The Ip Law Foundation
Nonprofit profile at a glance
- EIN
- 542019670
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024, Form 990-EZ 2009
- Location
- Arlington, VA, USA
- Phone
- 7034124342
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $306,811
- Expenses
- $368,321
- Assets
- $1,557,386
- Liabilities
- $14,909
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
42 people listed
Executive titles in this filing
- HA KUNG WONG (PRESIDENT)
- MARYLEE JENKINS (PRESIDENT EL)
People named in this filing
- KIERA MATHEY (CHAIR)
- HA KUNG WONG (PRESIDENT)
- MARYLEE JENKINS (PRESIDENT EL)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Helps offer career-preparation, career-readiness, and career-advancement support to students interested in the patent law profession.
What it reported doing in 2024
To offer career-preparation, career-readiness, and career-advancement support to individuals with an interest in the in the patent law profession in the united states. The foundation's programs work toward accelerating the development of a dedicated ip professional community through networking, counseling, and mentoring efforts aimed at fostering career advancement of individuals with an interest in the patent law profession in the united states. The sidney b. Williams, jr. Scholar program: this merit-based program supports students from stem backgrounds who aspire to pursue careers in intellectual property law. Designed to expand access and success within the patent law profession, the program is open to individuals applying to aba- accredited law schools. For nearly two decades, the sidney b. Williams, jr. Scholar program has been a vital source of financial support for students exploring careers in intellectual property law. Today, the program has expanded its reach providing a comprehensive suite of resources to help students secure a legal education and launch successful careers in patent law. In addition to financial assistance, scholars now benefit from: personalized counseling and career guidance access to internships and clerkship opportunities support in preparing for and gaining membership in the patent bar throughout the law school admissions process and during their legal education, scholars engage with experienced patent law professionals, mentors, and leaders in the field.
Operating model
- Revenue model
- Donor-supported. 93% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 66% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 94
- Accountability: 88
- Sustainability: 42
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 84.8%; rating input score 85
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -20%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 4.23; rating input score 76; 76th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 3% per year; rating input score 100; 45th percentile among comparable filings
- Revenue growth: 3.4% per year; rating input score 100; 43rd percentile among comparable filings
- Asset growth: 3.2% per year; rating input score 100; 39th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 84.8% of spending went to programs
- Governance: 42 of 42 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $312K in reported program spending
- Leadership: top reported pay $0 · 42 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes major donors and grants
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: 2 of 7 not reported.
- High — Sustainability: Operating margin scored 14/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 46/100.