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Nonprofiteer
← NATIONAL INVENTORS HALL OF FAME INC

Form 990 for tax year 2024

Filed by NATIONAL INVENTORS HALL OF FAME INC.

Totals

Total revenue
$53,389,777
Total expenses
$45,214,422
Contributions and grants received
$14,078,095
Grants paid
$145,534
Program service revenue
$36,564,409
Investment income
$2,607,094
Other revenue
$140,179
Total assets, end of year
$73,109,489
Total liabilities, end of year
$10,152,683
Net assets or fund balances, end of year
$62,956,806
Program services expenses (Part IX)
$38,105,673
Management and general expenses
$5,800,898
Fundraising expenses
$1,307,851
Program service expenses (Part III)
$38,105,673

Program services were 84.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $6,785,289

  • 1f · All other contributions, gifts and grants

    $7,292,806

  • 1g · Noncash contributions included above

    $200,186

  • 2a · Program service revenue: PRE K-12 PROGRAMMING

    total $36,564,409 · related or exempt $36,564,409

  • 3 · Investment income

    total $2,131,638 · excluded $2,131,638

  • 7a · Gross sales of assets other than inventory

    securities $4,513,829

  • 7b · Less cost or other basis and sales expenses

    securities $4,038,373

  • 7c · Gain or loss

    securities $475,456

  • 7d · Net gain or loss

    total $475,456 · excluded $475,456

  • 10a · Gross sales of inventory

    $129,638

  • 10b · Cost of goods sold

    $67,501

  • 10c · Net income from sales of inventory

    total $62,137 · excluded $62,137

  • 11a · Other revenue: OTHER INCOME

    total $78,042 · related or exempt $78,042

  • 11e · Other revenue, total

    $78,042

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $145,534 · program services $145,534

  • 5 · Compensation of officers, directors and key employees

    total $1,624,341 · program services $349,794 · management and general $1,049,383 · fundraising $225,164

  • 7 · Other salaries and wages

    total $15,620,516 · program services $13,211,785 · management and general $1,799,416 · fundraising $609,315

  • 8 · Pension plan contributions

    total $331,994 · program services $230,693 · management and general $76,553 · fundraising $24,748

  • 9 · Other employee benefits

    total $1,785,081 · program services $1,499,422 · management and general $223,967 · fundraising $61,692

  • 10 · Payroll taxes

    total $1,276,987 · program services $973,045 · management and general $230,273 · fundraising $73,669

  • 11b · Fees: legal

    total $129,408 · program services $9,048 · management and general $103,284 · fundraising $17,076

  • 11d · Fees: lobbying

    total $53,413 · program services $10,768 · management and general $36,518 · fundraising $6,127

  • 11f · Fees: investment management

    total $162,406 · management and general $162,406

  • 11g · Fees: other

    total $1,959,041 · program services $962,709 · management and general $917,732 · fundraising $78,600

  • 12 · Advertising and promotion

    total $2,130,629 · program services $2,119,646 · fundraising $10,983

  • 13 · Office expenses

    total $1,819,655 · program services $1,789,873 · management and general $5,914 · fundraising $23,868

  • 16 · Occupancy

    total $1,153,534 · program services $947,447 · management and general $191,968 · fundraising $14,119

  • 17 · Travel

    total $696,615 · program services $624,251 · management and general $32,290 · fundraising $40,074

  • 19 · Conferences, conventions and meetings

    total $15,032 · program services $3,031 · management and general $10,277 · fundraising $1,724

  • 20 · Interest

    total $28,127 · program services $5,671 · management and general $19,230 · fundraising $3,226

  • 22 · Depreciation, depletion and amortization

    total $575,664 · program services $487,023 · management and general $71,954 · fundraising $16,687

  • 23 · Insurance

    total $200,146 · program services $23,798 · management and general $176,348

  • 24a · Other expenses: PROGRAM SERVICES

    total $7,258,282 · program services $7,258,282 · management and general $0 · fundraising $0

  • 24b · Other expenses: SUPPLIES

    total $6,907,911 · program services $6,766,813 · management and general $138,649 · fundraising $2,449

  • 24c · Other expenses: MISCELLANEOUS

    total $695,237 · program services $140,158 · management and general $475,328 · fundraising $79,751

  • 24d · Other expenses: BANK CHARGES

    total $546,421 · program services $527,037 · management and general $12,100 · fundraising $7,284

