2025-03-01T13:38:32-06:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2023-07-01 471042118 NEW JERSEY INNOVATION INSTITUTE INC NEWJ 9735965800 323 MARTIN LUTHER KING JR BLVD NEWARK NJ 07102 TOM NEHILA CHIEF FINANCIAL OFFICER 9735965800 2025-02-28 1 1 SCOTT THOMPSETT P00741490 2125990100 2023 2025-03-06 01:10:19Z DR MICHAEL JOHNSON 323 MARTIN LUTHER KING JR BLVD NEWARK NJ 07102 30773365 0 X WWW.NJII.COM X 2014 NJ WE ARE AN INNOVATIVE RESEARCH ORG. DEDICATED TO REVITALIZING ECONOMIC DEVELOPMENT WITHIN NJ. 16 13 154 13 0 0 27041814 23945968 3227234 3489725 2231873 3317672 1839346 20000 34340267 30773365 6415500 258000 0 0 11234754 12633948 0 0 0 17127838 14832910 34778092 27724858 -437825 3048507 73825081 75143617 16854576 15124605 56970505 60019012 X SEE SCHEDULE O 0 0 22325578 258000 3489725 SEE SCHEDULE ONJII HELPS TO TURN IDEAS INTO WORKABLE SOLUTIONS ACROSS FIVE DIVISIONS: HEALTHCARE, LEARNING AND DEVELOPMENT INITIATIVE, DEFENSE, ENTREPRENEURSHIP AND ARTIFICIAL INTELLIGENCE & MACHINE LEARNING.HEALTHCARE NJII HEALTHCARE DRIVES DATA-DRIVEN HEALTHCARE TRANSFORMATION, ENHANCING PATIENT EXPERIENCE AND POPULATION HEALTH WHILE REDUCING COSTS THROUGH INNOVATION AND TECHNOLOGY. AS THE STATE-DESIGNATED ENTITY, THE HEALTHCARE DIVISION MANAGES THE NEW JERSEY HEALTH INFORMATION NETWORK (NJHIN) FOR THE NJ DEPARTMENT OF HEALTH (NJDOH). IN COLLABORATION WITH HEALTHCARE ORGANIZATIONS, THE HEALTHCARE DIVISION FACILITATES PARTICIPATION IN GOVERNMENT PROGRAMS, REQUIRING ROBUST DATA MANAGEMENT. SINCE 2015, ITS PROGRAMS HAVE SERVED OVER 12 MILLION PATIENTS, WITH A MISSION TO EXPAND CLINICAL DATA INTEROPERABILITY AND ENSURE TOP-LEVEL INFORMATION SECURITY.LEARNING AND DEVELOPMENT INITIATIVELDI IS A COLLABORATIVE EFFORT BETWEEN NJIT AND NJII, LEVERAGING THE EXPERTISE OF FACULTY, PARTNERS, AND SUBJECT MATTER EXPERTS. THIS APPROACH PROVIDES A WIDE RANGE OF EDUCATIONAL AND TRAINING OPPORTUNITIES, TAILORED TO MEET THE DEMANDS OF TODAY'S DYNAMIC BUSINESS ENVIRONMENT.DEFENSEAT NJII, THE DEFENSE DIVISION IS MOBILIZED TO IDENTIFY, BUILD, AND IMPLEMENT INNOVATIVE SOLUTIONS THAT IDENTIFY AND OPERATIONALIZE ADVANCES IN TECHNOLOGY. USING IDEATION SESSIONS, NJII WORKS WITH INDUSTRY PARTNERS AND THE DEPARTMENT OF DEFENSE (DOD) TO UNDERSTAND HOW NEW TECHNOLOGY WILL BE DEPLOYED AND USED. NJII WORKS TO SUPPORT PROGRAM OBJECTIVES BY PROVIDING DESIGN CAPABILITIES, WORKFORCE TRAINING DEVELOPMENT AND FIELD TEST SUPPORT. THE KEY OUTCOMES ARE WORKFORCE DEVELOPMENT, IMPROVED PROTECTION OF MILITARY PERSONNEL AND CRITICAL