2024-05-15T19:39:03+00:00 2023-06-30 990 2022-07-01 042103594 Massachusetts Institute of Technology MASS 6172532734 77 Massachusetts Avenue NE49-3142 Cambridge MA 021394307 GLEN SHOR EXECUTIVE VP AND TREASURER 6172535614 2024-05-16 GLEN SHOR 999009999 2022 2023-04-26 12:10:37Z SALLY KORNBLUTH 77 MASSACHUSETTS AVENUE Cambridge MA 02139 10296872000 false X http://web.mit.edu X 1861 MA THE MISSION OF MIT IS TO ADVANCE KNOWLEDGE AND EDUCATE STUDENTS IN SCIENCE, TECHNOLOGY, AND OTHER AREAS OF SCHOLARSHIP THAT WILL BEST SERVE THE NATION AND THE WORLD IN THE 21ST CENTURY. 13 10 27330 14858 94546000 5232381 1252909000 1094476000 2585121000 2700061000 2417553000 1011206000 123067000 148790000 6378650000 4954533000 745549000 636241000 0 0 2013657000 2313040000 253000 383000 59109000 1781161000 1951908000 4540620000 4901572000 1838030000 52961000 39839201000 38587698000 6636362000 6425209000 33202839000 32162489000 THE MISSION OF MIT IS TO ADVANCE KNOWLEDGE AND EDUCATE STUDENTS IN SCIENCE, TECHNOLOGY, AND OTHER AREAS OF SCHOLARSHIP THAT WILL BEST SERVE THE NATION AND THE WORLD IN THE 21ST CENTURY. false false 1752891000 0 1732492000 SPONSORED RESEARCH: MIT'S CAMBRIDGE, MA CAMPUS PROVIDES A FERTILE SETTING FOR RESEARCH THAT HAS SPAWNED A HOST OF SCIENTIFIC BREAKTHROUGHS AND TECHNOLOGICAL ADVANCES. PRIMARILY SPONSORED BY FEDERAL GRANTS AND CONTRACTS, RESEARCH AT MIT AIMS TO DEVELOP INNOVATIVE SOLUTIONS TO THE WORLD'S MOST DAUNTING CHALLENGES. FROM ADDRESSING THE ENERGY NEEDS OF TOMORROW TO IMPROVING CANCER THERAPIES AND MORE, MIT'S RESEARCH EFFORTS ARE ENHANCED THROUGH CREATIVE COLLABORATIONS IN INTERDISCIPLINARY LABS AND WITH LEADING RESEARCH INSTITUTES AND CONSORTIA AROUND THE WORLD. 1552275000 106412000 967569000 INSTRUCTION, UNSPONSORED RESEARCH, AND OTHER: MIT IS COMMITTED TO PROVIDING A WORLD-CLASS EDUCATION TO OUR APPROXIMATELY 4,700 UNDERGRADUATES AND APPROXIMATELY 7,200 GRADUATE STUDENTS. THE FOCUS OF INSTRUCTION IS NOT ONLY SCIENTIFIC AND TECHNICAL, BUT INCLUDES A STRONG HUMANITIES COMPONENT AND EMPHASIZES CREATIVE PROBLEM SOLVING. MIT'S SIX SCHOOLS AND COLLEGES (SCIENCE; ENGINEERING; HUMANITIES, ARTS & SOCIAL SCIENCES; ARCHITECTURE & PLANNING; MANAGEMENT; AND COMPUTING) CREATE THE FOUNDATION OF A RIGOROUS MIT EDUCATION, WHICH IS HEIGHTENED BY SERVICE TO COMMUNITIES AROUND THE WORLD. OTHER EXPENDITURES (INCLUDING GRANTS) INCURRED, AND REVENUES GENERATED IN CONNECTION WITH MIT'S OTHER PROGRAM SERVICES RELATED TO VARIOUS ACTIVITIES IN FURTHERANCE OF AND IN SUPPORT OF MIT'S EXEMPT MISSION INCLUDED BUT WERE NOT LIMITED TO SUCH THINGS AS FEES AND SERVICES (FOR EXAMPLE, MEDICAL DEPARTMENT, TECHNOLOGY LICENSING OFFICE), AUXILIARY ENTERPRISES (FOR EXAMPLE, HOUSING, DINING), AND OTHER MISCELLANEOUS PROGRAM SERVICE REVENUE. 529829000 529829000 0 SCHOLARSHIPS AND FELLOWSHIPS: MIT'S UNDERGRADUATE FINANCIAL AID PROGRAM ENSURES THAT AN MIT EDUCATION IS ACCESSIBLE TO ALL QUALIFIED CANDIDATES REGARDLESS OF THEIR FINANCIAL RESOURCES. MIT REMAINS DEDICATED TO PROVIDING FINANCIAL AID TO MEET THE FULL COST OF AN MIT EDUCATION, BASED ON THE NEEDS OF THE FAMILY. IN 2022-2023, APPROXIMATELY 58% OF ALL UNDERGRADUATES RECEIVED SOME TYPE OF NEED-BASED FINANCIAL AID FROM MIT. 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MIT'S EFFORTS REGARDING LEGISLATIVE AND RELATED ACTIVITIES IN FY 2023 FOCUSED ON THE AREAS OF LEGISLATION, POLICY AND FUNDING SUPPORT FOR SCIENCE, TECHNOLOGY, EDUCATION, LAND USE AND TAXATION. STAFF ACTIVITIES INCLUDED THE GATHERING AND DISSEMINATION OF INFORMATION TO THE MIT CAMPUS CONCERNING GOVERNMENT ACTIVITIES AND ACTIONS, AS WELL AS MEETINGS AND DISCUSSIONS WITH FEDERAL AND STATE OFFICIALS, ON THE ABOVE ISSUES. LINE 1I MIT PAYS DUES AND IS A MEMBER OF SEVERAL ASSOCIATIONS THAT PROVIDE INFORMATION TO THE HIGHER EDUCATION COMMUNITY AS WELL AS ADVOCATE FOR ISSUES THAT ARE IMPORTANT TO THE SECTOR. A PORTION OF THE DUES PAID TO THESE ORGANIZATIONS MAY BE USED TO LOBBY BY THE ASSOCIATIONS. 