Overview
What is Massachusetts Institute Of Technology?
The Massachusetts Institute of Technology (MIT) in Cambridge, Massachusetts, is a renowned nonprofit research organization with a mission to expand knowledge and educate students in various fields, primarily in science, technology, and scholarship. Primarily funded by federal grants and contracts, MIT's research initiatives aim to generate groundbreaking advances and innovations to tackle the world's most pressing challenges, such as addressing future energy needs and improving cancer therapies. The institute fosters creative collaborations within interdisciplinary labs and partnerships with leading research institutions and consortia worldwide. MIT's employee base consists of over 25,000 individuals dedicated to this important mission.
Official website here: www.web.mit
What are the reviews and ratings of this charity?
Charity Navigator rating: 96%, Four-Star out of Four Star rating.
The Massachusetts Institute of Technology (MIT) has received a stellar rating of 96%, which reflects its strong commitment to accountability and finance. This high score is derived entirely from its performance in these areas, indicating that MIT adheres to rigorous financial standards and practices robust governance protocols. The organization benefits from a majority independent board, which enhances its credibility and decision-making processes.
MIT's financial health is evident in its impressive program expense ratio of 80.12%, suggesting that a significant portion of its funds is directed towards fulfilling its mission rather than administrative costs. Additionally, the absence of any material diversion of assets further underscores its financial integrity. The organization has also implemented comprehensive policies, such as conflict of interest and whistleblower policies, demonstrating transparency and ethical governance.
While the data highlights MIT's strengths, it is primarily focused on financial and governance aspects, not providing insights into its programmatic impact or community engagement. Nonetheless, its strong accountability measures position it as a responsible and reliable entity in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Massachusetts Institute Of Technology legitimate?
Massachusetts Institute Of Technology is a legitimate nonprofit organization registered as a 501(c)(3) entity. Massachusetts Institute Of Technology submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $13,927,000
Professional Fundraising Fees: $969,000
Other Salaries and Wages: $2,005,599,000
For more financial information, click here
Official website here: www.web.mit
What is the mission statement of Massachusetts Institute Of Technology?
The Massachusetts Institute of Technology (MIT) is dedicated to advancing knowledge and educating students in various scholarly fields, with a focus on making significant contributions to the nation and the world in the 21st century. MIT's research initiatives have led to numerous scientific breakthroughs and technological advances. Primarily funded by federal grants and contracts, MIT's research endeavors aim to develop innovative solutions to the world's most pressing challenges. From addressing energy needs to improving cancer therapies, MIT's research efforts foster interdisciplinary collaborations and partnerships with leading research institutions and consortia around the globe.
Official website here: www.web.mit
Who is the CEO of Massachusetts Institute Of Technology?
Whitney Espich is the CEO of Massachusetts Institute Of Technology The CEO's salary of Massachusetts Institute Of Technology is $333,374 and their total compensation is $410,460.
Official website here: www.web.mit
What is the revenue of Massachusetts Institute Of Technology?
Massachusetts Institute Of Technology's revenue in 2024 was $5,855,286,000.
Official website here: www.web.mit
Who are the executives of Massachusetts Institute Of Technology and what are their salaries?
The average compensation at Massachusetts Institute Of Technology during 2024 was $72,413. There are 27889 employees and 15761 volunteers at Massachusetts Institute Of Technology.
Here are 31 key members and their salaries (Massachusetts Institute Of Technology's CEO's salary is $333,374 and their total compensation is $410,460):
- Compensation: $883,134
- Related: $0
- Other: $73,021
- Compensation: $1,538,692
- Related: $0
- Other: $265,616
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $8,400
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $202,284
- Related: $0
- Other: $60,699
- Compensation: $791,701
- Related: $0
- Other: $76,351
- Compensation: $463,278
- Related: $0
- Other: $74,250
- Compensation: $987,284
- Related: $0
- Other: $18,742
- Compensation: $795,904
- Related: $0
- Other: $48,748
- Compensation: $567,939
- Related: $0
- Other: $85,582
- Compensation: $671,889
- Related: $0
- Other: $50,107
- Compensation: $584,345
- Related: $0
- Other: $40,138
- Compensation: $803,544
- Related: $0
- Other: $92,809
- Compensation: $648,547
- Related: $0
- Other: $84,014
- Compensation: $3,134,866
- Related: $0
- Other: $613,448
- Compensation: $333,374
- Related: $0
- Other: $77,086
- Compensation: $2,267,033
- Related: $0
- Other: $389,881
- Compensation: $1,777,127
- Related: $0
- Other: $521,230
- Compensation: $1,820,913
- Related: $0
- Other: $542,813
- Compensation: $3,131,566
- Related: $0
- Other: $31,949
- Compensation: $1,836,248
- Related: $0
- Other: $555,669
- Compensation: $25,000
- Related: $0
- Other: $37
- Compensation: $556,739
- Related: $0
- Other: $40,734
Official website here: www.web.mit
Where can I find the form 990 for Massachusetts Institute Of Technology?
Massachusetts Institute Of Technology's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.web.mit
Learn more at the official website: www.web.mit
Mission Statement of Massachusetts Institute Of Technology
Massachusetts Institute of Technology (MIT), with a mission to advance knowledge and educate students in science, technology, and various scholarly fields, is dedicated to serving the nation and the world in the 21st century. MIT's campus in Cambridge, MA, has fostered groundbreaking scientific discoveries and technological advancements, primarily funded by federal grants and contracts.
Research at MIT aims to develop innovative solutions to the world's most pressing challenges. From addressing the energy needs of tomorrow to enhancing cancer therapies, MIT's research initiatives strive to make a significant impact. Through creative collaborations in interdisciplinary labs and partnerships with leading research institutions and consortia worldwide, MIT's research efforts are further enriched.
In pursuit of its mission, MIT is known for its role in driving scientific breakthroughs and technological innovations. Its research focuses on developing pioneering solutions to complex issues, making it a global leader in groundbreaking discoveries and advancements. By fostering a culture of creativity and collaboration, MIT continues to pave the way for a better future.
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Impact
October, 2024
The Massachusetts Institute of Technology (MIT) significantly impacts society by advancing knowledge and educating students in critical fields such as science and technology. Its mission is to equip learners with skills that will address the challenges of the 21st century, fostering innovation and critical thinking.
MIT's Cambridge, MA campus serves as a hub for groundbreaking research, driving scientific breakthroughs and technological advancements. Primarily funded by federal grants and contracts, this research focuses on developing innovative solutions to some of the most pressing global issues, including future energy demands and improved cancer therapies.
Through interdisciplinary collaborations and partnerships with leading research institutes and consortia worldwide, MIT enhances its research capabilities, leading to impactful discoveries and applications. The institute's commitment to tackling daunting challenges exemplifies its role as a leader in education and research, serving both national and global needs.
This information is meant to be a general summary of Massachusetts Institute Of Technology. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $226,900,000
- Program Service Revenue: $2,950,400,000
- Gross Receipts: $10,559,588,000
Assets and Liabilities:
- Total Assets: $39,839,201,000
- Total Liabilities: $6,636,362,000
- Net Assets: $33,202,839,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPONSORED SUPPORT
Revenue
$1,682,628,000
TUITION
Revenue
$916,544,000
AUXILIARY ENTERPRISES
Revenue
$161,536,000
OTHER REVENUE
Revenue
$189,692,000
Organization Details
Founding Year
1861
Principal Officer
Sally Kornbluth
Website
www.web.mitNTEE Category
Code: B430 - Education
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