ASSETS, AND IMPROVED EFFICIENCY OF MILITARY OPERATIONS.TO ACHIEVE THESE OUTCOMES, NJII ALIGNS AND ADVANCES EMERGING TECHNOLOGIES TO OPERATIONALIZE THEM, WITH A PARTICULAR FOCUS ON ADVANCED MANUFACTURING, CONTESTED LOGISTICS, AND AI/COMPUTER VISION. THE PROGRAMS IMPLEMENTED TOGETHER HAVE PROVIDED ASSURANCES FOR SUPPLY CHAIN, SOLDIER AND OFFICER SAFETY, UTILITIES PROTECTION AND NATURAL RESOURCE PRESERVATION.ENTREPRENEURSHIPTHE NJII ENTREPRENEURSHIP DIVISION HAS CREATED A THIRD PATHWAY TO DEPLOY THE NJIT ECOSYSTEM OF TECHNOLOGIES, CAPABILITIES, AND ENTREPRENEURS: A VENTURE STUDIO. UNLIKE A VENTURE FUND OR TRADITIONAL VENTURE INVESTING WHICH INVEST IN OTHER PEOPLE'S COMPANIES THE NJII VENTURE STUDIO CREATES ITS OWN HIGH-GROWTH COMPANIES AS VEHICLES FOR NJIT ASSETS. THE NJII VENTURE STUDIO IS THE DIVIDEND OF A 10-YEAR TRACK RECORD OF SUCCESSFUL NEW VENTURE INVESTMENT AND ACCELERATION AT NJII. WHILE THE NJII TEAM UTILIZES THIS UNIQUE ABILITY TO SUPPORT ITS HOMEGROWN START-UPS, THE ENTREPRENEURSHIP DIVISION ALSO OFFERS NEW VENTURE ACCELERATION SERVICES TO SUPPORT THE NEEDS OF ITS CORPORATE, STATE AND COMMUNITY PARTNERS. NJII SURROUNDS STARTUPS IN A NETWORK OF SEASONED ENTREPRENEURS, INVESTORS, AND TECHNICAL ADVISORS AS WELL AS PROVIDES EXPERIENTIAL LEARNING OPPORTUNITIES FOR ITS COMPANIES TO ACCELERATE THEIR PATH TO PROFITABILITY AND RETURN FOR THEIR INVESTORS.ARTIFICIAL INTELLIGENCE & MACHINE LEARNINGTHE NJII AI/MACHINE LEARNING DIVISION OFFERS EXPERT SERVICES TO MEET AI NEEDS. AI-POWERED TOOLS AND TECHNOLOGY CAN BE A COMPETITIVE ASSET FOR A COMPANY'S GROWTH OBJECTIVES. EDUCATION OF STAFF, IMPLEMENTATION OF TECHNOLOGY, AND INTEGRATION OF TOOLS CAN BENEFIT MOST ORGANIZATIONS LOOKING FOR EFFICIENCY. THIS DIVISION WORKS TO MODERNIZE PROCESSES AND UPSKILL STAFF UTILIZING A DECADE OF EXPERIENCE. 22325578 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 276 0 1 154 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 13 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 NJ X CHARLENE NICHOLSON 9735965321 323 MARTIN LUTHER KING JR BLVD NEWARK NJ 07102 TEIK C LIM INTERIM PRES (THRU 10/23)/DIRECTOR 5.00 30.00 X X 0 849456 63758 ATAM DHAWAN VICE PROVOST OF NJIT/DIRECTOR 1.00 34.00 X 0 465284 60954 HOLLY STERN SECRETARY (NON VOTING) 1.00 34.00 X X 0 360643 45311 JOHN PELESKO PROVOST OF NJIT/DIR (AS OF 9/23) 1.00 34.00 X 0 204045 16999 ROBERT MEDINA CHAIRMAN 1.00 1.00 X X 0 0 0 DR KENNETH BLANK DIRECTOR 1.00 0.00 X 0 0 0 ROBERT COHEN DIRECTOR 1.00 0.00 X 0 0 0 NICHOLAS DENICHILO