Massachusetts Institute of Technology Welfare Benefit Plans T
98% goes to programs Strong reserves
Massachusetts Institute of Technology Welfare Benefit Plans T is a 501(c)(3) organization based in Cambridge, Massachusetts, registered in 1993, with $66,489,000 in FY2023 revenue. CharityIndex grades it C+, and it directs about 98% of spending to programs.
77 Massachusetts Avenue Ne49-3142, Cambridge, MA, 02139 EIN 04-3177556 Since 1993
Revenue (FY2023)
$66.5M
▼ 12.4% vs prior year
Membership median: $185K
Expenses (FY2023)
$55.0M
Net assets
$985.5M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →A+Program efficiency40% of the rating98% to programs
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 Welfare Benefit Plans T: 98% to programs earns a A+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating215 mo reserves · +17% 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 Welfare Benefit Plans T: 215 mo reserves · +17% margin earns a B+ on this criterion. See the exact thresholds →
DGovernance25% of the rating1 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 Welfare Benefit Plans T: 1 of 6 checks met earns a D on this criterion. See the exact thresholds →
ATransparency10% of the rating4 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 Welfare Benefit Plans T: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
To provide health and life insurance benefits to covered eligible retirees of massachusetts institute of technology and their dependents, as well as individuals receiving long-term disability benefits for at least three years.
Contact & location
- Address
- 77 Massachusetts Avenue Ne49-3142, Cambridge, MA, 02139
- City
- Cambridge
- State
- Massachusetts
- Category
- Mutual & Membership Benefit
- Subcategory
- Pension & Retirement Funds
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $32.4M (FY2013) to $66.5M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $24.7MNet assets $985.5M
Operating margin
17.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.0B
Total liabilities
$24.7M
Net assets
$985.5M
Salaries & benefits
$0
0% of expenses
Board members
2
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $66,489,000▼12.4% | $54,982,000▲7.8% | $985,479,000▲7.7% | $1,010,214,000▲7.7% | 990 |
| 2022 | $75,943,000▼58.9% | $50,984,000▲19.4% | $914,749,000▼4.0% | $937,723,000▼2.0% | 990 |
| 2021 | $184,682,000▲178% | $42,698,000▲9.5% | $952,411,000▼13.6% | $957,104,000▼14.0% | 990 |
| 2020 | $66,324,000▲107% | $39,007,000▲11.2% | $1,102,329,000▲44.9% | $1,112,555,000▲45.9% | 990 |
| 2019 | $31,984,000▲35.0% | $35,085,000▼2.9% | $760,583,000▲7.0% | $762,611,000▲7.1% | 990 |
| 2018 | $23,696,000▼38.6% | $36,126,000▲15.7% | $711,156,000▲2.9% | $712,213,000▲2.4% | 990 |
| 2017 | $38,585,000▼38.6% | $31,222,000▼1.5% | $691,327,000▲10.9% | $695,458,000▲10.4% | 990 |
| 2016 | $62,815,000▲1317% | $31,709,000▲11.7% | $623,498,000▲13.5% | $629,908,000▲14.7% | 990 |
| 2015 | -$5,162,000▼117% | $28,398,000▼6.9% | $549,156,000 | $549,354,000 | 990 |
| 2014 | $30,513,000▼5.9% | $30,507,000▲15.5% | $548,921,000▲10.8% | $549,612,000▲10.9% | 990 |
| 2013 | $32,421,000 | $26,422,000▲0.5% | $495,458,000▲19.4% | $495,761,000▲15.6% | 990 |
| 2012 | — | $26,300,000▲7.9% | $414,981,000▲15.6% | $428,899,000▲18.7% | 990 |
| 2011 | — | $24,370,000▼4.6% | $358,912,000▲15.2% | $361,214,000▲15.8% | 990 |
| 2010 | — | $25,540,000▲2274% | $311,539,000▲33.1% | $311,861,000▲32.6% | 990 |
| 2009 | — | $1,076,000 | $234,070,000 | $235,278,000 | 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)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Glen Shor | Trustee | 1 | — |
| Seth Alexander | Trustee | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| State Street Bank | Financial Custody Services | $321,377 |
| Wellington Group Holdings LLP | Investment Manager | $127,610 |
Grants received · $125K total
2 grants to Massachusetts Institute of Technology Welfare Benefit Plans T totaling $125K, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Mozilla Foundation | Project support to integrate responsible computing and ethics. | 2023 | $50,000 |
| Optical Society of America Inc | Educational outreach | 2019 | $75,000 |
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Compare Massachusetts Institute of Technology Welfare Benefit Plans T
Frequently asked questions
- Is Massachusetts Institute of Technology Welfare Benefit Plans T a legitimate nonprofit?
- Yes. Massachusetts Institute of Technology Welfare Benefit Plans T is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-3177556, based in Cambridge, Massachusetts. Donations are tax-deductible.
- What is Massachusetts Institute of Technology Welfare Benefit Plans T's EIN?
- Massachusetts Institute of Technology Welfare Benefit Plans T's Employer Identification Number (EIN) is 04-3177556.
- How much revenue does Massachusetts Institute of Technology Welfare Benefit Plans T report?
- Massachusetts Institute of Technology Welfare Benefit Plans T reported $66,489,000 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Massachusetts Institute of Technology Welfare Benefit Plans T's spending goes to programs?
- Massachusetts Institute of Technology Welfare Benefit Plans T spends about 98% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Massachusetts Institute of Technology Welfare Benefit Plans T have?
- CharityIndex grades Massachusetts Institute of Technology Welfare Benefit Plans T C+, based on program efficiency and fundraising cost.
- How much does Massachusetts Institute of Technology Welfare Benefit Plans T's highest-paid employee make?
- The highest reported compensation on Massachusetts Institute of Technology Welfare Benefit Plans T's latest Form 990 is $0, paid to Glen Shor (Trustee).
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Data for Massachusetts Institute of Technology Welfare Benefit Plans T (EIN 04-3177556) 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.