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Nonprofit · EIN 22-1714037

NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION

Tax-exempt · NEWARK, NJ 07102

Financials

$14.1M$9.9M2022$16.4M$11.5M2023$37.7M$11.7M2024
Revenue Expenses · by fiscal year end
Financials of NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$37,666,775$11,715,442$25,951,333$217,605,738$4,157,807$213,447,931
June 30, 2024990$16,393,366$11,521,409$4,871,957$192,030,972$3,805,702$188,225,270
June 30, 2023990$14,094,600$9,939,238$4,155,362$171,872,000$3,457,673$168,414,327
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$16,812,460
Program service revenue
$0
Investment income
$20,975,961
Royalties
$17,572
Net gain from sales of assets
$17,098,896
Net income from fundraising events
-$139,218
Other revenue
-$121,646

Expenses

Grants and similar amounts paid
$10,732,731
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$360,527
Accounting fees
$55,611
Travel
$56,062
Program services (functional)
$10,732,731
Management and general (functional)
$564,267
Fundraising (functional)
$418,444

Balance sheet and other

Total assets, start of year
$192,030,972
Total assets, end of year
$217,605,738
Total liabilities, end of year
$4,157,807
Net assets, end of year
$213,447,931
Publicly traded securities
$106,219,616
Gross unrelated business income
$105,274
Gross receipts
$154,585,512
Employees
0
Volunteers
31
Year formed
1959
State of legal domicile
NJ

