INSTITUTE FOR PATENT STUDIES INC

EIN: 061392628 501(c)(3) Social Science

MIDDLETOWN, NY

Total Revenue
$148,207
Total Expenses
$262,610
Total Assets
$1,228,837
Net Assets
$1,228,837
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
NY
Principal Officer
JOHN MEEKS
Phone
8003926512
Tax Period
2024-01-01 to 2024-12-31

INSTITUTE FOR PATENT STUDIES INC, founded in 1994, is a small nonprofit in the Social Science sector that reported $148K in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $263K exceeded revenue, resulting in a 77% operating deficit.

Mission

EDUCATIONAL PROGRAMS FOR THOSE WHO INTEND TO USE THE US PATENT OFFICE.

Program Service Accomplishments

Program 1
Expenses: $179,431

PROVIDE EDUCATIONAL PROGRAMS FOR STUDENTS PREPARING FOR THE REGISTRATION IN THE PATENT OFFICE. APPROXIMATELY 370 STUDENTS ARE SERVED EACH YEAR.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $63,913
Program Service Revenue $0
Investment Income $84,294
Other Revenue $0
TOTAL REVENUE $148,207

Expense Breakdown

Grants Paid $0
Salaries & Benefits $242,822
Fundraising Expenses $0
Program Expenses $179,431
Other Expenses $19,788
TOTAL EXPENSES $262,610

Year-over-Year Comparison

2024 2023 Change
Revenue $148,207 $116,937 +0.3%
Expenses $262,610 $314,432 -0.2%
Net Income $-114,403 $-197,495 -0.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
1
Employees
2
Volunteers
1

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$229,361
Total Directors
3
$229,361
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN MEEKS PRESIDENT 40.00
Officer Director
$87,983 $21,984 $109,967
DAVID MEEKS VICE PRESIDENT & TREASURER 40.00
Officer Director
$87,983 $21,984 $109,967
EVELYN FRANKLIN SECRETARY 5.00
Officer Director
$9,427 $0 $9,427
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $148,207 $262,610 $1,228,837 $-114,403
2023 $116,937 $314,432 $1,310,470 $-197,495
2022 $170,441 $291,665 $1,397,746 $-121,224
2021 $114,740 $303,614 $1,727,953 $-188,874
2020 $125,429 $293,870 $1,926,075 $-168,441
2019 $108,954 $282,336 $1,947,063 $-173,382
2018 $92,388 $243,062 $1,873,567 $-150,674
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