Mit International Inc
100% goes to programs $0 to raise $100 Strong reserves Growing revenue
Mit International Inc is a 501(c)(3) organization based in Cambridge, Massachusetts, registered in 2017, with $12,850,000 in FY2023 revenue. CharityIndex grades it A, and it directs about 100% of spending to programs.
77 Massachusetts Ave Building Ne49-, Cambridge, MA, 02139 EIN 81-2731492 Since 2017
Revenue (FY2023)
$12.8M
▼ 44.9% vs prior year
Education median: $200K
Expenses (FY2023)
$8.7M
Net assets
$20.5M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating100% to programs · $0 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 Mit International Inc: 100% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating28 mo reserves · +32% 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 Mit International Inc: 28 mo reserves · +32% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 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 Mit International Inc: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
BTransparency10% of the rating3 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 Mit International Inc: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
The corporation is organized and shall be operated exclusively for charitable, educational, and scientific purposes.
Contact & location
- Address
- 77 Massachusetts Ave Building Ne49-, Cambridge, MA, 02139
- City
- Cambridge
- State
- Massachusetts
- Category
- Education
- Subcategory
- Support Foundations & Fundraising
- Phone
- …
Financial trends
Revenue declined from $25.2M (FY2015) to $12.8M (FY2023) across 9 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $95KNet assets $20.5M
Operating margin
32.0%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$20.6M
Total liabilities
$95K
Net assets
$20.5M
Salaries & benefits
$1.0M
12% of expenses
Board members
5
0 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $12,850,000▼44.9% | $8,736,000▲4.2% | $20,541,000▲23.1% | $20,636,000▲10.2% | 990 |
| 2022 | $23,334,000▲755% | $8,383,000▲117% | $16,689,000▼51.6% | $18,724,000▼45.8% | 990 |
| 2021 | $2,729,000▼57.5% | $3,863,000▼56.1% | $34,505,000▼18.9% | $34,517,000▼19.5% | 990 |
| 2020 | $6,428,000▼63.1% | $8,792,000▲55.6% | $42,559,000▼65.9% | $42,886,000▼66.0% | 990 |
| 2019 | $17,443,000▼16.5% | $5,652,000▼43.2% | $124,736,000▲10.5% | $126,226,000▲9.9% | 990 |
| 2018 | $20,892,000▼15.9% | $9,955,000▼30.0% | $112,923,000▲10.7% | $114,834,000▲11.7% | 990 |
| 2017 | $24,842,000▼63.9% | $14,213,000▲426% | $102,002,000▲11.6% | $102,823,000▲11.5% | 990 |
| 2016 | $68,877,000▲173% | $2,700,000 | $91,373,000▲263% | $92,186,000▲266% | 990 |
| 2015 | $25,196,000 | $0 | $25,196,000 | $25,196,000 | 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: Nina Vanwormer — $263,564 (3.02% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Nina Vanwormer | Associate Director, Global Investment Legal Services | 29 | $263,564 |
| Charleston Sin | Executive Director, Mit Hong Kong Innovation Node | 40 | $208,098 |
| Marina Chan | Senior Director - Mit Hong Kong Innovation Node, Head of Education | 40 | $165,582 |
| Sunnie Lau | Director of Smart City Research and Industry Collaboration - Mit Hong Kong Innovation Node | 40 | $134,463 |
| Cynthia Barnhart | Director | 1 | — |
| Glen Shor | Director | 1 | — |
| Katherine Hammer | Treasurer | 1 | — |
| Magdalene Lee | Vice President | 1 | — |
| Maria Zuber | Director | 1 | — |
| Mark Divincenzo | Director | 1 | — |
| Matthew Fucci | Clerk | 1 | — |
| Richard Lester | President | 2 | — |
Grants received · $4.6M total
7 grants to Mit International Inc totaling $4.6M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Follow Your Dream Foundation Inc | General support | 2024 | $1,152,452 |
| Follow Your Dream Foundation Inc | General support | 2023 | $1,000,000 |
| Massachusetts Institute of Technology | Contribution | 2022 | $973,000 |
| Massachusetts Institute of Technology | Contribution | 2021 | $749,258 |
| Massachusetts Institute of Technology | Contribution | 2020 | $129,674 |
| Massachusetts Institute of Technology | Contribution | 2019 | $600,000 |
| Massachusetts Institute of Technology | Contribution | 2018 | $9,991 |
Grants made · $7.4M in FY2023
1 grant totaling $7.4M in FY2023. All grants made by Mit International Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Massachusetts Institute of Technology | Fundraising transfers | $7,359,000 |
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Frequently asked questions
- Is Mit International Inc a legitimate nonprofit?
- Yes. Mit International Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 81-2731492, based in Cambridge, Massachusetts. Donations are tax-deductible.
- What is Mit International Inc's EIN?
- Mit International Inc's Employer Identification Number (EIN) is 81-2731492.
- How much revenue does Mit International Inc report?
- Mit International Inc reported $12,850,000 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Mit International Inc's spending goes to programs?
- Mit International Inc spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Mit International Inc have?
- CharityIndex grades Mit International Inc A, based on program efficiency and fundraising cost.
- How much does Mit International Inc's highest-paid employee make?
- The highest reported compensation on Mit International Inc's latest Form 990 is $263,564, paid to Nina Vanwormer (Associate Director, Global Investment Legal Services).
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Data for Mit International Inc (EIN 81-2731492) 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.