INSTITUTE FOR PATENT STUDIES INC (EIN 061392628) - Form 990 Financial Analysis & Trantor Score

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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

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 STUDENTS PREPARING FOR THE REGISTRATION IN THE PATENT OFFICE

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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%)

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$229,361

Total Directors

$229,361

Key Employees

Highest Compensated

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

INSTITUTE FOR PATENT STUDIES INC