17 3584576 2773316 70244600 true true 200000 X X X false 24739862000 231362000 -209541000 233933000 859348000 52996000 23615406000 27496309000 301237000 -2161602000 173381000 661164000 61537000 24739862000 18465010000 191772000 9643184000 153816000 595290000 54551000 27496309000 17545703000 120011000 1569985000 150283000 585969000 34437000 18465010000 16507029000 321260000 1454555000 138821000 558037000 40283000 17545703000 0.2885 0.1772 0.5343 false false 119063000 119063000 6723227000 2297470000 4425757000 112983000 412000 112571000 476352000 158046000 318306000 4975697000 FIXED INCOME 1505108000 F EQUITIES 15145669000 F ABSOLUTE RETURN 4671478000 F REAL ESTATE & REAL ASSETS 5249656000 F SPLIT INTEREST AGREEMENTS 81355000 F OTHER 11058000 F DERIVATIVES -842000 F 26663482000 OTHER CREDITS 269768000 GOVERNMENT ADVANCES 7343000 LIABILITIES DUE UNDER LIFE INCOME FUND AGREEMENTS 265640000 OPERATING LEASE OBLIGATION 215577000 758328000 X Schedule D, Part III, Line 1a FINANCIAL STATEMENT FOOTNOTE AS NOTED IN MIT'S AUDITED FINANCIAL STATEMENTS, MIT RECORDS ITEMS OF COLLECTIONS AS A GIFT AT NOMINAL VALUE. THEY ARE RECEIVED FOR EDUCATIONAL PURPOSES AND GENERALLY DISPLAYED THROUGHOUT MIT. IN GENERAL, COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. Schedule D, Part III, Line 4 Collections of art - description of collections MIT DOES NOT RECOGNIZE DONATED WORKS OF ART, HISTORICAL TREASURES, AND SIMILAR ASSETS IN THE FINANCIAL STATEMENTS IF THEY ARE PART OF A COLLECTION. ITEMS THAT ARE PART OF A COLLECTION ARE RECEIVED FOR EDUCATIONAL PURPOSES, AND MOST ARE DISPLAYED THROUGHOUT MIT. IN GENERAL, COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. Schedule D, Part V, Line 4 Intended uses of endowment funds MIT'S ENDOWMENT IS INTENDED TO PROVIDE FINANCIAL SUPPORT TO FURTHER MIT'S MISSION OF EDUCATION AND RESEARCH. SPECIFICALLY, MIT'S ENDOWMENT PROVIDES ONGOING SUPPORT FOR UNDERGRADUATE STUDENT SCHOLARSHIPS, GRADUATE FELLOWSHIPS, PROFESSORSHIPS, RESEARCH, THE MAINTENANCE OF MIT'S FACILITIES, AND ACADEMIC DEPARTMENT SUPPORT. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote 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 true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY MIT'S PROSPECTIVE STUDENTS CAN FIND THE INSTITUTE'S RACIALLY NONDISCRIMINATORY POLICY AT ANY TIME DURING THE ADMISSION PROCESS AND THROUGHOUT THE ENTIRE ACADEMIC YEAR AT https://mitadmissions.org/policies/#nondiscrimination and https://oge.mit.edu/graduate-admissions/applications/. MIT'S RACIALLY NONDISCRIMINATORY POLICY FOR THE GENERAL COMMUNITY CAN BE FOUND IN MIT'S POLICIES S 9.3 OR CAN BE FOUND ON THE INSTITUTE'S WEBSITE AT https://policies.mit.edu/policies-procedures/. THE INSTITUTE CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE AND WORLDWIDE AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY. THE INSTITUTE ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN SUBSTANTIAL NUMBERS. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT MIT RECEIVES PELL, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY AND PERKINS LOANS. Schedule E, Part I, Line 2 RACIALLY NONDISCRIMINATORY POLICY MIT INCLUDES A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY TOWARD STUDENTS IN VARIOUS BROCHURES AND CATALOGUES. WHILE THE STATEMENT IS NOT INCLUDED ON ALL WRITTEN COMMUNICATIONS WITH THE PUBLIC DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS, THE POLICY IS WELL PUBLICIZED AND WELL KNOWN. true Central America and the Caribbean Program Services Subrecipient Agreements 777990 East Asia and the Pacific Program Services Subrecipient Agreements 3457366 Europe (Including Iceland and Greenland) Program Services Subrecipient Agreements 2342018 Middle East and North Africa Program Services Subrecipient Agreements 549310 North America (Canada & Mexico only) Program Services Subrecipient Agreements 7626719 South America Program Services Subrecipient Agreements 636236 South Asia Program Services Subrecipient Agreements 2158316 Sub-Saharan Africa Program Services Subrecipient Agreements 743165 Central America and the Caribbean Grantmaking 35730 East Asia and the Pacific Grantmaking 600467 Europe (Including Iceland and Greenland) Grantmaking 1530865 Middle East and North Africa Grantmaking 339084 North America (Canada & Mexico only) Grantmaking 166825 Russia and Neighboring States Grantmaking 174859 South America Grantmaking 316803 South Asia Grantmaking 210916 Sub-Saharan Africa Grantmaking 357077 East Asia and the Pacific Fundraising 1105270 Europe (Including Iceland and Greenland) Fundraising 909537 Middle East and North Africa Fundraising 78643 North America (Canada & Mexico only) Fundraising 47378 South America Fundraising 92402 South Asia Fundraising 