Massachusetts Institute Of Technology

Organization Overview

Massachusetts Institute Of Technology is located in Cambridge, MA. The organization was established in 1926. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2020, Massachusetts Institute Of Technology employed 26,214 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.

For the year ending 06/2020, Massachusetts Institute Of Technology generated $4.8b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $4.2b during the year ending 06/2020. While expenses have increased by 2.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Massachusetts Institute Of Technology has awarded 263 individual grants totaling $27,408,560. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2020

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

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.


INSTRUCTION AND UNSPONSORED RESEARCH: MIT IS COMMITTED TO PROVIDING A WORLD-CLASS EDUCATION TO OUR APPROXIMATELY 4,600 UNDERGRADUATES AND APPROXIMATELY 7,000 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.


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 2019-2020, APPROXIMATELY 60% OF ALL UNDERGRADUATES RECEIVED SOME TYPE OF NEED-BASED FINANCIAL AID FROM MIT. FINANCIAL AID FOR GRADUATE STUDENTS INCLUDES FELLOWSHIPS, TRAINEESHIPS, TEACHING AND RESEARCH ASSISTANTSHIPS, AND LOANS.


THIS ITEM CONSISTS OF 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 WHICH 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.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Executive Committee Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Turner Construction Company
Construction
$377,337,727
Bond Brothers Inc
Construction
$82,361,536
Walsh Brothers Incorporated
Construction
$61,213,423
John Moriarty & Associates
Construction
$36,205,524
Consigli Construction Co
Construction
$27,364,994
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$5,377,000
Government grants $421,023,000
All other contributions, gifts, grants, and similar amounts not included above$587,822,000
Noncash contributions included in lines 1a–1f $68,738,000
Total Revenue from Contributions, Gifts, Grants & Similar$1,014,222,000
Total Program Service Revenue$2,452,821,000
Investment income $37,179,000
Tax Exempt Bond Proceeds $0
Royalties $58,565,000
Net Rental Income $42,810,000
Net Gain/Loss on Asset Sales $1,198,598,000
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $4,804,195,000

Grants Awarded

Over the last fiscal year, Massachusetts Institute Of Technology has awarded $9,554,383 in support to 58 organizations.

Grant RecipientAmount

TECHNOLOGY REVIEW INC

Org PageRecipient Profile

Cambridge, MA

PURPOSE: CONTRIBUTION

$4,512,964

MIT INTERNATIONAL INC

Org PageRecipient Profile

Cambridge, MA

PURPOSE: CONTRIBUTION

$600,000

WHITEHEAD INSTITUTE FOR BIOMEDICAL RESEARCH

Org PageRecipient Profile

Cambridge, MA

PURPOSE: Research Grant

$500,000

IMPACT ASSETS INC

Org PageRecipient Profile

Bethesda, MD

PURPOSE: Contribution

$362,260

TRUSTEES OF TUFTS COLLEGE

Org PageRecipient Profile

Somerville, MA

PURPOSE: Contribution

$275,000

CASA MYRNA VASQUEZ INC

Org PageRecipient Profile

Boston, MA

PURPOSE: Contribution

$250,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 83 grants that Massachusetts Institute Of Technology has recieved totaling $13,575,429.

Awarding OrganizationAmount
Mathworks Foundation Inc

Natick, MA

PURPOSE: EXEMPT PURPOSE

$4,095,000
Jewish Communal Fund

New York, NY

PURPOSE: General support

$2,964,066
American Online Giving Foundation Inc

Newark, DE

PURPOSE: GENERAL SUPPORT

$1,890,343
Massachusetts Inst Of Tech Trust

Paoli, PA

PURPOSE: FBO RECIPIENT (STATEMENT A: VARIOUS SECURITIES: DISTRIBUTION OF ASSETS IN COMPLETE TERMINATION)

$774,117
The Wilke Family Foundation

Wilmington, DE

PURPOSE: THE WILKE INCLUSION LEADERSHIP FUND

$500,000
Eric P And Evelyn Newman Charitable Foundation

Saint Louis, MO

PURPOSE: EDUCATIONAL SUPPORT, REHAB OF NEWMAN LAB

$400,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$17,545,703,000
Earnings$1,569,985,000
Admin Expense$34,437,000
Net Contributions$120,011,000
Other Expense$585,969,000
Grants$150,283,000
Ending Balance$18,465,010,000

Peer Organizations

Organization NameAssets
Fordham University
Bronx, NY
$936,054,028
Rochester Institute Of Technology
Rochester, NY
$849,584,640
St Johns University New York
Jamaica, NY
$810,687,746
Rensselaer Polytechnic Institute
Troy, NY
$653,047,178
The New School
New York, NY
$558,997,855
Hofstra University
Hempstead, NY
$592,927,157
Rockefeller University
New York, NY
$455,447,251
American University Of Beirut
New York, NY
$608,300,843
Brandeis University
Waltham, MA
$457,392,877
Quinnipiac University
Hamden, CT
$499,698,237
Johnson & Wales University
Providence, RI
$403,272,641
Long Island University
Brookville, NY
$425,246,385

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