12 June 2010 (advance estimate a/o 31 December 2009)
FINANCIAL PROFILE for NEEDFUL PROVISION, INC.
(12 June 1995 to 12 June 2010 – 15 years)
II. Expenses: Under $25,000 per, for last 3-years, reported on Form(s) 990
III. Audited Accounting: 2003 Form 990 audit by IRS (last Federal audit)
IV. Assets: A. Patents & Trade Secrets (5 total) ------ $ 117,300
B. Stocks (50,000 shares of NextPath) --- 0
C. 45-acres (w/ office & facilities) ------ 270,000
D. Specialized Project Equipment ------- 82,000
E. Cash/ Patent Sales (Jan 2010)---------- $7,000,910
Total Assets: $7,470,210
V. Net Worth: $7,455,491
VI. Primary Income: A. Patent Sales --------------- $7,000,000 (for 2010)
B. Grants -------------------------- 0
(USDOE, USDA, NSF, MAC, and Foundations --- in prior years.)
VII. NPI Funds Use: NPI uses a majority of its funds for research, development, demonstration, and teaching of innovative self-help, self-sufficiency technologies that are designed to assist the poor in helping themselves. These efforts have focused on food security, biosecurity, microenterprise/ entrepreneurial development, alternative energy, carbon sequestration, barter trade, “zero net-energy” housing, microlending, & homeland security. NPI conducts research under cooperative agreements with labs, national labs, and universities. Training centers are operated in Oklahoma, Mexico, Kenya, and India. NPI is planning social enterprise projects in Kenya, and the U.S., as part of an effort to increase royalty income --- and thereby become mostly self-funded. As an early member of the Oklahoma Network for Entrepreneurship (ONE), NPI supports several efforts to support rural and tribal economic development, in Oklahoma. A model Citizens Corps project has been proposed for homeland security efforts in three states. Entrepreneurship projects are planned for two Native American tribes, as well as Montagnard and Hmong refugees. NPI’s expenses are limited to less than 10 percent of income, and both Officers and Directors are volunteers. (NPI is highly efficient in its use of funds.)
VIII. 2008 Accounting: See 2008 Form 990, by Medearis & Assoc.
(completed on 15 Aug 2009)
Certified by: David A. Nuttle, President, John Harrison, Sec.-Treas.
N.B. In late 2009, NPI elected to sell several proprietary (patented) technologies owned in order to fund an expansion of NPI’s charitable and educational activities.