Nonprofit · EIN 47-1042118
NEW JERSEY INNOVATION INSTITUTE INC
Tax-exempt · NEWARK, NJ 07103
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $21,213,735 | $36,629,425 | -$15,415,690 | $60,658,606 | $15,608,446 | $45,050,160 |
| June 30, 2024 | 990 | $30,773,365 | $27,724,858 | $3,048,507 | $75,143,617 | $15,124,605 | $60,019,012 |
| June 30, 2023 | 990 | $34,340,267 | $34,778,092 | -$437,825 | $73,825,081 | $16,854,576 | $56,970,505 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $15,926,617
- of which government grants
- $15,849,931
- Program service revenue
- $2,502,869
- Investment income
- $2,768,249
- Net rental income
- $16,000
- Other revenue
- $16,000
Expenses
- Grants and similar amounts paid
- $10,542,054
- Compensation of officers, directors and key employees
- $1,127,652
- Other salaries and wages
- $10,417,513
- Salaries, compensation and benefits (total)
- $14,400,115
- Professional fundraising fees
- $0
- Legal fees
- $157,470
- Accounting fees
- $90,705
- Occupancy
- $489,536
- Travel
- $213,342
- Depreciation
- $590,622
- Program services (functional)
- $30,434,032
- Management and general (functional)
- $6,195,393
Balance sheet and other
- Total assets, start of year
- $75,143,617
- Total assets, end of year
- $60,658,606
- Total liabilities, end of year
- $15,608,446
- Net assets, end of year
- $45,050,160
- Land, buildings and equipment
- $394,516
- Gross receipts
- $21,213,735
- Employees
- 122
- Volunteers
- 12
- Year formed
- 2014
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TEIK C LIM | PRESIDENT OF NJIT/DIRECTOR Trustee or director | 5 | $0 | $844,373 | $68,276 |
| JOHN PELESKO | PROVOST OF NJIT/DIRECTOR Trustee or director | 1 | $0 | $467,502 | $61,414 |
| ATAM DHAWAN | VICE PROVOST OF NJIT/DIRECTOR Trustee or director | 1 | $0 | $440,785 | $63,989 |
| DR MICHAEL JOHNSON | PRESIDENT & CEO Officer | 35 | $390,087 | $0 | $56,378 |
| JENNIFER D'ANGELO | CHIEF OPERATING OFFICER Officer | 35 | $382,170 | $0 | $55,869 |
| TOM NEHILA | CHIEF FINANCIAL OFFICER Officer | 35 | $262,724 | $0 | $38,729 |
| DARLENE CARR | VP HEALTHCARE DIVISION Highest-paid employee | 35 | $207,163 | $0 | $44,494 |
| MICHAEL VAN TER SLUIS | VP ENTREPRENEURSHIP Highest-paid employee | 35 | $205,657 | $0 | $23,871 |
| JOSEPH CAUVIN | VP OPERATIONS Highest-paid employee | 35 | $181,164 | $0 | $41,176 |
| STACEY CLARK | VP DEFENSE (THRU 04/25) Highest-paid employee | 35 | $186,252 | $0 | $14,801 |
| SAIRAJ KISTNAM SETTY | SENIOR DIRECTOR, IT & SECURITY Highest-paid employee | 35 | $180,849 | $0 | $16,816 |
| ROBERT MEDINA | CHAIRMAN (THRU 11/24) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DEAN PARANICAS | CHAIRMAN (AS OF 11/24) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DR KENNETH BLANK | DIRECTOR (THRU 06/25) Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| NICHOLAS DENICHILO | DIRECTOR (THRU 06/25) Trustee or director | 1 | $0 |
| THERESA EDELSTEIN | DIRECTOR (THRU 06/25) Trustee or director | 1 | $0 |
| DEBBIE HART | DIRECTOR Trustee or director | 1 | $0 |
| WESLEY MATTHEWS | DIRECTOR Trustee or director | 1 | $0 |
| PRABHAS MOGHE | DIRECTOR (THRU 06/25) Trustee or director | 1 | $0 |
| JENNIFER ROWLAND | DIRECTOR Trustee or director | 1 | $0 |
| AL DE SETA | DIRECTOR Trustee or director | 1 | $0 |
| DHIRAJ SHAH | DIRECTOR Trustee or director | 1 | $0 |
| MICHELE SIEKERKA | DIRECTOR Trustee or director | 1 | $0 |
| DAVID SPICKA | DIRECTOR (AS OF 06/25) Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 29 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| TEIK C LIM | INTERIM PRES (THRU 10/23)/DIRECTOR Trustee or director, Officer | 5 | $0 | $849,456 | $63,758 |
