Freedom To Operate Inc
- Assets
- $0.0
- Revenue
- $13.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Greenwich, CT
- Founding
- Data as of
- 12/2023
- EIN
- 85-0498384
Organization Overview
Freedom To Operate Inc is located in Greenwich, CT. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freedom To Operate 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 12/2023, Freedom To Operate Inc generated $13.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (54.9%) each year. All expenses for the organization totaled $15.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (52.0%) per year over the past 4 years. 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
TO ADVANCE SCIENCE AND EDUCATION AND, SPECIFICALLY, TO SUPPORT AND FACILITATE MEDICAL AND SCIENTIFIC RESEARCH IN THE PUBLIC INTEREST FOR THE PUBLIC BENEFIT, PRIMARILY BY CHALLENGING CERTAIN PATENT RIGHTS WHICH ARE IMPROPERLY CLAIMED AND WHICH INAPPROPRIATELY PREVENT OTHERS FROM ENGAGING IN RESEARCH AND INNOVATION IN THE PUBLIC INTEREST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FTO PROMOTES MEDICAL AND SCIENTIFIC RESEARCH BY SEARCHING PATENT LITERATURE FOR ISSUED OR PENDING PATENTS TO IDENTIFY THOSE WHICH ARE OVERBROAD OR POTENTIALLY INVALID OR WHICH MAY INTERFERE WITH ACCESS TO PUBLICLY KNOWN AND AVAILABLE MEDICINAL PRODUCTS. FTO MAY THEN TAKE ACTION TO RAISE PUBLIC AWARENESS OF IDENTIFIED PROBLEMS WITH THESE PATENTS AND PATENT APPLICATIONS, THROUGH PETITIONING RELEVANT PATENT OFFICES, PROVIDING INFORMATION TO JOURNALISTS, AND PROVIDING INFORMATION TO INDIVIDUALS AND ORGANIZATIONS THAT ARE INTERESTED IN RESEARCH AND DEVELOPMENT OF THE KNOWN AND AVAILABLE MEDICINAL PRODUCTS. THESE ACTIONS ALLOW RESEARCH ORGANIZATIONS TO MORE EFFICIENTLY ACHIEVE THEIR GOALS, TO EXPEDITE SCIENTIFIC ADVANCEMENT, AND TO AVOID WASTEFUL EXPENDITURES.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,500 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,000 |
| Total Program Service Revenue | $0 |
| Investment income | $14 |
| 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 | $13,014 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $750 |
| Office expenses | $2,236 |
| Information technology | $537 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $7,938 |
| Total functional expenses | $15,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $0 |
| 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 | $0 |
| 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 | $0 |