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New Jersey Innovation Institute Inc

EIN 47-1042118 · Newark, NJ

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair66 out of 100GovernanceStrong95 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

SEE SCHEDULE O

Income
$21.2 million
Spending
$36.6 million
Spent on programs
83%
Reserves
14.6 months of spending
Largest source of income
government grants, 75%
Employees
122
Volunteers
12
Highest pay
$912,649, president of njit/director

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 66 out of 100. Higher than 37% of charities in its peer group (science, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 14.6 months of spending.

  • Debt

    16 of 20

    It owes 26% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 73% of income.

  • Income trend

    0 of 15

    Income fell 31% on the year before.

  • Spending floor

    15 of 15

    83% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 95 out of 100. Higher than 42% of charities in its peer group (science, $10m to $100m).

  • Independent board

    25 of 25

    9 of 12 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $30.4 million spent. 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.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since January 2015.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.