DIRECTOR 1.00 0.00 X 0 0 0 THERESA EDELSTEIN DIRECTOR 1.00 0.00 X 0 0 0 CRAIG GOTSMAN DIRECTOR (THRU 8/23) 1.00 0.00 X 0 0 0 DEBBIE HART DIRECTOR 1.00 0.00 X 0 0 0 JOSE LOZANO DIRECTOR (THRU 11/23) 1.00 0.00 X 0 0 0 WESLEY MATTHEWS DIRECTOR (AS OF 11/23) 1.00 0.00 X 0 0 0 PRABHAS MOGHE DIRECTOR 1.00 0.00 X 0 0 0 DEAN PARANICAS DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER ROWLAND DIRECTOR 1.00 0.00 X 0 0 0 AL DE SETA DIRECTOR 1.00 0.00 X 0 0 0 DHIRAJ SHAH DIRECTOR 1.00 0.00 X 0 0 0 MICHELE SIEKERKA DIRECTOR 1.00 0.00 X 0 0 0 TOM WISNIEWSKI DIRECTOR (THRU 12/23) 1.00 0.00 X 0 0 0 JENNIFER D'ANGELO CHIEF OPERATING OFFICER (AS OF 4/24) 35.00 0.00 X 362724 0 52163 DR MICHAEL JOHNSON PRESIDENT & CEO (AS OF 10/23) 35.00 0.00 X 72700 0 7179 TOM NEHILA CHIEF FINANCIAL OFFICER(AS OF 11/23) 35.00 0.00 X 214649 0 585 MATTHEW MOLINE CHIEF TECHNOLOGY OFFICER 35.00 0.00 X 216930 0 56212 KATHLEEN NAASZ VP STRATEGIC PARTNERSHIPS 35.00 0.00 X 200451 0 16380 JOSEPH CAUVIN VICE PRESIDENT OPERATIONS 35.00 0.00 X 175107 0 38206 DARLENE CARR VP HEALTHCARE DIVISION 35.00 0.00 X 176920 0 35229 JOHN NORDSTROM DIR, INTEGRATION HEALTHCARE TECH. 35.00 0.00 X 175053 0 23048 DR JOEL BLOOM FORMER CHAIRMAN 0.00 35.00 X 0 573538 49136 1594534 2452966 465160 26 1 1 1 VELATURA LLC 120 N WASHINGTON SQUARE SUITE 316 LANSING MI 48933 INFORMATION TECHNOLOGY 1734848 TEKSYSTEMS (ALLEGIS GROUP HOLDINGS INC 7437 RACE ROAD HANOVER MD 21076 HEALTHCARE CONSULTING 622285 FIRELY BV WESTERDOK 442 BH AMSTERDAM NL HEALTHCARE CONSULTING 423742 GLOBAL TEK WORKS 3110 SPECTRUM IRVINE CA 92618 CONSULTING SERVICES 409480 INTRAPRISE HEALTH LLC 1821 KATER STREET PHILADELPHIA PA 19146 HEALTHCARE CONSULTING 214731 9 354529 23591439 23945968 PROF. DEVELOPMENT 541900 2185794 2185794 DIGITAL SCI. STUDIO 541900 804400 804400 REIMBURSEMENT REVENUE 541900 291970 291970 OTHER ACTIVITIES 541900 207561 207561 3489725 3317672 3317672 20000 0 20000 20000 20000 30773365 3489725 0 3337672 X 258000 258000 514152 514152 9738400 7533587 2204813 760912 550144 210768 912176 659509 252667 708308 512111 196197 123845 123845 125924 82975 42949 81680 81680 25626 25626 9056989 9014040 42949 4354 2954 1400 17100 17100 491963 460750 31213 186378 132442 53936 96188 57726 38462 812041 397131 414910 198272 198272 SHARED SERVICES 1271898 931561 340337 EQUIPMENT AND SUPPLIES 1143523 1011582 131941 SUBSCRIPTIONS 1015526 572730 442796 MISC. EXPENSES 172368 129276 43092 9235 1960 7275 27724858 22325578 5399280 0 X 1076510 2937102 66030565 67103088 91441 65242 