American Society For Technion- Israel Institute Of Technology Inc
- Assets
- $603.1m
- Revenue
- $86.4m
- Investments
- $220.4m
- Employees
- 75
- Location
- New York, NY
- Founding
- 10/1956
- Data as of
- 09/2023
- EIN
- 13-0434195
Organization Overview
American Society For Technion- Israel Institute Of Technology Inc, operating under the name American Technion Society, is located in New York, NY. The organization was established in 1956. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 09/2023, American Technion Society employed 75 individuals. This organization is the central organization for a national or regional group of organizations. American Technion Society 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 09/2023, American Technion Society generated $86.4m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $92.0m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, American Technion Society has awarded 15 individual grants totaling $92,430,569. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE AMERICAN TECHNION SOCIETY SUPPORTS VISIONARY EDUCATION AND WORLD-CHANGING (CONTINUED ON SCH O)
Describe the Organization's Program Activity:
STEWART AND LYNDA RESNICK CENTER FOR SUSTAINABLE PROCESSES AND CATALYSIS - SEE SCHEDULE O
THE TECHNION IS KNOWN FOR WORLD-LEADING RESEARCH IN A RANGE OF AREAS: AEROSPACE ENGINEERING, BIOTECHNOLOGY, BIOMEDICAL ENGINEERING, CANCER, COMPUTER SCIENCE, ELECTRICAL ENGINEERING, MEDICINE, QUANTUM ENGINEERING, ROBOTICS, SUSTAINABILITY, AND ENERGY/WATER. IN 2023, THE AMERICAN TECHNION SOCIETY PROVIDED FUNDING FOR THE JACOBS-TECHNION CORNELL INSTITUTE; FACULTY RECRUITMENT AND RETENTION; THE TECHNION EMERGENCY STUDENT AND SECURITY SUPPORT FUND; CAMPUS ENHANCEMENTS; AND RESEARCH IN FIELDS SUCH AS SECURITY/DEFENSE AND NEURODEGENERATIVE DISORDERS. ATS DONORS PROVIDE ONGOING SUPPORT FOR TOP TECHNION PRIORITIES: GRADUATE STUDENT FELLOWSHIPS, STUDENT HOUSING, AND AID FOR STUDENTS FROM DISADVANTAGED BACKGROUNDS.
MARTIN AND GRACE DRUAN ROSMAN HIGH PERFORMANCE COMPUTER DATA CENTER - SEE SCHEDULE O
STEPHEN KLEIN FACULTY OF AEROSPACE ENGINEERING - SEE SCHEDULE O
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Gaines Interim President (as Of 03/2023) | OfficerTrustee | 5 | $0 |
Janey Sweet President (thru 02/2023) | OfficerTrustee | 5 | $0 |
Steve Berger Chairman Of The Board | OfficerTrustee | 5 | $0 |
Zahava Bar-Nir Vice Chairman | OfficerTrustee | 5 | $0 |
Scott Leemaster Vice Chairman | OfficerTrustee | 5 | $0 |
Senator Paul B Steinberg Treasurer | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Prime Buchholz & Associates Investment | 9/29/23 | $344,553 |
Online Computers & Communications Llc Consulting | 9/29/23 | $165,387 |
Grant Thornton Llp Accounting | 9/29/23 | $154,950 |
Alliance Bernstein Lp Investment | 9/29/23 | $138,665 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $60,038,269 |
| Noncash contributions included in lines 1a–1f | $2,994,484 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $60,038,269 |
| Total Program Service Revenue | $0 |
| Investment income | $9,629,071 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,731,888 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $86,399,228 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $748,537 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $67,944,697 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,458,594 |
| Compensation of current officers, directors, key employees. | $571,661 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,069,574 |
| Pension plan accruals and contributions | $437,461 |
| Other employee benefits | $1,220,649 |
| Payroll taxes | $393,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $171,067 |
| Fees for services: Accounting | $199,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $310,589 |
| Fees for services: Investment Management | $797,900 |
| Fees for services: Other | $710,611 |
| Advertising and promotion | $787,454 |
| Office expenses | $274,235 |
| Information technology | $450,081 |
| Royalties | $0 |
| Occupancy | $761,313 |
| Travel | $732,789 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $247,070 |
| Interest | $516,992 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $397,122 |
| Insurance | $351,941 |
| All other expenses | $51,683 |
| Total functional expenses | $92,015,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,316,709 |
| Savings and temporary cash investments | $90,625 |
| Pledges and grants receivable | $22,163,600 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $33,356,829 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,830,439 |
| Net Land, buildings, and equipment | $5,742,119 |
| Investments—publicly traded securities | $269,508,965 |
| Investments—other securities | $220,433,738 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,644,716 |
| Total assets | $603,087,740 |
| Accounts payable and accrued expenses | $4,874,421 |
| Grants payable | $8,996,330 |
| Deferred revenue | $0 |
| 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 | $11,316,261 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,287,728 |
| Total liabilities | $45,474,740 |
| Net assets without donor restrictions | $22,877,424 |
| Net assets with donor restrictions | $534,735,576 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $603,087,740 |
Grants Awarded
Over the last fiscal year, American Society For Technion- Israel Institute Of Technology Inc has awarded $1,215,126 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
JACOBS TECHNION-CORNELL INSTITUTE PURPOSE: Various Projects | $1,090,126 |
ACWIS PURPOSE: Research | $125,000 |