NEW JERSEY INNOVATION INSTITUTE INC (EIN 471042118) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2014

Legal Domicile

Principal Officer

DR MICHAEL JOHNSON

Phone

9735965800

Tax Period

2023-07-01 to 2024-06-30

NEW JERSEY INNOVATION INSTITUTE INC, founded in 2014, is a mid-sized nonprofit in the Science & Technology sector that reported $30.8M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year. Expenses of $27.7M left a modest 10% surplus.

Mission

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

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $23,945,968

Program Service Revenue $3,489,725

Investment Income $3,317,672

Other Revenue $20,000

TOTAL REVENUE $30,773,365

Expense Breakdown

Grants Paid $258,000

Salaries & Benefits $12,633,948

Fundraising Expenses $0

Program Expenses $22,325,578

Other Expenses $14,832,910

TOTAL EXPENSES $27,724,858

Year-over-Year Comparison

	2023	2022	Change
Revenue	$30,773,365	$34,340,267	-0.1%
Expenses	$27,724,858	$34,778,092	-0.2%
Net Income	$3,048,507	$-437,825	-8.0%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

154

Volunteers

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

$2,029,168

Total Directors

$2,066,450

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TEIK C LIM	INTERIM PRES (THRU 10/23)/DIRECTOR	5.00	Officer Director	$0	$63,758	$913,214
ATAM DHAWAN	VICE PROVOST OF NJIT/DIRECTOR	1.00	Director	$0	$60,954	$526,238
HOLLY STERN	SECRETARY (NON VOTING)	1.00	Officer Director	$0	$45,311	$405,954
JOHN PELESKO	PROVOST OF NJIT/DIR (AS OF 9/23)	1.00	Director	$0	$16,999	$221,044
ROBERT MEDINA	CHAIRMAN	1.00	Officer Director	$0	$0	$0
DR KENNETH BLANK	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT COHEN	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLAS DENICHILO	DIRECTOR	1.00	Director	$0	$0	$0
THERESA EDELSTEIN	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG GOTSMAN	DIRECTOR (THRU 8/23)	1.00	Director	$0	$0	$0
DEBBIE HART	DIRECTOR	1.00	Director	$0	$0	$0
JOSE LOZANO	DIRECTOR (THRU 11/23)	1.00	Director	$0	$0	$0
WESLEY MATTHEWS	DIRECTOR (AS OF 11/23)	1.00	Director	$0	$0	$0
PRABHAS MOGHE	DIRECTOR	1.00	Director	$0	$0	$0
DEAN PARANICAS	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER ROWLAND	DIRECTOR	1.00	Director	$0	$0	$0
AL DE SETA	DIRECTOR	1.00	Director	$0	$0	$0
DHIRAJ SHAH	DIRECTOR	1.00	Director	$0	$0	$0
MICHELE SIEKERKA	DIRECTOR	1.00	Director	$0	$0	$0
TOM WISNIEWSKI	DIRECTOR (THRU 12/23)	1.00	Director	$0	$0	$0
JENNIFER D'ANGELO	CHIEF OPERATING OFFICER (AS OF 4/24)	35.00	Officer	$362,724	$52,163	$414,887
DR MICHAEL JOHNSON	PRESIDENT & CEO (AS OF 10/23)	35.00	Officer	$72,700	$7,179	$79,879
TOM NEHILA	CHIEF FINANCIAL OFFICER(AS OF 11/23)	35.00	Officer	$214,649	$585	$215,234
MATTHEW MOLINE	CHIEF TECHNOLOGY OFFICER	35.00	Highest	$216,930	$56,212	$273,142
KATHLEEN NAASZ	VP STRATEGIC PARTNERSHIPS	35.00	Highest	$200,451	$16,380	$216,831
JOSEPH CAUVIN	VICE PRESIDENT OPERATIONS	35.00	Highest	$175,107	$38,206	$213,313
DARLENE CARR	VP HEALTHCARE DIVISION	35.00	Highest	$176,920	$35,229	$212,149
JOHN NORDSTROM	DIR, INTEGRATION HEALTHCARE TECH.	35.00	Highest	$175,053	$23,048	$198,101
DR JOEL BLOOM	FORMER CHAIRMAN	0.00		$0	$49,136	$622,674

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	No data	No data	No data	No data
2024	$30,773,365	$27,724,858	$75,143,617	$3,048,507
2023	$34,340,267	$34,778,092	$73,825,081	$-437,825
2022	$85,737,246	$27,105,207	$71,920,921	$58,632,039
2021	$28,426,314	$29,725,789	$15,517,542	$-1,299,475

NEW JERSEY INNOVATION INSTITUTE INC