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.
Key facts about Foundation at Nj Institute of Technology
- EIN
- 22-1714037
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $10,634,948
- Grants made (2024)
- 3
- Average grant
- $3,544,983
- Median grant
- $75,000
- Total assets
- $192,030,972
- Primary geography
- New Jersey (100% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated April 2026.
Who Foundation at Nj Institute of Technology funds
By grant dollars, the top recipient states for Foundation at Nj Institute of Technology's 3 itemized 2024 grants were New Jersey (100%). The most frequent recipient cities were Newark, NJ (3 grants). None of its 3 grants with a stated purpose were described as general or operating support.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$192.0M
+11.7% YoY
Annual Giving
$10.6M
+16.1% YoY
Grant Count
3
+50.0% YoY
Avg Grant Size
$3.5M
-22.6% YoY
About Foundation at Nj Institute of Technology
Based on IRS filings
Foundation at Nj Institute of Technology is a nonprofit organization focused on Education, based in NEWARK, NJ. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $192.0M in total assets. In 2024, it awarded 3 grants totaling $10.6M. Net investment income was $6.1M.
Focus Areas
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 3 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $192,030,972 | $171,872,000 | $157,150,311 |
| Revenue | $16,393,366 | $14,094,600 | $19,080,456 |
| Expenses | $11,521,409 | $9,939,238 | $9,265,289 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $6,109,373 | $1,794,579 | $10,015,721 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
Grant Size Distribution
9 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include Nj Institute of Technology ($10,552,226), New Jersey Innovation Institute Inc ($75,000), Pi Kappa Phi ($7,722).
| Recipient | Purpose | Amount |
|---|---|---|
| NJ INSTITUTE OF TECHNOLOGY NEWARK, NJ | SCHOLARSHIP, FELLOWSHIP AND OTHER GRANTS | $10,552,226 |
| NEW JERSEY INNOVATION INSTITUTE INC NEWARK, NJ | GRANT FOR COMMUNITY ENTREPRENEURS PROGRAM | $75,000 |
| PI KAPPA PHI NEWARK, NJ | CONSTRUCTION/FURNISHING OF CHAPTER HOUSE | $7,722 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| TEIK C LIM | DIRECTOR | 1 | — |
| ATAM DHAWAN | DIRECTOR | 1 | — |
| ANDREW P CHRIST | DIRECTOR | 1 | — |
| CATHERINE Z BRENNAN | SECRETARY | 3 | — |
| KENNETH ALEXO JR | PRESIDENT | 35 | — |
| ROBERT MEDINA | CHAIRMAIN | 1 | — |
| ARTHUR A KAPOOR | VICE CHAIRMAN | 1 | — |
| KENNETH M COLAO | VICE CHAIRMAN | 1 | — |
| STEVEN ANNUNZIATO | DIRECTOR | 1 | — |
| SIDDHARTHA BALA | DIRECTOR | 1 | — |
| ALFRED A DE SETA | DIRECTOR | 1 | — |
| ANGELO DEL RUSSO | DIRECTOR | 1 | — |
| ALBERT A DORMAN | DIRECTOR (THRU 11/23) | 1 | — |
| JONATHAN F ECHEVERRIA | DIRECTOR | 1 | — |
| KIM Y FELIX | DIRECTOR | 1 | — |
| DONALD FLOOD | DIRECTOR | 1 | — |
| CARLOS FONSECA | DIRECTOR | 1 | — |
| CHARLES FORMAN | DIRECTOR | 1 | — |
| CAREN L FREYER DESOUZA | DIRECTOR | 1 | — |
| JOHN J FUMOSA | DIRECTOR | 1 | — |
| DAVID T GOCKEL | DIRECTOR | 1 | — |
| DANIEL A HENDERSON | DIRECTOR | 1 | — |
| ROBERT J HILLIER | DIRECTOR | 1 | — |
| SONYA KAKKAR | DIRECTOR | 1 | — |
| RALPHA M MADDALENA | DIRECTOR | 1 | — |
| JOHN MCCANN | DIRECTOR | 1 | — |
| RAYMOND J MCGOWAN | DIRECTOR | 1 | — |
| PASCAL MONTILUS | DIRECTOR | 1 | — |
| PATRICK NATALE | DIRECTOR | 1 | — |
| KATHLEEN NATRIELLO | DIRECTOR | 1 | — |
| GEORGE M NEWCOMBE | DIRECTOR | 1 | — |
| BRETT NEWTON | DIRECTOR (THRU 1/24) | 1 | — |
| JOHN H OLSON | DIRECTOR (THRU 12/23) | 1 | — |
| MICHAEL D PAGES | DIRECTOR | 1 | — |
| MARJORIE A PERRY | DIRECTOR | 1 | — |
| PAUL V PROFETA | DIRECTOR | 1 | — |
| MARK ROMANSKI | DIRECTOR | 1 | — |
| STEVEN SAPERSTEIN | DIRECTOR | 1 | — |
| GREGORY SAUTER | DIRECTOR | 1 | — |
| JOHN W SEAZHOLTZ | DIRECTOR | 1 | — |
| STEPHANIE TONIC | DIRECTOR | 1 | — |
| MARTIN TUCHMAN | DIRECTOR | 1 | — |
| KIM V VIERHEILIG | DIRECTOR | 1 | — |
| JOHN A PELESKO | DIRECTOR (AS OF 7/23) | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What is Foundation at Nj Institute of Technology?
Foundation at Nj Institute of Technology is a nonprofit organization focused on Education, based in NEWARK, NJ. It holds $192.0M in total assets as of 2024.
How large is Foundation at Nj Institute of Technology?
As of 2024, Foundation at Nj Institute of Technology holds $192.0M in total assets with $16.4M in annual revenue. It awarded 3 grants totaling $10.6M in 2024.
Where does Foundation at Nj Institute of Technology operate?
Foundation at Nj Institute of Technology has awarded grants in New Jersey.
What size grants does Foundation at Nj Institute of Technology award?
In 2024, Foundation at Nj Institute of Technology awarded 3 grants totaling $10.6M — an average of about $3.5M per grant, based on its IRS Form 990 filings.
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 2021–2024.
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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Data last updated April 2026. Sourced from IRS Form 990-PF filings.