174038 500765 235388 745381 1361975 798054 894873 563921 5322266 3228118 73825081 75143617 4178916 3054049 386733 313283 10900000 10900000 1388927 857273 16854576 15124605 X 0 0 894874 563921 56075631 59455091 56970505 60019012 73825081 75143617 3048507 0 X 0 1 X 1 0 X 18654722 21741711 18972490 27041814 23945968 110356705 18654722 21741711 18972490 27041814 23945968 110356705 110356705 11617 1306188 1576110 4071219 3337672 10302806 120659511 14507757 0.91460 0.94100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 297946 186217 111729 1064029 611837 452192 563921 OPERATING LEASE LIABILITY 832444 SUBSCRIPTION LIABILITY 24829 857273 1 AGAPE COUNSELING SERVICES INC 815 ROUTE 9 LANOKA HARBOR NJ 08734 223809294 501(C)(3) 7500 0 SUBSTANCE USE DISORDER PROGRAM ANOTHER DOOR OPENS RECOVERY 700 S CLINTON AVE TRENTON NJ 086111916 451478195 N/A 20000 0 SUBSTANCE USE DISORDER PROGRAM CITY OF PASSAIC 330 PASSAIC STREET PASSAIC NJ 07055 226002194 GOVT 12500 0 SUBSTANCE USE DISORDER PROGRAM COOPERATIVE CARE PARTNERSHIP INC 1076 ROUTE 47 SOUTH RIO GRANDE NJ 08242 461262924 N/A 25000 0 SUBSTANCE USE DISORDER PROGRAM EVA'S VILLAGE INC 393 MAIN STREET PATERSON NJ 07501 222424542 501(C)(3) 25000 0 SUBSTANCE USE DISORDER PROGRAM GOOD NEWS HOME INC 33 BARTLES CORNER ROAD FLEMINGTON NJ 08822 222481670 501(C)(3) 7500 0 SUBSTANCE USE DISORDER PROGRAM HOLY NAME MEDICAL CENTER INC 718 TEANECK ROAD TEANECK NJ 07666 221487322 501(C)(3) 20000 0 SUBSTANCE USE DISORDER PROGRAM NEWBRIDGE SERVICES INC 7 INDUSTRIAL ROAD PEQUANNOCK NJ 07440 221725830 501(C)(3) 20000 0 SUBSTANCE USE DISORDER PROGRAM OCEAN HEALTHCARE PCP-TUCKERTON LLC 213 W MAIN STREET TUCKERTON NJ 08087 815222129 N/A 20000 0 SUBSTANCE USE DISORDER PROGRAM ORGANIZATION FOR RECOVERY INC 519 NORTH AVENUE PLAINFIELD NJ 07060 223523677 501(C)(3) 7500 0 SUBSTANCE USE DISORDER PROGRAM OWEN HEALTH CARE INC 2041 SPRINGFIELD AVENUE VAUXHALL NJ 07088 223775955 N/A 12500 0 SUBSTANCE USE DISORDER PROGRAM PEOPLE HELPING PEOPLE IN NEED-ABUBAKR SAKHU 372 SOUTH MAIN STREET PHILLIPSBURG NJ 08865 223785054 501(C)(3) 25000 0 SUBSTANCE USE DISORDER PROGRAM SPECTRUM HEALTH CARE INC 74-80 PACIFIC AVENUE JERSEY CITY NJ 07304 222512383 501(C)(3) 7500 0 SUBSTANCE USE DISORDER PROGRAM ANSWERS MOVING FORWARD SUPPORTIVE SERV 1344 SPRINGFIELD AVENUE IRVINGTON NJ 07111 383916171 N/A 12500 0 SUBSTANCE USE DISORDER PROGRAM WOMEN OF HOPE RESOURCE CENTER 14 ESTAUGH AVE BERLIN NJ 080091414 320055330 501(C)(3) 7500 0 SUBSTANCE USE DISORDER PROGRAM 10 5 PART I, LINE 2: THE SUBSTANCE USE DISORDER PROGRAM PROVIDES FUNDING TO QUALIFYING TREATMENT PROVIDERS TO HELP THEM DEPLOY OR UPGRADE ELECTRONIC HEALTH RECORD TECHNOLOGY AND PROVIDE MORE EFFECTIVE CARE TO THOSE SUFFERING FROM ADDICTION. THE USE OF ALL GRANT FUNDING IS MONITORED IN ACCORDANCE WITH GRANT STIPULATIONS. 