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationFrom related orgsOther / benefits
TEIK C LIMDIRECTOR
Trustee or director
1$0$844,373$68,276
JOHN A PELESKODIRECTOR
Trustee or director
1$0$467,502$61,414
ATAM DHAWANDIRECTOR
Trustee or director
1$0$440,785$63,989
CATHERINE Z BRENNANSECRETARY (THRU 05/2025)
Trustee or director, Officer
3$0$352,094$92,316
ANDREW P CHRISTDIRECTOR
Trustee or director
1$0$383,790$30,532
KENNETH ALEXO JRPRESIDENT (THRU 09/2024)
Trustee or director, Officer
35$0$295,946$54,108
ELIZABETH KORNSTEININTERIM PRESIDENT (09/24-04/25)
Trustee or director, Officer
1$0$204,595$65,823
MICHAEL WALLINTERIM PRESIDENT (AS OF 04/2025)
Trustee or director, Officer
1$0$198,960$16,497
STEVEN SAPERSTEINCHAIRMAN (AS OF 12/2024)
Trustee or director, Officer
1$0$0$0
ROBERT MEDINACHAIRMAN (THRU 12/2024)/DIRECTOR
Trustee or director, Officer
1$0$0$0
ARTHUR A KAPOORVICE CHAIRMAN
Trustee or director, Officer
1$0$0$0
KENNETH M COLAOVICE CHAIRMAN
Trustee or director, Officer
1$0$0$0
STEPHEN KENNEYSECRETARY (AS OF 06/2025)
Trustee or director, Officer
1$0$0$0
STEVEN ANNUNZIATODIRECTOR (THRU 05/2025)
Trustee or director
1$0$0$0
SIDDHARTHA BALADIRECTOR (THRU 01/2025)
Trustee or director
1$0$0$0
31 more people on this return
NameTitleHours / weekCompensation
ALFRED A DE SETADIRECTOR
Trustee or director
1$0
ANGELO DEL RUSSODIRECTOR
Trustee or director
1$0
JONATHAN F ECHEVERRIADIRECTOR
Trustee or director
1$0
KIM Y FELIXDIRECTOR (THRU 07/2025)
Trustee or director
1$0
DONALD FLOODDIRECTOR
Trustee or director
1$0
CARLOS FONSECADIRECTOR
Trustee or director
1$0
CHARLES FORMANDIRECTOR
Trustee or director
1$0
CAREN L FREYER DESOUZADIRECTOR
Trustee or director
1$0
JOHN J FUMOSADIRECTOR (THRU 06/30/2025)
Trustee or director
1$0
DAVID T GOCKELDIRECTOR
Trustee or director
1$0
CHRISTINE GUZMANDIRECTOR (AS OF 02/2025)
Trustee or director
1$0
NANCY HALLDIRECTOR (AS OF 10/2024)
Trustee or director
1$0
DANIEL A HENDERSONDIRECTOR
Trustee or director
1$0
ROBERT J HILLIERDIRECTOR
Trustee or director
1$0
SONYA KAKKADIRECTOR (THRU 02/2025)
Trustee or director
1$0
RALPH M MADDALENADIRECTOR (THRU 04/2025)
Trustee or director
1$0
JOHN MCCANNDIRECTOR
Trustee or director
1$0
RAYMOND J MCGOWANDIRECTOR
Trustee or director
1$0
PASCAL MONTILUSDIRECTOR (THRU 06/30/2025)
Trustee or director
1$0
PATRICK NATALEDIRECTOR
Trustee or director
1$0
KATHLEEN NATRIELLODIRECTOR
Trustee or director
1$0
GEORGE M NEWCOMBEDIRECTOR
Trustee or director
1$0
MICHAEL D PAGESDIRECTOR
Trustee or director
1$0
MARJORIE A PERRYDIRECTOR
Trustee or director
1$0
PAUL V PROFETADIRECTOR (THRU 10/2024)
Trustee or director
1$0
MARK ROMANSKIDIRECTOR
Trustee or director
1$0
GREGORY SAUTERDIRECTOR
Trustee or director
1$0
JOHN W SEAZHOLTZDIRECTOR
Trustee or director
1$0
STEPHANIE TONICDIRECTOR
Trustee or director
1$0
MARTIN TUCHMANDIRECTOR
Trustee or director
1$0
KIM V VIERHEILIGDIRECTOR (THRU 11/2024)
Trustee or director
1$0
990 for the year ended June 30, 2024: 44 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
TEIK C LIMDIRECTOR
Trustee or director
1$0$849,456$63,758
ATAM DHAWANDIRECTOR
Trustee or director
1$0$465,284$60,954
CATHERINE Z BRENNANSECRETARY
Trustee or director, Officer
3$0$335,283$87,814
ANDREW P CHRISTDIRECTOR
Trustee or director
1$0$354,250$47,710
KENNETH ALEXO JRPRESIDENT
Trustee or director, Officer
35$0$298,131$62,829
JOHN A PELESKODIRECTOR (AS OF 7/23)
Trustee or director
1$0$204,045$22,291
ROBERT MEDINACHAIRMAIN
Trustee or director, Officer
1$0$0$0
ARTHUR A KAPOORVICE CHAIRMAN
Trustee or director, Officer
1$0$0$0
KENNETH M COLAOVICE CHAIRMAN
Trustee or director, Officer
1$0$0$0
STEVEN ANNUNZIATODIRECTOR
Trustee or director
1$0$0$0
SIDDHARTHA BALADIRECTOR
Trustee or director
1$0$0$0
ALFRED A DE SETADIRECTOR
Trustee or director
1$0$0$0
ANGELO DEL RUSSODIRECTOR
Trustee or director
1$0$0$0
ALBERT A DORMANDIRECTOR (THRU 11/23)
Trustee or director
1$0$0$0
JONATHAN F ECHEVERRIADIRECTOR
Trustee or director
1$0$0$0
KIM Y FELIXDIRECTOR
Trustee or director
1$0$0$0
DONALD FLOODDIRECTOR
Trustee or director
1$0$0$0
CARLOS FONSECADIRECTOR
Trustee or director
1$0$0$0
CHARLES FORMANDIRECTOR
Trustee or director
