National Institute of Innovationand Technology Inc

HANOVER, MD EIN: 87-1012023 Website

IDENTIFY ROADBLOCKS TO INNOVATION IN STRATEGIC INDUSTRY SECTORS AND ENSURE THEY ARE ELIMINATED

Financial Overview

From 2024 IRS Form 990-PF

Total Assets

$311K

-62.7% YoY

Annual Giving

$505K

Grant Count

12

Avg Grant Size

$42K

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Financial History

Multi-year comparison from IRS filings

Revenue
Expenses
Qualifying Distributions
Net Investment Income
$0$957K$2M$3M$4M202120232024
Metric202420232021
Total Assets$311,456$834,852$338,205
Revenue$2,361,620$3,480,247$443,557
Expenses$2,961,651$3,155,150$383,239
Qualifying Distributions
Net Investment Income
Distributable Amount

Giving Over Time

Total grant dollars and number of grants per year

$0$126K$253K$379K$505K0 grants20210 grants202312 grants2024

Grant Insights

How this funder distributes its grants

Top Recipients

Top 10 recipients in 2024

WAND NEWCO 3 INC$100KINSTITUTE FOR AMERICAN A…$100KMACNY CALLAHAN MANGEMENT…$72KMANUFACTURING WORKS$50KAPPLIED MATERIALS INC$35KTSMC ARIZONA CORP$30KVERMONT HITEC INC$26KINFINERA CORPORATION$22KWESTERN DIGITAL TECHNOLO…$22KINFINEON TECH AMERICAS C…$22K

Grant Size Distribution

12 grants across all recorded years

8<$50K2$50–100K2$100–250K$250–500K$500K–1M$1–5M$5M+

Giving History

Grant recipients and amounts by year

No grants recorded for .

Who else does National Institute of Innovationand Technology Inc fund?

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Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

NameTitleHoursCompensation
MICHAEL RUSSOPRESIDENT40
MELINDA WOODSBOARD MEMBER
CHARLES WESSNERBOARD MEMBER

Geographic Focus

Where this funder has awarded grants

Grant Distribution by State

6states

Cities

ClevelandEl SegundoFremontLewisvillePhoenixRochesterSan JoseSanta ClaraSyracuseWilliston

Data last updated March 2026. Sourced from IRS Form 990-PF filings.

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