75341 Sub-Saharan Africa Fundraising 5714 Central America and the Caribbean Program Services Education/Research 130372 East Asia and the Pacific 1 60 Program Services Education/Research 9642481 Europe (Including Iceland and Greenland) 168 Program Services Education/Research 19333129 Middle East and North Africa 19 Program Services Education/Research 1874165 North America (Canada & Mexico only) 21 Program Services Education/Research 2405879 Russia and Neighboring States 1 Program Services Education/Research 36570 South America 1 11 Program Services Education/Research 866452 South Asia 4 Program Services Education/Research 624418 Sub-Saharan Africa 6 Program Services Education/Research 794227 Central America and the Caribbean Investments 1639608839 East Asia and the Pacific Investments 148024902 Europe (Including Iceland and Greenland) Investments 39853934 Sub-Saharan Africa Investments 26805119 South Asia Investments 1214941524 0 0 2 290 2 290 21666669 3107613373 3129280042 Public Service Center Grants Central America and the Caribbean 3 23500 Check or Electronic Fund Transfer Public Service Center Grants East Asia and the Pacific 3 14500 Check or Electronic Fund Transfer Public Service Center Grants Europe (Including Iceland and Greenland) 3 13000 Check or Electronic Fund Transfer Public Service Center Grants Middle East and North Africa 1 2500 Check or Electronic Fund Transfer Public Service Center Grants North America (Canada & Mexico only) 2 9500 Check or Electronic Fund Transfer Public Service Center Grants South America 4 13000 Check or Electronic Fund Transfer Public Service Center Grants South Asia 4 6500 Check or Electronic Fund Transfer Public Service Center Grants Sub-Saharan Africa 9 47500 Check or Electronic Fund Transfer MISTI Stipends East Asia and the Pacific 115 481580 Check or Electronic Fund Transfer MISTI Stipends Europe (Including Iceland and Greenland) 490 1397834 Check or Electronic Fund Transfer MISTI Stipends Middle East and North Africa 136 320034 Check or Electronic Fund Transfer MISTI Stipends North America (Canada & Mexico only) 32 95291 Check or Electronic Fund Transfer MISTI Stipends Russia and Neighboring States 36 169219 Check or Electronic Fund Transfer MISTI Stipends South America 63 279200 Check or Electronic Fund Transfer MISTI Stipends South Asia 46 148693 Check or Electronic Fund Transfer MISTI Stipends Sub-Saharan Africa 79 298957 Check or Electronic Fund Transfer Fellowships Central America and the Caribbean 12 10930 Check or Electronic Fund Transfer Fellowships East Asia and the Pacific 20 44635 Check or Electronic Fund Transfer Fellowships Europe (Including Iceland and Greenland) 10 14538 Check or Electronic Fund Transfer Fellowships North America (Canada & Mexico only) 6 7990 Check or Electronic Fund Transfer Fellowships Russia and Neighboring States 3 3540 Check or Electronic Fund Transfer Fellowships South America 13 16430 Check or Electronic Fund Transfer Fellowships South Asia 11 32109 Check or Electronic Fund Transfer Fellowships Sub-Saharan Africa 9 10620 Check or Electronic Fund Transfer Prizes & Awards Central America and the Caribbean 1 1300 Check or Electronic Fund Transfer Prizes & Awards East Asia and the Pacific 55 43822 Check or Electronic Fund Transfer Prizes & Awards Europe (Including Iceland and Greenland) 27 34086 Check or Electronic Fund Transfer Prizes & Awards Middle East and North Africa 1 2000 Check or Electronic Fund Transfer Prizes & Awards North America (Canada & Mexico only) 21 13529 Check or Electronic Fund Transfer Prizes & Awards Russia and Neighboring States 2 2100 Check or Electronic Fund Transfer Prizes & Awards South America 6 3773 Check or Electronic Fund Transfer Prizes & Awards South Asia 18 10714 Check or Electronic Fund Transfer Honoraria East Asia and the Pacific 9 15929 Check or Electronic Fund Transfer Honoraria Europe (Including Iceland and Greenland) 35 71407 Check or Electronic Fund Transfer Honoraria Middle East and North Africa 6 14550 Check or Electronic Fund Transfer Honoraria North America (Canada & Mexico only) 22 37016 Check or Electronic Fund Transfer Honoraria South America 2 4400 Check or Electronic Fund Transfer Honoraria South Asia 3 12900 Check or Electronic Fund Transfer Grant North America (Canada & Mexico only) 1 3500 Check or Electronic Fund Transfer true true true true true true Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds MIT PROVIDES SEVERAL TYPES OF GRANTS AND ASSISTANCE TO FOREIGN INDIVIDUALS. FOR PRIZES AND AWARDS, THE INDIVIDUAL MUST HAVE MET THE SPECIFIC CRITERIA FOR THE PARTICULAR PRIZE OR AWARD TO BE SELECTED. IN THE CASE OF FELLOWSHIPS, THE INDIVIDUAL IS REQUIRED TO UTILIZE THE FUNDS FOR RESEARCH AND STUDY AT THE INSTITUTE. GRANTS ARE MADE IN THE CONTEXT OF ACADEMIC OR RESEARCH PROGRAMS: RECIPIENTS SPEND THEIR GRANT FUNDS UNDER THE SUPERVISION OF THE PROGRAM AND ARE ACCOUNTABLE THROUGH THE PROGRAM FOR THE USE OF THE FUNDS. