Massachusetts Institute of Technology
81% goes to programs $5 to raise $100 Strong reserves
Massachusetts Institute of Technology is a 501(c)(3) organization based in Cambridge, Massachusetts, registered in 1926, with $5,855,286,000 in FY2023 revenue. CharityIndex grades it A, and it directs about 81% of spending to programs.
77 Massachusetts Ave Ne49-4097, Cambridge, MA, 02139 EIN 04-2103594 Since 1926
Revenue (FY2023)
$5.9B
▲ 18.2% vs prior year
Education median: $200K
Expenses (FY2023)
$5.2B
Net assets
$33.5B
Employees
27,889
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating81% to programs · $5 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Massachusetts Institute of Technology: 81% to programs · $5 to raise $100 earns a B+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating77 mo reserves · +11% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Massachusetts Institute of Technology: 77 mo reserves · +11% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Massachusetts Institute of Technology: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Massachusetts Institute of Technology: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
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.
What they do
Instruction, unsponsored research, and other: mit is committed to providing a world-class education to our approximately 4,600 undergraduates and approximately 7,300 graduate students. an mit education combines analytical rigor with hands-on learning, imagination, and an appetite for solving the hardest problems in service to society. research flourishes in departments across mit's five schools and one college (science; engineering; humanities, arts & social sciences; architecture & planning; management; and computing), as well as in centers, labs, and programs that convene experts across disciplines. 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, mit health, technology licensing office), auxiliary enterprises (for example, housing, dining), and other miscellaneous program service revenue.
Undergraduate scholarships and graduate tuition support: 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 2023-2024, approximately 58% of all undergraduates received some type of need-based financial aid from mit. financial aid for graduate students includes fellowships, traineeships, and teaching and research assistantships. tuition support also includes external support that flows through mit, in the form of grants.
Contact & location
- Address
- 77 Massachusetts Ave Ne49-4097, Cambridge, MA, 02139
- City
- Cambridge
- State
- Massachusetts
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $4.1B (FY2013) to $5.9B (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $6.4BNet assets $33.5B
Operating margin
11.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$39.9B
Total liabilities
$6.4B
Net assets
$33.5B
Salaries & benefits
$2.5B
48% of expenses
Board members
12
10 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $5,855,286,000▲18.2% | $5,194,162,000▲6.0% | $33,538,869,000▲4.3% | $39,938,014,000▲3.5% | 990 |
| 2022 | $4,954,533,000▼22.3% | $4,901,572,000▲7.9% | $32,162,489,000▼3.1% | $38,587,698,000▼3.1% | 990 |
| 2021 | $6,378,650,000▲11.4% | $4,540,620,000▲6.0% | $33,202,839,000▼8.8% | $39,839,201,000▼6.2% | 990 |
| 2020 | $5,726,158,000▲19.2% | $4,281,626,000▲2.8% | $36,408,939,000▲53.0% | $42,473,040,000▲41.3% | 990 |
| 2019 | $4,804,195,000▼9.5% | $4,165,517,000▲2.2% | $23,795,577,000▲5.5% | $30,065,085,000▲9.3% | 990 |
| 2018 | $5,308,609,000▲19.5% | $4,075,066,000▲5.7% | $22,552,551,000▲5.5% | $27,518,235,000▲6.4% | 990 |
| 2017 | $4,443,525,000▲7.4% | $3,855,696,000▲2.8% | $21,374,624,000▲12.5% | $25,861,939,000▲9.0% | 990 |
| 2016 | $4,137,922,000▲4.5% | $3,751,619,000▲4.1% | $19,006,233,000▲12.6% | $23,727,446,000▲7.0% | 990 |
| 2015 | $3,961,420,000▼2.0% | $3,604,394,000▲7.2% | $16,884,776,000▼3.9% | $22,177,032,000▲1.3% | 990 |
| 2014 | $4,042,224,000▼0.7% | $3,362,019,000▲6.7% | $17,562,621,000▲9.2% | $21,882,075,000▲7.6% | 990 |
| 2013 | $4,070,665,000 | $3,151,739,000▲0.9% | $16,080,948,000▲15.6% | $20,337,912,000▲15.1% | 990 |
| 2012 | — | $3,123,050,000▼7.7% | $13,908,543,000▲10.8% | $17,675,782,000▲5.4% | 990 |
| 2011 | — | $3,384,603,000▲21.0% | $12,548,056,000▲3.4% | $16,769,229,000▲4.8% | 990 |
| 2010 | — | $2,797,927,000▼4.4% | $12,132,083,000▲17.2% | $15,997,478,000▲19.6% | 990 |
| 2009 | — | $2,926,829,000 | $10,349,713,000 | $13,371,065,000 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Seth Alexander — $3,134,866 (0.06% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Seth Alexander | President of Mitimco | 60 | $3,134,866 |
| Steven Marsh | Senior Vp, Mitimco | 60 | $3,131,566 |
| L Rafael Reif | Professor (former President) | 60 | $2,267,033 |
| Thomas Wieand | Global Investment Professional, Mitimco | 60 | $1,836,248 |
| Ryan Akkina | Global Investment Professional, Mitimco | 60 | $1,820,913 |
| Navneeth Harikumar | Global Investment Professional, Mitimco | 60 | $1,777,127 |
| Sally Kornbluth | President | 60 | $1,538,692 |
