New York Institute of Technology

Analysis

New York Institute of Technology is a registered charity in United States, based in Old Westbury, NY. It received its IRS tax-exemption ruling in April 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New York Institute of Technology reported income of $352.2m and spending of $342.4m, spending 97% of its income. Across the 5 years on record, from August 2019 to June 2023, income grew from $334.1m to $352.2m (+5.4%), an average of +1.3% a year. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New York Institute of Technology sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within NY. Charities of a similar size with the same main cause include The Ojc Fund ($350.7m), Ohio State University Foundation ($353.8m) and Colgate University Treasurers Office ($350.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 3.3% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $2.9m (0.8% of expenses). Other salaries and wages came to $116.9m. It paid $334k in professional fundraising fees. At year end it held assets of $440.8m against liabilities of $206.0m, net assets of $234.8m. It reported 2,490 employees.