2024-05-14T12:50:41+00:00 2023-06-30 990 2022-07-01 043397800 MIT Real Estate Foundation Inc MITR 6172534835 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 Seth Alexander President, Treasurer, and Clerk 6172534835 2024-05-14 SETH ALEXANDER 999009999 2022 2023-04-26 12:10:37Z Seth Alexander 77 Massachusetts Avenue Cambridge MA 02139 4405000 false X X 1997 MA TO HOLD REAL ESTATE AND ANY OTHER FORM OF PROPERTY FOR THE BENEFIT OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), OF CAMBRIDGE, MASSACHUSETTS, AND OTHERWISE TO AID, ASSIST AND ENABLE MIT TO CARRY OUT ITS EDUCATIONAL AND CHARITABLE PURPOSES, ALL WITHIN THE LIMITATIONS OF SECTION 501(C)(3) AND 509(A)(3) OF THE IRS. 1 0 0 0 0 0 6000000 0 0 16000 -1595000 0 6016000 -1595000 78000 4324000 0 0 0 0 24000 65000 102000 4389000 5914000 -5984000 8819000 2816000 19000 3000 8800000 2813000 TO HOLD REAL ESTATE AND ANY OTHER FORM OF PROPERTY FOR THE BENEFIT OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), OF CAMBRIDGE, MASSACHUSETTS, AND OTHERWISE TO AID, ASSIST AND ENABLE MIT TO CARRY OUT ITS EDUCATIONAL AND CHARITABLE PURPOSES, ALL WITHIN THE LIMITATIONS OF SECTION 501(C)(3) AND 509(A)(3) OF THE IRS. false false 4372000 4324000 6000 TO HOLD REAL ESTATE AND OTHER FORMS OF PROPERTY FOR THE BENEFIT OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY. 4372000 true false false false false false false false false true false false false false true false true false false false false false false false false false true false true false false false false false false false false false false false false true true false false false true 0 0 0 false false false false false false true 1 false false false false false X 1 0 false false false false true true true true false false false true false false false false false false CA MA X JOHN DONNELLY 6172532734 77 MASSACHUSETTS AVENUE NE49-3142 CAMBRIDGE MA 02139 Seth Alexander President, Treasurer, and Clerk 1.0 60.0 X X 0 2635663 457443 Patrick Rowe Assistant Treasurer and Assistant Clerk (Incoming) 1.0 60.0 X 0 1137172 192982 Steven Marsh Assistant Treasurer and Assistant Clerk (Outgoing) 1.0 60.0 X 0 2549994 487994 0 6322829 1138419 3 false true false 0 0 0 0 0 0 0 6000 6000 0 0 4399000 6000000 0 -1601000 -1601000 -1601000 0 0 0 0 0 -1595000 6000 0 -1601000 4324000 4324000 5000 5000 0 0 0 0 6000 6000 REAL ESTATE PROPERTY TAXES AND FEES 54000 48000 6000 0 0 0 0 4389000 4372000 17000 0 0 0 0 0 2816000 0 8819000 2816000 0 0 0 0 8819000 2816000 19000 3000 0 0 0 0 19000 3000 8800000 2813000 8800000 2813000 8819000 2816000 -5984000 -3000 0 X false true X true false X X 1 MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) 042103594 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false 2386000 2386000 430000 430000 2816000 0 X Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote MIT REAL ESTATE FOUNDATION, INC. IS A SUBSIDIARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT). MIT REAL ESTATE FOUNDATION, INC.'S FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS WITH MIT. US GAAP REQUIRES MIT TO EVALUATE TAX POSITIONS TAKEN BY THE INSTITUTE TO RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE INSTITUTE HAS TAKEN AN UNCERTAIN TAX POSITION THAT, MORE LIKELY THAN NOT, WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MIT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2023, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN. true MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVE CAMBRIDGE MA 021394307 042103594 501(C)(3) 4323698 PROCEEDS FROM SALE OF CONTRIBUTIONS 1 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE REAL ESTATE FOUNDATION, INC. HOLDS GIFTS OF REAL ESTATE AND OTHER FORMS OF PROPERTY AS A 501(C)(3) AND 