2017-05-12T15:02:37-05:00 2016-06-30 990 2015-07-01 042103594 Massachusetts Institute of Technology MASS 6173248142 77 MASSACHUSETTS AVENUE NE49-3142 Cambridge MA 021394307 ISRAEL RUIZ EXECUTIVE VP & TREASURER 2017-05-12 2015 2021-01-29 14:40:06Z L RAFAEL REIF 77 MASSACHUSETTS AVENUE NE49-3142 Cambridge MA 021394307 26350047000 false X http://web.mit.edu X 1861 MA 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. 13 10 24689 16667 25867000 -10753903 985424000 963130000 2005751000 2115709000 908466000 740991000 142583000 141590000 4042224000 3961420000 521926000 541560000 0 0 1437076000 1514886000 889000 575000 52708000 1402128000 1547373000 3362019000 3604394000 680205000 357026000 21882075000 22177032000 4319454000 5292256000 17562621000 16884776000 X 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. false false 1446724000 86234000 1422497000 SPONSORED RESEARCH: MIT'S CAMBRIDGE, MA CAMPUS PROVIDES A FERTILE SETTING FOR RESEARCH THAT HAS SPAWNED A HOST OF SCIENTIFIC BREAKTHROUGHS AND TECHNOLOGICAL ADVANCES. PRIMARILY SPONSORED BY FEDERAL GRANTS AND CONTRACTS, RESEARCH AT MIT AIMS TO DEVELOP INNOVATIVE SOLUTIONS TO THE WORLD'S MOST DAUNTING CHALLENGES. FROM ADDRESSING THE ENERGY NEEDS OF TOMORROW TO IMPROVING CANCER THERAPIES AND MORE, MIT'S RESEARCH EFFORTS ARE ENHANCED THROUGH CREATIVE COLLABORATIONS IN INTERDISCIPLINARY LABS AND WITH LEADING RESEARCH INSTITUTES AND CONSORTIA AROUND THE WORLD. SEE SCHEDULE O. 854595000 156704000 656554000 INSTRUCTION AND UNSPONSORED RESEARCH: MIT IS COMMITTED TO PROVIDING A WORLD-CLASS EDUCATION TO OUR APPROXIMATELY 4,500 UNDERGRADUATES AND APPROXIMATELY 6,800 GRADUATE STUDENTS. THE FOCUS OF INSTRUCTION IS NOT ONLY SCIENTIFIC AND TECHNICAL, BUT INCLUDES A STRONG HUMANITIES COMPONENT AND EMPHASIZES CREATIVE PROBLEM SOLVING. MIT'S FIVE SCHOOLS (SCIENCE; ENGINEERING; HUMANITIES, ARTS & SOCIAL SCIENCES; ARCHITECTURE & URBAN PLANNING; AND MANAGEMENT) CREATE THE FOUNDATION OF A RIGOROUS MIT EDUCATION, WHICH IS HEIGHTENED BY SERVICE TO COMMUNITIES AROUND THE WORLD. 295419000 295419000 SCHOLARSHIPS AND FELLOWSHIPS (TUITION DISCOUNT): MIT'S UNDERGRADUATE FINANCIAL AID PROGRAM ENSURES THAT AN MIT EDUCATION IS ACCESSIBLE TO ALL QUALIFIED CANDIDATES REGARDLESS OF THEIR FINANCIAL RESOURCES. MIT REMAINS DEDICATED TO PROVIDING FINANCIAL AID TO MEET THE FULL COST OF AN MIT EDUCATION, BASED ON THE NEEDS OF THE FAMILY. IN 2015-2016, APPROXIMATELY 56% OF ALL UNDERGRADUATES RECEIVED SOME TYPE OF NEED-BASED FINANCIAL AID FROM MIT. FINANCIAL AID FOR GRADUATE STUDENTS INCLUDES FELLOWSHIPS, TRAINEESHIPS, TEACHING AND RESEARCH ASSISTANTSHIPS, AND LOANS. 159185000 3203000 233917000 THIS ITEM CONSISTS OF OTHER EXPENDITURES (INCLUDING GRANTS) INCURRED, AND REVENUES GENERATED IN CONNECTION WITH MIT'S OTHER PROGRAM SERVICES RELATED TO VARIOUS ACTIVITIES IN FURTHERANCE OF AND IN SUPPORT OF MIT'S EXEMPT MISSION WHICH INCLUDED BUT WERE NOT LIMITED TO SUCH THINGS AS FEES AND SERVICES (FOR EXAMPLE, MEDICAL DEPARTMENT, TECHNOLOGY LICENSING OFFICE), AUXILIARY ENTERPRISES (FOR EXAMPLE, HOUSING, DINING), AND OTHER MISCELLANEOUS PROGRAM SERVICE REVENUE. 159185000 3203000 233917000 2755923000 true false false true false false false true false true true true false false true true false true true true true false true true true false false true true true true false false false false false true true false true false true true false false true true true true false false true 24155 0 true 24689 true true true true AR AS BA BD BR VI CJ CI CH CO EZ DA FI FR GM GR GK HK HU IN ID EI IT JA KS LU MY MP MO NL MU PE RP PL QA RO SN SP SW SZ TW TH TU UK AE VE false false false true true false false false false X 13 10 true false false false false true false true true false true true true true true true true true true true true true MA OK CA X DANIELLE KHOURY 6172534835 77 MASSACHUSETTS AVENUE NE49-3000 Cambridge MA 02139 L Rafael Reif President 60.0 2.0 X X 917855 0 123162 Robert B Millard Chairman of the Corporation 60.0 1.0 X X 315548 0 29459 Israel Ruiz Executive VP and Treasurer 60.0 4.0 X X 581064 0 50191 Denis A Bovin Executive Committee Member 5.0 1.0 X 0 0 0 James A Champy Executive Committee Member 5.0 0 X 0 0 0 Lawrence K Fish Executive Committee Member 5.0 0 X 0 0 0 John A Thain Executive Committee Member 5.0 1.0 X 