← NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION

Form 990 for tax year 2023

Filed by NEW JERSEY INSTITUTE OF TECHNOLOGY FOUNDATION.

Totals

Total revenue: $16,393,366
Total expenses: $11,521,409
Contributions and grants received: $10,424,182
Grants paid: $10,634,948
Program services expenses (Part IX): $10,634,948
Management and general expenses: $766,007
Fundraising expenses: $120,454
Program service expenses (Part III): $10,634,948

Program services were 92.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

TEIK C LIM

DIRECTOR

Total calculated

$913,214

From this org

$0

From related orgs

$849,456

Other

$63,758

Hours/week

1 + 34 related

Schedule J breakdown matched by us

Base

$0 + $608,514 related

Bonus

$0 + $122,000 related

Other

$0 + $118,942 related

Deferred

$0 + $14,000 related

Nontaxable benefits

$0 + $49,758 related

Filer's total

$0 + $913,214 related
ATAM DHAWAN

DIRECTOR

Total calculated

$526,238

From this org

$0

From related orgs

$465,284

Other

$60,954

Hours/week

1 + 34 related

Schedule J breakdown matched by us

Base

$0 + $443,630 related

Bonus

$0

Other

$0 + $21,654 related

Deferred

$0 + $14,000 related

Nontaxable benefits

$0 + $46,954 related

Filer's total

$0 + $526,238 related
ANDREW P CHRIST

DIRECTOR

Total calculated

$401,960

From this org

$0

From related orgs

$354,250

Other

$47,710

Hours/week

1 + 34 related

Schedule J breakdown matched by us

Base

$0 + $343,661 related

Bonus

$0

Other

$0 + $10,589 related

Deferred

$0 + $14,000 related

Nontaxable benefits

$0 + $33,710 related

Filer's total

$0 + $401,960 related
CATHERINE Z BRENNAN

SECRETARY

Total calculated

$423,097

From this org

$0

From related orgs

$335,283

Other

$87,814

Hours/week

3 + 32 related

Schedule J breakdown matched by us

Base

$0 + $315,981 related

Bonus

$0 + $16,144 related

Other

$0 + $3,158 related

Deferred

$0 + $39,323 related

Nontaxable benefits

$0 + $48,491 related

Filer's total

$0 + $423,097 related
KENNETH ALEXO JR

PRESIDENT

Total calculated

$360,960

From this org

$0

From related orgs

$298,131

Other

$62,829

Hours/week

35

Schedule J breakdown matched by us

Base

$0 + $288,211 related

Bonus

$0

Other

$0 + $9,920 related

Deferred

$0 + $14,000 related

Nontaxable benefits

$0 + $48,829 related

Filer's total

$0 + $360,960 related
ROBERT MEDINA

CHAIRMAIN

Total calculated

$0

Hours/week

1
ARTHUR A KAPOOR

VICE CHAIRMAN

Total calculated

$0

Hours/week

1
KENNETH M COLAO

VICE CHAIRMAN

Total calculated

$0

Hours/week

1
STEVEN ANNUNZIATO

DIRECTOR

Total calculated

$0

Hours/week

1
SIDDHARTHA BALA

DIRECTOR

Total calculated

$0

Hours/week

1
ALFRED A DE SETA

DIRECTOR

Total calculated

$0

Hours/week

1
ANGELO DEL RUSSO

DIRECTOR

Total calculated

$0

Hours/week

1
ALBERT A DORMAN

DIRECTOR (THRU 11/23)