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; RUSSIA AND NEIGHBORING STATES-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part III Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN -Accrual EAST ASIA AND THE PACIFIC -Accrual EUROPE (INCLUDING ICELAND AND GREENLAND) -Accrual MIDDLE EAST AND NORTH AFRICA -Accrual NORTH AMERICA (CANADA & MEXICO ONLY) -Accrual RUSSIA AND NEIGHBORING STATES -Accrual SOUTH AMERICA -Accrual SOUTH ASIA -Accrual SUB-SAHARAN AFRICA -Accrual X X X X X X true Rootstock Philanthropy 23 Bittersweet Lane Cumberland Center ME 04021 Fundraising Consulting false 180000 -180000 West Wind Consulting 120 Brindley 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DC 20009 237413005 501(c)(3) 100000 Grant Foundation for Learning Equality 9700 Gilman Dr PMB 323 La Jolla CA 92093 462676188 501(c)(3) 10000 Grant Gemini Energy Solutions 910 17th St NW Ste 318 Washington DC 20006 814272537 10000 Grant Grassroots Indigenous Multimedia 11217 Blue Heron Ln Hayward WI 54843 411962329 501(c)(3) 10000 Grant Grinding Stone Collective Inc 8255 88th Lane 2 Glendale NY 11385 863022293 10000 Grant Healthy Mothers Healthy Babies Coal 245 N Kukui St Ste 102A Honolulu HI 96817 990299264 501(c)(3) 37000 Grant Jaylas Dream 123 Sharpfish St Box 726 Rosebud SD 57570 472903816 501(c)(3) 10000 Grant Joegaddy Systems 133 E Fort Lowell Rd Apt M Tucson AZ 85719 921028066 10000 Grant Kanenhiio Ionkwaienthos 102 1/2 Concord Pl Syracuse NY 13210 851101586 501(c)(3) 10000 Grant Kidogo Early Years Inc 2443 Fillmore St 380-17448 San Francisco CA 94116 472471232 501(c)(3) 35000 Grant Kwu Cnxi PO Box 191 Usk WA 99180 873881234 501(c)(3) 10000 Grant MedHaul Inc 150 Peabody Place Ste D123 Memphis TN 38103 821413512 50000 Grant Myna Mahila USA Inc 3200 Zanker Rd 1362 San Jose CA 95134 842615139 35000 Grant Pie for Providers Ltd 4813 N Seeley Ave Chicago IL 60625 852587281 501(c)(3) 10000 Grant Quantitative Engineering Design 30 N Gould St Ste 2031 Sheridan WY 82801 900869374 100000 Grant SameSame Inc 3647 Broadway Apt 2H New York NY 10031 352723295 60000 Grant Shimmy Technologies Group Inc 19 Morris Ave Brooklyn NY 11205 364863487 120000 Grant Social Cipher Inc 7386 Tyler Lane Fontana CA 92336 851140752 10000 Grant Speetar Inc 1209 N Orange ST Wilmington DE 19801 364970061 62000 Grant Tarjimly Inc 301 Green Acres Dr Murphy TX 75094 831030107 501(c)(3) 85000 Grant The Hack Foundation PO Box 1658 Highlands NC 28741 581802331 501(c)(3) 20000 Grant The Okoa Project PO Box 812843 Wellesley MA 02482 831826096 501(c)(3) 10000 Grant The Steam Connection 330 E Maple Rd Ste B Troy MI 48083 852936182 501(c)(3) 10000 Grant Third Sector New England 89 South Streetste 700 Boston MA 02111 042261109 501(c)(3) 60000 Grant US Good Business Lab Foundation 701 Tappan Street R4344 Ann Arbor MI 481091234 824402496 501(c)(3) 120000 Grant Waking Women Healing Institute 1499 Main St Po Box 76 Gresham WI 54128 861765304 10000 Grant We Care Solar Inc 2140 Shattuck Ave Ste 305 Berkeley CA 94704 300627106 501(c)(3) 10000 Grant Whiteswan Environmental WE 2348 Lummi View Dr Bellingham WA 98260 824293428 501(c)(3) 10000 Grant Detoxyfi Inc 125 Western Avenue Allston MA 02134 883281701 10000 Prize Mesophase 16 Chatham Street Apartment 1 Cambridge MA 02139 881980269 20000 Prize Ultropia Corporation 10015 Lake Cirty Way Ne Dept 207 Seattle WA 98125 872409787 100000 Prize Harmony Desalination Corporation 6 Hardwick Street Cambridge MA 02141 883331758 7500 Prize Vizzhy Inc 2918 Black Gold Bnd Cedar Park TX 78613 871592107 6000 Prize Mayo Clinic 201 1st St S Rochester MN 55905 416011702 501(c)(3) 50000 Distribution from Donor-Advised Fund/Charitable Contribution Catholic Charities of Fairfield County Inc 238 Jewett Ave Bridgeport