WIRELESS POWER CONSORTIUM INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2019

Legal Domicile

Principal Officer

PAUL STRUHSAKER

Phone

2029335055

Tax Period

2023-01-01 to 2023-12-31

WIRELESS POWER CONSORTIUM INC, founded in 2019, is a community nonprofit in the Community Improvement sector that reported $6.1M in total revenue in fiscal year 2023. Expenses of $8.8M exceeded revenue, resulting in a 45% operating deficit.

Mission

WIRELESS POWER CONSORTIUM IS AN OPEN, STANDARDS DEVELOPMENT ORGANIZATION. OUR MEMBERS COLLABORATE WITH A SINGLE PURPOSE: WORLDWIDE COMPATIBILITY OF ALL WIRELESS CHARGERS AND WIRELESS POWER SOURCES.

Program Service Accomplishments

Program 1

BOARD OF DIRECTORS APPROVED THE FINAL DRAFT VERSIONS OF THE QI V2.0 INTERFACE SPECIFICATION AND THE V2.0 MPP TEST TOOL SPECIFICATIONS. QI V2.0 SOFT LAUNCH BEGAN OCTOBER, 2023 ENABLING MEMBERS TO TEST AND CERTIFY QI V2.0 PRODUCTS. WPC ALSO APPROVED THE COMMERCIAL REQUIREMENTS AND BEGAN STANDARDS DEVELOPMENT FOR QI FAST CHARGING.

Program 2

SIGNIFICANT CHANGES AND IMPROVEMENTS MADE IN THE QUALITY AND OPERATIONS ORGANIZATIONS. WPC REVISED ITS TEST PLATFORM VALIDATION PROCESSES, TEST LAB AUTHORIZATION PROCESSES AND PRODUCT CERTIFICATION PROCESSES. WPC LAUNCHED NEW PRODUCT CERTIFICATION PLATFORM AND TEST RESULTS DATABASE. CHANGES ENABLE WPC TO SUPPORT MULTIPLE STANDARDS CONCURRENTLY AND SCALE OPERATIONS AND CERTIFICATION ACTIVITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,846,668

Investment Income $216,872

Other Revenue $5,856

TOTAL REVENUE $6,069,396

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,173,721

Fundraising Expenses $0

Other Expenses $6,646,459

TOTAL EXPENSES $8,820,180

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,069,396	$6,244,735	0.0%
Expenses	$8,820,180	$5,809,541	+0.5%
Net Income	$-2,750,784	$435,194	-7.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

249

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$382,723

Total Directors

Key Employees

$500,656

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FADY MISHRIKI	CHAIR	4.00	Officer Director	$0	$0	$0
TONY FRANCESCA	VICE CHAIR	4.00	Officer Director	$0	$0	$0
BERND ECKERT	BOARD DIRECTOR	4.00	Director	$0	$0	$0
HANS KABLAU	BOARD DIRECTOR	4.00	Director	$0	$0	$0
VAMSHIDHAR KANDALLA	BOARD DIRECTOR	4.00	Director	$0	$0	$0
SE HO PARK	BOARD DIRECTOR	4.00	Director	$0	$0	$0
YONGCHEOL PARK	BOARD DIRECTOR	4.00	Director	$0	$0	$0
VLADIMIR MURATOV	BOARD DIRECTOR	4.00	Director	$0	$0	$0
LIYU WANG	BOARD DIRECTOR	4.00	Director	$0	$0	$0
VACLAV HALBICH	BOARD DIRECTOR (UNTIL 9/2023)	4.00	Director	$0	$0	$0
PAUL STRUHSAKER	EXECUTIVE DIRECTOR	40.00	Officer	$360,083	$22,640	$382,723
T J ZSEMBA	TREASURER	15.00	Officer	$0	$0	$0
VIGDIS BRONDER	SECRETARY	2.00	Officer	$0	$0	$0
MITCH KETTRICK	DIRECTOR OF QUALITY	40.00	Key Emp	$232,875	$22,753	$255,628
MICHAEL ECKERT	DIR. OF OPERATIONS (FROM 1/2023)	40.00	Key Emp	$229,167	$15,861	$245,028
ROHIT GOYAL	DIR. OF PROGRAM MANAGEMENT OFFICE	40.00	Highest	$234,576	$27,393	$261,969
DOUGLAS WARD	DIRECTOR OF IT	40.00	Highest	$194,907	$6,174	$201,081
VINAY SUBRAMANI	PROGRAM MANAGER	40.00	Highest	$142,458	$21,227	$163,685
FRANKLIN ROSE	TEST ENGINEER	40.00	Highest	$133,100	$22,599	$155,699
KAREEM HABIB	TEST ENGINEER (UNTIL 3/2023)	40.00	Highest	$102,564	$6,496	$109,060

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$6,069,396	$8,820,180	$13,378,511	$-2,750,784
2022	$6,244,735	$5,809,541	$14,734,752	$435,194
2021	$6,732,704	$3,819,466	$14,746,488	$2,913,238
2020	$2,127,084	$1,596,855	$12,705,445	$530,229