New Jersey Innovation Institute Inc

Organization Overview

New Jersey Innovation Institute Inc is located in Newark, NJ. The organization was established in 2015. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. As of 06/2022, New Jersey Innovation Institute Inc employed 148 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Innovation Institute Inc 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 06/2022, New Jersey Innovation Institute Inc generated $85.7m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 50.6% each year . All expenses for the organization totaled $27.1m during the year ending 06/2022. While expenses have increased by 1.0% per year over the past 3 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 2022, New Jersey Innovation Institute Inc has awarded 22 individual grants totaling $434,250. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

WE ARE AN INNOVATIVE RESEARCH ORG. DEDICATED TO REVITALIZING ECONOMIC DEVELOPMENT WITHIN NJ.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE SCHEDULE ONJII HELPS TO TURN IDEAS INTO WORKABLE SOLUTIONS ACROSS SIX DIVISIONS: HEALTHCARE DELIVERY SYSTEMS, BIOPHARMA, DATA AND ADVANCED TECHNOLOGY, HUMAN CAPITAL, DEFENSE AND HOMELAND SECURITY, AND ENTREPRENEURSHIP.HEALTHCARE DELIVERY SYSTEMSNJII HELPS CREATE NEW MODELS OF EVIDENCE-BASED HEALTHCARE. BUILDING ON A SECURE EXCHANGE OF DIGITAL INFORMATION, THESE NEW DELIVERY SYSTEMS IMPROVE THE QUALITY OF CARE AND FOSTER NEW MEDICAL DEVICE TECHNOLOGY TO LOWER COSTS AND IMPROVE OUTCOMES.BIOPHARMANJII HELPS PHARMACEUTICAL COMPANIES DEVELOP AND APPLY INNOVATIVE, COST-SAVING MANUFACTURING TECHNOLOGIES AND WORKS WITH BIOTECHNOLOGY FIRMS TO SCALE INNOVATION FROM LAB TO COMMERCIAL PRODUCTION. THE BIOPHARMA DIVISION AT NJII WAS ESTABLISHED TO HELP THE INDUSTRY OVERCOME CHALLENGES THEY FACE AS THEY DEVELOP THE NEXT WAVE OF CELL AND GENE THERAPIES, WORKING OUT OF A STATE-OF-THE-ART CELL AND GENE THERAPY DEVELOPMENT CENTER FOR FLEXIBLE PROCESS DEVELOPMENT AND CLINICAL MANUFACTURING. NJII'S MISSION IS TO SUPPORT INDUSTRY-WIDE ADVANCEMENT, SO NJII ALSO FOCUSES ON WORKFORCE DEVELOPMENT AND THE INCUBATION OF PROMISING START-UPS.DATA & ADVANCED TECHNOLOGYTHE MISSION OF THE DATA & TECHNOLOGY DIVISION IS TO ESTABLISH AN ECOSYSTEM OF TECHNOLOGY HUBS THAT CONNECT CLIENTS, INDUSTRY, AND TECHNOLOGY PROVIDERS AND SUPPLY THEM WITH A LOCATION, R&D AND IP, MAN-POWER, FUNDING AND GOVERNMENT RELATIONS SUPPORT. THE HUBS INCLUDE EDTECH, FINTECH, CYBER SECURITY, HARDWARE AND DATA SCIENCE.HUMAN CAPITALTHE HUMAN CAPITAL DIVISION AT NJII IS FOCUSED ON HELPING EMPLOYERS MAKE THE MOST OF THEIR MOST VALUABLE ASSET; THEIR PEOPLE. NJII BELIEVES STRONGLY IN PROTECTING THE VALUE OF THE INVESTMENTS MADE IN THE WORKFORCE AND IS DEDICATED TO PROVIDING PROGRAMMING AND SUPPORT THAT MEETS THE NEEDS OF INDUSTRIES AND THE BUSINESSES WITHIN THEM. DEFENSE & HOMELAND SECURITYNJII HELPS ADDRESS THE DEMANDS OF DEFENSE AND NATIONAL SECURITY, INCLUDING PORT SECURITY, BIO-METRIC AND SENSOR-BASED DETECTION SYSTEMS, WEAPONS, ENERGETICS, AND MATERIAL LOGISTICS AS WELL AS COMMUNICATIONS PROJECTS AND SECURITY SYSTEMS FOR INFRASTRUCTURE DEFENSE, COMMAND, CONTROL AND FIRST-RESPONDER SUPPORT. ENTREPRENEURSHIPTHE ENTREPRENEURSHIP DIVISION AT NJII IS FOCUSED ON ENGAGING STARTUPS, GROWING BUSINESSES, AND ORGANIZATIONS IN ENTREPRENEURIAL THINKING AND ACTIVITIES. NJII WORKS WITH ORGANIZATIONS AND TEAMS TO HELP THEM EXPAND THEIR INNOVATION MINDSET AND TRAIN OTHERS IN THE METHODS OF ENTREPRENEURSHIP. THIS DIVISION RUNS AN INCUBATOR CALLED "VENTURELINK" WHICH IS ALSO THE NAME OF A BUILDING THAT IS LOCATED ON THE NJIT CAMPUS AND OFFERS FLEXIBLE PRIVATE AND CO-WORKING OFFICE SPACE. THE DIVISION IS TASKED WITH COMMERCIALIZING INTELLECTUAL PROPERTY THAT COMES FROM NJIT AND GROWING NJII ENTREPRENEURSHIP PROGRAMS AND SERVICES ACROSS NEW JERSEY.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
4medica Inc
Healthcare Consulting
$2,206,802
Velatura Llc
Information Technology
$1,939,805
Global Tek Works
Consulting Services
$588,810
Healthshare Exhange Of Southeastern Pa
Healthcare Consulting
$526,750
Care Plus Bergen Inc
Healthcare Consulting
$510,980
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $18,943,809
All other contributions, gifts, grants, and similar amounts not included above$28,681
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$18,972,490
Total Program Service Revenue$2,403,914
Investment income $35
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,576,075
Net Gain/Loss on Asset Sales $62,784,732
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $85,737,246