509(A)(3) SUPPORTING ORGANIZATION SOLELY FOR THE BENEFIT OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY. false true false false false false false false false Seth Alexander President, Treasurer, and Clerk 0 911111 0 1666438 0 58114 0 425126 0 32317 0 3093106 0 347857 Steven Marsh Assistant Treasurer and Assistant Clerk (Outgoing) 0 636312 0 1881797 0 31885 0 464042 0 23952 0 3037988 0 448791 Patrick Rowe Assistant Treasurer and Assistant Clerk (Incoming) 0 453095 0 671360 0 12717 0 189344 0 3638 0 1330154 0 0 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Employees of the MIT Investment Management Company are eligible for incentive compensation based on the performance of the Institute's investments. A portion of their incentive compensation is paid in an initial calendar year, and the remainder is deferred to being paid in the subsequent calendar year contingent on continued service to MITIMCo through specified dates. Incentive compensation actually paid in calendar year 2022 is reflected in Column B(ii). This includes incentive compensation from prior calendar years for which payment was deferred, contingent on continued service. That amount is listed in Column F. Calendar year 2022 incentive compensation for which payment has been deferred contingent on continued service is included in Column C. Form 990, Part IV, Line 12b Part IV, Line 12 MIT REAL ESTATE FOUNDATION, INC. IS A SUBSIDIARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT). MIT REAL ESTATE FOUNDATION, INC.'S FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS WITH MIT. Form 990, Part VI, Line 12a LINES 12-14 BARRING SPECIFIC CORPORATE ACTION TO THE CONTRARY, MIT REAL ESTATE FOUNDATION, INC. FOLLOWS APPLICABLE WRITTEN POLICIES AND PROCEDURES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY. Form 990, Part VI, Line 6 Classes of members or stockholders THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY IS THE SOLE MEMBER OF MIT REAL ESTATE FOUNDATION, INC. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY HAS THE RIGHT TO ELECT MEMBERS OF THE GOVERNING BODY. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders IN ADDITION TO THE RIGHT TO ELECT BOARD MEMBERS AS DESCRIBED IN RESPONSE TO LINE 7A, THE SOLE MEMBER SHALL HAVE SUCH OTHER POWERS RESERVED TO THE MEMBER BY LAW, THE ARTICLES OF ORGANIZATION OR THE BYLAWS. Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body THERE ARE NO SUCH COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. Form 990, Part VI, Line 11b Review of form 990 by governing body MIT REAL ESTATE FOUNDATION, INC'S OFFICER RESPONSIBLE FOR TAX MATTERS REVIEWS THE FORM 990 FOR ACCURACY AND COMPLETENESS. Form 990, Part VI, Line 19 Required documents available to the public AS AN ENTITY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), ALL OF MIT REAL ESTATE FOUNDATION, INC.'S POLICIES AND PROCEDURES ARE DICTATED BY THE POLICIES AND PROCEDURES OF MIT. MIT'S CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE ON MIT'S WEBSITE HTTP://WEB.MIT.EDU. GOVERNING DOCUMENTS FOR MIT REAL ESTATE FOUNDATION, INC. ARE AVAILABLE UPON REQUEST. Form 990, Part XII, Line 1 CHANGE OF ACCOUNTING METHOD OR OTHER TYPE OF ACCOUNTING METHOD MIT REAL ESTATE FOUNDATION, INC. USES THE CASH MODIFIED METHOD AND DOES NOT USE ACCRUAL BASIS AS ACCRUED EXPENSES CAN NOT BE ESTIMATED AND ARE ALSO NOT MATERIAL. FIDGAD ONE BROADWAY SUITE 09-200 CAMBRIDGE MA 02142 043397800 REAL ESTATE DE 0 1847000 MIT REAL ESTATE FOUNDATION INC MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE NE49-3142 CAMBRIDGE MA 02139 042103594 EDUCATION MA 501(c)(3) 2 NA false false true false false false false false false false false false false false false false false false false false