Nonprofit · EIN 87-1012023
NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC
Tax-exempt · SARATOGA SPGS, NY 12866
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| May 31, 2025 | 990 | $2,581,251 | $2,564,291 | $16,960 | $397,258 | $746,023 | -$348,765 |
| May 31, 2024 | 990 | $2,361,620 | $2,961,651 | -$600,031 | $311,456 | $677,181 | -$365,725 |
| May 31, 2023 | 990 | $3,480,247 | $3,155,150 | $325,097 | $834,852 | $600,546 | $234,306 |
Financial details: 990 for the year ended May 31, 2025
Revenue
- Contributions, gifts and grants
- $2,581,251
- of which government grants
- $2,581,251
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $35,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $55,472
- Accounting fees
- $38,500
- Travel
- $60,939
- Depreciation
- $2,047
- Program services (functional)
- $2,545,793
- Management and general (functional)
- $18,498
Balance sheet and other
- Total assets, start of year
- $311,456
- Total assets, end of year
- $397,258
- Total liabilities, end of year
- $746,023
- Net assets, end of year
- -$348,765
- Land, buildings and equipment
- $3,761
- Net assets with donor restrictions
- -$348,765
- Gross receipts
- $2,581,251
- Employees
- 0
- Year formed
- 2021
- State of legal domicile
- MD
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 May 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHARLES WESSNER | BOARD MEMBER Trustee or director | 0 | $0 |
| MELINDA WOODS | BOARD MEMBER Trustee or director | 0 | $0 |
| MICHAEL RUSSO | PRESIDENT Officer | 40 | $0 |
990 for the year ended May 31, 2024: 3 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| MICHAEL RUSSO | PRESIDENT Officer | 40 | $0 | $308,430 |
| MELINDA WOODS | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| CHARLES WESSNER | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
990 for the year ended May 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| MICHAEL RUSSO | PRESIDENT Officer | 40 | $0 | $317,715 |
| MELINDA WOODS | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
| CHARLES WESSNER | BOARD MEMBER Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1150 ROUTE 9P, SARATOGA SPGS, NY 12866-7218
- In care of
- % MICHAEL RUSSO
- Signed the 990
- MICHAEL RUSSO, PRESIDENT
- Phone
- (888) 872-6448
- Website
- WWW.NIIT-USA.ORG
- Return prepared by
- Roger Van Nort CPA
Mission
IDENTIFY ROADBLOCKS TO INNOVATION IN STRATEGIC INDUSTRY SECTORS AND ENSURE THEY ARE ELIMINATED
Program accomplishments
- IDENTIFIED ROADBLOCKS TO INNOVATION IN STRATEGIC INDUSTRY SECTORS AND WORKED TO ELIMINATE THESE ROADBLOCKS.Expenses $2,545,793 · revenue $2,581,251
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 May, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | May 31, 2026 | October 15, 2026 | Not on file |
| 2024 | May 31, 2025 | October 15, 2025 | 990 on file |
| 2023 | May 31, 2024 | October 15, 2024 | 990 on file |
IRS record
- EIN
- 87-1012023
- 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
- 2022
- Accounting year ends
- May
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U05)
- Assets (IRS master file)
- $397,258
- Income (IRS master file)
- $2,581,251
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | May 2025 | $2,581,251 | $2,564,291 | $397,258 | XML |
| 990 | May 2024 | $2,361,620 | $2,961,651 | $311,456 | XML |
| 990 | May 2023 | $3,480,247 | $3,155,150 | $834,852 | XML |
| 990 | December 2021 | $443,557 | $383,239 | $338,205 | 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 87-1012023).
Questions about NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC
- What is the EIN of NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC?
- The employer identification number (EIN) of NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC is 87-1012023.
- Is NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY 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 NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC due?
- The return for tax year 2025 (the year ending May 31, 2026) is due October 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended May 2025.
- Who are the officers and directors of NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC?
- The 990 for the year ended May 31, 2025 lists 3 people; 0 received compensation from the organization.
- How much revenue does NATIONAL INSTITUTE OF INNOVATION AND TECHNOLOGY INC have?
- On its 990 for the year ended May 31, 2025 it reported revenue of $2,581,251, expenses of $2,564,291 and total assets of $397,258 at year end.
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