| DR JOEL BLOOM | FORMER CHAIRMAN Former | 0 | $0 | $573,538 | $49,136 |
| ATAM DHAWAN | VICE PROVOST OF NJIT/DIRECTOR Trustee or director | 1 | $0 | $465,284 | $60,954 |
| JENNIFER D'ANGELO | CHIEF OPERATING OFFICER (AS OF 4/24) Officer | 35 | $362,724 | $0 | $52,163 |
| HOLLY STERN | SECRETARY (NON VOTING) Trustee or director, Officer | 1 | $0 | $360,643 | $45,311 |
| MATTHEW MOLINE | CHIEF TECHNOLOGY OFFICER Highest-paid employee | 35 | $216,930 | $0 | $56,212 |
| JOHN PELESKO | PROVOST OF NJIT/DIR (AS OF 9/23) Trustee or director | 1 | $0 | $204,045 | $16,999 |
| KATHLEEN NAASZ | VP STRATEGIC PARTNERSHIPS Highest-paid employee | 35 | $200,451 | $0 | $16,380 |
| TOM NEHILA | CHIEF FINANCIAL OFFICER(AS OF 11/23) Officer | 35 | $214,649 | $0 | $585 |
| JOSEPH CAUVIN | VICE PRESIDENT OPERATIONS Highest-paid employee | 35 | $175,107 | $0 | $38,206 |
| DARLENE CARR | VP HEALTHCARE DIVISION Highest-paid employee | 35 | $176,920 | $0 | $35,229 |
| JOHN NORDSTROM | DIR, INTEGRATION HEALTHCARE TECH. Highest-paid employee | 35 | $175,053 | $0 | $23,048 |
| DR MICHAEL JOHNSON | PRESIDENT & CEO (AS OF 10/23) Officer | 35 | $72,700 | $0 | $7,179 |
| ROBERT MEDINA | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DR KENNETH BLANK | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NICHOLAS DENICHILO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THERESA EDELSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CRAIG GOTSMAN | DIRECTOR (THRU 8/23) Trustee or director | 1 | $0 | $0 | $0 |
| DEBBIE HART | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOSE LOZANO | DIRECTOR (THRU 11/23) Trustee or director | 1 | $0 | $0 | $0 |
| WESLEY MATTHEWS | DIRECTOR (AS OF 11/23) Trustee or director | 1 | $0 | $0 | $0 |
| PRABHAS MOGHE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DEAN PARANICAS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JENNIFER ROWLAND | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AL DE SETA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DHIRAJ SHAH | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHELE SIEKERKA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TOM WISNIEWSKI | DIRECTOR (THRU 12/23) Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended June 30, 2023: 26 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| DR JOEL BLOOM | FORMER CHAIRMAN Former | 0 | $0 | $901,845 | $45,293 |
| SIMON NYNENS | PRESIDENT & CEO (THRU 8/22) Officer | 17.5 | $0 | $513,649 | $55,082 |
| TEIK C LIM | CHAIRMAN (7/22-6/23)/INTERIM PRES. Trustee or director, Officer | 5 | $0 | $449,624 | $33,740 |
| ATAM DHAWAN | DIRECTOR Trustee or director | 1 | $0 | $417,094 | $52,428 |
| HOLLY STERN | SECRETARY (NON VOTING) Trustee or director, Officer | 1 | $0 | $345,499 | $41,592 |
| JENNIFER D'ANGELO | SVP HEALTHCARE DIVISION Highest-paid employee | 35 | $317,001 | $0 | $50,231 |
| KEVIN SCULL | CHIEF FINANCIAL OFFICER (THRU 2/23) Highest-paid employee | 35 | $205,667 | $0 | $45,706 |
| MATTHEW MOLINE | CHIEF TECHNOLOGY OFFICER Highest-paid employee | 35 | $185,762 | $0 | $52,373 |
| ZAINAB ALALI PHD | ASSOC. DR. OF QUALITY ASSURANCE Highest-paid employee | 35 | $191,303 | $0 | $22,997 |
| WILLIAM LUTZ | DIRECTOR OF VENTURELINK Highest-paid employee | 35 | $166,869 | $0 | $14,075 |
| ROBERT MEDINA | CHAIRMAN (AS OF 6/23) Trustee or director, Officer | 1 | $0 | $0 | $0 |
