Foundation at NJ Institute of Technology
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.
Foundation at NJ Institute of Technology at a glance
In short: Foundation at NJ Institute of Technology gave $10.7M across 3 grants in 2025 (avg $3.6M), mostly in New Jersey. Source: 2025 IRS Form 990.
- Annual giving (2025)
- $10,732,731
- +0.9% vs 2024
- Grants made (2025)
- 3
- +0.0% vs 2024
- Average grant
- $3,577,577
- +0.9% vs 2024
- Median grant
- $75,000
- Total assets
- $217,605,738
- +13.3% vs 2024
- Primary geography
- New Jersey (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990, 2025 View filing
Data from IRS Form 990, 2025; updated September 2026.
Who Foundation at NJ Institute of Technology funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2025
The largest 2025 recipient was NJ Institute of Technology ($10.7M). Together the top 3 received $10.7M.
Grant Size Distribution
12 grants across all recorded years
The most common grant size was under $50K: 5 grants of 12 (42%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 3 itemized grants.
States
Cities
How Foundation at NJ Institute of Technology gives
- Giving grew 27% from 2022 to 2025. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2021 to 2025, annual grant giving ranged from $8.5M (2022) to $10.7M (2025). In 2025 it made 3 grants totaling $10.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NJ Institute of Technology Newark, NJ | Scholarship, Fellowship and Other Grants | $10,652,252 |
| New Jersey Innovation Institute Inc Newark, NJ | Grant for Community Entrepreneurs Program | $75,000 |
| Pi Kappa Phi Newark, NJ | Construction/Furnishing of Chapter House | $5,479 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2025 | $217,605,738 | $37,666,775 | $11,715,442 | $10,732,731 | 3 | $20,975,961 |
| 2024 | $192,030,972 | $16,393,366 | $11,521,409 | $10,634,948 | 3 | $6,109,373 |
| 2023 | $171,872,000 | $14,094,600 | $9,939,238 | $9,159,988 | 2 | $1,794,579 |
| 2022 | $157,150,311 | $19,080,456 | $9,265,289 | $8,471,890 | 2 | $10,015,721 |
| 2021 | $177,817,526 | $21,630,945 | $9,335,412 | $8,933,713 | 2 | $9,403,670 |
About Foundation at NJ Institute of Technology
Based on IRS filings
Foundation at NJ Institute of Technology is a public charity focused on Education, based in Newark, NJ. IRS filing data is available from 2021 through 2025. As of 2025, the organization holds $217.6M in total assets. In 2025, it awarded 3 grants totaling $10.7M. Net investment income was $21.0M.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Foundation at NJ Institute of Technology is led by Kenneth Alexo Jr., President on every filing since 2021; none of the 46 officers listed in 2025 report compensation.
Officers on the 2025 filing
Kenneth Alexo Jr.
President
On filings since 2021
35 hrs/week
No compensation reported
Elizabeth Kornstein
Interim President
New on the 2025 filing
1 hr/week
No compensation reported
Michael Wall
Interim President
New on the 2025 filing
1 hr/week
No compensation reported
Robert Medina
Chairman & Director
Overseer & Chairmain → Chairmain, 2024
Chairmain → Chairman & Director, 2025
On filings since 2021
1 hr/week
No compensation reported
Steven Saperstein
Chairman
Overseer → Director, 2024
Director → Chairman, 2025
On filings since 2023
1 hr/week
No compensation reported
Alfred A. De Seta
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Andrew P. Christ
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Caren L. Freyer Desouza
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Daniel A. Henderson
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
David T. Gockel
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
George M. Newcombe
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Gregory Sauter
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
John J. Fumosa
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
John McCann
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
John W. Seazholtz
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Kathleen Natriello
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Kim Y. Felix
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Marjorie A. Perry
Director
Chairman → Chairman & Overseer, 2023
Chairman & Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Mark Romanski
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Martin Tuchman
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Pascal Montilus
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Patrick Natale
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Paul V. Profeta
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Ralph M. Maddalena
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Raymond J. McGowan
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Robert J. Hillier
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Sonya Kakka
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Stephanie Tonic
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Steven Annunziato
Director