  • 24e · All other expenses

    total $98,448 · program services $19,845 · management and general $67,308 · fundraising $11,295

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $362,800 · end of year $547,793

  • 2 · Savings and temporary cash investments

    beginning of year $10,984,136 · end of year $14,396,426

  • 3 · Pledges and grants receivable

    beginning of year $1,141,071 · end of year $2,535,368

  • 4 · Accounts receivable

    beginning of year $299,006 · end of year $122,645

  • 8 · Inventories for sale or use

    beginning of year $8,575,062 · end of year $8,586,937

  • 9 · Prepaid expenses and deferred charges

    beginning of year $488,721 · end of year $1,387,114

  • 10a · Land, buildings and equipment: cost or other basis

    $16,771,490

  • 10b · Land, buildings and equipment: accumulated depreciation

    $7,411,598

  • 10c · Land, buildings and equipment, net

    beginning of year $8,205,982 · end of year $9,359,892

  • 11 · Investments: publicly traded securities

    beginning of year $30,038,585 · end of year $34,421,788

  • 12 · Investments: other securities

    beginning of year $1,356,403 · end of year $1,429,516

  • 15 · Other assets

    beginning of year $282,137 · end of year $322,010

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,965,540 · end of year $3,764,399

  • 19 · Deferred revenue

    beginning of year $3,239,413 · end of year $3,622,557

  • 25 · Other liabilities

    beginning of year $2,062,141 · end of year $2,765,727

  • 27 · Net assets without donor restrictions

    beginning of year $48,052,233 · end of year $56,681,344

  • 28 · Net assets with donor restrictions

    beginning of year $4,414,576 · end of year $6,275,462

Mission and programs · 2024

Mission

A CATALYST FOR CHANGE THROUGH RECOGNIZING INVENTORS AND INVENTIONS, PROMOTING CREATIVITY, AND ADVANCING THE SPIRIT OF INNOVATION AND ENTREPRENEURSHIP.

  • CHILDREN'S EDUCATION - PROGRAMS AND INITIATIVES TO CREATE PUBLIC AWARENESS OF THE MAJOR ROLE THAT INVENTION, INVENTORS AND PATENTS, TRADEMARKS AND COPYRIGHTS PLAY IN AMERICA'S ECONOMIC AND CULTURAL SUCCESS AND TO NURTURE THE CREATIVE AND INVENTIVE SPIRIT OF AMERICAN CHILDREN AND TO INSPIRE THEM TO ENTER THE EXCITING FIELDS OF SCIENCE AND MATH IN AN EFFORT TO CONTINUE AMERICA'S DOMINANCE IN THE FUTURE.

    Expenses $34,268,211 · Grants $145,534 · Revenue $36,642,451

  • OTHER INVENTOR RECOGNITION - OPERATE RECOGNITION PROGRAMS FOR INVENTORS AND OTHER IP OWNERS AND DEVELOPERS, AND PRODUCE PRIVATE AND PUBLIC EVENTS THAT HONOR EDUCATE, AND ENCOURAGE INDEPENDENT INVENTORS, AND ENTREPRENEURS.

    Expenses $2,797,504

  • MUSEUM & INVENTORS EXHIBITS - THE NATIONAL INVENTORS HALL OF FAME MUSEUM HOUSED IN THE US PATENT AND TRADEMARK OFFICE IN ALEXANDRIA, VA. IS OPERATED AND MAINTAINED BY NATIONAL INVENTORS HALL OF FAME, INC. EACH YEAR A NEW EXHIBIT IS BUILT AND INSTALLED AT THE MUSEUM. THE ANNUAL INDUCTION CEREMONY IS ALSO CREATED AND PRODUCED BY NATIONAL INVENTORS HALL OF FAME, INC.

    Expenses $1,039,958 · Revenue $62,137

As filed on the 2024 return.

