Established in 1959, the foundation is a 501(c)(3) TAX-exempt organization that raises, invests, and distributes philanthropic gifts on behalf of new jersey institute of technology (NJIT), the state's public polytechnic university. In connecting alumni and friends with NJIT's innovative programs, research-active faculty, and talented and hardworking students, the foundation advances NJIT's pursuit of its mission of education, research, service, and economic development.