0 0 0 0 0 0 0 1 0 TEIK C LIM INTERIM PRES (THRU 10/23)/DIRECTOR 0 608514 0 122000 0 118942 0 14000 0 49758 0 913214 0 0 DR JOEL BLOOM FORMER CHAIRMAN 0 516634 0 0 0 56904 0 14000 0 35136 0 622674 0 0 ATAM DHAWAN VICE PROVOST OF NJIT/DIRECTOR 0 443630 0 0 0 21654 0 14000 0 46954 0 526238 0 0 JENNIFER D'ANGELO CHIEF OPERATING OFFICER (AS OF 4/24) 322634 0 39400 0 690 0 26326 0 25837 0 414887 0 0 0 HOLLY STERN SECRETARY (NON VOTING) 0 342995 0 0 0 17648 0 14000 0 31311 0 405954 0 0 MATTHEW MOLINE CHIEF TECHNOLOGY OFFICER 211240 0 5000 0 690 0 18756 0 37456 0 273142 0 0 0 JOHN PELESKO PROVOST OF NJIT/DIR (AS OF 9/23) 0 169288 0 0 0 34757 0 8708 0 8291 0 221044 0 0 KATHLEEN NAASZ VP STRATEGIC PARTNERSHIPS 199161 0 0 0 1290 0 15964 0 416 0 216831 0 0 0 TOM NEHILA CHIEF FINANCIAL OFFICER(AS OF 11/23) 214573 0 0 0 76 0 0 0 585 0 215234 0 0 0 JOSEPH CAUVIN VICE PRESIDENT OPERATIONS 168817 0 5000 0 1290 0 14602 0 23604 0 213313 0 0 0 DARLENE CARR VP HEALTHCARE DIVISION 171336 0 5000 0 584 0 14169 0 21060 0 212149 0 0 0 JOHN NORDSTROM DIR, INTEGRATION HEALTHCARE TECH. 171363 0 3000 0 690 0 14198 0 8850 0 198101 0 0 0 PART I, LINE 3 COMPENSATION OF NJII'S PRESIDENT AND CEO IS ESTABLISHED PURSUANT TO THE POLICIES AND PROCEDURES OF A RELATED ORGANIZATION, THE NEW JERSEY INSTITUTE OF TECHNOLOGY. HIS COMPENSATION IS ESTABLISHED WITHIN COMPETITIVE RANGES AND IS DETERMINED BASED ON COMPARING THE SALARIES OF SIMILARLY SITUATED EXECUTIVES AT PEER INSTITUTIONS WITHIN THE SAME GEOGRAPHICAL REGION. PART I, LINE 7 IN CALENDAR YEAR 2023, NJII PROVIDED BONUSES TO VARIOUS INDIVIDUALS REPORTED ON THE FORM 990 UPON MEETING CERTAIN OBJECTIVE PERFORMANCE-BASED CRITERIA AS OUTLINED IN THE ORGANIZATION'S COMPENSATION POLICY. THESE PAYMENTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II). FORM 990, PART III, LINE 1 THE NEW JERSEY INNOVATION INSTITUTE (NJII), AN NJIT CORPORATION, WAS FOUNDED IN 2014 AND HELPS TURN IDEAS INTO WORKABLE SOLUTIONS ACROSS FIVE DIVISIONS: HEALTHCARE, LEARNING AND DEVELOPMENT INITIATIVE, DEFENSE, ENTREPRENEURSHIP AND ARTIFICIAL INTELLIGENCE & MACHINE LEARNING. NJII COMBINES THE VAST RESOURCES OF NJIT, STRONG AND FAR-REACHING INDUSTRY AND GOVERNMENT RELATIONSHIPS, AND PROVEN METHODS FOR BUILDING