Overview
What is National Academy Of Inventors Inc?
The National Academy of Inventors Inc is a nonprofit organization dedicated to fostering innovation and enhancing inventor skills across diverse scientific fields. Their primary mission involves educating individuals and promoting the public's understanding of the benefits that innovation brings, with a particular focus on transformative technology and academic innovation. The organization's annual meeting serves as a networking platform for renowned inventors worldwide, encouraging entrepreneurship in technology. Furthermore, the NAI has established an NAI reserve to support members facing financial difficulties or retirement, as well as member institutions and fellows with budget constraints or membership continuation challenges.
Official website here: www.academyofinventors.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 stars (29%)
The National Academy of Inventors Inc has received a low rating of 29%, which translates to a Zero-Star out of Four Star rating. This indicates significant concerns regarding the organization's accountability and financial practices. While the charity boasts a fully independent board, the lack of financial statements and missing key policies like conflict of interest and whistleblower protections raise serious red flags regarding its governance.
One positive aspect is the absence of any material diversion of assets, demonstrating that the charity has not mismanaged its resources. Additionally, the organization maintains proper documentation for its board meetings, which suggests some level of operational transparency. However, the overall picture is overshadowed by the absence of critical financial reporting and transparency measures.
The charity's program expense ratio stands at 49.67%, indicating that less than half of its expenditures are directed toward its programs. This low figure, combined with missing financial documentation and policies, highlights the need for the organization to improve its practices to build trust and enhance its accountability to stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is National Academy Of Inventors Inc legitimate?
National Academy Of Inventors Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Academy Of Inventors Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $120,253
For more financial information, click here
Official website here: www.academyofinventors.org
What is the mission statement of National Academy Of Inventors Inc?
The National Academy of Inventors is committed to educating individuals to enhance their inventing skills and promoting the benefits of innovation across various fields of applied science, with a focus on transformative technology and academic innovation. They achieve this mission through their annual meetings, which provide a platform for networking with renowned inventors worldwide and fostering entrepreneurship in technology. The organization also has an NAI reserve to support members facing financial challenges or retirement, as well as member institutions and fellows who may encounter membership continuation issues due to financial constraints.
Official website here: www.academyofinventors.org
Who is the CEO of National Academy Of Inventors Inc?
Paul R Sanberg is the Treasurer of National Academy Of Inventors Inc.
Official website here: www.academyofinventors.org
What is the revenue of National Academy Of Inventors Inc?
National Academy Of Inventors Inc's revenue in 2022 was $1,508,515.
Official website here: www.academyofinventors.org
Who are the executives of National Academy Of Inventors Inc and what are their salaries?
The average compensation at National Academy Of Inventors Inc during 2022 was $30,063. There are 4 employees at National Academy Of Inventors Inc.
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Official website here: www.academyofinventors.org
Where can I find the form 990 for National Academy Of Inventors Inc?
National Academy Of Inventors Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.academyofinventors.org
Learn more at the official website: www.academyofinventors.org
Mission Statement of National Academy Of Inventors Inc
The National Academy of Inventors is dedicated to educating individuals, aiming to enhance their inventive skills. This organization's focus extends across various fields of applied science, with a particular emphasis on transformative technology and academic innovation. The primary objective of the National Academy of Inventors is to instruct the public on the benefits of innovation, advocating for its importance in numerous disciplines. The Academy strives to promote a culture of innovation and entrepreneurship, providing a platform for renowned inventors to connect and share their experiences at the annual meeting held each spring. Furthermore, the organization has established an NAI reserve to offer support to its members facing financial challenges or retirement, as well as to member institutions with budget constraints and fellows who may struggle to maintain their membership.
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Impact
October, 2024
The National Academy of Inventors Inc significantly impacts the fields of innovation and applied science through its dedicated efforts to educate and empower individuals to enhance their inventing skills. By focusing on transformative technology and academic innovation, the Academy serves as a vital resource for aspiring and established inventors alike.
Through its annual meetings, the Academy fosters networking opportunities with esteemed inventors globally, promoting collaboration and entrepreneurship within the technology sector. This environment encourages the exchange of ideas and helps to drive advancements in various industries.
The Academy also plays a crucial role in advocating for the benefits of innovation, informing the public about its importance, and inspiring the next generation of inventors. Additionally, with initiatives aimed at supporting members facing financial challenges, the Academy ensures that access to its resources and community remains inclusive, thereby bolstering the innovation landscape for all.
This information is meant to be a general summary of National Academy Of Inventors Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $7,210
- Program Service Revenue: $966,320
- Gross Receipts: $1,508,515
Assets and Liabilities:
- Total Assets: $3,620,222
- Total Liabilities: $0
- Net Assets: $3,620,222
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$442,676
FELLOW DUES
Revenue
$245,337
REGISTRATION FEES
Revenue
$237,555
SENIOR MEMBER DUES
Revenue
$40,752
Organization Details
Founding Year
2009
Phone
(813) 974-5862Principal Officer
Paul R Sanberg
Main Address
3702 SPECTRUM BLVD RM/STE 180, TAMPA, FL, 336129444
Website
www.academyofinventors.orgNTEE Category
Code: U20 - Science research
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