CT 66062 060653053 501(c)(3) 50000 Distribution from Donor-Advised Fund/Charitable Contribution Kuza Project 203 W Franklin Ave Naperville IL 60540 311829934 501(c)(3) 10000 Distribution from Donor-Advised Fund/Charitable Contribution Foundation for Individual Rights and Expression (FIRE) 510 Walnut Street NO 1250 Philadelphia PA 19106 043467254 501(c)(3) 50000 Distribution from Donor-Advised Fund/Charitable Contribution Heterodox Academy 82 Nassau Street 646 New York NY 10038 822903153 501(c)(3) 50000 Distribution from Donor-Advised Fund/Charitable Contribution Technology Review Inc One Main Street 13th Floor Cambridge MA 02142 954893200 501(c)(3) 4211734 Contribution MIT International Inc 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 812731492 501(c)(3) 973000 Contribution 48 49 Tuition Support 6638 529829000 MIT Student Fellowship Stipends 4080 68699209 Non MIT Student Fellowship Stipends 537 17068934 Honoraria 1893 1480634 Prizes and Awards 1589 2051589 Public Service Center Grants 129 407950 External Grants 117 330050 HEERF Grants 224 193038 Schedule I, Part II DONOR ADVISED FUNDS PER SCHEDULE I INSTRUCTIONS, MIT HAS INCLUDED DONATIONS FROM DONOR-ADVISED FUNDS (DAF) THAT EXCEEDED THE MINIMUM REPORTING THRESHOLD. IN TOTAL, MIT REPORTED FIVE IRC 501(C)(3) CHARITABLE ORGANIZATIONS THAT RECEIVED DONATIONS FROM MIT THROUGH THESE DAF. AS WITH ANY DAF, DISTRIBUTIONS MADE FROM THE FUND ARE TYPICALLY MADE AT THE RECOMMENDATION OF THE DONOR ADVISOR AND MUST BE MADE TO AN IRC 501(C)(3) CHARITABLE ORGANIZATION. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. MIT PROVIDES SEVERAL TYPES OF GRANTS AND ASSISTANCE TO INDIVIDUALS AND ORGANIZATIONS. FOR PRIZES AND AWARDS, THE INDIVIDUAL OR ORGANIZATION MUST HAVE MET THE SPECIFIC CRITERIA TO BE SELECTED FOR THE PRIZE OR AWARD. IN THE CASE OF FELLOWSHIPS AND SCHOLARSHIPS, THE INDIVIDUAL IS REQUIRED TO UTILIZE THE FUNDS FOR RESEARCH AND STUDY AT MIT. MIT MAKES GRANTS TO SEVERAL LOCAL CHAPTERS OF NATIONAL FRATERNITIES, SORORITIES AND INDEPENDENT LIVING GROUPS. THESE ORGANIZATIONS ARE COMPRISED OF MIT STUDENTS, AND HOUSE THESE STUDENTS. GRANTS ARE MADE TO SUPPORT THE OPERATIONAL COSTS OF THE EDUCATIONAL PURPOSES OF THE HOUSES (SO THAT THE HOUSES STAY CONSISTENT WITH MIT'S MISSION). IN ORDER FOR AN ORGANIZATION TO RECEIVE AN INDEPENDENT RESIDENCE DEVELOPMENT FUND (IRDF) GRANT, THEY MUST GO THROUGH A RIGOROUS APPLICATION PROCESS. PROCEDURES OF THE INSTITUTE WITH RESPECT TO ADMISSIONS, SCHOLARSHIPS, FELLOWSHIPS, AND STUDENT LOANS ARE PUBLICIZED IN THE INSTITUTE BULLETIN WHICH CONSTITUTES ITS CATALOGUE. FOR GRANTS THAT ARE MADE IN THE CONTEXT OF ACADEMIC OR RESEARCH PROGRAMS, RECIPIENTS SPEND THEIR GRANT FUNDS UNDER THE SUPERVISION OF THE PROGRAM AND ARE ACCOUNTABLE THROUGH THE PROGRAM FOR THE USE OF THE FUNDS. MIT MAY MAKE DISBURSEMENTS TO INDIVIDUALS OR ORGANIZATIONS FOR CHARITABLE PURPOSES INCLUDING SMALL GRANTS TO LOCALLY BASED CHARITABLE ORGANIZATIONS FOR THE PURPOSE OF FOSTERING BETTER COMMUNITY RELATIONS. IN ADDITION, MIT OFFERS OTHER ASSISTANCE FOR HARDSHIPS, INCLUDING COVID RELATED EXPENSES, TO INDIVIDUALS THAT MEET PRE-ESTABLISHED CRITERIA. X X X X X true true X X X X X false true false false false false false true false L Rafael Reif President (Outgoing) 1239341 0 0 0 88230 0 365250 0 152989 0 1845810 0 0 0 Glen Shor Executive VP and Treasurer 756890 0 0 0 39000 0 36085 0 32158 0 864133 0 0 0 Suzanne L Glassburn Vice President and Secretary 413307 0 10000 0 8460 0 48800 0 32066 0 512633 0 0 0 Sanjay Sarma Professor (Former VP for Open Learning) 479874 0 0 0 35187 0 39650 0 90642 0 645353 0 0 0 Martin Schmidt Former Provost 324774 0 0 0 42606 0 61000 0 15211 0 443591 0 0 0 Seth Alexander President of MITIMCo 911111 0 1666438 0 58114 0 425126 0 32317 0 3093106 0 347857 0 Cynthia Barnhart Provost 810308 0 0 0 22849 0 15250 0 2385 0 850792 0 0 0 Mark DiVincenzo VP and General Counsel 702682 0 0 0 32898 0 48800 0 31756 0 816136 0 0 0 Eric Evans Director of Lincoln Laboratory 693563 0 0 0 31902 0 54900 0 30860 0 811225 0 0 0 W Eric Grimson Interim VP for Open Learning 493400 0 0 0 15644 0 15250 0 23114 0 547408 0 0 0 Alfred Ironside VP for Communications 430087 0 0 0 12314 0 37243 0 31316 0 510960 0 0 0 Julie Lucas VP for Resource Development 611845 0 0 0 28295 0 36085 0 10637 0 686862 0 0 0 Melissa Nobles Chancellor 