICTS OF INTEREST POLICY IS A SERIOUS MATTER AND MAY CONSTITUTE "CAUSE" FOR REMOVAL OR TERMINATION OF A DIRECTOR, OFFICER, OR EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 15A AN INDEPENDENT SALARY ASSESSMENT IS OBTAINED AND THE BOARD APPOINTED COMPENSATION COMMITTEE APPROVES THE COMPENSATION FOR THIS INDIVIDUAL. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS AND GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC ON THE FOUNDATION'S WEBSITE, CHARITY NAVIGATOR, GUIDESTAR, AND UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D).