EIN 47-1042118

New Jersey Innovation Institute

IRS 501(c) type
501(c)(3)
Num. employees
131
City
Year formed
2014
Most recent tax filings
2023-06-01
Description
New Jersey Innovation Institute, an NJIT corporation, founded in 2014, revitalizes economic development in NJ through innovative research. Njii helps turn ideas into workable solutions across six divisions: Biopharma, Data and Advanced Technology, Defense and Homeland Security, Entrepreneurship, Healthcare Delivery Systems, and Human-Centered Design.
Total revenues
$34,340,267
2023
Total expenses
$34,778,092
2023
Total assets
$73,825,081
2023
Num. employees
131
2023

Program areas at New Jersey Innovation Institute

See schedule onjii helps to turn ideas into workable solutions across four divisions: healthcare delivery systems, professional corporate education, defense and homeland security, and entrepreneurship.healthcare delivery systemsnjii helps create New models of evidence-based healthcare. Building on a secure exchange of digital information, these New delivery systems improve the quality of care and foster New medical device technology to lower costs and improve outcomes.professional corporate educationthe professional corporate education division at njii is focused on helping employers make the most of their most valuable asset; their people. Njii believes strongly in protecting the value of the investments made in the workforce and is dedicated to providing programming and support that meets the needs of industries and the businesses within them. Defense & homeland securitynjii helps address the demands of defense and national security, including port security, bio-metric and sensor-based detection systems, weapons, energetics, and material logistics as well as communications projects and security systems for infrastructure defense, command, control and first-responder support. Entrepreneurshipthe entrepreneurship division at njii is focused on engaging startups, growing businesses, and organizations in entrepreneurial thinking and activities. Njii works with organizations and teams to help them expand their Innovation mindset and train others in the methods of entrepreneurship. This division runs an incubator called "venturelink" which is also the name of a building that is located on the njit campus and offers flexible private and co-working office space. The division is tasked with commercializing intellectual property that comes from njit and growing njii entrepreneurship programs and services across New Jersey.

Grants made by New Jersey Innovation Institute

GranteeGrant descriptionAmount
RWJBH Corporate ServicesSubstance Use Disorder Program$815,750
Hackensack Meridian HealthSubstance Use Disorder Program$699,000
Hackensack Meridian Health / HMH Residential Care IncSubstance Use Disorder Program$93,500
...and 53 more grants made totalling $2,483,250

Personnel at New Jersey Innovation Institute

NameTitleCompensation
Simon NynensPresident and Chief Executive Officer$0
Tom NehilaChief Financial Officer$0
Matthew MolineChief Technology Officer$185,762
Susan Flynn-HollanderGeneral Counsel and Chief Compliance Officer$274,717
Jennifer D'AngeloSenior Vice President Healthcare Division / Senior Vice President and General Manager , Healthcare$317,001
...and 11 more key personnel

Financials for New Jersey Innovation Institute

RevenuesFYE 06/2023
Total grants, contributions, etc.$27,041,814
Program services$3,227,234
Investment income and dividends$2,231,873
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$1,839,346
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$34,340,267

Form 990s for New Jersey Innovation Institute

Fiscal year endingDate received by IRSFormPDF link
2023-062024-05-14990View PDF
2022-062023-05-12990View PDF
2021-062022-05-09990View PDF
2020-062022-05-17990View PDF
2019-062022-01-06990View PDF
...and 4 more Form 990s
Data update history
August 13, 2024
Posted financials
Added Form 990 for fiscal year 2023
August 4, 2024
Updated personnel
Identified 5 new personnel
July 13, 2024
Used new vendors
Identified 1 new vendor, including
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
July 7, 2023
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Grantmaking organizationsResearch centersHeadquarter / parent organizationsCharities
Issues
Science and technology
Characteristics
Conducts researchState / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
Address
323 Martin Luther King JR Blvd
Newark, NJ 07102
Metro area
New York-Newark-Jersey City, NY-NJ-PA
County
Essex County, NJ
Website URL
njii.com/ 
Phone
(973) 596-5800
IRS details
EIN
47-1042118
Fiscal year end
June
Taxreturn type
Form 990
Year formed
2014
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
U00: Science and Technology Research: General
NAICS code, primary
5417: Scientific Research and Development Services
Parent/child status
Central organization
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