0 0 0 A Neil Pappalardo Executive Committee Member 5.0 0 X 0 0 0 Diana Chapman Walsh Executive Committee Member 5.0 0 X 0 0 0 Barrie R Zesiger Executive Committee Member 5.0 0 X 0 0 0 Arthur J Samberg Executive Committee Member 5.0 0 X 0 0 0 Alan G Spoon Executive Committee Member 5.0 1.0 X 0 0 0 Henri A Termeer Executive Committee Member 5.0 0 X 0 0 0 Susan E Whitehead Executive Committee Member 5.0 0 X 0 0 0 R Gregory Morgan Senior VP and Secretary of the Corporation 60.0 1.0 X 633479 0 71363 Cynthia Barnhart Chancellor 60.0 1.0 X 380915 0 65830 Martin A Schmidt Provost 60.0 4.0 X 546540 0 116666 Seth Alexander President of MITIMCo 60.0 3.0 X 1753921 0 51906 Kirk Kolenbrander Vice President 60.0 0 X 342713 0 66398 Mark DiVincenzo VP and General Counsel 60.0 2.0 X 361781 0 62535 Eric Evans Director of Lincoln Laboratory 60.0 0 X 476648 0 63175 Maria Zuber VP for Research 60.0 4.0 X 378642 0 61434 Julie Lucas VP for Resource Development 60.0 0 X 517321 0 26241 Sanjay Sarma VP for Open Learning 60.0 0 X 348652 0 59079 Steven Marsh Managing Director - MITIMCo 60.0 0 X 1339186 0 68010 Ivan Werning Professor - Economics 60.0 0 X 868935 0 28145 Thomas Wieand Global Investment Professional - MITIMCo 60.0 0 X 848673 0 50379 Daron Acemoglu Professor - Economics 60.0 0 X 829737 0 57166 Steven Eppinger Professor - Sloan 60.0 0 X 782936 0 63959 Claude Canizares (Former Vice President) Professor 40.0 0 X 385138 0 35048 Phillip Clay (Former Chancellor) Professor 40.0 0 X 322809 0 33776 W Eric Grimson (Former Chancellor) Chancellor for Academic Advancement 40.0 0 X 369172 0 41526 Chris Kaiser (Former Provost) Professor 40.0 1.0 X 446119 0 60862 Susan Hockfield President Emerita & Professor 40.0 0 X 716489 0 80207 14464273 0 1366517 3812 true true true BOND BROTHERS INC 145 SPRING STREET EVERETT MA 02149 CONSTRUCTION 59984878 John Moriarty & Associates 3 CHURCH STREET SUITE 2 WINCHESTER MA 01890 CONSTRUCTION 49272539 TURNER CONSTRUCTION COMPANY 2 SEAPORT LANE BOSTON MA 02210 CONSTRUCTION 48454627 CONSIGLI CONSTRUCTION CO INC 72 SUMMER STREET MILFORD MA 01757 CONSTRUCTION 46663006 SUFFOLK CONSTRUCTION COMPANY INC 65 ALLERTON STREET BOSTON MA 02119 CONSTRUCTION 18343059 672 259000 3214000 401668000 557989000 42041000 963130000 Sponsored Research Contracts 900099 1225238000 1225238000 Fees and Services 900099 124610000 79476000 45134000 Other Programs 900099 10965000 10965000 Tuition 900099 645589000 645589000 Auxiliary Enterprises 900099 109307000 109285000 22000 0 0 0 0 2115709000 78918000 -19289000 98207000 57533000 57533000 134773000 50596000 84177000 0 84177000 84177000 22999984000 22337911000 662073000 0 662073000 662073000 0 259000 120000 -120000 -120000 0 0 0 0 0 3961420000 2070553000 25867000 901870000 508000 508000 538357000 538357000 2695000 2695000 0 0 8672000 1542000 6629000 501000 2666000 1059000 1607000 1196088000 926297000 241545000 28246000 78029000 61104000 16107000 818000 146980000 111835000 30213000 4932000 82451000 64566000 17021000 864000 68179000 32630000 35549000 24445000 791000 23654000 2975000 89000 2886000 575000 575000 4612000 4612000 38149000 12763000 25386000 0 12287000 10088000 2199000 0 31332000 18686000 11828000 818000 54668000 13545000 39616000 1507000 19178000 9531000 9647000 45522000 39726000 5727000 69000 87349000 74137000 10031000 3181000 47849000 39829000 4429000 3591000 116479000 100862000 15515000 102000 1880000 1880000 158183000 142291000 15524000 368000 59308000 47392000 11916000 Facilities and Utilities Charges 156914000 104843000 51980000 91000 Subrecipient Agreements 137354000 137354000 Equipment 115270000 96702000 17693000 875000 Lab Supplies 49442000 49180000 262000 315998000 115641000 194187000 6170000 3604394000 2755923000 795763000 52708000 301931000 445092000 2028407000 939525000 624535000 664672000 171262000 199399000 500000 1900000 0 0 45678000 42137000 6797000 6033000 148640000 131292000 4568656000 1477427000 2817053000 3091229000 1622389000 1477062000 14114883000 15178691000 0 0 0 0 0 21882075000 22177032000 564448000 656325000 0 0 76002000 58631000 863471000 850400000 0 0 0 2058760000 2041693000 0 0 756773000 1685207000 4319454000 5292256000 X 7127306000 6614991000 7553447000 7190529000 2881868000 3079256000 0 0 0 0 0 0 17562621000 16884776000 21882075000 22177032000 X 357026000 -519220000 -515651000 X false true X true true true X 894547000 817616000 956016000 985424000 963130000 4616733000 0 0 894547000 817616000 956016000 985424000 963130000 4616733000 0 4616733000 269941000 231493000 257919000 191688000 290513000 1241554000 0 0 0 33297000 0 33297000 0 0 0 0 0 0 5891584000 10171707000 0.7836 0.7673 X false true false false false false true 168918 false true 168918 false Schedule C, Part II-B, Line 1 Description of the Activities Reported on Lines 1A through 1I LINES 1B & 1G FROM TIME TO TIME, MIT ENGAGES IN LOBBYING ACTIVITY USING MIT'S OWN PERSONNEL. MIT'S EFFORTS REGARDING LEGISLATIVE AND RELATED ACTIVITIES IN FY 2016 FOCUSED ON THE AREAS OF LEGISLATION, POLICY AND FUNDING SUPPORT FOR SCIENCE, TECHNOLOGY, EDUCATION, LAND USE AND TAXATION. STAFF ACTIVITIES INCLUDED THE GATHERING AND DISSEMINATION OF INFORMATION TO THE MIT CAMPUS CONCERNING GOVERNMENT ACTIVITIES AND ACTIONS, AS WELL AS MEETINGS AND DISCUSSIONS WITH FEDERAL AND STATE OFFICIALS, ON THE ABOVE ISSUES. LINE 1I MIT PAYS DUES AND IS A MEMBER OF SEVERAL ASSOCIATIONS THAT PROVIDE INFORMATION TO THE HIGHER EDUCATION COMMUNITY AS WELL AS ADVOCATE FOR ISSUES THAT ARE IMPORTANT TO THE SECTOR. A PORTION OF THE DUES PAID TO THESE ORGANIZATIONS MAY BE USED TO LOBBY BY THE ASSOCIATIONS. 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THEY ARE RECEIVED FOR EDUCATIONAL PURPOSES AND GENERALLY DISPLAYED THROUGHOUT MIT. IN GENERAL, COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. Schedule D, Part III, Line 4 Collections of art - description of collections MIT RECORDS ITEMS OF COLLECTIONS OF ART AS A GIFT AT NOMINAL VALUE. THEY ARE RECEIVED FOR EDUCATIONAL PURPOSES AND GENERALLY DISPLAYED THROUGHOUT MIT. IN GENERAL, COLLECTIONS ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. Schedule D, Part V, Line 4 Intended uses of endowment funds MIT'S ENDOWMENT IS INTENDED TO PROVIDE FINANCIAL SUPPORT TO FURTHER MIT'S MISSION OF EDUCATION AND RESEARCH. SPECIFICALLY, MIT'S ENDOWMENT PROVIDES ONGOING SUPPORT FOR GRADUATE AND UNDERGRADUATE STUDENT SCHOLARSHIPS, FELLOWSHIPS AND STUDENT LOANS, PROFESSORSHIPS, THE MAINTENANCE OF MIT'S FACILITIES, AND ACADEMIC DEPARTMENT SUPPORT. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote US GAAP requires MIT to evaluate tax positions taken by the Institute and recognize a tax liability (or asset) if the Institute has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. MIT has analyzed the tax positions taken and has concluded that as of June 30, 2016, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY MIT'S PROSPECTIVE STUDENTS CAN FIND THE INSTITUTE'S RACIALLY NONDISCRIMINATORY POLICY AT ANY TIME DURING THE ADMISSION PROCESS AND THROUGHOUT THE ENTIRE ACADEMIC YEAR AT HTTP://MITADMISSIONS.ORG/PAGES/POLICIES. MIT'S RACIALLY NONDISCRIMINATORY POLICY FOR THE GENERAL COMMUNITY CAN BE FOUND IN MIT'S POLICIES & PROCEDURES 7.1.1. AND 9.2 OR CAN BE FOUND ON THE INSTITUTE'S WEBSITE AT HTTP://WEB.MIT.EDU/POLICIES/. THE INSTITUTE CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE AND WORLDWIDE AND MAKES ITS RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A STATEMENT OF ITS RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS IN ALL ITS BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. THE INSTITUTE ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT MIT RECEIVES PELL, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY AND PERKINS LOANS. true East Asia and the Pacific Program Services Subrecipient Agreements 7025112 Europe (Including Iceland and Greenland) Program Services Subrecipient Agreements 5272673 Middle East and North Africa Program Services Subrecipient Agreements 239730 North America (Canada & Mexico only) Program Services Subrecipient Agreements 249549 South America Program Services Subrecipient Agreements 367513 South Asia Program Services Subrecipient Agreements 1027408 Sub-Saharan Africa Program Services Subrecipient Agreements 1268264 Central America and the Caribbean Grantmaking 14249 East Asia and the Pacific Grantmaking 641285 Europe (Including Iceland and Greenland) Grantmaking 838202 Middle East and North Africa Grantmaking 238208 North America (Canada & Mexico only) Grantmaking 177368 Russia and Neighboring States Grantmaking 21006 South America Grantmaking 