Illinois Institute Of Technology

Illinois Institute Of Technology Overview

Illinois Institute Of Technology is located in Chicago, IL. The organization was established in 1941. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 05/2020, Illinois Institute Of Technology employed 3,986 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 05/2020, Illinois Institute Of Technology generated $410.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $369.2m during the year ending 05/2020. While expenses have increased by 0.1% per year over the past 5 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INSTRUCTION SUPPORT:- ILLINOIS INSTITUTE OF TECHNOLOGY'S (IIT) SEVEN COLLEGES ALLOW STUDENTS TO DISCOVER NEW FRONTIERS IN ENGINEERING, COMPUTING, ARCHITECTURE, BUSINESS, LAW, DESIGN, AND SCIENCE AND HUMAN SCIENCES. THE SCHOOL'S NATIONALLY RANKED UNDERGRADUATE AND GRADUATE PROGRAMS OFFER EXCEPTIONAL TEACHING THAT COMBINES HANDS-ON LEARNING WITH TRAINING IN ENTREPRENEURSHIP, DESIGN THINKING, AND TECHNOLOGY. THE UNIVERSITY'S EMPHASIS ON COLLABORATION AND INTERDISCIPLINARY STUDY AND RESEARCH WILL PREPARE STUDENTS TO WORK ACROSS TRADITIONAL BOUNDARIES AND TO EXPERIENCE A PROFESSIONAL FUTURE WHERE SUCCESS KNOWS NO LIMITS. THE UNIVERSITY'S SIGNATURE INTERPROFESSIONAL PROJECTS PROGRAM (IPRO) JOINS TOGETHER STUDENTS FROM VARIOUS ACADEMIC DISCIPLINES TO WORK AS A TEAM TO TACKLE REAL-WORLD PROBLEMS, OFTEN ON BEHALF OF COMPANIES AND NONPROFITS THAT SPONSOR THE PROJECTS, USING DESIGN-CENTERED METHODOLOGY AND INNOVATIVE THINKING. ALL UNDERGRADUATE STUDENTS ARE REQUIRED TO TAKE SIX CREDIT HOURS OF IPRO COURSES. EACH IPRO COURSE IS A UNIQUE PROJECT WITH TEAMS THAT INCLUDE THE FACULTY AND ENROLLED STUDENTS. THE COURSES ENCOURAGE INTELLECTUAL INQUIRY WITH RESEARCH ON THE PROJECT SUBJECT, ANALYSIS, DESIGN, AND DEVELOPMENT. SUCH EXPERIENTIAL LEARNING REINFORCES TRADITIONAL EDUCATION METHODS, PROVIDING STUDENTS A RICHER ACADEMIC EXPERIENCE ALLOWING THEM TO GAIN KNOWLEDGE THAT GOES BEYOND THE REGULAR CLASSROOM EXPERIENCE. IIT'S GRAINGER MAKER SPACE AND THE DUCHOSSOIS IDEA SHOP FACILITY SERVES AS A CATALYST FOR INNOVATION AND IS COMPOSED OF STATE-OF-THE-ART RAPID PROTOTYPING LABS THAT INCLUDE 3D PRINTERS, CNC MILLS, ELECTRONICS WORKSTATIONS AND MANY HAND FABRICATION TOOLS; A DELL LAPTOP LAB; AN IPAD LIBRARY; A COMPUTER LAB FOR MOBILE APP DEVELOPMENT AND VIDEO EDITING; COLLABORATIVE TEAMING AREAS; AND FLEXIBLE OPEN SPACES. UNDER THE COLLEGE OF ARCHITECTURE IS THE UNIVERSITY'S DESIGN/BUILD STUDIO WHERE STUDENTS CAN EXPERIENCE FIRSTHAND THE ENTIRE LIFE CYCLE OF A SMALL-BUILDING PROJECT. THE PROJECTS ARE ENTIRELY DESIGNED AND BUILT BY ARCHITECTURE STUDENTS AT THE ILLINOIS INSTITUTE OF TECHNOLOGY'S COLLEGE OF ARCHITECTURE. THESE PROJECTS ARE LOCATED ALL OVER THE WORLD. FROM CHICAGO, TO GERMANY, TO GHANA, TO INDONESIA, TO CHILE, AND PUERTO RICO, STUDENTS HAVE TRAVELED NEAR AND FAR TO PERFORM THEIR DESIGNS. DESIGN BUILD FOCUSES ON INSPIRING AND TEACHING THROUGH ITS ARCHITECTURE. INSTRUCTION SUPPORTS OVER 50 ACADEMIC MAJORS, MORE THAN 75 MINORS, AND A VARIETY OF SPECIALIZATIONS AND IS MADE UP OF OVER 6,300 STUDENTS, INCLUDING 3,121 UNDERGRADUATE, 2,416 GRADUATE, 788 LAW STUDENTS, AND 17 STUDENTS IN CONTINUING EDUCATION PROGRAMS. THE UNIVERSITY OFFERED AND AWARDED 623 BACHELOR, 1,159 MASTER, 222 J.D., AND 84 PH.D. DEGREES DURING THE 2020 ACADEMIC YEAR.