INDUSTRY CENTRIC ECOSYSTEMS TO HELP DRIVE INNOVATION AND DELIVER SOLUTIONS THAT MAKE A DIRECT IMPACT ON THE ECONOMY AND THE HEALTH AND WELFARE OF ITS PARTICIPANTS. NJII APPLIES THE INTELLECTUAL AND TECHNOLOGICAL RESOURCES OF NJIT TO CHALLENGES IDENTIFIED BY INDUSTRY PARTNERS, TO SPUR PRODUCT CREATION AND ENHANCEMENT, DEVELOP SOLUTIONS FOR SECTOR-WIDE AND/OR COMPANY-FOCUSED CHALLENGES, AND SERVE AS A CATALYST FOR REGIONAL ECONOMIC GROWTH. FORM 990, PART VI, SECTION A, LINE 3 EFFECTIVE MARCH 2023, TOM NEHILA BECAME THE INTERIM CHIEF FINANCIAL OFFICER OF NJII. NJII PAID A THIRD PARTY MANAGEMENT COMPANY FOR THE SERVICES RENDERED BY MR. NEHILA UNTIL SUCH TIME AS HE BECAME A FULL-TIME NJII EMPLOYEE IN NOVEMBER OF 2023. AMOUNTS PAID TO MR. NEHILA, VIA THE THIRD PARTY MANAGEMENT COMPANY, TOTALED $195,848 FOR SERVICES PROVIDED TO NJII IN CALENDAR YEAR 2023 AND IS REPORTED IN PART VII AS COMPENSATION PAID BY AN UNRELATED THIRD PARTY TO AN NJII OFFICER. IN ADDITION TO COMPENSATION PAID BY THE THIRD PARTY MANAGEMENT COMPANY, MR. NEHILA ALSO RECEIVED $18,801 IN W-2 WAGES FROM NJII WHICH HE RECEIVED ONCE HE BECAME AN EMPLOYEE. FORM 990, PART VI, SECTION A, LINE 6 EXPLANATION OF CLASSES OF MEMBERS OR SHAREHOLDER NEW JERSEY INNOVATION INSTITUTE, INC.'S SOLE CORPORATE MEMBER IS THE NEW JERSEY INSTITUTE OF TECHNOLOGY, A SECTION 115(A)(2) GOVERNMENTAL ENTITY. FORM 990, PART VI, SECTION A, LINE 7A HOW MEMBERS OR SHAREHOLDERS ELECT GOVERNING BODY NEW JERSEY INNOVATION INSTITUTE, INC.'S SOLE CORPORATE MEMBER, NEW JERSEY INSTITUTE OF TECHNOLOGY, HAS THE FOLLOWING POWERS RESERVED TO IT WITHIN NJII'S BYLAWS: (1) TO DETERMINE THE SIZE OF NJII'S BOARD OF DIRECTORS; AND (2) TO APPOINT AND REMOVE NJII'S DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF GOVERNING BODY APPROVAL BY MEMBERS OR SHAREHOLDERS NEW JERSEY INNOVATION INSTITUTE, INC.'S (NJII) SOLE CORPORATE MEMBER, NEW JERSEY INSTITUTE OF TECHNOLOGY, HAS THE FOLLOWING POWERS RESERVED TO IT WITHIN NJII'S BYLAWS:(1) TO AUTHORIZE THE AMENDMENT AND RESTATEMENT OF NJII'S BYLAWS AND ARTICLES OF INCORPORATION; (2) TO AUTHORIZE THE MERGER, CONSOLIDATION OR OTHER REORGANIZATION OF NJII; (3) TO AUTHORIZE THE LIQUIDATION OR DISSOLUTION OF NJII; AND (4) TO AUTHORIZE THE INITIATION OF INSOLVENCY OR BANKRUPTCY PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE ORGANIZATION'S FORM 990 IS PREPARED BY A NATIONALLY RECOGNIZED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S SENIOR MANAGEMENT AND FINANCIAL TEAM. UPON COMPLETION, THE ORGANIZATION'S