| Cynthia Barnhart | Provost | 60 | $987,284 |
| Glen Shor | Executive Vp and Treasurer | 60 | $883,134 |
| Mark Divincenzo | Vp and General Counsel | 60 | $803,544 |
| Eric Evans | Director of Lincoln Laboratory | 60 | $795,904 |
| Suzanne L Glassburn | Vp and Secretary (outgoing) | 60 | $791,701 |
| Julie Lucas | Vp For Resource Development | 60 | $671,889 |
| Melissa Nobles | Chancellor | 60 | $648,547 |
| Maria Zuber | Vp For Research (outgoing) | 60 | $584,345 |
| Ian Waitz | Vp For Research (incoming) | 60 | $567,939 |
| W Eric Grimson | Chancellor For Academic Advancement (former Interim Vp For Open Learning) | 40 | $556,739 |
| Alfred Ironside | Vp For Communications | 60 | $463,278 |
| Whitney Espich | Ceo, Mit Alumni Association | 60 | $333,374 |
| Rachel J Donahue | Secretary (incoming) | 60 | $202,284 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| American Campus Communities | Construction | $87,755,995 |
| John Moriarty & Associates | Construction | $34,212,926 |
| Turner Construction Company | Construction | $30,155,280 |
| Bon Appetit Management | Food Services | $20,253,199 |
| Epi-use America Inc | It Consulting Services | $16,757,130 |
Grants received · $1.3B total
1,213 grants to Massachusetts Institute of Technology totaling $1.3B, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Jewish Communal Fund | In furtherance of grantee's tax-exempt purpose | 2024 | $8,962,890 |
| Pew Charitable Trusts | Policy | 2024 | $5,625,190 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $5,388,233 |
| The Milken Institute | Transformative computational biology | 2024 | $4,962,414 |
| Commonwealth Foundation For Cancer Research Foundation | Support for clinical studies and to advance discoveries and new technologies in cancer research | 2024 | $2,500,000 |
| Foundation For Food and Agriculture Research | Research | 2024 | $2,500,000 |
| Silicon Valley Community Foundation | Education | 2024 | $2,456,742 |
| Fidelity Non-profit Management Foundation | Program development/evaluation | 2024 | $2,000,000 |
| Charles Stark Draper Laboratory Inc | Research/scholar support | 2024 | $1,740,772 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $1,531,667 |
| American Online Giving Foundation Inc | General support | 2024 | $1,223,246 |
| Rockefeller Philanthropy Advisors Inc | Education | 2024 | $1,000,000 |
| Co-impact Philanthropic Funds Inc | See part iv | 2024 | $966,475 |
| Ayco Charitable Foundation | Education | 2024 | $753,877 |
| The V Foundation | Cancer research | 2024 | $600,000 |
Grants made · $12.7M in FY2023
105 grants totaling $12.7M in FY2023 — showing the 15 largest. All grants made by Massachusetts Institute of Technology →
| Recipient | Purpose | Amount |
|---|---|---|
| Technology Review Inc | Contribution | $5,569,447 |
| Beta Nu House Corporation | Irdf grant | $950,572 |
| Phi Sigma Kappa | Irdf grant | $655,716 |
| Impactassets Inc | Contribution | $516,000 |
| Landmark Bio Pbllc | Contribution | $500,000 |
| Jewish Community Day School Inc | Distribution from donor-advised fund/charitable contribution | $306,000 |
| Stem From Dance | Solve grant | $250,000 |
| Helix Carbon Inc | Prize | $205,000 |
| Medecins Sans Frontieres USA Inc | Distribution from donor-advised fund/charitable contribution | $200,000 |
| Womens Audio Mission | Solve grant | $200,000 |
| Ada Developers Academy | Solve grant | $200,000 |
| Gnypwd LLC | Solve grant | $135,000 |
| My Brothers Keeper Task Force Inc | Contribution | $130,000 |
| Donor Advised Charitable Giving | Distribution from donor-advised fund/charitable contribution | $125,570 |
| Active Surfaces Inc | Prize | $115,000 |
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Frequently asked questions
- Is Massachusetts Institute of Technology a legitimate nonprofit?
- Yes. Massachusetts Institute of Technology is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2103594, based in Cambridge, Massachusetts. Donations are tax-deductible.
- What is Massachusetts Institute of Technology's EIN?
- Massachusetts Institute of Technology's Employer Identification Number (EIN) is 04-2103594.
- How much revenue does Massachusetts Institute of Technology report?
- Massachusetts Institute of Technology reported $5,855,286,000 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Massachusetts Institute of Technology's spending goes to programs?
- Massachusetts Institute of Technology spends about 81% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Massachusetts Institute of Technology have?
- CharityIndex grades Massachusetts Institute of Technology A, based on program efficiency and fundraising cost.
- How much does Massachusetts Institute of Technology's highest-paid employee make?
- The highest reported compensation on Massachusetts Institute of Technology's latest Form 990 is $3,134,866, paid to Seth Alexander (President of Mitimco).
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Explore more
Data for Massachusetts Institute of Technology (EIN 04-2103594) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.