Listed in Part VII

  • Chen Wang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Deborah Cohn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Jean Bailey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Edward W Gray Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Frank C Steininger

    ASST TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Gary Sterling

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • James Kraus

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jon Wood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joseph Schuman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Moussa Coulibaly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Patrick Bravo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Renee Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Richard Pogue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sandra Nowak

    ASST. SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Steven Sasson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Thomas Wolf

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Wesley Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Robert W Briggs

    BOARD MEMBER EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Hannah Paulin

    SECRETARY/CSO NIHF

    Total calculated
    $225,165
    From this org
    $169,059
    From related orgs
    $0
    Other
    $56,106
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,698
    Bonus
    $37,361
    Other
    $0
    Deferred
    $42,761
    Nontaxable benefits
    $13,345
    Filer's total
    $225,165

  • Michael Oister

    PRESIDENT/CEO NIHF

    Total calculated
    $873,137
    From this org
    $652,630
    From related orgs
    $0
    Other
    $220,507
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $465,630
    Bonus
    $187,000
    Other
    $0
    Deferred
    $198,800
    Nontaxable benefits
    $21,707
    Filer's total
    $873,137

  • Monica Jones

    VICE PRESIDENT/COO NIHF

    Total calculated
    $385,608
    From this org
    $306,661
    From related orgs
    $0
    Other
    $78,947
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $220,544
    Bonus
    $56,648
    Other
    $29,469
    Deferred
    $65,602
    Nontaxable benefits
    $13,345
    Filer's total
    $385,608

  • Taylor Smith

    TREASURER/EVP, FIN.

    Total calculated
    $169,901
    From this org
    $129,090
    From related orgs
    $0
    Other
    $40,811
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,861
    Bonus
    $19,229
    Other
    $0
    Deferred
    $19,113
    Nontaxable benefits
    $21,698
    Filer's total
    $169,901

  • Ashley Kellicker

    EVP, EDUCATIONAL PARTNERSH

    Total calculated
    $270,854
    From this org
    $226,543
    From related orgs
    $0
    Other
    $44,311
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,877
    Bonus
    $79,666
    Other
    $0
    Deferred
    $31,000
    Nontaxable benefits
    $13,311
    Filer's total
    $270,854

  • Christine Jayo

    DIRECTOR, CUSTOMIZED PROGR

    Total calculated
    $157,202
    From this org
    $147,418
    From related orgs
    $0
    Other
    $9,784
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $87,174
    Bonus
    $60,244
    Other
    $0
    Deferred
    $3,600
    Nontaxable benefits
    $6,184
    Filer's total
    $157,202

  • Katie Duffy

    GENERAL COUNSEL

    Total calculated
    $236,801
    From this org
    $228,166
    From related orgs
    $0
    Other
    $8,635
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,166
    Bonus
    $5,000
    Other
    $0
    Deferred
    $2,077
    Nontaxable benefits
    $6,558
    Filer's total
    $236,801

  • Rini Paiva

    EVP, SELECTION & RECOGNITION

    Total calculated
    $161,443
    From this org
    $149,693
    From related orgs
    $0
    Other
    $11,750
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $127,974
    Bonus
    $21,719
    Other
    $0
    Deferred
    $5,192
    Nontaxable benefits
    $6,558
    Filer's total
    $161,443

  • Tracie Merendino

    VP, EDUCATIONAL PARTNERSHI

    Total calculated
    $184,123
    From this org
    $148,369
    From related orgs
    $0
    Other
    $35,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $101,698
    Bonus
    $46,671
    Other
    $0
    Deferred
    $22,425
    Nontaxable benefits
    $13,329
    Filer's total
    $184,123

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
RETIREMENT AND OTHER COMPENSATION INCLUDES 401K MATCH CONTRIBUTIONS AS WELL AS DEFERRED COMPENSATION ACCRUALS WHICH WILL NOT BE EARNED UNTIL ALL PROVISIONS OF RISK OF FORFEITURE HAVE BEEN MET. DURING THE CURRENT YEAR, THE ORGANIZATION MADE CONTRIBUTIONS TO A 457(F) NONQUALIFIED DEFERRED COMPENSATION PLAN FOR THE FOLLOWING INDIVIDUALS LISTED ON PART VII OF THE FORM 990: MICHAEL OISTER: $165,000 MONICA JONES: $56,648 HANNAH PAULIN: $37,361 TAYLOR SMITH: $14,421 ASHLEY KELLICKER: $25,000 TRACIE MERENDINO: $18,750 DURING THE CURRENT YEAR, THE ORGANIZATION MADE CONTRIBUTIONS TO A 457(B) NONQUALIFIED DEFERRED COMPENSATION PLAN FOR THE FOLLOWING INDIVIDUAL LISTED ON PART VII OF THE FORM 990: MICHAEL OISTER: $20,000

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
28 April 2025
IRS schema version
2024v5.1
Source object
202531259349301603

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