Grants Awarded

Over the last fiscal year, New Jersey Innovation Institute Inc has awarded $434,250 in support to 22 organizations.

Grant RecipientAmount

ACENDA INC

PURPOSE: SUBSTANCE USE DISORDER PROGRAM

$25,000

ADULT FAMILY HEALTH SERVICES LLC

PURPOSE: SUBSTANCE USE DISORDER PROGRAM

$12,500

CORNER HOUSE FOUNDATION

PURPOSE: SUBSTANCE USE DISORDER PROGRAM

$25,000

AGAPE COUNSELING SERVICES INC

PURPOSE: SUBSTANCE USE DISORDER PROGRAM

$20,000

DAMON HOUSE INC

PURPOSE: SUBSTANCE USE DISORDER PROGRAM

$12,500

FAMILY CONNECTIONS INC

PURPOSE: SUBSTANCE USE DISORDER PROGRAM

$12,500
View Grant Profile

Peer Organizations

Organization NameAssets
Institute For Advanced Study
Princeton, NJ
$127,450,651
Project Liberty Institute
New York, NY
$13,800,000
New Jersey Innovation Institute Inc
Newark, NJ
$85,737,246
Advanced Robotics For Manufacturing Institute
Pittsburgh, PA
$23,365,841
University City Science Center
Philadelphia, PA
$18,691,804
Research Institute For Fragrance Materials Inc
Mahwah, NJ
$11,951,894
Sustainable Manufacturing Innovation Alliance Corp
West Henrietta, NY
$9,262,088
Iup Research Institute
Indiana, PA
$6,387,874
Mipi Alliance Inc
Piscataway, NJ
$4,112,196
Apprise Incorporated
Princeton, NJ
$4,169,419
Solution Mining Research Institute Inc
Clarks Summit, PA
$1,219,329
Speculative Technologies Inc
Claymont, DE
$714,647
Human Computation Institute
Ithaca, NY
$485,975
Hume Initiative Incorporated
New York, NY
$0
Cognitive Immunology Research Collaborative
Pittsburgh, PA
$0
American Competitiveness Institute
Gwyedd Valley, PA
-$48,707
Phoscope
New York, NY
$0
Society For The Study Of Human Development
West Chester, PA
$0
Brain Fitness Foundation
New York, NY
$2,800
Networks Electronic Commerce And Telecommunications Net Institute
New York, NY
$23
Eastern States Section Of The Combustion Institute
Lewes, DE
$10,255
Us Ai4good Inc
Newark, DE
$30,000
Institute For Architectural Research Inc
Grand Viewonhudson, NY
$0
Beneficial Ai Foundation
Wilmington, DE
$0
Blue Planet Marine Research Foundation
New York, NY
$0

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