New York Institute Of Technology
- Assets
- $318.3m
- Revenue
- $334.1m
- Investments
- $25.9m
- Employees
- 2,785
- Location
- Old Westbury, NY
- Founding
- 04/1959
- Data as of
- 08/2019
- EIN
- 11-1788788
Organization Overview
New York Institute Of Technology is located in Old Westbury, NY. The organization was established in 1959. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, New York Institute Of Technology employed 2,785 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Institute Of Technology is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2019, New York Institute Of Technology generated $334.1m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $331.9m during the year ending 08/2019. While expenses have increased by 2.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, New York Institute Of Technology has awarded 19 individual grants totaling $440,070. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE COMMITTED TO EDUCATING THE NEXT GENERATION OF LEADERS AND INSPIRING INNOVATION. (SEE SCH O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Henry Foley President | OfficerTrustee | 60 | $1,115,816 |
Jerry Balentine Executive VP & COO | Officer | 40 | $671,603 |
Junius Gonzales Provost & VP Academic Affairs | Officer | 40 | $551,272 |
Catherine Flickinger VP Hr, Gen Counsel & Secretary | Officer | 40 | $468,451 |
Barbara J Holahan VP Fin. Affairs, Cfo/treasurer | Officer | 40 | $451,129 |
Shane Speights Site Dean Nyitcom | 40 | $426,279 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hellman Construction Co Inc Construction | 6/29/21 | $2,669,592 |
Universal Protection Service Lp Security | 6/29/21 | $2,394,342 |
Acsys Inc Advertising | 6/29/21 | $2,160,035 |
H2m Architects Engineers Land Surveying Construction | 6/29/21 | $1,020,864 |
Canon Financial Services Inc Financial Services | 6/29/21 | $548,656 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,029,840 |
| Investment income | $2,859,530 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $514,085 |
| Net Gain/Loss on Asset Sales | $220,560 |
| Net Income from Fundraising Events | -$24,263 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $334,117,617 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $59,918,051 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,307,385 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $115,851,022 |
| Pension plan accruals and contributions | $7,206,116 |
| Other employee benefits | $23,559,832 |
| Payroll taxes | $9,683,120 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $497,816 |
| Fees for services: Accounting | $63,060 |
| Fees for services: Lobbying | $60,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $256,309 |
| Fees for services: Other | $9,686,786 |
| Advertising and promotion | $4,287,575 |
| Office expenses | $15,025,645 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,136,821 |
| Travel | $2,856,532 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,328,980 |
| Interest | $942,657 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,325,925 |
| Insurance | $7,285,769 |
| All other expenses | $0 |
| Total functional expenses | $331,899,154 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $48,244,687 |
| Pledges and grants receivable | $7,986,779 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,165,440 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,569,946 |
| Investments—publicly traded securities | $75,650,117 |
| Investments—other securities | $25,851,772 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,977,892 |
| Total assets | $318,333,196 |
| Accounts payable and accrued expenses | $37,523,368 |
| Grants payable | $0 |
| Deferred revenue | $75,970,765 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $53,391,192 |
| Total liabilities | $166,885,325 |
| Net assets without donor restrictions | $139,559,509 |
| Net assets with donor restrictions | $6,298,913 |
| Capital stock or trust principal, or current funds | $5,589,449 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $151,447,871 |
Grants Awarded
Over the last fiscal year, New York Institute Of Technology has awarded $69,267 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CERNO BIOSCIENCE LLC PURPOSE: RESEARCH ASSISTANCE | $41,153 |
THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NY PURPOSE: RESEARCH | $16,110 |
New York, NY PURPOSE: RESEARCH | $12,004 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that New York Institute Of Technology has recieved totaling $401,023.
| Awarding Organization | Amount |
|---|---|
Alzheimers Disease And Related Disorders Association Inc Chicago, IL PURPOSE: PROGRAM SUPPORT | $150,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $87,388 |
American Parkinson Disease Assoc Staten Island, NY PURPOSE: INFORMATION & REFERRAL | $29,700 |
Silicon Valley Community Foundation Mountain View, CA PURPOSE: Education | $25,000 |
American Thyroid Association Inc Alexandria, VA PURPOSE: RESEARCH | $25,000 |
Diabetes Action Research And Education Foundation Bethesda, MD | | $20,000 |
Endowment Analysis
| Beg. Balance | $84,815,425 |
| Earnings | $21,085,597 |
| Admin Expense | $244,377 |
| Net Contributions | $182,783 |
| Other Expense | $4,679,323 |
| Grants | $257,269 |
| Ending Balance | $100,902,836 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |
St Johns University New York Jamaica, NY | $1,703,677,283 | $798,473,536 |
Villanova University Villanova, PA | $2,287,455,797 | $872,271,471 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
Lehigh University Bethlehem, PA | $3,057,301,515 | $713,288,867 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,538,245,078 | $606,887,297 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Quinnipiac University Hamden, CT | $1,807,258,104 | $531,949,834 |
Seton Hall University South Orange, NJ | $890,349,000 | $473,034,000 |