Total calculated

$0

Hours/week

1
JONATHAN F ECHEVERRIA

DIRECTOR

Total calculated

$0

Hours/week

1
KIM Y FELIX

DIRECTOR

Total calculated

$0

Hours/week

1
DONALD FLOOD

DIRECTOR

Total calculated

$0

Hours/week

1
CARLOS FONSECA

DIRECTOR

Total calculated

$0

Hours/week

1
CHARLES FORMAN

DIRECTOR

Total calculated

$0

Hours/week

1
CAREN L FREYER DESOUZA

DIRECTOR

Total calculated

$0

Hours/week

1
JOHN J FUMOSA

DIRECTOR

Total calculated

$0

Hours/week

1
DAVID T GOCKEL

DIRECTOR

Total calculated

$0

Hours/week

1
DANIEL A HENDERSON

DIRECTOR

Total calculated

$0

Hours/week

1
ROBERT J HILLIER

DIRECTOR

Total calculated

$0

Hours/week

1
SONYA KAKKAR

DIRECTOR

Total calculated

$0

Hours/week

1
RALPHA M MADDALENA

DIRECTOR

Total calculated

$0

Hours/week

1
JOHN MCCANN

DIRECTOR

Total calculated

$0

Hours/week

1
RAYMOND J MCGOWAN

DIRECTOR

Total calculated

$0

Hours/week

1
PASCAL MONTILUS

DIRECTOR

Total calculated

$0

Hours/week

1
PATRICK NATALE

DIRECTOR

Total calculated

$0

Hours/week

1
KATHLEEN NATRIELLO

DIRECTOR

Total calculated

$0

Hours/week

1
GEORGE M NEWCOMBE

DIRECTOR

Total calculated

$0

Hours/week

1
BRETT NEWTON

DIRECTOR (THRU 1/24)

Total calculated

$0

Hours/week

1
JOHN H OLSON

DIRECTOR (THRU 12/23)

Total calculated

$0

Hours/week

1
MICHAEL D PAGES

DIRECTOR

Total calculated

$0

Hours/week

1
MARJORIE A PERRY

DIRECTOR

Total calculated

$0

Hours/week

1
PAUL V PROFETA

DIRECTOR

Total calculated

$0

Hours/week

1
MARK ROMANSKI

DIRECTOR

Total calculated

$0

Hours/week

1
STEVEN SAPERSTEIN

DIRECTOR

Total calculated

$0

Hours/week

1
GREGORY SAUTER

DIRECTOR

Total calculated

$0

Hours/week

1
JOHN W SEAZHOLTZ

DIRECTOR

Total calculated

$0

Hours/week

1
STEPHANIE TONIC

DIRECTOR

Total calculated

$0

Hours/week

1
MARTIN TUCHMAN

DIRECTOR

Total calculated

$0

Hours/week

1
KIM V VIERHEILIG

DIRECTOR

Total calculated

$0

Hours/week

1
JOHN A PELESKO

DIRECTOR (AS OF 7/23)

Total calculated

$226,336

From this org

$0

From related orgs

$204,045

Other

$22,291

Hours/week

1 + 34 related

Schedule J breakdown matched by us

Base

$0 + $169,288 related

Bonus

$0

Other

$0 + $34,757 related

Deferred

$0 + $14,000 related

Nontaxable benefits

$0 + $8,291 related

Filer's total

$0 + $226,336 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3: THE COMPENSATION OF THE FOUNDATION'S PRESIDENT 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's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

NJ INSTITUTE OF TECHNOLOGY

$10,552,226

SCHOLARSHIP, FELLOWSHIP AND OTHER GRANTS
NEW JERSEY INNOVATION INSTITUTE INC

$75,000

GRANT FOR COMMUNITY ENTREPRENEURS PROGRAM
PI KAPPA PHI

$7,722

CONSTRUCTION/FURNISHING OF CHAPTER HOUSE

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

NEW JERSEY INSTITUTE OF TECHNOLOGY

115(A)(2) · PUBLIC RESEARCH UNIVERSITY · NJ
NEW JERSEY INNOVATION INSTITUTE INC

501(C)(3) · RESEARCH AND ECONOMIC DEVELOPMENT · NJ

Directly controlled by NEW JERSEY INSTITUTE OF TECHNOLOGY

Provenance

Return type: form_990
Tax year: 2023
Filed: 8 May 2025
IRS schema version: 2023v6.0
Source object: 202531289349300343

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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