310829 South Asia Grantmaking 337671 Sub-Saharan Africa Grantmaking 122676 Central America and the Caribbean 0 Fundraising 444 East Asia and the Pacific 0 Fundraising 1095554 Europe (Including Iceland and Greenland) 0 Fundraising 748611 Middle East and North Africa 0 Fundraising 70560 North America (Canada & Mexico only) 0 Fundraising 42728 South America 0 Fundraising 81523 South Asia 0 Fundraising 58168 Sub-Saharan Africa 0 Fundraising 269 Central America and the Caribbean 1 Program Services Education/Research 312062 East Asia and the Pacific 1 102 Program Services Education/Research 15640895 Europe (Including Iceland and Greenland) 1 112 Program Services Education/Research 13262894 Middle East and North Africa 15 Program Services Education/Research 2090892 North America (Canada & Mexico only) 11 Program Services Education/Research 1575010 Russia and Neighboring States 0 Program Services Education/Research 313835 South America 1 2 Program Services Education/Research 1446943 South Asia 8 Program Services Education/Research 1691003 Sub-Saharan Africa 10 Program Services Education/Research 1245244 Central America and the Caribbean Investments 1131093504 East Asia and the Pacific Investments 373095030 Europe (Including Iceland and Greenland) Investments 253255393 North America (Canada & Mexico only) Investments 21335085 South America Investments 24291005 South Asia Investments 14723964 Sub-Saharan Africa Investments 172442728 0 0 3 261 3 261 18151743 2029913344 2048065087 Public Service Center Grants East Asia and the Pacific 7 29777 Check Public Service Center Grants Europe (Including Iceland and Greenland) 8 38948 Check Public Service Center Grants Middle East and North Africa 3 10250 Check Public Service Center Grants North America (Canada & Mexico only) 6 23275 Check Public Service Center Grants Russia and Neighboring States 1 1500 Check Public Service Center Grants South America 3 15300 Check Public Service Center Grants South Asia 12 38967 Check Public Service Center Grants Sub-Saharan Africa 21 69867 Check MISTI Stipend East Asia and the Pacific 144 471080 Check MISTI Stipend Europe (Including Iceland and Greenland) 332 591166 Check MISTI Stipend Middle East and North Africa 54 211969 Check MISTI Stipend North America (Canada & Mexico only) 51 78500 Check MISTI Stipend Russia and Neighboring States 7 15024 Check MISTI Stipend South America 95 268762 Check MISTI Stipend South Asia 82 249526 Check MISTI Stipend Sub-Saharan Africa 23 3100 Check Fellowships East Asia and the Pacific 21 57842 Check Fellowships Middle East and North Africa 4 6067 Check Fellowships North America (Canada & Mexico only) 11 23600 Check Fellowships South America 3 8744 Check Fellowships South Asia 6 15000 Check Fellowships Sub-Saharan Africa 49 47989 Check Fellowships Europe (Including Iceland and Greenland) 35 58803 Check Fellowships Central America and the Caribbean 6 5734 Check Prizes & Awards East Asia and the Pacific 48 78489 Check Prizes & Awards Middle East and North Africa 9 9021 Check Prizes & Awards North America (Canada & Mexico only) 30 41329 Check Prizes & Awards South America 8 14448 Check Prizes & Awards South Asia 30 31348 Check Prizes & Awards Sub-Saharan Africa 5 1719 Check Prizes & Awards Europe (Including Iceland and Greenland) 66 76452 Check Prizes & Awards Central America and the Caribbean 5 2514 Check Prizes & Awards Russia and Neighboring States 3 1625 Check Honoraria East Asia and the Pacific 5 4096 Check Honoraria Middle East and North Africa 1 900 Check Honoraria North America (Canada & Mexico only) 11 10664 Check Honoraria South America 5 3575 Check Honoraria South Asia 7 2830 Check Honoraria Russia and Neighboring States 1 2857 Check Honoraria Europe (Including Iceland and Greenland) 58 72833 Check true true true true true true Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds MIT PROVIDES SEVERAL TYPES OF GRANTS AND ASSISTANCE TO FOREIGN INDIVIDUALS. FOR PRIZES AND AWARDS, THE INDIVIDUAL MUST HAVE MET THE SPECIFIC CRITERIA FOR THE PARTICULAR PRIZE OR AWARD TO BE SELECTED. IN THE CASE OF FELLOWSHIPS, THE INDIVIDUAL IS REQUIRED TO UTILIZE THE FUNDS IN FURTHERANCE OF THEIR EDUCATION AT MIT. GRANTS ARE MADE IN THE CONTEXT OF ACADEMIC OR RESEARCH PROGRAMS: RECIPIENTS SPEND THEIR GRANT FUNDS UNDER THE SUPERVISION OF THE PROGRAM AND ARE ACCOUNTABLE THROUGH THE PROGRAM FOR THE USE OF THE FUNDS. Schedule F, Part I, Line 3(a) LINE 3A A SUBRECIPIENT AGREEMENT IS A RESEARCH SUBCONTRACT WHERE MIT ENGAGES A THIRD PARTY TO PERFORM EXPERIMENTAL, DEVELOPMENTAL, OR RESEARCH WORK GENERALLY IN CONNECTION WITH A SPONSORED RESEARCH AGREEMENT. Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS MIT PROVIDES SEVERAL TYPES OF GRANTS AND ASSISTANCE TO FOREIGN INDIVIDUALS. FOR PRIZES AND AWARDS, THE INDIVIDUAL MUST HAVE MET THE SPECIFIC CRITERIA FOR THE PARTICULAR PRIZE OR AWARD TO BE SELECTED. IN THE CASE OF FELLOWSHIPS, THE INDIVIDUAL IS REQUIRED TO UTILIZE THE FUNDS IN FURTHERANCE OF THEIR EDUCATION AT MIT. GRANTS ARE MADE IN THE CONTEXT OF ACADEMIC OR RESEARCH PROGRAMS: RECIPIENTS SPEND THEIR GRANT FUNDS UNDER THE SUPERVISION OF THE PROGRAM AND ARE ACCOUNTABLE THROUGH THE PROGRAM FOR THE USE OF THE FUNDS. 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MIT PROVIDES SEVERAL TYPES OF GRANTS AND ASSISTANCE TO INDIVIDUALS AND ORGANIZATIONS. FOR PRIZES AND AWARDS, THE INDIVIDUAL OR ORGANIZATION MUST HAVE MET THE SPECIFIC CRITERIA TO BE SELECTED FOR THE PRIZE OR AWARD. IN THE CASE OF FELLOWSHIPS AND SCHOLARSHIPS, THE INDIVIDUAL IS REQUIRED TO UTILIZE THE FUNDS IN FURTHERANCE OF THEIR EDUCATION AT MIT. MIT MAKES GRANTS TO SEVERAL LOCAL CHAPTERS OF NATIONAL FRATERNITIES, SORORITIES AND INDEPENDENT LIVING GROUPS. THESE ORGANIZATIONS ARE COMPRISED OF MIT STUDENTS, AND HOUSE THESE STUDENTS. GRANTS ARE MADE TO SUPPORT THE OPERATIONAL COSTS OF THE EDUCATIONAL PURPOSES OF THE HOUSES (SO THAT THE HOUSES STAY CONSISTENT WITH MIT'S MISSION). IN ORDER FOR AN ORGANIZATION TO RECEIVE AN INDEPENDENT RESIDENCE DEVELOPMENT FUND (IRDF) GRANT, THEY MUST GO THROUGH A RIGOROUS APPLICATION PROCESS. MIT GENERALLY DOES NOT MAKE DISBURSEMENTS TO INDIVIDUALS OR ORGANIZATIONS FOR CHARITABLE PURPOSES, EXCEPT THROUGH THE MIT COMMUNITY SERVICE FUND. THIS FUND'S RESOURCES COME PRIMARILY FROM CONTRIBUTIONS FROM MEMBERS OF THE MIT COMMUNITY. MIT DISBURSES THESE FUNDS FOR CHARITABLE PURPOSES INCLUDING SMALL GRANTS, INSUBSTANTIAL IN THE AGGREGATE, TO LOCALLY BASED CHARITABLE ORGANIZATIONS FOR THE PURPOSE OF FOSTERING BETTER COMMUNITY RELATIONS. PROCEDURES OF THE INSTITUTE WITH RESPECT TO ADMISSIONS, SCHOLARSHIPS, FELLOWSHIPS, AND STUDENT LOANS ARE PUBLICIZED IN THE INSTITUTE BULLETIN WHICH CONSTITUTES ITS CATALOGUE. GRANTS ARE MADE IN THE CONTEXT OF ACADEMIC OR RESEARCH PROGRAMS: RECIPIENTS SPEND THEIR GRANT FUNDS UNDER THE SUPERVISION OF THE PROGRAM AND ARE ACCOUNTABLE THROUGH THE PROGRAM FOR THE USE OF THE FUNDS. X X X X X true true X X X X X false true false false false false false true false L Rafael Reif President 858694 0 0 0 59161 0 13250 0 109912 0 1041017 0 0 0 Robert B Millard Chairman of the Corporation 315548 0 0 0 0 0 2747 0 26712 0 345007 0 0 0 Israel Ruiz Executive VP and Treasurer 553032 0 0 0 28032 0 23850 0 26341 0 631255 0 0 0 Susan Hockfield President Emerita & Professor 685378 0 0 0 31111 0 50350 0 29857 0 796696 0 0 0 R Gregory Morgan Senior VP and Secretary of the Corporation 583205 0 18000 0 32274 0 45050 0 26313 0 704842 0 0 0 Claude Canizares (Former Vice President) Professor 376513 0 0 0 8625 0 13250 0 21798 0 420186 0 0 0 Phillip Clay (Former Chancellor) Professor 317140 0 0 0 5669 0 13250 0 20526 0 356585 0 0 0 W Eric Grimson (Former Chancellor) Chancellor for Academic Advancement 360544 0 0 0 8628 0 13250 0 28276 0 410698 0 0 0 Chris Kaiser (Former Provost) Professor 388793 0 0 0 57326 0 39750 0 21112 0 506981 0 0 0 Cynthia Barnhart Chancellor 373970 0 0 0 6945 0 39750 0 26080 0 446745 0 0 0 Martin A Schmidt Provost 521560 0 0 0 24980 0 39750 0 76916 0 663206 0 0 0 Seth Alexander President of MITIMCo 619417 0 1100504 0 34000 0 23850 0 28056 0 1805827 0 0 0 Kirk Kolenbrander Vice President 331775 0 0 0 10938 0 34450 0 31948 0 409111 0 0 0 Mark DiVincenzo VP and General Counsel 359371 0 0 0 2410 0 34450 0 28085 0 424316 0 0 0 Eric Evans Director of Lincoln Laboratory 457648 0 0 0 19000 0 34450 0 28725 0 539823 0 0 0 Maria Zuber VP for Research 368344 0 0 0 10298 0 39750 0 21684 0 440076 0 0 0 Julie Lucas VP for Resource Development 433609 0 45000 0 38712 0 16018 0 10223 0 543562 0 0 0 Sanjay Sarma VP for Open Learning 273352 0 0 0 75300 0 