NEW YORK INSTITUTE OF TECHNOLOGY

EIN: 111788788 501(c)(3) Education

OLD WESTBURY, NY

Total Revenue
$381,995,828
Total Expenses
$369,691,908
Total Assets
$588,419,128
Net Assets
$280,996,608
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1955
Legal Domicile
NY
Principal Officer
JERRY BALENTINE
Phone
5166867915
Tax Period
2024-07-01 to 2025-06-30

NEW YORK INSTITUTE OF TECHNOLOGY, founded in 1955, is a major nonprofit in the Education sector that reported $382.0M in total revenue in fiscal year 2024. Expenses of $369.7M left a modest 3% surplus.

Mission

NEW YORK INSTITUTE OF TECHNOLOGY (NYIT) OFFERS VARIOUS DEGREE PROGRAMS, INCLUDING UNDERGRADUATE, GRADUATE, AND PROFESSIONAL DEGREES, IN MORE THAN 50 FIELDS OF STUDY, INCLUDING ARCHITECTURE AND DESIGN; ARTS AND SCIENCES; (CONTINUED ON SCHEDULE O)

Program Service Accomplishments

Program 1
Expenses: $344,718,152 Revenue: $349,666,625

THE NEW YORK INSTITUTE OF TECHNOLOGY'S PRIMARY PROGRAM SERVICE IS THE PROVISION OF UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION DESIGNED TO PREPARE STUDENTS FOR SUCCESSFUL CAREERS AND...

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THE NEW YORK INSTITUTE OF TECHNOLOGY'S PRIMARY PROGRAM SERVICE IS THE PROVISION OF UNDERGRADUATE, GRADUATE, AND PROFESSIONAL EDUCATION DESIGNED TO PREPARE STUDENTS FOR SUCCESSFUL CAREERS AND MEANINGFUL CIVIC ENGAGEMENT. NYIT DELIVERS ACADEMIC INSTRUCTION THROUGH A BROAD RANGE OF DEGREE AND CERTIFICATE PROGRAMS IN FIELDS INCLUDING HEALTH SCIENCES, ENGINEERING, ARCHITECTURE AND DESIGN, COMPUTER SCIENCE, BUSINESS, EDUCATION, AND THE LIBERAL ARTS. THROUGH CLASSROOM INSTRUCTION, LABORATORY WORK, CLINICAL TRAINING, EXPERIENTIAL LEARNING, AND APPLIED RESEARCH OPPORTUNITIES, NYIT EMPHASIZES TECHNOLOGY-ENABLED EDUCATION, INNOVATION, AND REAL-WORLD PROBLEM SOLVING. THE INSTITUTION SERVES A DIVERSE STUDENT POPULATION ACROSS ITS CAMPUSES AND ONLINE PLATFORMS, PROVIDING ACCESS TO CAREER-ORIENTED EDUCATION