1$0$0$0
CAREN L FREYER DESOUZADIRECTOR
Trustee or director
1$0$0$0
JOHN J FUMOSADIRECTOR
Trustee or director
1$0$0$0
DAVID T GOCKELDIRECTOR
Trustee or director
1$0$0$0
DANIEL A HENDERSONDIRECTOR
Trustee or director
1$0$0$0
ROBERT J HILLIERDIRECTOR
Trustee or director
1$0$0$0
SONYA KAKKARDIRECTOR
Trustee or director
1$0$0$0
RALPHA M MADDALENADIRECTOR
Trustee or director
1$0$0$0
JOHN MCCANNDIRECTOR
Trustee or director
1$0$0$0
RAYMOND J MCGOWANDIRECTOR
Trustee or director
1$0$0$0
PASCAL MONTILUSDIRECTOR
Trustee or director
1$0$0$0
PATRICK NATALEDIRECTOR
Trustee or director
1$0$0$0
KATHLEEN NATRIELLODIRECTOR
Trustee or director
1$0$0$0
GEORGE M NEWCOMBEDIRECTOR
Trustee or director
1$0$0$0
BRETT NEWTONDIRECTOR (THRU 1/24)
Trustee or director
1$0$0$0
JOHN H OLSONDIRECTOR (THRU 12/23)
Trustee or director
1$0$0$0
MICHAEL D PAGESDIRECTOR
Trustee or director
1$0$0$0
MARJORIE A PERRYDIRECTOR
Trustee or director
1$0$0$0
PAUL V PROFETADIRECTOR
Trustee or director
1$0$0$0
MARK ROMANSKIDIRECTOR
Trustee or director
1$0$0$0
STEVEN SAPERSTEINDIRECTOR
Trustee or director
1$0$0$0
GREGORY SAUTERDIRECTOR
Trustee or director
1$0$0$0
JOHN W SEAZHOLTZDIRECTOR
Trustee or director
1$0$0$0
STEPHANIE TONICDIRECTOR
Trustee or director
1$0$0$0
MARTIN TUCHMANDIRECTOR
Trustee or director
1$0$0$0
KIM V VIERHEILIGDIRECTOR
Trustee or director
1$0$0$0
990 for the year ended June 30, 2023: 46 people
NameTitleHours / weekCompensationFrom related orgsOther / benefits
TEIK C LIMOVERSEER (AS OF 7/22)
Trustee or director
1$0$449,624$33,740
ATAM DHAWANOVERSEER (AS OF 7/22)
Trustee or director
1$0$417,094$52,428
ANDREW P CHRISTOVERSEER
Trustee or director
1$0$339,230$64,602
CATHERINE Z BRENNANSECRETARY
Trustee or director, Officer
3$0$317,775$79,267
KENNETH ALEXO JRPRESIDENT
Trustee or director, Officer
35$0$287,886$56,318
MARJORIE A PERRYCHAIRMAN (THRU 1/23)/OVERSEER
Trustee or director, Officer
1$0$0$0
ROBERT MEDINAOVERSEER/CHAIRMAIN (AS OF 1/23)
Trustee or director, Officer
1$0$0$0
ARTHUR A KAPOORVICE CHAIRMAN
Trustee or director, Officer
1$0$0$0
KENNETH M COLAOOVERSEER/VICE CHAIRMAIN (AS OF 1/23)
Trustee or director, Officer
1$0$0$0
STEVEN ANNUNZIATOOVERSEER
Trustee or director
1$0$0$0
SIDDHARTHA BALAOVERSEER
Trustee or director
1$0$0$0
ALFRED A DE SETAOVERSEER
Trustee or director
1$0$0$0
ANGELO DEL RUSSOOVERSEER
Trustee or director
1$0$0$0
ALBERT A DORMANOVERSEER
Trustee or director
1$0$0$0
JONATHAN F ECHEVERRIAOVERSEER (AS OF 12/22)
Trustee or director
1$0$0$0
KIM Y FELIXOVERSEER
Trustee or director
1$0$0$0
DONALD FLOODOVERSEER
Trustee or director
1$0$0$0
CARLOS FONSECAOVERSEER
Trustee or director
1$0$0$0
CHARLES FORMANOVERSEER
Trustee or director
1$0$0$0
CAREN L FREYER DESOUZAOVERSEER
Trustee or director
1$0$0$0
JOHN J FUMOSAOVERSEER
Trustee or director
1$0$0$0
DAVID T GOCKELOVERSEER
Trustee or director
1$0$0$0
DANIEL A HENDERSONOVERSEER
Trustee or director
1$0$0$0
ROBERT J HILLIEROVERSEER
Trustee or director
1$0$0$0
SONYA KAKKAROVERSEER
Trustee or director
1$0$0$0
RALPHA M MADDALENAOVERSEER
Trustee or director
1$0$0$0
JOHN MCCANNOVERSEER
Trustee or director
1$0$0$0
RAYMOND J MCGOWANOVERSEER
Trustee or director
1$0$0$0
PASCAL MONTILUSOVERSEER
Trustee or director
1$0$0$0
PATRICK NATALEOVERSEER
Trustee or director
1$0$0$0
KATHLEEN NATRIELLOOVERSEER
Trustee or director
1$0$0$0
GEORGE M NEWCOMBEOVERSEER
Trustee or director
1$0$0$0
BRETT NEWTONOVERSEER
Trustee or director
1$0$0$0
JOHN H OLSONOVERSEER
Trustee or director
1$0$0$0
MICHAEL D PAGESOVERSEER (AS OF 10/22)
Trustee or director
1$0$0$0
PAUL V PROFETAOVERSEER
Trustee or director
1$0$0$0
PHILIP L RINALDIOVERSEER (THRU 10/22)
Trustee or director
1$0$0$0
MARK ROMANSKIOVERSEER
Trustee or director
1$0$0$0
STEVEN SAPERSTEINOVERSEER (AS OF 1/23)
Trustee or director
1$0$0$0
GREGORY SAUTEROVERSEER
Trustee or director
1$0$0$0
JOHN W SEAZHOLTZOVERSEER
Trustee or director
1$0$0$0
W MARCUS SHERIDANOVERSEER
Trustee or director
1$0$0$0
STEPHANIE TONICOVERSEER
Trustee or director
1$0$0$0
MARTIN TUCHMANOVERSEER
Trustee or director
1$0$0$0
KIM V VIERHEILIGOVERSEER
Trustee or director
1$0$0$0
ROBERT E WARDOVERSEER (AS OF 10/22; THRU 4/23)
Trustee or director
1$0$0$0