29150 0 29929 0 407731 0 0 0 Steven Marsh Managing Director - MITIMCo 514214 0 800972 0 24000 0 39750 0 28260 0 1407196 0 0 0 Ivan Werning Professor - Economics 607065 0 0 0 261870 0 23850 0 4295 0 897080 0 0 0 Thomas Wieand Global Investment Professional - MITIMCo 365944 0 473729 0 9000 0 23850 0 26529 0 899052 0 0 0 Daron Acemoglu Professor - Economics 779737 0 0 0 50000 0 29150 0 28016 0 886903 0 0 0 Steven Eppinger Professor - Sloan 331403 0 0 0 451533 0 34450 0 29509 0 846895 0 0 0 Schedule J, Part II, Column (B)(iii) ROW 23 SCHEDULE J, PART II, COLUMN B(III) - THE MIT SLOAN SCHOOL OF MANAGEMENT OFFERS A BROAD RANGE OF EXECUTIVE EDUCATION AND PROFESSIONAL DEVELOPMENT PROGRAMS DEVELOPED AND LED BY ITS FACULTY AND FOLLOWS MIT'S WRITTEN SUPPLEMENTAL COMPENSATION GUIDELINES FOR FACULTY WHO PARTICIPATE IN THESE PROGRAMS. Schedule J, Part II, Column (C) SCHEDULE J, PART II, COLUMN (C) DOES NOT INCLUDE $259,875 OF INCENTIVE COMPENSATION FOR MR. ALEXANDER, $187,500 OF INCENTIVE COMPENSATION FOR MR. MARSH, AND $118,750 OF INCENTIVE COMPENSATION FOR MR. WIEAND AWARDED IN JANUARY 2015. THESE AMOUNTS CAN INCREASE OR DECREASE DEPENDING ON THE PERFORMANCE OF THE ENDOWMENT AND ARE CONTINGENT ON CONTINUED EMPLOYMENT BY MIT. Schedule J, Part II FORM 990, PART VII THE INDIVIDUALS DISCLOSED IN PART VII OF FORM 990 OFTEN DEVOTE MORE HOURS TO THEIR POSITION THAN THE NUMBER OF HOURS LISTED, WHICH REPRESENT ESTIMATES OF AVERAGE HOURS. INDIVIDUALS WHO ARE ALSO ON THE BOARDS OF MIT'S SUBSIDIARIES AND RELATED ORGANIZATIONS WORK AN ADDITIONAL ESTIMATE OF 1 TO 3 HOURS PER WEEK AS LISTED IN COLUMN (B) OF FORM 990, PART VII. Schedule J, Part I, Line 1a First-class or charter travel SCHEDULE J, PART I, LINES 1A AND B MIT FOLLOWS A WRITTEN POLICY OR WRITTEN EMPLOYMENT AGREEMENT WITH RESPECT TO THE PAYMENT OR REIMBURSEMENT OF ALL OF THE EXPENSES SPECIFIED IN PART I, LINE 1A THAT MIT PAYS OR REIMBURSES. MIT ALLOWS BUSINESS/FIRST CLASS TRAVEL AND COMPANION TRAVEL PURSUANT TO GUIDELINES INCLUDED IN A WRITTEN TRAVEL POLICY. ALL MIT EMPLOYEES, INCLUDING OFFICERS, TRUSTEES, KEY EMPLOYEES AND HIGHLY COMPENSATED INDIVIDUALS, ARE SUBJECT TO THE SAME WRITTEN TRAVEL POLICY. Schedule J, Part I, Line 1a Travel for companions COMPANION TRAVEL IS ONLY REIMBURSED BY MIT IF THERE IS A BONA FIDE BUSINESS PURPOSE FOR THE COMPANION TO TRAVEL,CONSISTENT WITH MIT'S WRITTEN POLICY. DOCUMENTATION OF THE COMPANION'S BUSINESS PURPOSE IS REQUIRED. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments ONE OF THE INDIVIDUALS DISCLOSED IN SCHEDULE J RECEIVES LIMITED TAX INDEMNIFICATION AND GROSS UP PAYMENTS. ALL TAX INDEMNIFICATION AND GROSS UP PAYMENTS ARE PURSUANT TO A WRITTEN EMPLOYMENT AGREEMENT. Schedule J, Part I, Line 1a Housing allowance or residence for personal use THE MIT PRESIDENT IS REQUIRED TO LIVE IN AN MIT OWNED CAMPUS RESIDENCE AS A CONDITION OF EMPLOYMENT AND AS A CONVENIENCE TO MIT. IRS RULES REQUIRE MIT TO ESTIMATE A VALUE FOR SUCH USE AND TO INCLUDE THE VALUE IN THE PRESIDENT'S TOTAL COMPENSATION AS A "NONTAXABLE BENEFIT" (SCHEDULE J, PART II, COLUMN (D)). AS CALCULATED PURSUANT TO IRS RULES, THE ESTIMATED VALUE IS $88,800 FOR PRESIDENT REIF IN CALENDAR YEAR 2015. MIT PAYS FOR HOUSEKEEPING OF THE PUBLIC AREAS OF THE HOUSE AND MIT INCLUDES IN THE PRESIDENT'S TAXABLE INCOME AN AMOUNT OF EXPENSES RELATING TO HOUSEKEEPING SERVICES FOR THE PORTION OF THE MIT OWNED RESIDENCE USED BY THE PRESIDENT'S FAMILY AS THEIR PRIVATE RESIDENCE. Schedule J, Part I, Line 1a Personal services AS DESCRIBED UNDER THE HOUSING EXPLANATION, MIT PAYS FOR HOUSEKEEPING OF THE PUBLIC AREAS OF THE HOUSE AND MIT INCLUDES IN THE PRESIDENT'S TAXABLE INCOME AN AMOUNT OF EXPENSES RELATED TO HOUSEKEEPING SERVICES FOR THE PORTION OF THE MIT OWNED RESIDENCE USED BY THE PRESIDENT'S FAMILY AS THEIR PRIVATE RESIDENCE. