National Inventors Hall Of Fame Inc

Organization Overview

National Inventors Hall Of Fame Inc is located in North Canton, OH. The organization was established in 1988. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, National Inventors Hall Of Fame Inc employed 249 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Inventors Hall Of Fame 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 Inventors Hall Of Fame Inc generated $39.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $29.4m during the year ending 12/2021. While expenses have increased by 4.2% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

A CATALYST FOR CHANGE THROUGH RECOGNIZING INVENTORS AND INVENTIONS, PROMOTING CREATIVITY, AND ADVANCING THE SPIRIT OF INNOVATION AND ENTREPRENEURSHIP.

Describe the Organization's Program Activity:

Part 3 - Line 4a

CHILDREN'S EDUCATION - PROGRAMS AND INITIATIVES TO CREATE PUBLIC AWARENESS OF THE MAJOR ROLE THAT INVENTION, INVENTORS AND PATENTS, TRADEMARKS AND COPYRIGHTS PLAY IN AMERICA'S ECONOMIC AND CULTURAL SUCCESS AND TO NURTURE THE CREATIVE AND INVENTIVE SPIRIT OF AMERICAN CHILDREN AND TO INSPIRE THEM TO ENTER THE EXCITING FIELDS OF SCIENCE AND MATH IN AN EFFORT TO CONTINUE AMERICA'S DOMINANCE IN THE FUTURE.


MUSEUM & INVENTORS EXHIBITS - THE NATIONAL INVENTORS HALL OF FAME MUSEUM HOUSED IN THE US PATENT AND TRADEMARK OFFICE IN ALEXANDRIA, VA. IS OPERATED AND MAINTAINED BY NATIONAL INVENTORS HALL OF FAME, INC. EACH YEAR A NEW EXHIBIT IS BUILT AND INSTALLED AT THE MUSEUM. THE ANNUAL INDUCTION CEREMONY IS ALSO CREATED AND PRODUCED BY NATIONAL INVENTORS HALL OF FAME, INC.


OTHER INVENTOR RECOGNITION - OPERATE RECOGNITION PROGRAMS FOR INVENTORS AND OTHER IP OWNERS AND DEVELOPERS, AND PRODUCE PRIVATE AND PUBLIC EVENTS THAT HONOR EDUCATE, AND ENCOURAGE INDEPENDENT INVENTORS, AND ENTREPRENEURS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Stackadapt Inc
Marketing
$158,675
Xtra Edge Inc
Regional Coordinator
$169,850
Inventextra
Regional Coordinator
$138,755
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $5,746,866
All other contributions, gifts, grants, and similar amounts not included above$5,879,177
Noncash contributions included in lines 1a–1f $160,632
Total Revenue from Contributions, Gifts, Grants & Similar$11,626,043
Total Program Service Revenue$26,094,516
Investment income $1,077,341
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $211,024
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory -$923
Miscellaneous Revenue$0
Total Revenue $39,073,824

Grants Recieved

Over the last fiscal year, we have identified 2 grants that National Inventors Hall Of Fame Inc has recieved totaling $20,000.

Awarding OrganizationAmount
Frederick Mcdonald Trust C/O Trust Dept State Bk Of Ny

Dallas, TX

PURPOSE: UNRESTRICTED GENERAL

$10,000
Laura B Frick Tr U Item 17 Uwo

Pittsburgh, PA

PURPOSE: WAYNE COUNTY AFTERSCHOOL

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$7,359,901
Earnings$889,639
Net Contributions$57,850
Other Expense$108,620
Ending Balance$8,198,770

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