Address and contacts

Address (IRS master file)
UNIVERSITY HEIGHTS, NEWARK, NJ 07102-0000
In care of
% NEW JERSEY INST OF TECHNOLOGY
Principal officer (990 for 2024)
ALAN J KELLY, UNIVERSITY HEIGHTS, NEWARK, NJ 071021982
Signed the 990
STEPHEN KENNEY, SECRETARY
Phone
(973) 596-3427
Return prepared by
GRANT THORNTON ADVISORS LLC

Mission

ESTABLISHED IN 1959, THE FOUNDATION IS A 501(C)(3) TAX-EXEMPT ORGANIZATION THAT RAISES, INVESTS, AND DISTRIBUTES PHILANTHROPIC GIFTS ON BEHALF OF NEW JERSEY INSTITUTE OF TECHNOLOGY (NJIT), THE STATE'S PUBLIC POLYTECHNIC UNIVERSITY. IN CONNECTING ALUMNI AND FRIENDS WITH NJIT'S INNOVATIVE PROGRAMS, RESEARCH-ACTIVE FACULTY, AND TALENTED AND HARDWORKING STUDENTS, THE FOUNDATION ADVANCES NJIT'S PURSUIT OF ITS MISSION OF EDUCATION, RESEARCH, SERVICE, AND ECONOMIC DEVELOPMENT.

