Indiana Institute Of Technology Inc
- Assets
- $320.8m
- Revenue
- $87.2m
- Investments
- $0.0
- Employees
- 1,042
- Location
- Fort Wayne, IN
- Founding
- 12/1949
- Data as of
- 06/2023
- EIN
- 35-0845258
Organization Overview
Indiana Institute Of Technology Inc, operating under the name Indiana Tech, is located in Fort Wayne, IN. The organization was established in 1949. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2023, Indiana Tech employed 1,042 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Indiana Tech 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 06/2023, Indiana Tech generated $87.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $94.7m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES LEARNERS WITH CAREER-FOCUSED, PROFESSIONAL EDUCATION IN THE AREAS OF BUSINESS, COMPUTER STUDIES, ENGINEERING, CRIMINAL SCIENCE, AND GENERAL STUDIES.
Describe the Organization's Program Activity:
AT INDIANA INSTITUTE OF TECHNOLOGY, WE EXCEL AT EDUCATING STUDENTS FROM ALL WALKS OF LIFE, FOR ALL KINDS OF MEANINGFUL WORK. WE'RE A TRULY INCLUSIVE COMMUNITY OF LEARNERS, ENSURING THAT STUDENTS ARE SUPPORTED, INSPIRED, AND EMPOWERED TO MAXIMIZE THEIR PROFESSIONAL PROSPECTS, ADVANCE IN THEIR CAREERS, AND IMPROVE THEIR LIVES AND THE LIVES OF OTHERS. WE BELIEVE STUDENTS LEARN BEST WHEN THEY MEANINGFULLY ENGAGE WITH A REAL-WORLD PROFESSOR. WITH AN ALUM. WITH A CAUSE. WITH A TEAM. WITH A PEER. SIMPLY PUT, OUR MODEL IS HANDS-ON. INDIANA TECH OFFERS DEGREES AT THE ASSOCIATE, BACHELOR'S, MASTER'S AND DOCTORAL LEVELS, IN FIELDS SUCH AS ENGINEERING, COMPUTER SCIENCES, CYBERSECURITY, BUSINESS, ANALYTICS, CRIMINAL JUSTICE, BIOLOGY, HEALTH SCIENCES, AND MORE. IN ALL, THE UNIVERSITY OFFERS MORE THAN 60 QUALITY DEGREE OPTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karl W Einolf President | OfficerTrustee | 40 | $512,936 |
Judy K Roy Treasurer | Officer | 40 | $248,463 |
Steve A Herendeen VP Enrollment Management | Officer | 40 | $203,998 |
Daniel Grigg VP Institutional Advancement | Officer | 40 | $204,046 |
Kathlene Watland Vpaa | Officer | 40 | $188,322 |
Ying Shang Dean Of Engineering And Cs | 40 | $160,276 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Asher Agency Advertising | 6/29/23 | $2,449,324 |
Eab Global Advertising | 6/29/23 | $958,150 |
Cma Plus Llc Construction Mgmt | 6/29/23 | $603,323 |
My Footpath Student Recruiting | 6/29/23 | $404,158 |
Parkview Occupational Health Center Counseling Services | 6/29/23 | $242,840 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,500 |
| Related organizations | $8,287 |
| Government grants | $4,599,615 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,470,494 |
| Noncash contributions included in lines 1a–1f | $565,372 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,082,896 |
| Total Program Service Revenue | $76,354,806 |
| Investment income | $7,515,849 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,820,683 |
| Net Income from Fundraising Events | -$3,532 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $42,890 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $87,182,224 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,672,583 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,630,212 |
| Compensation of current officers, directors, key employees. | $1,311,543 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,531,443 |
| Pension plan accruals and contributions | $1,920,917 |
| Other employee benefits | $2,204,097 |
| Payroll taxes | $1,783,281 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,010 |
| Fees for services: Accounting | $104,169 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $140,250 |
| Fees for services: Investment Management | $780,043 |
| Fees for services: Other | $6,903,646 |
| Advertising and promotion | $3,724,726 |
| Office expenses | $315,895 |
| Information technology | $2,020,630 |
| Royalties | $0 |
| Occupancy | $3,952,437 |
| Travel | $454,113 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $357,410 |
| Interest | $834,651 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,169,570 |
| Insurance | $502,021 |
| All other expenses | $1,351,472 |
| Total functional expenses | $94,726,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,350 |
| Savings and temporary cash investments | $10,338,792 |
| Pledges and grants receivable | $5,734,783 |
| Accounts receivable, net | $1,613,895 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $581,776 |
| Prepaid expenses and deferred charges | $2,213,113 |
| Net Land, buildings, and equipment | $135,867,001 |
| Investments—publicly traded securities | $157,167,490 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,295,310 |
| Total assets | $320,817,510 |
| Accounts payable and accrued expenses | $4,691,371 |
| Grants payable | $0 |
| Deferred revenue | $2,256,922 |
| Tax-exempt bond liabilities | $38,688,920 |
| 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 | $3,149,549 |
| Total liabilities | $48,786,762 |
| Net assets without donor restrictions | $237,031,970 |
| Net assets with donor restrictions | $34,998,778 |
| 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 | $320,817,510 |
Grants Awarded
Over the last fiscal year, Indiana Institute Of Technology Inc has awarded $26,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GLOBAL LEADERSHIP SUMMIT & BEYOND PURPOSE: GLS 2021 SUMMIT FW | $20,000 |
ISSUE MEDIA GROUP PURPOSE: UNDERWRITING SPONSORSHIP | $6,000 |