Overview
What is Freedom To Operate Inc?
Freedom To Operate Inc, based in Greenwich, Connecticut, is a nonprofit organization dedicated to the promotion of medical and scientific research. They achieve this by examining patent literature for potential issues, such as overly broad or invalid patents, or those that hinder access to publicly known medicines. By raising awareness of these problems and taking appropriate actions, such as petitioning Patent Offices or sharing information with interested parties, FTO aids research organizations in their missions, fostering scientific advancement and preventing unnecessary expenditures. Their primary goal is to support and facilitate research in the public interest, ensuring that patent rights do not unjustly impede innovation and progress.
Official website here: www.freedomtooperate.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Overall, Freedom To Operate Inc has a Two-Star out of Four Star rating with a score of 73%. This rating indicates that while the organization meets some important standards for accountability and finance, there are notable areas requiring attention. Achieving a majority of independent board members reflects positively on its governance.
Strengths of Freedom To Operate Inc include a strong performance in areas like material diversion of assets, conflict of interest policy, and program expense ratio. However, the organization struggles with its independent board size and lacks essential policies such as whistleblower protections and document retention. Additionally, there is no transparency regarding the posting of its tax form on its website.
While the organization demonstrates some good practices, these limitations highlight the need for improvement in governance and transparency. Stakeholders may want to consider these factors when evaluating the impact and reliability of Freedom To Operate Inc.
This AI summary has been generated from information found on Charity Navigator.
Is Freedom To Operate Inc legitimate?
Freedom To Operate Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Freedom To Operate 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: $0
For more financial information, click here
Official website here: www.freedomtooperate.org
What is the mission statement of Freedom To Operate Inc?
Freedom to Operate Inc's mission is centered around advancing science and education, specifically in the realm of medical and scientific research for the public benefit. The organization primarily focuses on challenging patent rights that are inappropriately claimed and hinder others from engaging in research and innovation in the public interest. By conducting thorough patent searches, identifying overly broad or potentially invalid patents, and raising public awareness about these issues, Freedom to Operate Inc aims to facilitate efficient research, expedite scientific advancement, and prevent unnecessary expenditures. The organization's actions ultimately support research organizations in achieving their goals and contributing to the broader public good.
Official website here: www.freedomtooperate.org
Who is the CEO of Freedom To Operate Inc?
Carey Turnbull is the Director of Freedom To Operate Inc.
Official website here: www.freedomtooperate.org
What is the revenue of Freedom To Operate Inc?
Freedom To Operate Inc's revenue in 2022 was $531,904.
Official website here: www.freedomtooperate.org
Who are the executives of Freedom To Operate Inc and what are their salaries?
There 1 volunteer at Freedom To Operate Inc.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.freedomtooperate.org
Where can I find the form 990 for Freedom To Operate Inc?
Freedom To Operate Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.freedomtooperate.org
Learn more at the official website: www.freedomtooperate.org
Mission Statement of Freedom To Operate Inc
Freedom To Operate Inc, as a nonprofit organization, is dedicated to supporting and facilitating medical and scientific research in the public interest for the benefit of the general population. Their primary mission involves challenging patent rights that are improperly claimed and inappropriately hinder others from engaging in research and innovation in the public interest. By conducting thorough patent searches in the patent literature, they identify patents that are overly broad, potentially invalid, or may obstruct access to publicly known and available medicinal products.
In an effort to raise awareness about these issues, Freedom To Operate Inc takes various actions. They may petition relevant Patent Offices, share information with journalists, and provide data to interested organizations involved in research and development of the known and available medicinal products. These initiatives aim to streamline research processes, expedite scientific advancement, and prevent unnecessary expenditures. By promoting a more efficient research environment, Freedom To Operate Inc contributes to the overall progress and betterment of medical and scientific research in the public interest.
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Impact
July, 2024
Freedom To Operate Inc's impact lies in its mission to support and facilitate medical and scientific research in the public interest by challenging certain patent rights that may hinder research and innovation. By identifying overbroad or potentially invalid patents, FTO enables research organizations to work more efficiently, expedite scientific advancement, and avoid wasteful expenditures. Through actions like petitioning Patent Offices and raising public awareness, FTO plays a crucial role in ensuring access to publicly known medicinal products and promoting progress in the field of medical research.
This information is meant to be a general summary of Freedom To Operate 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: $33
- Gross Receipts: $531,904
Assets and Liabilities:
- Total Assets: $2,897
- Total Liabilities: $0
- Net Assets: $2,897
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Organization Details
Founding Year
2020
Phone
(203) 554-7725Principal Officer
Carey Turnbull
Main Address
15 East Putnam Avenue 413, Greenwich, CT, 068305424
Website
www.freedomtooperate.orgNTEE Category
Code: H00 - Medical research
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