Overview
What is Foundation At Nj Institute Of Technology?
The Foundation at New Jersey Institute of Technology is a resource development organization based in Newark, New Jersey. It is dedicated to raising and managing funds for New Jersey Institute of Technology (NJIT), primarily through building relationships with supporters. The funds are utilized to enhance scholarships, chairs, professorships, and programs at NJIT, with one hundred percent of restricted funds being allocated in accordance with donor restrictions. In the given year, over $5 million was granted to NJIT, providing scholarships and fellowships to approximately 1,233 students. The Foundation operates under a mission to support NJIT's development and growth while ensuring that all funds are used solely for their intended purposes.
Is Foundation At Nj Institute Of Technology legitimate?
Foundation At Nj Institute Of Technology is a legitimate nonprofit organization registered as a 501(c)(3) entity. Foundation At Nj Institute Of Technology submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Mission Statement of Foundation At Nj Institute Of Technology
The Foundation at New Jersey Institute of Technology (FNJIT) is a resource development organization with a mission to generate and manage funds for New Jersey Institute of Technology (NJIT). Through cultivating relationships with supporters, FNJIT advances the development and expansion of scholarships, chairs, professorships, and programs at NJIT. Notably, one hundred percent of the donor-designated funds raised by FNJIT are allocated in accordance with the donors' stipulations and are distinctly earmarked for specific purposes, preventing their utilization for administrative or overhead expenses.
Impact
This information is meant to be a general summary of Foundation At Nj Institute Of Technology. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
The Foundation at NJ Institute of Technology has a significant impact on the institution by raising and managing funds to support scholarships and fellowships. In the past year, over $5 million was awarded in scholarship and fellowship grants to students at NJIT. Through endowed gifts and annual donations, the Foundation supports financial aid initiatives, benefiting approximately 1,233 undergraduate and graduate students. By fostering relationships with supporters, the Foundation contributes to the development and growth of scholarships, chairs, professorships, and programs at NJIT. All funds raised are utilized in accordance with donor restrictions, ensuring that 100% of the contributions go directly towards supporting students and academic endeavors, without being used for overhead or administrative expenses.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Organization Details
Founding Year
1959
Phone
(973) 596-3427
Principal Officer
Kenneth Alexo Jr
Main Address
UNIVERSITY HEIGHTS, NEWARK, NJ, 071021982
NTEE Category
Code: B110 - Education
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