| DR KENNETH BLANK | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| ROBERT COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| NICHOLAS DENICHILO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| THERESA EDELSTEIN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| CRAIG GOTSMAN | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DEBBIE HART | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JOSE LOZANO | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| PRABHAS MOGHE | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| DEAN PARANICAS | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| JENNIFER ROWLAND | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| AL DE SETA | DIRECTOR (AS OF 9/22) Trustee or director | 1 | $0 | $0 | $0 |
| DHIRAJ SHAH | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| MICHELE SIEKERKA | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TOM WISNIEWSKI | DIRECTOR Trustee or director | 1 | $0 | $0 | $0 |
| TOM NEHILA | INTERIM CFO (AS OF 3/2023) Officer | 35 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 211 WARREN STREET, NEWARK, NJ 07103-3568
- In care of
- % NJIT
- Principal officer (990 for 2024)
- DR MICHAEL JOHNSON, 211 WARREN STREET 2ND FLOOR, NEWARK, NJ 07103
- Signed the 990
- TOM NEHILA, CHIEF FINANCIAL OFFICER
- Phone
- (973) 596-5800
- Website
- WWW.NJII.COM
- Return prepared by
- GRANT THORNTON ADVISORS LLC
Mission
SEE SCHEDULE O
Program accomplishments
- SEE SCHEDULE ONJII HELPS TO TURN IDEAS INTO WORKABLE SOLUTIONS ACROSS FOUR DIVISIONS: HEALTHCARE, MISSION-DRIVE AI, DEFENSE, AND ENTREPRENEURSHIP.HEALTHCARE THE NJII HEALTHCARE DIVISION SUPPORTS PROGRAMS THAT AIM TO REVOLUTIONIZE HEALTHCARE THROUGH DATA-DRIVEN TRANSFORMATION. WE ARE FOCUSED ON IMPROVING PATIENT EXPERIENCE AND POPULATION HEALTH WHILE REDUCING THE COST OF HEALTHCARE WITH INNOVATION, TECHNOLOGY, AND METRICS.NJII IS THE STATE DESIGNATED ENTITY RESPONSIBLE FOR DEVELOPING AND MANAGING THE NEW JERSEY HEALTH INFORMATION NETWORK (NJHIN) ON BEHALF OF THE NEW JERSEY DEPARTMENT OF HEALTH (NJDOH). IN COLLABORATION WITH NJDOH, WE WORK WITH HEALTHCARE DELIVERY ORGANIZATIONS TO HELP THEM PARTICIPATE AND BENEFIT FROM GOVERNMENT SPONSORED PROGRAMS. PARTICIPATION REQUIRES DATA COLLECTION, ORGANIZATION, HYGIENE AND PROCESSING. LEARN MORE ABOUT HOW EXPERT DATA SERVICES SUPPORT PARTICIPATION.SINCE THE DIVISION WAS FORMED IN 2015, OUR PROGRAMS HAVE SERVED OVER 12 MILLION PATIENTS IN NEW JERSEY. IT IS OUR MISSION TO CONTINUE TO FURTHER EXPAND CLINICAL DATA INTEROPERABILITY THROUGHOUT THE STATE WHILE PRIORITIZING TOP-LEVEL INFORMATION SECURITY STATURE TO PROTECT PATIENT AND PROVIDER DATA. MISSION-DRIVE AITHE NJII LAB BRINGS TOGETHER UNIVERSITY RESOURCES AND INDUSTRY BEST PRACTICES. TOGETHER, WE ADDRESS TODAY'S BUSINESS CHALLENGES WHILE BUILDING A SKILLS-BASED WORKFORCE TO DELIVER THEM. TAP INTO THE LATEST AI TECHNOLOGIES WITHOUT THE NEED FOR IN-HOUSE EXPERTISE OR EXTENSIVE RESOURCES. THE NJII AI LAB LEVERAGES A DECADE OF EXPERIENCE IN PROVIDING INNOVATIVE SOLUTIONS TO BUSINESSES AND THE STATE'S ONLY POLYTECHNIC UNIVERSITY.DEFENSEAT NJII, THE DEFENSE DIVISION IS MOBILIZED TO IDENTIFY, BUILD, AND IMPLEMENT INNOVATIVE SOLUTIONS THAT IDENTIFY AND OPERATIONALIZE ADVANCES IN TECHNOLOGY. USING IDEATION SESSIONS, NJII WORKS WITH INDUSTRY PARTNERS AND THE DEPARTMENT OF DEFENSE (DOD) TO UNDERSTAND HOW NEW TECHNOLOGY WILL BE DEPLOYED AND USED. NJII WORKS TO SUPPORT PROGRAM OBJECTIVES BY PROVIDING DESIGN CAPABILITIES, WORKFORCE TRAINING DEVELOPMENT AND FIELD TEST SUPPORT. THE KEY OUTCOMES ARE WORKFORCE DEVELOPMENT, IMPROVED PROTECTION OF MILITARY PERSONNEL AND CRITICAL ASSETS, AND IMPROVED EFFICIENCY OF MILITARY OPERATIONS.TO ACHIEVE THESE OUTCOMES, NJII ALIGNS AND ADVANCES EMERGING TECHNOLOGIES TO OPERATIONALIZE THEM, WITH A PARTICULAR FOCUS ON ADVANCED MANUFACTURING, CONTESTED LOGISTICS, AND AI/COMPUTER VISION. THE PROGRAMS IMPLEMENTED TOGETHER HAVE PROVIDED ASSURANCES