MASSACHUSETTS INSTITUTE OF TECHNOLOGY Charity Report

Public IRS 990 nonprofit record

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

EIN 04-2103594 · Education (B430)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $80.90 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders34 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

66.07%of revenue went to mission work80.9% of expenses · Program services

1.04%of revenue went to fundraising1.3% of expenses

$81.71spent for every $100 of revenueRevenue covered expenses this year.

14.60%of revenue went to management and office costs17.9% of expenses

$8.23in assets for every $1 spent this yearSome assets cannot be spent right away.

18.0%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $4,462,390 for SETH ALEXANDER (PRESIDENT OF MITIMCO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$6,737,799,000

Mission workProgram services$4,451,762,00066.07% of revenue80.9% of expenses

ManagementOffice and general costs$983,887,00014.60% of revenue17.9% of expenses

FundraisingAsking for donations$70,139,0001.04% of revenue1.3% of expenses

Revenue left after expensesReported annual surplus$1,232,011,00018.29% of revenueShown in gray on the chart

Total expenses$5,505,788,00081.71% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 80.9% mission · 17.9% management · 1.3% fundraisingTotal expenses: 81.71% of revenue

2023Expense mix: 81.0% mission · 17.7% management · 1.3% fundraisingTotal expenses: 88.71% of revenue

2022Expense mix: 78.2% mission · 20.6% management · 1.2% fundraisingTotal expenses: 98.93% of revenue

2021Expense mix: 80.6% mission · 18.0% management · 1.3% fundraisingTotal expenses: 71.18% of revenue

2020Expense mix: 80.1% mission · 18.6% management · 1.2% fundraisingTotal expenses: 74.77% of revenue

2019Expense mix: 82.3% mission · 16.3% management · 1.4% fundraisingTotal expenses: 86.71% of revenue

2018Expense mix: 82.1% mission · 16.5% management · 1.4% fundraisingTotal expenses: 76.76% of revenue

2017Expense mix: 79.9% mission · 18.6% management · 1.5% fundraisingTotal expenses: 86.77% of revenue

Money in and money out

Revenue$6,737,799,000

Expenses$5,505,788,000

Annual surplus $1,232,011,000 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$4,451,762,000 · 80.9% of expenses

Management and office costs$983,887,000 · 17.9% of expenses

Fundraising$70,139,000 · 1.3% of expenses

See all reported dollar amounts

Revenue$6,737,799,000

Expenses$5,505,788,000

Assets$45,313,517,000

Income$15,053,199,000

Contributions$1,211,505,000

Mission work (program services)$4,451,762,000

Fundraising$70,139,000

Grants given$78,508,552

Average grant$124,815

Management and general$983,887,000

Stocks and bonds$2,876,440,000

Accounting fees$1,917,000

Investing fees$53,723,000

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

SETH ALEXANDERPRESIDENT OF MITIMCO · 60 hrs/week $4,462,390Base $3,845,075 · Other $617,315

THOMAS WIEANDGLOBAL INVESTMENT PROFESSIONAL, MITIMCO · 60 hrs/week $2,973,895Base $2,411,804 · Other $562,091

NAVNEETH HARIKUMARGLOBAL INVESTMENT PROFESSIONAL, MITIMCO · 60 hrs/week $2,929,985Base $2,406,464 · Other $523,521

RYAN AKKINAGLOBAL INVESTMENT PROFESSIONAL, MITIMCO · 60 hrs/week $2,919,331Base $2,372,792 · Other $546,539

JOEL COHENGLOBAL INVESTMENT PROFESSIONAL, MITIMCO · 60 hrs/week $2,610,835Base $2,132,811 · Other $478,024

SALLY KORNBLUTHPRESIDENT · 60 hrs/week $2,151,788Base $1,734,292 · Other $417,496

L RAFAEL REIFPROFESSOR (FORMER PRESIDENT) · 60 hrs/week $1,849,830Base $1,807,611 · Other $42,219

