National Academy Of Inventors Inc
- Assets
- $3.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 3
- Location
- Tampa, FL
- Founding
- 08/2010
- Data as of
- 12/2021
- EIN
- 27-2310390
Organization Overview
National Academy Of Inventors Inc is located in Tampa, FL. The organization was established in 2010. According to its NTEE Classification (U20) the organization is classified as: General Science, under the broad grouping of Science & Technology and related organizations. As of 12/2021, National Academy Of Inventors Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Academy Of Inventors Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, National Academy Of Inventors Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 15.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ACADEMY OF INVENTORS IS 100% DEEVOTED TO INSTRUCTING INDIVIDUALS IN AN EFFORT TO IMPROVE SKILLS AS INVENTORS AND INSTRUCTING THE PUBLIC AS TO THE BENEFITS OF INNOVATION. THE SUBLECT MATTER OF THE EDUCATION ENCOMPASSES ESSENTIALLY THE ENTIRE FIELDS OF APPLIED SCIENCE WITH A FOCUS ON TRANSFORMATIVE TECHNOLOGY AND ACADEMIC INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
NAI ANNUAL MEETING THE NAI ANNUAL MEETING IS HELD EACH SPRING AND FEATURES STIMULATING PRESENTATIONS AND NETWORLING WITH RENOWNED INVENTORS FROM ACCROSS THE US AND AROUND THE WORLD. THE MEETING SERVES AS AN ARENA WHERE INNOVATION AND ENTREPRESNEIRSHIP IN THE ACADEMIC WORLD, LEADING LOCAL AND NATIONAL ECONOMIC DEVELOPMENT IS RECOGNIZED, HONOURED AND CULTIVATED.
BRICK AND MORTAR IS IS ESTIMATED TO BUILD A PHYSICAL OFFICE BUILDING IN AN OFFSITE LOCATION FOR THE FOUNDATION. THE BOARD HAS CHOSEN TO ASSIGN 100,000 PER YEAR TO THIS FUND UNTIL BUILDING PLANS ETC CAN COMMENCE.
GRANT FOR FEES: THE BOARD HAS ELECTED TO FUND AN NAI RESERVE FOR SUPPORTING MEMEBERS IN HARDSHIP AND RETIREMENT. THIS ALSO INCLUDES MEMBER INSTITUTIONS WHO MIGHT HAVE BUDGET RESTRICTIONS AND TO SUPPORT SUPPORT OUR FELLOWS WHO MAY BE UNABLE TO CONTINUE MEMBERSHIP DUE TO THE FACT THAT THEY RETIRED AND OR INCOME HAS CHANGED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna M Leese DE Escobar Ex Officio | OfficerTrustee | $0 | |
Paul R Sanberg President | OfficerTrustee | $0 | |
Dr Howard J Federoff Vice Preside | OfficerTrustee | $0 | |
Dr Sudeep Sarkar Treasurer | OfficerTrustee | $0 | |
Robert V Duncan Director | Trustee | $0 | |
Elizabeth Dougherty Ex Officio | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $272,596 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $272,596 |
| Total Program Service Revenue | $867,793 |
| Investment income | $477 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,596,737 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $123,059 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,288 |
| Fees for services: Management | $400,962 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,152 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,005 |
| Advertising and promotion | $6,975 |
| Office expenses | $945 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $712 |
| Conferences, conventions, and meetings | $12,349 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,458 |
| All other expenses | $50,222 |
| Total functional expenses | $1,245,965 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,253 |
| Savings and temporary cash investments | $3,109,718 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,411 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,256,382 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,256,382 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,256,382 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Academy Of Inventors Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
The Lemelson Foundation Portland, OR PURPOSE: TO PROVIDE CONFERENCE SUPPORT TO NAI'S 2021 ANNUAL MEETING. | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Academy Of Inventors Inc Tampa, FL | $3,256,382 | $1,596,737 |
Science Atl Inc Decatur, GA | $783,447 | $966,466 |
Unlab Inc Savannah, GA | $216,434 | $937,058 |
Florida Fruit & Vegetable Research & Education Foundation Inc Maitland, FL | $1,350,511 | $548,670 |
The Citizen Scientists League Inc Sarasota, FL | $360,998 | $531,918 |
Decatur Makers Inc Decatur, GA | $135,531 | $284,553 |
Georgia Youth Science & Technology Center Inc Carrollton, GA | $130,949 | $181,950 |
Florida Academy Of Sciences Inc Melbourne, FL | $922,377 | $87,060 |
Florida Artificial Intelligence Research Soc Coral Gables, FL | $115,652 | $0 |
Florida International University Research Foundation Incorporated Miami, FL | $365,383 | $285,000 |
Council For Nail Disorders Inc Johns Creek, GA | $35,097 | $0 |
Share Science Inc Orlando, FL | $254,253 | $0 |