Innovative Optical And Wireless Network Global Forum Inc
- Assets
- $5.9m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Wakefield, MA
- Founding
- Data as of
- 12/2023
- EIN
- 84-4628405
Organization Overview
Innovative Optical And Wireless Network Global Forum Inc is located in Wakefield, MA. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovative Optical And Wireless Network Global Forum Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Innovative Optical And Wireless Network Global Forum Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 21.6% each year . All expenses for the organization totaled $2.5m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROPEL TECHNOLOGIES IN COMMUNICATION AND NETWORK INFRASTRUCTURE TO MEET TECHNOLOGICAL CHALLENGES AND SOCIAL NEEDS SO THAT WE WILL BE ABLE TO CONTRIBUTE TO DELIVERING THE BEST VALUE TO ALL GLOBAL CITIZENS, MAKING THE WORLD A BETTER PLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, IOWN GLOBAL FORUM EXPANDED ITS LIAISON PARTNERSHIP PROGRAM TO MAKE CONNECTIONS WITH KEY INDUSTRY ORGANIZATIONS, PUBLISHED THE VISION 2030 WHITE PAPER 2.0 AND THE KEY VALUES AND TECHNOLOGY EVOLUTION ROADMAP 1.0, PUBLISHED OVER 10 ADDITIONAL REFERENCE DOCUMENTS, AND APPROVED THE FIRST RECOGNIZED PROOF OF CONCEPT (POC) DEMONSTRATING THE VIABILITY, VALUE, AND PERFORMANCE OF IOWN BASED TECHNOLOGIES.
THE ORGANIZATION CONDUCTED ITS 3RD ANNUAL MEMBER MEETING IN APRIL 2023, AND HELD ITS 6TH MEMBER MEETING IN SEPTEMBER.
OVER THE COURSE OF 2023, MEMBERSHIP INCREASED TO 139 ORGANIZATIONS BY THE END OF 2023, AND THE BOARD OF DIRECTORS EXPANDED TO THIRTEEN DIRECTORS IN THE ANNUAL ELECTION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katsuhiko Kawazoe Chairperson | OfficerTrustee | 3 | $0 |
Geng Wu Treasurer | OfficerTrustee | 3 | $0 |
Masayuki Hattori Secretary | OfficerTrustee | 3 | $0 |
Stephen Alexander Director | Trustee | 3 | $0 |
Per Beming Director | Trustee | 3 | $0 |
Gilles Bourdon Director | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Westin Paris - Vendomethe Westin Par Meeting Host | 12/30/23 | $114,480 |
Maverick Productions Boston Llc Videos Production | 12/30/23 | $230,000 |
Seyfarth Shaw Llp Legal Services | 12/30/23 | $101,956 |
Virtual Inc Management Consulting | 12/30/23 | $874,925 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,555,200 |
| Investment income | $0 |
| 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 | $3,555,200 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $554,684 |
| Fees for services: Legal | $121,897 |
| Fees for services: Accounting | $12,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $714,565 |
| Office expenses | $139,923 |
| Information technology | $21,774 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $949,295 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,140 |
| All other expenses | $0 |
| Total functional expenses | $2,519,478 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,553,932 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $234,000 |
| 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 | $73,383 |
| 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 | $5,861,315 |
| Accounts payable and accrued expenses | $138,146 |
| Grants payable | $0 |
| Deferred revenue | $1,612,127 |
| 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 | $1,750,273 |
| Net assets without donor restrictions | $4,111,042 |
| 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 | $5,861,315 |