CYNTHIA BARNHARTPROVOST · 60 hrs/week $1,103,532Base $1,084,227 · Other $19,305

GLEN SHOREXECUTIVE VP AND TREASURER · 60 hrs/week $1,027,167Base $950,529 · Other $76,638

MARK DIVINCENZOVP AND GENERAL COUNSEL · 60 hrs/week $977,844Base $879,429 · Other $98,415

ERIC EVANSPROFESSOR (FORMER DIRECTOR OF LINCOLN LABORATORY) · 40 hrs/week $884,699Base $833,185 · Other $51,514

MELISSA NOBLESCHANCELLOR · 60 hrs/week $772,733Base $684,508 · Other $88,225

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (34)

SETH ALEXANDERPRESIDENT OF MITIMCO

THOMAS WIEANDGLOBAL INVESTMENT PROFESSIONAL, MITIMCO

NAVNEETH HARIKUMARGLOBAL INVESTMENT PROFESSIONAL, MITIMCO

RYAN AKKINAGLOBAL INVESTMENT PROFESSIONAL, MITIMCO

JOEL COHENGLOBAL INVESTMENT PROFESSIONAL, MITIMCO

SALLY KORNBLUTHPRESIDENT

L RAFAEL REIFPROFESSOR (FORMER PRESIDENT)

CYNTHIA BARNHARTPROVOST

GLEN SHOREXECUTIVE VP AND TREASURER

MARK DIVINCENZOVP AND GENERAL COUNSEL

ERIC EVANSPROFESSOR (FORMER DIRECTOR OF LINCOLN LABORATORY)

MELISSA NOBLESCHANCELLOR

JULIE LUCASVP FOR RESOURCE DEVELOPMENT

IAN WAITZVP FOR RESEARCH

MARIA ZUBERPRESIDENTIAL ADVISOR FOR SCIENCE AND TECHNOLOGY PO

W ERIC GRIMSONCHANCELLOR FOR ACADEMIC ADVANCEMENT (FORMER INTERI

ALFRED IRONSIDEVP FOR COMMUNICATIONS

MELISSA CHOIDIRECTOR OF LINCOLN LABORATORY

WHITNEY ESPICHCEO, MIT ALUMNI ASSOCIATION

RACHEL J DONAHUESECRETARY

SANJAY SARMAPROFESSOR (FORMER VP FOR OPEN LEARNING)

MARK P GORENBERGCHAIR OF THE CORPORATION

PAUL R MARCUSEXECUTIVE COMMITTEE MEMBER

PATRICIA R CALLAHANEXECUTIVE COMMITTEE MEMBER

RAY A ROTHROCKEXECUTIVE COMMITTEE MEMBER

RICHARD M LOCKEEXECUTIVE COMMITTEE MEMBER

RUSSELL ERICH CAULFIELDEXECUTIVE COMMITTEE MEMBER

LESLYE MILLER FRASEREXECUTIVE COMMITTEE MEMBER

JANET C WOLFENBARGEREXECUTIVE COMMITTEE MEMBER

ORIT GADIESHEXECUTIVE COMMITTEE MEMBER

FARIBORZ MASEEHEXECUTIVE COMMITTEE MEMBER

DAVID M SIEGELEXECUTIVE COMMITTEE MEMBER

WESLEY G BUSHEXECUTIVE COMMITTEE MEMBER

NOUBAR B AFEYANEXECUTIVE COMMITTEE MEMBER

About this charity

Recognized since: January 1926
Location: 77 MASSACHUSETTS AVE NE49-4097, CAMBRIDGE, MA 02139-4301
County: Middlesex
In care of: % BASIL A STEWART
Primary officer: GLEN SHOR, EXECUTIVE VP AND TREASURER

How to reach them

WebsiteVisit the charity’s website Phone(617) 324-8969 Officer phone(617) 253-5614

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
NTEE classification: Education (B430)
Grant-giving organization: Yes