FOR SUPPLYCHAIN, SOLDIER AND OFFICER SAFETY, UTILITIES PROTECTION AND NATURAL RESOURCE PRESERVATION.ENTREPRENEURSHIPHIGH IMPACT SCIENCE AND TECHNOLOGY FLOURISHES AT NEW JERSEY INSTITUTE FOR TECHNOLOGY (NJIT) IN OUR ACADEMIC COMMUNITY YET OFTEN DOES NOT FULFILL ITS COMMERCIAL POTENTIAL. WHILE NJIT CERTAINLY HAS SUCCESS WITH TRADITIONAL LAB-TO-MARKET STRATEGIES IP LICENSING AND FACULTY STARTUPS THE CHALLENGES TO THESE PATHWAYS ARE WELL KNOWN AND PERENNIAL. UNIVERSITY IP IS RARELY DEVELOPED WITH MARKET NEEDS IN MIND AND, AS SUCH, POTENTIAL CORPORATE PARTNERS STRUGGLE TO CONNECT THEIR BUSINESS APPLICATIONS WITH OUR TECHNOLOGIES. AND NJIT FACULTY AND RESEARCHERS RARELY FIND THE BALANCE NEEDED FOR A SUCCESSFUL UNIVERSITY SPINOUT AND A CAREER IN HIGHER EDUCATION.RECOGNIZING THESE IMPEDIMENTS, THE NJII ENTREPRENEURSHIP DIVISION HAS CREATED A THIRD PATHWAY TO DEPLOY THE NJIT ECOSYSTEM OF TECHNOLOGIES, CAPABILITIES, AND ENTREPRENEURS: A VENTURE STUDIO. UNLIKE A VENTURE FUND OR TRADITIONAL VENTURE INVESTING WHICH INVEST IN OTHER PEOPLE'S COMPANIES THE NJII VENTURE STUDIO CREATES ITS OWN HIGH-GROWTH COMPANIES AS VEHICLES FOR NJIT ASSETS. THE NJII VENTURE STUDIO IS THE DIVIDEND OF A 10-YEAR TRACK RECORD OF SUCCESSFUL NEW VENTURE INVESTMENT AND ACCELERATION AT NJII. WHILE THE NJII TEAM UTILIZES THIS UNIQUE ABILITY TO SUPPORT OUR HOMEGROWN START-UPS, THE ENTREPRENEURSHIP DIVISION ALSO OFFERS NEW VENTURE ACCELERATION SERVICES TO SUPPORT THE NEEDS OF OUR CORPORATE, STATE AND COMMUNITY PARTNERS. WE SURROUND STARTUPS IN A NETWORK OF SEASONED ENTREPRENEURS, INVESTORS, AND TECHNICAL ADVISORS AS WELL AS PROVIDE EXPERIENTIAL LEARNING OPPORTUNITIES FOR OUR COMPANIES TO ACCELERATE THEIR PATH TO PROFITABILITY AND RETURN FOR THEIR INVESTORS.Expenses $30,434,032 · grants $10,542,054 · revenue $2,502,869
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 47-1042118
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U05)
- Assets (IRS master file)
- $60,658,606
- Income (IRS master file)
- $21,213,735
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $21,213,735 | $36,629,425 | $60,658,606 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $30,773,365 | $27,724,858 | $75,143,617 | XML |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $34,340,267 | $34,778,092 | $73,825,081 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $85,737,246 | $27,105,207 | $71,920,921 | IRS |
| 990 | June 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-1042118).
Questions about NEW JERSEY INNOVATION INSTITUTE INC
- What is the EIN of NEW JERSEY INNOVATION INSTITUTE INC?
- The employer identification number (EIN) of NEW JERSEY INNOVATION INSTITUTE INC is 47-1042118.
- Is NEW JERSEY INNOVATION INSTITUTE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to NEW JERSEY INNOVATION INSTITUTE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NEW JERSEY INNOVATION INSTITUTE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of NEW JERSEY INNOVATION INSTITUTE INC due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NEW JERSEY INNOVATION INSTITUTE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of NEW JERSEY INNOVATION INSTITUTE INC?
- The 990 for the year ended June 30, 2025 names DR MICHAEL JOHNSON.
- Who are the officers and directors of NEW JERSEY INNOVATION INSTITUTE INC?
- The 990 for the year ended June 30, 2025 lists 25 people; 8 received compensation from the organization.
- How much revenue does NEW JERSEY INNOVATION INSTITUTE INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $21,213,735, expenses of $36,629,425 and total assets of $60,658,606 at year end.
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