990 for the year ended June 30, 2025

Program accomplishments

  • SCHOLARSHIP AND FELLOWSHIP GRANTS WERE AWARDED TO NEW JERSEY INSTITUTE OF TECHNOLOGY IN THE AMOUNT OF $5,585,304. FOUNDATION AT NEW JERSEY INSTITUTE OF TECHNOLOGY RECEIVES ENDOWED GIFTS AND ANNUAL GIFTS RESTRICTED FOR FINANCIAL AID. THE ANNUAL ENDOWMENT SPENDING FOR SCHOLARSHIPS AND FELLOWSHIPS AND THE ANNUAL SCHOLARSHIP AND FELLOWSHIP GIFTS ARE GRANTED TO NEW JERSEY INSTITUTE OF TECHNOLOGY AND AWARDED TO STUDENTS THAT HAVE MET THE QUALIFICATIONS AND RESTRICTIONS PLACED BY THE DONORS. UNDERGRADUATE AND GRADUATE AWARDS, FROM DONOR FUNDED SCHOLARSHIPS AND FELLOWSHIPS WERE GIVEN TO APPROXIMATELY 1,486 STUDENTS.
    Expenses $5,585,304 · grants $5,585,304
  • RESEARCH AND PROGRAM GRANTS TOTALING $727,263 WERE AWARDED TO NEW JERSEY INSTITUTE OF TECHNOLOGY TO SUPPORT VARIOUS RESEARCH PROJECTS, IN ACCORDANCE WITH DONOR AND OTHER RESTRICTIONS.
    Expenses $727,263 · grants $727,263
  • INSTRUCTIONAL GRANTS TOTALING $2,056,715 WERE AWARDED TO NEW JERSEY INSTITUTE OF TECHNOLOGY IN SUPPORT OF ITS EDUCATIONAL PROGRAMS IN ACCORDANCE WITH DONOR AND OTHER RESTRICTIONS.
    Expenses $2,056,715 · grants $2,056,715
  • STUDENT SERVICE GRANTS TOTALING $405,059 WERE AWARDED TO NEW JERSEY INSTITUTE OF TECHNOLOGY IN SUPPORT OF ITS ATHLETIC, THEATER, AND OTHER PROGRAMS IN ACCORDANCE WITH DONOR AND OTHER RESTRICTIONS.PUBLIC SERVICE GRANTS TOTALING $195,962 WERE AWARDED TO NEW JERSEY INSTITUTE OF TECHNOLOGY TO SUPPORT PRE-COLLEGE AND OUTREACH PROGRAMS IN ACCORDANCE WITH DONOR AND OTHER RESTRICTIONS.ACADEMIC SUPPORT GRANTS TOTALING $1,193,811 WERE AWARDED TO NEW JERSEY INSTITUTE OF TECHNOLOGY TO SUPPORT DEANS AND OTHER ACADEMIC SUPPORT ACTIVITIES IN ACCORDANCE WITH DONOR AND OTHER RESTRICTIONS.INSTITUTIONAL SUPPORT GRANTS TOTALING $563,138 WERE AWARDED TO RELATED ORGANIZATIONS, NEW JERSEY INSTITUTE OF TECHNOLOGY AND NEW JERSEY INNOVATION INSTITUTE, IN SUPPORT OF PUBLIC RELATIONS AND OTHER ACTIVITIES IN ACCORDANCE WITH DONOR AND OTHER RESTRICTIONS.GRANTS TOTALING $5,479 WERE AWARDED TO THE BETA ALPHA CHAPTER OF PI KAPPA PHI, INC., A STUDENT FRATERNITY ORGANIZATION, TO ASSIST WITH THE PAYMENT OF ITS MORTGAGE ASSOCIATED WITH THE CONSTRUCTION AND FURNISHING OF EDUCATIONAL AREAS OF THEIR CHAPTER HOUSE.
    Expenses $2,363,449 · grants $2,363,449

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
22-1714037
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1961
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B110)
Assets (IRS master file)
$217,605,738
Income (IRS master file)
$154,585,512

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$37,666,775$11,715,442$217,605,738IRS
990-TJune 2025–––IRS
990June 2024$16,393,366$11,521,409$192,030,972IRS
990-TJune 2024–––IRS
990June 2023$14,094,600$9,939,238$171,872,000XML
990-TJune 2023–––IRS
990June 2022$19,080,456$9,265,289$157,150,311IRS
990-TJune 2022–––IRS
990June 2021–––IRS
990-TJune 2021–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 22-1714037).

Questions about NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION

What is the EIN of NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION?
The employer identification number (EIN) of NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION is 22-1714037.
Is NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1961.
Are donations to NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION?
The 990 for the year ended June 30, 2025 names ALAN J KELLY.
Who are the officers and directors of NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION?
The 990 for the year ended June 30, 2025 lists 46 people; 0 received compensation from the organization.
How much revenue does NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $37,666,775, expenses of $11,715,442 and total assets of $217,605,738 at year end.

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