EXTERNAL ACCOUNTING FIRM PRESENTS THE FORM 990 TO THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF DIRECTORS TO ENABLE THEM TO FULFILL THEIR DUE DILIGENCE AND OVERSIGHT RESPONSIBILITIES. A COPY OF THE FINAL FORM 990 IS SHARED WITH THE FULL BOARD OF DIRECTORS PRIOR TO ITS ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT EACH OFFICER, DIRECTOR, AND KEY EMPLOYEE IS REQUIRED TO ANNUALLY DISCLOSE ANY CONFLICTS OF INTEREST THAT ARISE BY VIRTUE OF THEIR RELATIONSHIP TO THE ORGANIZATION, BOARD SERVICE, OR POSITION WITHIN THE ORGANIZATION. THE ORGANIZATION MONITORS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY THROUGH AN ANNUAL QUESTIONNAIRE/DISCLOSURE STATEMENT THAT IS DISTRIBUTED TO THESE INDIVIDUALS. POTENTIAL CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION REVIEW & APPROVAL PROCESS COMPENSATION OF THE PRESIDENT AND CEO, TOP MANAGEMENT AND OTHER OFFICERS OF NEW JERSEY INNOVATION INSTITUTE, INC. IS ESTABLISHED PURSUANT TO THE POLICIES AND PROCEDURES OF A RELATED ORGANIZATION, THE NEW JERSEY INSTITUTE OF TECHNOLOGY. COMPENSATION LEVELS ARE ESTABLISHED WITHIN COMPETITIVE RANGES DETERMINED VIA COMPARISONS WITH SIMILAR ORGANIZATIONS AND LOCAL MARKET CONDITIONS. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC BY RETAINING A COPY AT ITS PLACE OF BUSINESS IN ADDITION TO POSTING IT ON THE ORGANIZATION'S WEBSITE. THE FORM 990 IS ALSO AVAILABLE ON WWW.GUIDESTAR.ORG. THE ORGANIZATION'S FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT ORDINARILY MADE AVAILABLE TO THE PUBLIC, BUT, IF REQUESTED, WILL BE PROVIDED AT MANAGEMENT'S DISCRETION. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 9,014,040. MANAGEMENT AND GENERAL EXPENSES 42,949. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,056,989. PART X, LINE 22 NJII'S PARENT ORGANIZATION, THE NEW JERSEY INSTITUTE OF TECHNOLOGY, ISSUED A NO-INTEREST LOAN PAYABLE TO NJII IN THE AMOUNT OF $10,900,000. NJII WILL BEGIN REPAYING THE LOAN ON JULY 1, 2026 OVER A PERIOD OF 8 YEARS UNTIL SUCH TIME AS THE BALANCE IS PAID IN FULL. NEW JERSEY INSTITUTE OF TECHNOLOGY 323 MARTIN LUTHER KING JR BLVD NEWARK NJ 07102 226000910 PUBLIC RESEARCH UNIVERSITY NJ 115 N/A 0 FOUNDATION AT NJ INSTITUTE OF TECH 323 MARTIN LUTHER KING JR BLVD NEWARK NJ 07102 221714037 FUNDRAISING NJ 501(C)(3) LINE 7 NJIT 0 HEALTHCARE INNOVATION SOLUTIONS HOLDCO INC 211 WARREN STREET 3RD FLOOR NEWARK NJ 07103 881416611 HEALTHCARE SOFTWARE SOLUTIONS NJ NJII C 1574185 2027705 1.00000 1 0 0 1 0 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0