RESEARCH:- RESEARCH IS THE HALLMARK OF OUR CULTURE OF EXCELLENCE. OUR FACULTY, STUDENTS, AND STAFF ARE LEADING BOLD RESEARCH AND DISCOVERY IN FIELDS WHERE TECHNOLOGY AND INNOVATION ARE CREATING SIGNIFICANT, MEANINGFUL CHANGE. THROUGHOUT OUR COLLEGES AND RESEARCH CENTERS, AND IN TOPICS AS VARIED AS ENERGY, THEORETICAL PHYSICS, AND SOCIAL JUSTICE, OUR RESEARCH REFLECTS OUR COMMITMENT TO SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. RESEARCH AWARDS RECEIVED IN FISCAL YEAR 2020 WERE $32 MILLION. THE UNIVERSITY RECEIVED AWARDS IN THE AREAS OF SCIENCE, ENGINEERING, TECHNOLOGY, AND MATHEMATICS ALL OF WHICH ARE SYNERGISTIC WITH THE STRATEGIC PLAN. NOTABLY, THE ELECTRICAL AND COMPUTER ENGINEERING DEPARTMENT RECEIVED 22 AWARDS TOTALING $3.8 MILLION AND THE COMPUTER SCIENCE DEPARTMENT RECEIVED 28 AWARDS FOR $1.3 MILLION. ALSO, THE BIOMEDICAL ENGINEERING DEPARTMENT RECEIVED 21 AWARDS FOR $3 MILLION, THE BIOLOGICAL SCIENCE DEPARTMENT 13 AWARDS FOR $2.4 MILLION, MECHANICAL MATERIAL AND AEROSPACE ENGINEERING 35 AWARDS TOTALING $2.8 MILLION, PHYSICS DEPARTMENT 30 AWARDS TOTALING $3.4 MILLION AND THE DEPARTMENT OF PSYCHOLOGY 8 AWARDS FOR $1.2 MILLION. IN ADDITION, THE NATIONAL CENTER FOR FOOD SAFETY AND TECHNOLOGY RECEIVED 21 AWARDS TOTALING $5.7 MILLION.


AUXILIARY SERVICES:- THIS PROVIDES FOR CAMPUS HOUSING AND DINING FOR THE STUDENTS AND INCLUDES RESIDENCE HALLS AND A DINING ROOM, APARTMENT-STYLE BUILDINGS, SEVEN FRATERNITY HOUSES, AND TWO SORORITY HOUSES.


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Illinois Institute Of Technology Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Partial Year Trustee
$0

Illinois Institute Of Technology Vendors

Vendor Name (Service)Compensation
Corvias Development Llc
Construction
$9,018,038
Chartwells Dining
Food Service Provider
$8,539,205
Sos Security Llc
Security Service
$2,527,961
Gca Services Group
Janitorial Service
$4,014,782
Ventas Inc
Real Estate Rental Service
$2,395,218
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$442,899
Related organizations$0
Government grants $41,237,650
All other contributions, gifts, grants, and similar amounts not included above$69,612,933
Noncash contributions included in lines 1a–1f $4,804,996
Total Revenue from Contributions, Gifts, Grants & Similar$111,293,482
Total Program Service Revenue$283,190,767
Investment income $5,330,045
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $1,110,535
Net Gain/Loss on Asset Sales $9,803,084
Net Income from Fundraising Events -$261,061
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $410,466,852

Illinois Institute Of Technology Grants Recieved

Over the last fiscal year, we have identified 16 grants that Illinois Institute Of Technology has recieved totaling $702,915.

Awarding OrganizationAmount
John W And Jeanne M Rowe Foundation

Albany, NY

PURPOSE: GENERAL PURPOSES OF ORGANIZATION

$500,000
John P Calamos Sr Foundation

Naperville, IL

PURPOSE: TO SUPPORT THE MISSION OF THE CHARITY

$60,000
Ling Foundation

Simpsonville, SC

PURPOSE: EDUCATIONAL FELLOWSHIP

$37,098
Ling Foundation

Simpsonville, SC

PURPOSE: EDUCATIONAL FELLOWSHIP

$37,098
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$28,719
Jackson Lewis Foundation

West Harrison, NY

PURPOSE: UNRESTRICTED SUPPORT OF THE ORGANIZATION'S EXEMPT PURPOSE

$11,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$242,994,501
Earnings$6,574,000
Net Contributions$18,590,000
Other Expense$5,983,100
Grants$6,212,900
Ending Balance$255,962,501

Illinois Institute Of Technology Peer Organizations

Organization NameAssets
Loyola University Of Chicago
Chicago, IL
$863,455,479
Depaul University
Chicago, IL
$903,291,560
Marquette University
Milwaukee, WI
$679,500,550
Illinois Institute Of Technology
Chicago, IL
$410,466,852
Butler University
Indianapolis, IN
$304,986,997
Bradley University
Peoria, IL
$238,646,085
Drake University
Des Moines, IA
$222,285,025
The Lutheran University Association Inc
Valparaiso, IN
$192,641,554
University Of Indianapolis
Indianapolis, IN
$187,846,389
Webster University
St Louis, MO
$161,315,329
Lindenwood College
St Charles, MO
$153,756,093
Maryville University Of St Louis
St Louis, MO
$159,674,655

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