PUBLIC INVENTION

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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

2019

Legal Domicile

Principal Officer

Robert Read

Phone

5129136103

Tax Period

2024-01-01 to 2024-12-31

PUBLIC INVENTION, founded in 2019, is a small nonprofit in the Science & Technology sector that reported $407K in total revenue in fiscal year 2024. Revenue surged 144% from the prior year, signaling strong growth momentum. The organization ran a surplus of $272K, a strong 67% operating margin.

Mission

Public Invention alleviates poverty and advances education, science, and engineering by creating teams of mostly unpaid volunteers who "Invent in the public, for the Public". All of our activities are open-source and shared with all businesses and persons under open source licenses. We seek to create a movement for open science and invention similar to the open source software movement, but including inventions which help humanity, such as biomedical devices.

Program Service Accomplishments

Program 1

Expenses: $79,982

We had a contract with NASA to develop and deliver a digital control system to drive a solid-state oxygen generator. This device is just beginning commercialization and technology transfer (to...

We had a contract with NASA to develop and deliver a digital control system to drive a solid-state oxygen generator. This device is just beginning commercialization and technology transfer (to another firm) by NASA. This will fill spacesuits, allow the tankage of O2 as a rocket oxidizer necessary for refueling rockets, and scrub dangerous oxygen for gases to be processed in space. Additionally, this could revolutionize treatment of childhood pneumonia, which kills at least a quarter of a million children around the world every year, because it can be scaled down to the size of a single clinical bed, and is expected to be very reliable.

Program 2

Expenses: $29,090 Revenue: $0

The Global Distributed Tracking (GDT) project of the Global Open Source Quality Assurance System (which we lead) addresses the problem of substandard and falsified medical devices in the global...

The Global Distributed Tracking (GDT) project of the Global Open Source Quality Assurance System (which we lead) addresses the problem of substandard and falsified medical devices in the global supply chain. We have created an open-source fully encrypted, anonymously usable track-and-trace system that does not require authentication in low- and middle-income countries. This works by placing a QR code on a device, box, carton, or crate. Anyone with a smartphone can amend the history of the item or group of items. The website is live now: https://gosqas.org/.

Program 3

Expenses: $3,778 Revenue: $0

EcoPot is an attempt to design more efficient cooking pot specifically for the one billion people on Earth who still cook on an open wood fire. This is very inefficient. It requires a great deal of fuel to be gathered or cut, keeping the poorest in poverty. It produces unhealthy smoke, and adds (slightly) to global warming. We are using computation fluid dynamics to attempt to design a more efficient design. This methodology will be shared with the world to create a "challenge", allowing all to participate. We may build a test apparatus for testing pots in miniature, and eventually in full family-size designs.

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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 $406,897

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $406,897

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $1,309

Program Expenses $112,850

Other Expenses $134,931

TOTAL EXPENSES $134,931

Year-over-Year Comparison

	2024	2023	Change
Revenue	$406,897	$166,981	+1.4%
Expenses	$134,931	$170,007	-0.2%
Net Income	$271,966	$-3,026	-90.9%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert L Read	President	55.00	Officer Director Key Emp	$0	$0	$0

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	$406,897	$134,931	$265,409	$271,966