NJIT Foundation Board Adopts New Name

In a significant move to align with contemporary values and foster a truly inclusive environment, the Board of Overseers of the Foundation at New Jersey Institute of Technology (NJIT) unanimously passed a resolution to change its official name. The governing body will now be known as the "Board of Directors of the Foundation at NJIT.”

The decision, reached during the Board's meeting on Dec. 7, 2023, marks a historic shift for the Foundation, an independent, tax-exempt organization established in 1959 to secure, manage, and distribute philanthropic gifts in support of the mission and activities of NJIT. Originally incorporated as the Newark College of Engineering Research Foundation, its governing body was known as the “Board of Directors” until 1965.

“I applaud and thank the board for moving decisively and unanimously on this matter,” said Teik C. Lim, president of NJIT. “This change is a reflection of NJIT’s commitment to creating a truly welcoming community for all of its members – students, faculty, staff, alumni, and friends.”

Under the leadership of the Foundation Board, both annual philanthropic support and the size of NJIT’s endowment have grown considerably in recent years. Since 2018, alumni, corporations, foundations, and other donors have contributed just over $94 million for scholarships, faculty research, academic and co-curricular programming, and construction projects on campus. Through gifts and investment returns, the endowment is currently valued at more than $150 million – a 40% increase from just five years ago. 

The Foundation Board decided that the continued use of the term "Overseers" – with its historical connections to the enslavement and oppression of Black and African American people – was inconsistent with the university's commitment to inclusion and its rejection of language with connotations of racial injustice.

The action taken by the Foundation Board is also in line with a broader national trend, where institutions of higher education and other nonprofit organizations are reevaluating and revising language with potentially offensive historical ties. The new name will be reflected in the Board's bylaws, legal documents, and all promotional and public relations materials associated with the Foundation.

“NJIT is an incredibly diverse institution and has a deep history of serving those who are traditionally underserved – students who are the first in their families to attend college, come from low-income backgrounds, and are underrepresented in the STEM professions,” said Bob Medina, chair of the Foundation Board of Directors. “This change communicates to the NJIT community and our philanthropic partners that diversity, equity, inclusion, and belonging are core values to our board, to the Foundation, and to the university as a whole.”