National Inventors Hall of Fame Inc

Analysis

National Inventors Hall of Fame Inc is a registered charity in United States, based in North Canton, OH. It received its IRS tax-exemption ruling in September 1988, 38 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, National Inventors Hall of Fame Inc reported income of $49.3m and spending of $43.7m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $33.9m to $49.3m (+45%), an average of +9.8% a year. The sharpest change came in the year to December 2021, when income rose by 112%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Inventors Hall of Fame Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OH. Charities of a similar size with the same main cause include Universal Communications Network Inc ($48.9m), Chautauqua Institution ($49.3m) and Whyy Inc ($48.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $2.0m (4.5% of expenses). Other salaries and wages came to $14.5m. At year end it held assets of $61.7m against liabilities of $9.3m, net assets of $52.5m. It reported 326 employees.