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Massachusetts Institute of Technology

Massachusetts Institute of Technology

Cambridge, MA 02139
Tax ID04-2103594

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About this organization

Revenue

$4,443,525,000

Expenses

$3,855,696,000

Website

web.mit.edu

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. The Institute is committed to generating, disseminating, and preserving knowledge, and to working with others to bring this knowledge to bear on the world’s great challenges. MIT is dedicated to providing its students with an education that combines rigorous academic study and the excitement of discovery with the support and intellectual stimulation of a diverse campus community. We seek to develop in each member of the MIT community the ability and passion to work wisely, creatively, and effectively for the betterment of humankind.

About

The MIT community is driven by a shared purpose: to make a better world through education, research, and innovation. We are fun and quirky, elite but not elitist, inventive and artistic, obsessed with numbers, and welcoming to talented people regardless of where they come from. Founded to accelerate the nation’s industrial revolution, MIT is profoundly American. With ingenuity and drive, our graduates have invented fundamental technologies, launched new industries, and created millions of American jobs. At the same time, and without the slightest sense of contradiction, MIT is profoundly global. Our community gains tremendous strength as a magnet for talent from around the world. Through teaching, research, and innovation, MIT’s exceptional community pursues its mission of service to the nation and the world.

Interesting data from their 2019 990 filing

The filing reveals the mission of the non-profit as “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.”.

When detailing its functions, they were listed as: “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.”.

  • According to the law, the state where the non-profit operates has been reported as MA.
  • The filing specifies that the non-profit's address in 2019 was 77 MASSACHUSETTS AVENUE, Cambridge, MA, 02139.
  • As of 2019, the non-profit's form shows they have a total of 25269 employees.
  • The non-profit has loans outstanding as of 2019.
  • Does not operate a hospital.
  • Operates a school.
  • Collects art.
  • Does not provide credit counseling.
  • Has foreign activities.
  • Is a donor advised fund.
  • Is not a private foundation.
  • Expenses are greater than $1,000,000.
  • Revenue is greater than $1,000,000.
  • Revenue less expenses is $587,829,000.
  • The CEO compensation scheme within the organization is based on a review and endorsement process by a neutral entity.
  • The organization elects its board members.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has a foreign financial account.
  • The organization has 8 independent voting members.
  • The organization has a professional fund raiser.
  • The organization was formed in 1861.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule J.
  • The organization is required to file Schedule O.
  • The organization engages in lobbying activities.
  • The organization pays $1,746,719,000 in salary, compensation, and benefits to its employees.
  • The organization pays $57,705,000 in fundraising expenses.
  • The organization provides Form 990 to its governing body.
  • The organization pays grants to individuals.
  • The organization has minutes of its meetings.
  • The organization has a written whistleblower policy.
  • The organization grants to a related person.
  • The organization has a business related family member transaction.
  • The organization has grants to organizations.
  • The organization's financial statements were reviewed by an accountant.

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