Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $425,867

• 1e · Government grants (contributions)

  $26,615,947

• 2a · Program service revenue: PROF. DEVELOPMENT

  total $1,305,549 · related or exempt $1,305,549

• 2b · Program service revenue: DIGITAL SCI. STUDIO

  total $777,317 · related or exempt $777,317

• 2c · Program service revenue: SHARED SERVICE REVENUE

  total $741,009 · unrelated business $741,009

• 2d · Program service revenue: EMS REGISTRY

  total $215,801 · related or exempt $215,801

• 2e · Program service revenue: OTHER ACTIVITIES

  total $187,558 · related or exempt $187,558

• 3 · Investment income

  total $2,231,873 · excluded $2,231,873

• 6a · Gross rents

  real property $1,839,346

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,839,346

• 6d · Net rental income or loss

  total $1,839,346 · excluded $1,839,346

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $10,365,500 · program services $10,365,500

• 5 · Compensation of officers, directors and key employees

  total $284,365 · management and general $284,365

• 7 · Other salaries and wages

  total $8,722,898 · program services $7,488,173 · management and general $1,234,725

• 8 · Pension plan contributions

  total $659,795 · program services $556,123 · management and general $103,672

• 9 · Other employee benefits

  total $909,535 · program services $766,622 · management and general $142,913

• 10 · Payroll taxes

  total $658,161 · program services $554,746 · management and general $103,415

• 11b · Fees: legal

  total $127,006 · program services $90,607 · management and general $36,399

• 11c · Fees: accounting

  total $83,610 · management and general $83,610

• 11f · Fees: investment management

  total $8,117 · management and general $8,117

• 11g · Fees: other

  total $7,469,566 · program services $7,055,739 · management and general $413,827

• 12 · Advertising and promotion

  total $2,580 · program services $576 · management and general $2,004

• 14 · Information technology

  total $37,550 · program services $37,550

• 16 · Occupancy

  total $1,851,897 · program services $1,846,079 · management and general $5,818

• 17 · Travel

  total $113,163 · program services $88,637 · management and general $24,526

• 20 · Interest

  total $148,447 · program services $139,069 · management and general $9,378

• 22 · Depreciation, depletion and amortization

  total $683,419 · program services $360,233 · management and general $323,186

• 23 · Insurance

  total $167,495 · program services $354 · management and general $167,141

• 24a · Other expenses: SHARED SERVICES

  total $1,500,124 · program services $1,500,124

• 24b · Other expenses: SUBSCRIPTIONS

  total $423,263 · program services $402,249 · management and general $21,014

• 24c · Other expenses: EQUIPMENT AND SUPPLIES

  total $254,251 · program services $232,056 · management and general $22,195

• 24d · Other expenses: REPAIRS & MAINTENANCE

  total $24,487 · program services $24,487

• 24e · All other expenses

  total $282,863 · program services $192,406 · management and general $90,457

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,905,796 · end of year $1,076,510

• 2 · Savings and temporary cash investments

  beginning of year $65,000,000 · end of year $66,030,565

• 3 · Pledges and grants receivable

  beginning of year $758,475 · end of year $91,441

• 4 · Accounts receivable

  beginning of year $375,046 · end of year $174,038

• 9 · Prepaid expenses and deferred charges

  beginning of year $115,216 · end of year $235,388

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

  $1,426,988

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

  $532,115

• 10c · Land, buildings and equipment, net

  beginning of year $801,513 · end of year $894,873

• 15 · Other assets

  beginning of year $964,875 · end of year $5,322,266

• 17 · Accounts payable and accrued expenses

  beginning of year $4,400,824 · end of year $4,178,916

• 19 · Deferred revenue

  beginning of year $9,274,837 · end of year $386,733

• 22 · Loans and payables to officers and key people

  end of year $10,900,000

• 25 · Other liabilities

  beginning of year $836,930 · end of year $1,388,927

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $801,514 · end of year $894,874

• 31 · Retained earnings, endowment or other funds

  beginning of year $56,606,816 · end of year $56,075,631

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF NJII'S PRESIDENT AND CEO IS ESTABLISHED BY THE NEW JERSEY INSTITUTE OF TECHNOLOGY, THE EMPLOYER OF RECORD. HIS COMPENSATION IS ESTABLISHED WITHIN COMPETITIVE RANGES AND IS DETERMINED BASED ON COMPARING THE SALARIES OF SIMILARLY SITUATED EXECUTIVES AT PEER INSTITUTIONS WITHIN THE SAME GEOGRAPHICAL REGION.

PART I, LINE 4A

PRESEIDENT AND CEO, SIMON NYNENS, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $225,334 IN CALENDAR YEAR 2022; THIS PAYMENT IS REFLECTED IN SCHEDULE J, PART II, COLUMN B(III).

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• HEALTHCARE INNOVATION SOLUTIONS HOLDCO INC

  C · HEALTHCARE SOFTWARE SOLUTIONS · NJ · 100% owned · share of income $1,635,360 · share of assets $1,922,615 · controlled entity

  Directly controlled by NJII