ALIGNED WITH WORKFORCE AND SOCIETAL NEEDS. NYIT SUPPORTS STUDENT SUCCESS THROUGH ACADEMIC ADVISING, TUTORING, INTERNSHIPS, CLINICAL PLACEMENTS, AND OTHER STUDENT SUPPORT SERVICES THAT ENHANCE LEARNING OUTCOMES, RETENTION, AND DEGREE COMPLETION. FACULTY SCHOLARSHIP, RESEARCH, AND PROFESSIONAL PRACTICE FURTHER STRENGTHEN INSTRUCTIONAL QUALITY AND CONTRIBUTE TO ADVANCES IN KNOWLEDGE AND PRACTICE. DURING THE YEAR, NYIT CONFERRED DEGREES AND CREDENTIALS TO GRADUATES WHO ARE PREPARED TO CONTRIBUTE TO THEIR PROFESSIONS, COMMUNITIES, AND THE GLOBAL ECONOMY IN FURTHERANCE OF THE INSTITUTE'S EDUCATIONAL MISSION. NYIT PROVIDES UNDERGRADUATE, GRADUATE, AND DOCTORAL INSTRUCTION TO A DIVERSE STUDENT POPULATION. APPROXIMATELY 7,852 STUDENTS ATTENDED THE INSTITUTION LAST YEAR AND 2,494 GRADUATED. THE INSTITUTE OFFERS THE FOLLOWING SCHOOLS AND COLLEGES: COLLEGE OF ARTS AND SCIENCES COLLEGE OF OSTEOPATHIC MEDICINE SCHOOL OF ARCHITECTURE AND DESIGN COLLEGE OF ENGINEERING AND COMPUTING SCIENCES SCHOOL OF HEALTH PROFESSIONS SCHOOL OF MANAGEMENT SOME HIGHLIGHTS FROM THE INSTITUTE'S MOST RECENT SCHOOL YEAR: -99% OF OUR FIRST TIME, FULL TIME STUDENTS RECEIVE SOME FORM OF FINANCIAL AID -$32,000+ AVERAGE FINANCIAL AID AWARD FOR FIRST-TIME, FULL-TIME DEGREE-SEEKING STUDENTS AT OUR NEW YORK CAMPUSES -12:1 STUDENT-TO-FACULTY RATIO -LEADING INSTITUTION RECOGNIZED FOR THEIR EXCEPTIONAL DIVERSITY -116,000 ALUMNI -81% OF OUR INTERNS RECEIVED OFFERS OF CONTINUED EMPLOYMENT -TOP 2% OF U.S. COLLEGES FOR RETURN ON INVESTMENT FOR LOW-INCOME STUDENTS -30% OF UNDERGRADUATE STUDENTS ARE FIRST-GENERATION -15% OF STUDENTS AT OUR U.S. CAMPUSES ARE INTERNATIONAL STUDENTS -67% OF STUDENTS AT OUR U.S. CAMPUSES ARE FROM NEW YORK STATE. -TOP 10% RETURN IN INVESTMENT OVER 20, 30 AND 40 YEARS. PROGRAMMATIC REVENUES REPRESENT TUITION AND FEES, ROOM AND BOARD, ANCILLARY EDUCATIONAL SERVICES, AND OTHER EDUCATIONAL PROGRAMS (REPORTED ON LINE 11(D) OF PART VIII OF THE 990).