555816 0 0 0 28825 0 48800 0 23199 0 656640 0 0 0 Maria Zuber VP for Research 525932 0 0 0 22250 0 15250 0 22453 0 585885 0 0 0 Ryan Akkina Global Investment Professional - MITIMCo 448657 0 1525730 0 14671 0 366567 0 35939 0 2391564 0 337750 0 Joel Cohen Global Investment Professional, MITIMCo 428018 0 1375080 0 11601 0 364950 0 31788 0 2211437 0 0 0 Steven Marsh Senior VP - MITIMCo 636312 0 1881797 0 31885 0 464042 0 23952 0 3037988 0 448791 0 Emma Somers-Roy Global Investment Professional - MITIMCo 425267 0 1403065 0 7090 0 370363 0 34551 0 2240336 0 368750 0 Thomas Wieand Global Investment Professional - MITIMCo 477921 0 1527939 0 17315 0 402300 0 30580 0 2456055 0 368750 0 Schedule J, Part I, Line 1a First-class or charter travel MIT ALLOWS BUSINESS/FIRST CLASS TRAVEL AND COMPANION TRAVEL PURSUANT TO GUIDELINES INCLUDED IN A WRITTEN TRAVEL POLICY. ALL MIT EMPLOYEES, INCLUDING OFFICERS, TRUSTEES, KEY EMPLOYEES AND HIGHLY COMPENSATED INDIVIDUALS, ARE SUBJECT TO THE SAME WRITTEN TRAVEL POLICY. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments ONE OF THE INDIVIDUALS DISCLOSED IN SCHEDULE J RECEIVES LIMITED TAX INDEMNIFICATION AND GROSS UP PAYMENTS. ALL TAX INDEMNIFICATION AND GROSS UP PAYMENTS ARE PURSUANT TO A WRITTEN EMPLOYMENT AGREEMENT. Schedule J, Part I, Line 1a Housing allowance or residence for personal use THE MIT PRESIDENT IS REQUIRED TO LIVE IN AN MIT OWNED CAMPUS RESIDENCE AS A CONDITION OF EMPLOYMENT AND AS A CONVENIENCE TO MIT. IRS RULES REQUIRE MIT TO ESTIMATE A VALUE FOR SUCH USE AND TO INCLUDE THE VALUE IN THE PRESIDENT'S TOTAL COMPENSATION AS A "NONTAXABLE BENEFIT" (SCHEDULE J, PART II, COLUMN (D)). AS CALCULATED PURSUANT TO IRS RULES, THE ESTIMATED VALUE IS $130,800 FOR PRESIDENT REIF IN CALENDAR YEAR 2022. Schedule J, Part I, Line 1a Personal services MIT PAYS FOR HOUSEKEEPING OF THE PUBLIC AREAS OF THE PRESIDENT'S HOUSE. FOR THE EXPENSES RELATED TO HOUSEKEEPING SERVICES FOR THE PORTION OF THE MIT OWNED RESIDENCE USED BY THE PRESIDENT'S FAMILY AS THEIR PRIVATE RESIDENCE, MIT INCLUDES THE AMOUNT IN THE PRESIDENT'S TAXABLE INCOME. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan MIT maintains a deferred compensation account for President Reif. Under the terms of the plan, $350,000 was credited to the account in calendar year 2022. This amount is reflected in Schedule J, Part II, Column C. This amount is a credit only and is subject to vesting requirements. President Reif did not receive any payments from the account during the year. 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. Schedule J, Part I, Line 7 Non-fixed payments THE MIT INVESTMENT MANAGEMENT COMPANY PAYS CERTAIN EMPLOYEES NON-FIXED AMOUNTS PURSUANT TO AN INCENTIVE COMPENSATION PROGRAM THAT BASES COMPENSATION PAYMENTS ON A NUMBER OF FACTORS. THE PRIMARY BASIS FOR INCENTIVE COMPENSATION PAYMENTS IS THE PERFORMANCE OF MIT'S ENDOWMENT RELATIVE TO PEER AND MARKET BENCHMARKS. THIS IS A COMMON PRACTICE IN HIGHER ED ENDOWMENT MANAGEMENT. IN OTHER INSTANCES, MIT MAY OFFER OTHER EMPLOYEES BONUS PAYMENTS FOR OUTSTANDING PERFORMANCE FROM TIME TO TIME. Schedule J, Part II FORM 990, PART VII, SECTION A THE INDIVIDUALS DISCLOSED IN PART VII OF FORM 990 OFTEN DEVOTE MORE HOURS TO THEIR POSITION THAN THE NUMBER OF HOURS LISTED, WHICH REPRESENT ESTIMATES OF AVERAGE HOURS. INDIVIDUALS WHO ARE ALSO ON THE BOARDS OF MIT'S SUBSIDIARIES AND RELATED ORGANIZATIONS WORK ADDITIONAL HOURS PER WEEK AS LISTED IN COLUMN (B) OF FORM 990, PART VII. Schedule J, Part II Form 990, Part VII, Section A SALLY KORNBLUTH BECAME PRESIDENT ON JANUARY 1, 2023. SHE IS LISTED ON THE FORM 990 BECAUSE SHE OCCUPIED THE ROLE DURING FISCAL YEAR 2023, BUT SHE DID NOT HAVE ANY COMPENSATION TO REPORT FOR CALENDAR YEAR 2022. A MASSACHUSETTS HEALTH & EDUCATIONAL FAC 042456011 57585K3G1 2003-05-07 204790814 CONSTRUCTION/RENOVATION/REFUNDING false false false B MASSACHUSETTS HEALTH & EDUCATIONAL FAC 042456011 57586CBP9 2004-04-02 150854243 CONSTRUCTION AND RENOVATION false false false C Massachusetts Development Finance Agency 043431814 57584YWJ4 2020-01-09 211028108 Construction and renovation false false false A 69190000 0 205361234 0 0 0 1040170 0 0 204321064 0 0 2005 true false true true B 62350000 0 151599210 0 0 0 854243 0 0 150744967 0 0 2005 false false true true C 0 0 211700302 0 0 0 998372 0 0 211207839 0 0 