Overseer → Director, 2024
On filings since 2021
1 hr/week
No compensation reported
Angelo Del Russo
Director
Overseer → Director, 2024
On filings since 2022
1 hr/week
No compensation reported
Carlos Fonseca
Director
Overseer → Director, 2024
On filings since 2022
1 hr/week
No compensation reported
Charles Forman
Director
Overseer → Director, 2024
On filings since 2022
1 hr/week
No compensation reported
Donald Flood
Director
Overseer → Director, 2024
On filings since 2022
1 hr/week
No compensation reported
Kim V. Vierheilig
Director
Overseer → Director, 2024
On filings since 2022
1 hr/week
No compensation reported
Siddhartha Bala
Director
Overseer → Director, 2024
On filings since 2022
1 hr/week
No compensation reported
Atam Dhawan
Director
Overseer → Director, 2024
On filings since 2023
1 hr/week
No compensation reported
Jonathan F. Echeverria
Director
Overseer → Director, 2024
On filings since 2023
1 hr/week
No compensation reported
Michael D. Pages
Director
Overseer → Director, 2024
On filings since 2023
1 hr/week
No compensation reported
Teik C. Lim
Director
Overseer → Director, 2024
On filings since 2023
1 hr/week
No compensation reported
John A. Pelesko
Director
On filings since 2024
1 hr/week
No compensation reported
Christine Guzman
Director
New on the 2025 filing
1 hr/week
No compensation reported
Nancy Hall
Director
New on the 2025 filing
1 hr/week
No compensation reported
Arthur A. Kapoor
Vice Chairman
On filings since 2021
1 hr/week
No compensation reported
Kenneth M. Colao
Vice Chairman
Overseer → Overseer & Vice Chairmain, 2023
Overseer & Vice Chairmain → Vice Chairman, 2024
On filings since 2021
1 hr/week
No compensation reported
Catherine Z. Brennan
Secretary
On filings since 2022
3 hrs/week
No compensation reported
Stephen Kenney
Secretary
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (16)
- Former: Albert A. Dorman (2021–2024) — Director
- Former: Brett Newton (2021–2024) — Director
- Former: John H. Olson (2021–2024) — Director
- Former: Philip L. Rinaldi (2021–2023) — Overseer
- Former: W. Marcus Sheridan (2021–2023) — Overseer
- Former: Robert E. Ward (2023) — Overseer
- Former: Edward J. Bishof (2021–2022) — Former Senior Vice President for Finance
- Former: Edward J. Schmeltz (2021–2022) — Overseer
- Former: Emil C. Herkert (2021–2022) — Overseer
- Former: Fadi P. Deek (2021–2022) — Overseer
- Former: Joel S. Bloom (2021–2022) — Overseer
- Former: Carlton R. West (2021) — Overseer
- Former: Donald H. Sebastian (2021) — Overseer
- Former: Kelly A. O'Connor (2021) — Overseer
- Former: Robert J. Levin (2021) — Overseer
- Former: Steven B. Kalafer (2021) — Overseer
Data from IRS Form 990 filings, 2021–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Foundation at NJ Institute of Technology
How much does Foundation at NJ Institute of Technology give each year?
Foundation at NJ Institute of Technology gave $10.7M across 3 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $10.6M across 3 grants.
What is Foundation at NJ Institute of Technology's typical grant size?
Foundation at NJ Institute of Technology's median grant in 2025 was $75,000, and its average grant was $3,577,577, across 3 grants on its 2025 IRS Form 990.
Where does Foundation at NJ Institute of Technology give grants?
Foundation at NJ Institute of Technology gives mostly in New Jersey: 100% of the grant dollars itemized on its 2025 IRS Form 990 went to recipients there. The most frequent recipient cities were Newark, NJ (3 grants).
Does Foundation at NJ Institute of Technology give general operating support?
Not in 2025: none of the 3 grants with a stated purpose on Foundation at NJ Institute of Technology's 2025 IRS Form 990 were described as general or operating support.
How large is Foundation at NJ Institute of Technology?
Foundation at NJ Institute of Technology reported $217.6M in total assets on its 2025 IRS Form 990. Its revenue that year was $37.7M.
What is Foundation at NJ Institute of Technology?
Foundation at NJ Institute of Technology is a public charity focused on Education, based in Newark, NJ. It holds $217.6M in total assets as of 2025.
What is Foundation at NJ Institute of Technology's EIN?
Foundation at NJ Institute of Technology's EIN (Employer Identification Number) is 22-1714037. IRS Form 990 filing data is available on this page for 2021–2025.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2021 (received by the IRS May 9, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 9, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS May 10, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 8, 2025)
- Added Form 990 for fiscal year 2025 (received by the IRS May 8, 2026)
- IRS filings on file for fiscal years 2021–2024
Live grants for the work Foundation at NJ Institute of Technology funds
Education Open opportunities, soonest deadline first.
Explore Open Grants
Browse active grant opportunities in Foundation at NJ Institute of Technology's focus areas in our free grants database
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