Program 2
Expenses: $5,551,434 Revenue: $4,417,922

SCHOLARSHIPS AND FELLOWSHIPS 85,801,967.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,008,972
Program Service Revenue $354,084,547
Investment Income $8,496,099
Other Revenue $10,406,210
TOTAL REVENUE $381,995,828

Expense Breakdown

Grants Paid $86,063,839
Salaries & Benefits $171,027,562
Fundraising Expenses $2,588,902
Program Expenses $350,269,586
Other Expenses $112,542,184
TOTAL EXPENSES $369,691,908

Year-over-Year Comparison

2024 2023 Change
Revenue $381,995,828 $381,498,402 +0.0%
Expenses $369,691,908 $366,369,094 +0.0%
Net Income $12,303,920 $15,129,308 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
20
Independent Members
19
Employees
2754
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$2,938,950
Total Directors
21
$1,586,183
Key Employees
5
$2,717,142
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR HENRY FOLEY PRESIDENT (THRU 06/30/2025) 60.00
Officer Director
$1,534,600 $51,583 $1,586,183
PETER J ROMANO CHAIRPERSON 5.00
Officer Director
$0 $0 $0
DAN FERRARA VICE CHAIR 5.00
Officer Director
$0 $0 $0
MICHAEL J MERLO VICE CHAIR 5.00
Officer Director
$0 $0 $0
CATHERINE ALLEN TRUSTEE 5.00
Director
$0 $0 $0
ANDREW BERNER TRUSTEE 5.00
Director
$0 $0 $0
HUMAYUN CHAUDHRY TRUSTEE (AS OF 03/2025) 5.00
Director
$0 $0 $0
DOMENICK CHIECO TRUSTEE 5.00
Director
$0 $0 $0
PETER FERENTINOS TRUSTEE 5.00
Director
$0 $0 $0
ANGELA IANNACCI TRUSTEE (AS OF 03/2025) 5.00
Director
$0 $0 $0
HENRY IERVOLINO TRUSTEE 5.00
Director
$0 $0 $0
SANTHOSH KESHAVAN TRUSTEE 5.00
Director
$0 $0 $0
JOHN KEVILLE TRUSTEE 5.00
Director
$0 $0 $0
THOMAS VAN LAAN TRUSTEE 5.00
Director
$0 $0 $0
TED MOUDIS TRUSTEE 5.00
Director
$0 $0 $0
PATRICK O'SHAUGHNESSY TRUSTEE 5.00
Director
$0 $0 $0
MONTE N REDMAN TRUSTEE 5.00
Director
$0 $0 $0
DEBORAH VERDERAME TRUSTEE (AS OF 03/2025) 5.00
Director
$0 $0 $0
DEBORAH VOGEL TRUSTEE 5.00
Director
$0 $0 $0
ELI WACHTEL TRUSTEE (THRU 08/2024) 5.00
Director
$0 $0 $0
ROBERT A WILD ESQ TRUSTEE 5.00
Director
$0 $0 $0
CATHERINE FLICKINGER VP HR, GEN. COUNSEL & SECRETARY 40.00
Officer
$492,893 $61,933 $554,826
BARBARA J HOLAHAN VP FIN. AFFAIRS, CFO/TREASURER 40.00
Officer
$448,834 $61,248 $510,082
EILEEN VALERIO CONTROLLER & ASSISTANT TREASURER 40.00
Officer
$237,230 $50,629 $287,859
JERRY BALENTINE PROVOST & EXECUTIVE VICE PRESIDENT 40.00
Key Emp
$771,043 $78,447 $849,490
NICOLE WADSWORTH DEAN, COLLEGE OF OSTEOPATHIC MED. 40.00
Key Emp
$486,336 $68,097 $554,433
JOSEPH POSILLICO VP FOR ENROLL MGMT/STRATEGIC COMM. 40.00
Key Emp
$424,186 $63,617 $487,803
BABAK DASTGHEIB-BEHESHTI DEAN ENGINEERING SCHOOL 40.00
Key Emp
$391,290 $58,805 $450,095
DONALD BOOTH VP, CAPITAL PLANNING & FACILIITES 40.00
Key Emp
$313,679 $61,642 $375,321
SHANE SPEIGHTS SITE DEAN, COLLEGE OF OSTEOPATHIC MED. 40.00
Highest
$444,202 $75,719 $519,921
PATRICK MINSON VP DEV. & ALUM. RELATIONS & EXT AFF. 40.00
Highest
$382,415 $25,350 $407,765
PENNIE TURGEON VP OF IT & CIO 40.00
Highest
$438,247 $26,231 $464,478
ANTHONY GERDES PROFESSOR 40.00
Highest
$367,184 $62,753 $429,937
MARIA RITA PERBELLINI DEAN, SCHOOL OF ARCHITECTURE/DESIGN 40.00
Highest
$349,151 $27,590 $376,741
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $381,995,828 $369,691,908 $588,419,128 $12,303,920
2024 $381,498,402 $366,369,094 $586,710,960 $15,129,308
2023 $352,214,770 $342,435,250 $440,803,344 $9,779,520
2022 $372,691,826 $326,387,751 $422,758,629 $46,304,075
2021 $325,278,153 $322,128,862 $405,132,037 $3,149,291
2019 $334,117,617 $331,899,154 $318,333,196 $2,218,463
2018 $327,180,390 $313,791,522 $331,766,897 $13,388,868
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