New Jersey Institute of Technology Foundation

Analysis

New Jersey Institute of Technology Foundation is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in December 1961, 65 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New Jersey Institute of Technology Foundation reported income of $14.1m and spending of $9.9m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $20.6m to $14.1m (-32%), an average of -9.1% a year. The sharpest change came in the year to June 2020, when income rose by 44%. Over the whole period it spent 47% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, New Jersey Institute of Technology Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include HSDL LLC ($14.1m), New Millennium Academy ($14.1m) and Hill Center Inc ($14.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $171.9m against liabilities of $3.5m, net assets of $168.4m.