2023 false false true true A false false true true true true 0.011 0.0 0.011 false false true B false false true true true true 0.012 0.0 0.012 false false true C false false true true false 0.0 0.0 0.0 false false true A false true false false false false true B false true false false false false true C false true false false false false true A true B true C true Schedule K, Part II LINE 3 TOTAL PROCEEDS ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I COLUMN (E) DUE TO INVESTMENT EARNINGS. Schedule K, Part III Line 4 PRIVATE BUSINESS USE ADDITIONAL INFORMATION IT IS MIT'S POLICY TO ENSURE THAT ITS MANAGEMENT CONTRACTS FALL WITHIN THE SAFE HARBORS SET FORTH IN REVENUE PROCEDURE 97-13, NOTICE 2014-67, AND REVENUE PROCEDURE 2017-13, AND THAT ITS PRIVATE SPONSORED RESEARCH CONTRACTS FALL WITHIN THE REVENUE PROCEDURE 2007-47'S SAFE HARBOR (TOGETHER, THESE TWO TYPES OF CONTRACTS ARE REFERRED TO IN THIS FORM 990 AS "OUTSIDE CONTRACTS"). THIS POLICY ENSURES THAT IN THE UNLIKELY EVENT THAT PRIVATE BUSINESS USE MIGHT ARISE THAT SUCH USE WILL BE MAINTAINED AT A LEVEL THAT IS BELOW THE 5% SAFE HARBOR OF EACH BOND ISSUE. MIT REGULARLY REVIEWS ITS PROCEDURES IN ORDER TO ENSURE COMPLIANCE WITH ITS PRIVATE BUSINESS USE POLICY. 129654 FELLOWSHIP Education PAMELA EVANS FAMILY MEMBER OF ERIC EVANS, KEY EMPLOYEE 354058 MIT EMPLOYMENT false Jordan Mizerak Family Member of Maria Zuber, Key Employee 177574 MIT Employment false Daniel Lew Family Member of Sally Kornbluth, Director and Officer 109583 MIT Employment false Substantial Contributor Substantial Contributor 196199 Royalty Payments false X 24 NONE X NONE X NONE X 1 9500 Market value X 567 29110801 Market value X 2 449445 Market value X 1 3434 Market value X 1 NONE X Equipment 8 810841 Market value X Archival Records 13 NONE X Digital Assets 1 5596 Market value X Other 6 12500 Market value 4 false true true Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions MIT Real Estate Foundation, Inc.'s primary purpose is to hold and sell gifts of real estate and property for MIT. During fiscal year 2023, MIT used a third party to accept and sell cryptocurrency donations. Schedule M, Part I, Line 33 Noncash contribution amounts not reported MIT does not recognize donated works of art, historical treasures, and similar assets in the financial statements if they are part of a collection. Items that are part of a collection are received for educational purposes, and most are displayed throughout MIT. In general, collections are not disposed of for financial gain or otherwise encumbered in any manner. Form 990, Part VI, Line 1a VOTING MEMBERS THE MIT BYLAWS VEST IN THE EXECUTIVE COMMITTEE OF THE MIT CORPORATION THE RESPONSIBILITY FOR OVERSEEING THE GENERAL ADMINISTRATION AND SUPERINTENDENCE OF ALL MATTERS RELATING TO MIT, INCLUDING ITS EDUCATIONAL AND RESEARCH PROGRAMS, ADMINISTRATION PERFORMANCE, FINANCIAL AFFAIRS, ENDOWMENT, REAL PROPERTY, POLICIES, SYSTEMS, CONTROLS, SPECIAL CONTRACT SERVICES, AND FACULTY TENURE DECISION APPROVAL. THE EXECUTIVE COMMITTEE MEETS NINE OR MORE TIMES EACH YEAR. THE MIT CORPORATION IS A BODY CURRENTLY COMPRISED OF 75 INDIVIDUALS (REFERRED TO AS MEMBERS OF THE CORPORATION), INCLUDING DISTINGUISHED LEADERS IN SCIENCE, ENGINEERING, INDUSTRY, EDUCATION AND PUBLIC SERVICE. CONSISTENT WITH THE MIT BYLAWS, THE CORPORATION MEMBERS ACT AS STEWARDS OF THE PUBLIC TRUST TO PRESERVE MIT'S MISSION. THE CORPORATION MEETS FOUR TIMES EACH YEAR. RECOGNIZING THE SPECIFIC OVERSIGHT RESPONSIBILITY OF THE EXECUTIVE COMMITTEE FOR MIT'S OPERATIONS, MIT TREATS THE EXECUTIVE COMMITTEE AS MIT'S GOVERNING BODY FOR PURPOSES OF RESPONDING TO THE FORM 990. Form 990, Part VI, Line 6 Classes of members or stockholders The MIT Corporation elects the members of MIT's governing body (the Executive Committee of the Corporation), with the exception of the Chair of the MIT Investment Management Company Board of Directors, who is appointed by the Executive Committee. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body The MIT Corporation elects the members of MIT's governing body (the Executive Committee of the Corporation), with the exception of the Chair of the MIT Investment Management Company Board of Directors, who is appointed by the Executive Committee. Form 990, Part VI, Line 11b Review of form 990 by governing body MIT'S OFFICERS RESPONSIBLE FOR MIT'S TAX MATTERS PREPARE MIT'S FORM 990 WITH EXTENSIVE ASSISTANCE FROM MIT'S ACADEMIC AND ADMINISTRATIVE UNITS. SENIOR MIT OFFICERS THEN REVIEW THE FORM 990. FOLLOWING THAT REVIEW AND BEFORE THE FORM 990 IS FILED, MIT'S RISK AND AUDIT COMMITTEE AND EXECUTIVE COMMITTEE (MIT'S GOVERNING BODY) ARE PROVIDED WITH THE FORM AND RELATED SCHEDULES FOR THEIR REVIEW AND COMMENT. Form 990, Part VI, Line 12c Conflict of interest policy MONITORING AND ENFORCING COMPLIANCE WITH CONFLICT OF INTEREST POLICIES DISCLOSURE: MIT HAS TWO PRIMARY CONFLICT OF INTEREST POLICIES - THE POLICY CONCERNING AVOIDANCE OF CONFLICTS OF INTEREST WHICH COVERS ALL INDIVIDUALS SERVING ON THE MIT EXECUTIVE COMMITTEE (MIT'S GOVERNING BODY) AND CORPORATION, AND THE SECTION OF MIT'S POLICIES AND PROCEDURES TITLED CONFLICT OF INTEREST, WHICH IS GENERALLY APPLICABLE TO ALL MEMBERS OF THE MIT COMMUNITY. ANNUAL DISCLOSURE BOTH POLICIES REQUIRE THAT COVERED INDIVIDUALS ANNUALLY ACKNOWLEDGE IN WRITING THAT THEY ARE AWARE OF THE POLICY AND IDENTIFY ANY RELATIONSHIPS OR RESPONSIBILITIES THAT HAVE THE POTENTIAL OF PRODUCING CONFLICTS OF INTEREST. EACH YEAR, DISCLOSURE FORMS ARE DISTRIBUTED TO THOSE COVERED BY THESE POLICIES. IF A RESPONSE REVEALS A CONFLICT OR POTENTIAL CONFLICT, SUCH CONFLICT IS REFERRED TO THE APPROPRIATE INDIVIDUAL OR BODY FOR CONSIDERATION AND MANAGEMENT. AD HOC DISCLOSURE IN ADDITION TO THE ANNUAL DISCLOSURE PROCESS, POTENTIAL CONFLICTS OF INTEREST OF INDIVIDUALS SERVING ON THE MIT EXECUTIVE COMMITTEE, ON THE CORPORATION OR AS OFFICERS, ARE RAISED, CONSIDERED AND ADDRESSED ON AN AD HOC BASIS. UNDER THE POLICY CONCERNING AVOIDANCE OF CONFLICTS OF INTEREST, IF A MATTER COMES BEFORE THE CORPORATION OR EXECUTIVE COMMITTEE THAT INVOLVES A PERSONAL OR BUSINESS OR OTHER FINANCIAL INTEREST OF A MEMBER OR OFFICER OF THE CORPORATION OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY, THE INDIVIDUAL IS REQUIRED TO DISCLOSE THE INTEREST, REFRAIN FROM PARTICIPATING IN THE DISCUSSION OF THE MATTER (EXCEPT AS NECESSARY TO ANSWER QUESTIONS ASKED BY THE OTHER CORPORATION OR EXECUTIVE COMMITTEE MEMBERS) AND REFRAIN FROM VOTING AND BEING PRESENT WHEN THE VOTE IS TAKEN. IF THE MATTER INVOLVES ONGOING DECISION MAKING OR INVOLVEMENT, THE CORPORATION OR EXECUTIVE COMMITTEE CONTINUES TO MONITOR AND MANAGE THE CONFLICT. WITH RESPECT TO OFFICERS, MIT RELIES UPON A COMBINATION OF THE ANNUAL DISCLOSURES, THE OFFICERS' OBLIGATIONS TO DEVOTE THEIR FULL TIME AND EFFORT TO THE INSTITUTE, THE OFFICERS' FIDUCIARY OBLIGATION TO THE INSTITUTE AND THE OFFICERS' JUDGMENT TO ENSURE THAT CONFLICTS ARE IDENTIFIED. IF A CONFLICT IS IDENTIFIED, THE CONFLICT IS EITHER ELIMINATED OR MANAGED. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE SALARY SUBCOMMITTEE, A COMMITTEE DESIGNATED BY THE EXECUTIVE COMMITTEE OF THE MIT CORPORATION, REVIEWS DATA ON AN ANNUAL BASIS REGARDING PAY COMPARISONS OF OTHER PEER INSTITUTIONS AND SURVEY DATA COLLECTED BY WILLIS TOWERS WATSON. UPON REVIEW AND DISCUSSION OF THE DATA AND PERFORMANCE FEEDBACK FOR THE INDIVIDUAL, THE SALARY SUBCOMMITTEE MAKES A COMPENSATION DECISION. THE COMMITTEE'S DELIBERATIONS ARE RECORDED IN A TIMELY MANNER IN THE MEETING MINUTES. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE SALARY SUBCOMMITTEE, A COMMITTEE DESIGNATED BY THE EXECUTIVE COMMITTEE OF THE MIT CORPORATION, REVIEWS DATA ON AN ANNUAL BASIS REGARDING PAY COMPARISONS OF OTHER PEER INSTITUTIONS AND SURVEY DATA COLLECTED BY WILLIS TOWERS WATSON. UPON REVIEW AND DISCUSSION OF THE DATA AND PERFORMANCE FEEDBACK FOR THE INDIVIDUAL, THE SALARY SUBCOMMITTEE MAKES A COMPENSATION DECISION. THE COMMITTEE'S DELIBERATIONS ARE RECORDED IN A TIMELY MANNER IN THE MEETING MINUTES. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE ON MIT'S WEBSITE HTTP://WEB.MIT.EDU. Form 990, Part XI, Line 9 Other changes in net assets or fund balances NET CHANGE IN LIFE INCOME FUNDS - -41426000; POSTRETIREMENT PLAN CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS - XXX-XX-XXXX; OTHER CHANGES - -18058000; Schedule F, Part I, Line 3(a) Subrecipient Agreements A SUBRECIPIENT AGREEMENT IS A RESEARCH SUBCONTRACT WHERE MIT ENGAGES A THIRD PARTY TO PERFORM EXPERIMENTAL, DEVELOPMENTAL, OR RESEARCH WORK GENERALLY IN CONNECTION WITH A SPONSORED RESEARCH AGREEMENT. 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