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan IN CALENDAR YEAR 2012 FORMER PRESIDENT HOCKFIELD VESTED IN A NONQUALIFIED DEFERRED ANNUITY ARRANGEMENT, WITH RESPECT TO WHICH (I) NO CONTRIBUTIONS WERE MADE IN CALENDAR YEAR 2015, AND (II) SHE DID NOT BEGIN TO RECEIVE PAYMENTS UNTIL 2016. Schedule J, Part I, Line 7 Non-fixed payments THE MIT INVESTMENT MANAGEMENT COMPANY PAYS CERTAIN EMPLOYEES NON-FIXED AMOUNTS PURSUANT TO AN INCENTIVE COMPENSATION PROGRAM THAT BASES COMPENSATION PAYMENTS ON A NUMBER OF FACTORS. THE PRIMARY BASIS FOR INCENTIVE COMPENSATION PAYMENTS IS THE PERFORMANCE OF MIT'S ENDOWMENT RELATIVE TO PEER AND MARKET BENCHMARKS. THIS IS A COMMON PRACTICE IN HIGHER ED ENDOWMENT MANAGEMENT. FROM TIME TO TIME, MIT MAY OFFER OTHER EMPLOYEES BONUS PAYMENTS FOR OUTSTANDING PERFORMANCE. A MASSACHUSETTS HEALTH & EDUCATIONAL FAC 042456011 57585K3G1 2003-05-07 204790814 CONSTRUCTION/RENOVATION/REFUNDING false false false B MASSACHUSETTS HEALTH & EDUCATIONAL FAC 042456011 57586CBP9 2004-04-02 150854243 CONSTRUCTION AND RENOVATION false false false C MASSACHUSETTS HEALTH & EDUCATIONAL FAC 042456011 57586ECM1 2009-01-08 274996289 CONSTRUCTION AND RENOVATION true false false A 43190000 0 205361234 0 0 0 1040170 0 0 204321064 0 2005 true false true true B 18695000 0 151599210 0 0 0 854243 0 0 150744967 0 2005 false false true true C 0 178460000 276649117 0 0 0 1558146 0 0 275090971 0 2010 false false true true A false false true false true false 0.009 0.009 false false true B false false true false true false 0.0094 0.0094 false false true C false false true false true false 0.0219 0.0219 false false true A false true false false false false true B false true false false false false true C false true false false false false true A true B true C true Schedule K, Part III Lines 3B & 3D MIT ROUTINELY REVIEWS RESEARCH AGREEMENTS RELATING TO ITS BOND-FINANCED PROPERTY FOR PRIVATE BUSINESS USE, USING EITHER IN-HOUSE COUNSEL, OUTSIDE COUNSEL, OR PROFESSIONAL CONTRACT REVIEWERS WHO HAVE EXTENSIVE EXPERIENCE WITH RESPECT TO THE PRIVATE BUSINESS USE RULES AND THE SAFE HARBORS SET FORTH IN REV. PROC. 2007-47 AND REV. PROC. 97-13. Schedule K, Part II LINE 3 TOTAL PROCEEDS ARE NOT IDENTICAL TO THE ISSUE PRICE LISTED IN PART I COLUMN (E) DUE TO INVESTMENT EARNINGS. Schedule K, Part III Line 4 PRIVATE BUSINESS USE ADDITIONAL INFORMATION SINCE THE IRS FIRST ISSUED ITS UNDERLYING REVENUE PROCEDURES 1997-13 AND 1997-14, IT HAS BEEN MIT'S POLICY TO ENSURE THAT ITS MANAGEMENT CONTRACTS FALL WITHIN REVENUE PROCEDURE 97-13'S SAFE HARBOR, AND THAT ITS PRIVATE SPONSORED RESEARCH CONTRACTS FALL WITHIN THE REVENUE PROCEDURE 2007-47'S SAFE HARBOR (TOGETHER, THESE TWO TYPES OF CONTRACTS ARE REFERRED TO IN THIS FORM 990 AS "OUTSIDE CONTRACTS"). THIS POLICY ENSURES THAT IN THE UNLIKELY EVENT THAT PRIVATE BUSINESS USE MIGHT ARISE THAT SUCH USE WILL BE MAINTAINED AT A LEVEL THAT IS BELOW THE 5% SAFE HARBOR OF EACH BOND ISSUE. MIT REGULARLY REVIEWS ITS PROCEDURES IN ORDER TO ENSURE COMPLIANCE WITH ITS PRIVATE BUSINESS USE POLICY. Schedule K, Part I, Column (a) Line A DETAILS OF REFUNDED BOND ISSUES: HEFA SERIES L BOND (ISSUED MAY 7, 2003) WAS USED FOR CONSTRUCTION AND RENOVATIONS AND TO REFUND HEFA SERIES H BOND ISSUED ON APRIL 6, 1993. HEFA SERIES H BOND WAS USED FOR CONSTRUCTION TO REFUND HEFA SERIES D BOND ISSUED MAY 14, 1980. SUSAN HOCKFIELD PRESIDENT EMERITA & PROFESSOR MORTGAGE X 500000 500000 false true true 500000 CHILDREN'S SCHOLARSHIP CHILDREN OF QUALIFIED FACULTY 74600 SCHOLARSHIP SCHOLARSHIP SEE PART V SEE PART V SEE PART V false Schedule L, Part III LINE 1 - CHILDREN'S SCHOLARSHIPS ALTHOUGH THERE MAY BE RECIPIENTS WHO ARE RELATED TO PERSONS HAVING AN INTEREST IN THE INSTITUTE, SUCH RECIPIENTS ARE SELECTED ON THE BASIS OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. Schedule L, Part IV PART IV MS. PAMELA EVANS IS A RESEARCH GROUP LEADER AT MIT LINCOLN LABORATORY. MS. EVANS IS A FAMILY MEMBER OF AN MIT KEY EMPLOYEE. IN FY 2016, SHE RECEIVED COMPENSATION AND BENEFITS IN THE AMOUNT OF $259,163. X 23 0 NONE X NONE X NONE X 697 35409302 Market value X 3 3 Market value X 1 4500 Market value X 21 6196778 Market value X 2 0 NONE X EQUIPMENT 11 430708 Market value X ARCHIVAL RECORDS 22 0 NONE X OTHER 6 NONE 6 false true true Schedule M, Part I LINE 33 MIT RECORDS ITEMS OF COLLECTIONS AS A GIFT AT NOMINAL VALUE. THEY ARE RECEIVED FOR EDUCATIONAL PURPOSES AND GENERALLY DISPLAYED THROUGHOUT MIT.THEY ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions MIT REAL ESTATE FOUNDATION, INC.'S PRIMARY PURPOSE IS TO HOLD AND SELL GIFTS OF REAL ESTATE AND PROPERTY FOR THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - : NUMBER OF CONTRIBUTIONS Securities - Publicly traded - : NUMBER OF ITEMS Securities - Closely held stock - : NUMBER OF ITEMS Securities - Partnership, LLC, or trust interests - : NUMBER OF ITEMS Securities - Miscellaneous - : NUMBER OF ITEMS Scientific specimens - : NUMBER OF CONTRIBUTIONS Other - EQUIPMENT: NUMBER OF CONTRIBUTIONS Other - ARCHIVAL RECORDS: NUMBER OF CONTRIBUTIONS Other - OTHER: NUMBER OF CONTRIBUTIONS Form 990, Part III, Line 4d Description of other program services (Expenses $ 159,185,000 including grants of $ 3,203,000)(Revenue $ 233,917,000) THIS ITEM CONSISTS OF OTHER EXPENDITURES (INCLUDING GRANTS) INCURRED, AND REVENUES GENERATED IN CONNECTION WITH MIT'S OTHER PROGRAM SERVICES RELATED TO VARIOUS ACTIVITIES IN FURTHERANCE OF AND IN SUPPORT OF MIT'S EXEMPT MISSION WHICH INCLUDED BUT WERE NOT LIMITED TO SUCH THINGS AS FEES AND SERVICES (FOR EXAMPLE, MEDICAL DEPARTMENT, TECHNOLOGY LICENSING OFFICE), AUXILIARY ENTERPRISES (FOR EXAMPLE, HOUSING, DINING), AND OTHER MISCELLANEOUS PROGRAM SERVICE REVENUE. Form 990, Part VI, Line 1a THE MIT BYLAWS VEST IN THE EXECUTIVE COMMITTEE OF THE MIT CORPORATION THE RESPONSIBILITY FOR OVERSEEING THE GENERAL ADMINISTRATION AND SUPERINTENDENCE OF ALL MATTERS RELATING TO MIT, INCLUDING ITS EDUCATIONAL AND RESEARCH PROGRAMS, ADMINISTRATION PERFORMANCE, FINANCIAL AFFAIRS, ENDOWMENT, REAL PROPERTY, POLICIES, SYSTEMS, CONTROLS, SPECIAL CONTRACT SERVICES, AND FACULTY TENURE DECISION APPROVAL. THE EXECUTIVE COMMITTEE CONSISTS OF 13 MEMBERS AND MEETS 10 TIMES EACH YEAR. THE MIT CORPORATION IS A BODY CURRENTLY COMPRISED OF 78 INDIVIDUALS (REFERRED TO AS MEMBERS OF THE CORPORATION), INCLUDING DISTINGUISHED LEADERS IN SCIENCE, ENGINEERING, INDUSTRY, EDUCATION AND PUBLIC SERVICE. CONSISTENT WITH THE MIT BYLAWS, THE CORPORATION MEMBERS ACT AS STEWARDS OF THE PUBLIC TRUST TO PRESERVE MIT'S MISSION. THE CORPORATION MEETS 4 TIMES EACH YEAR. RECOGNIZING THE SPECIFIC OVERSIGHT RESPONSIBILITY OF THE EXECUTIVE COMMITTEE FOR MIT'S OPERATIONS, MIT TREATS THE EXECUTIVE COMMITTEE AS MIT'S GOVERNING BODY FOR PURPOSES OF RESPONDING TO THE FORM 990. Form 990, Part VI, Line 2 SETH ALEXANDER AND R. GREGORY MORGAN ARE MEMBERS OF THE INVESTMENT COMMITTEE AND UNDERWRITING COMMITTEE, RESPECTIVELY, OF CRICO. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE MIT CORPORATION ELECTS THE NON EX-OFFICIO MEMBERS OF MIT'S GOVERNING BODY (THE EXECUTIVE COMMITTEE OF THE CORPORATION). EX-OFFICIO MEMBERS OF THE EXECUTIVE COMMITTEE ARE THE CHAIR OF THE CORPORATION, THE PRESIDENT, THE EXECUTIVE VICE-PRESIDENT AND TREASURER, AND THE CHAIR OF THE INVESTMENT MANAGEMENT COMPANY BOARD OF DIRECTORS. Form 990, Part VI, Line 11b Review of form 990 by governing body MIT'S OFFICERS RESPONSIBLE FOR MIT'S TAX MATTERS PREPARE MIT'S FORM 990 WITH EXTENSIVE ASSISTANCE FROM MIT'S ACADEMIC AND ADMINISTRATIVE UNITS. SENIOR MIT OFFICERS THEN REVIEW THE FORM 990. FOLLOWING THAT REVIEW AND BEFORE THE FORM 990 IS FILED, MIT'S RISK AND AUDIT COMMITTEE AND EXECUTIVE COMMITTEE (MIT'S GOVERNING BODY) ARE PROVIDED WITH THE FORM AND RELATED SCHEDULES FOR THEIR REVIEW AND COMMENT. Form 990, Part VI, Line 12c Conflict of interest policy MONITORING AND ENFORCING COMPLIANCE WITH CONFLICT OF INTEREST POLICIES DISCLOSURE: MIT HAS TWO PRIMARY CONFLICT OF INTEREST POLICIES - THE POLICY CONCERNING AVOIDANCE OF CONFLICTS OF INTEREST WHICH COVERS ALL INDIVIDUALS SERVING ON THE MIT EXECUTIVE COMMITTEE (MIT'S GOVERNING BODY) AND CORPORATION, AND THE SECTION OF MIT'S POLICIES AND PROCEDURES TITLED CONFLICT OF INTEREST, WHICH IS GENERALLY APPLICABLE TO MEMBERS OF THE MIT COMMUNITY. ANNUAL DISCLOSURE BOTH POLICIES REQUIRE THAT COVERED INDIVIDUALS ANNUALLY ACKNOWLEDGE IN WRITING THAT THEY ARE AWARE OF THE POLICY AND IDENTIFY ANY RELATIONSHIPS OR RESPONSIBILITIES THAT HAVE THE POTENTIAL OF PRODUCING CONFLICTS OF INTEREST. EACH YEAR, DISCLOSURE FORMS ARE DISTRIBUTED TO THOSE COVERED BY THESE POLICIES. IF A RESPONSE REVEALS A CONFLICT OR POTENTIAL CONFLICT, SUCH CONFLICT IS REFERRED TO THE APPROPRIATE INDIVIDUAL OR BODY FOR CONSIDERATION AND MANAGEMENT. AD HOC DISCLOSURE IN ADDITION TO THE ANNUAL DISCLOSURE PROCESS, POTENTIAL CONFLICTS OF INTEREST OF INDIVIDUALS SERVING ON THE MIT EXECUTIVE COMMITTEE, ON THE CORPORATION OR AS OFFICERS ARE RAISED, CONSIDERED AND ADDRESSED ON AN AD HOC BASIS. UNDER THE POLICY CONCERNING AVOIDANCE OF CONFLICTS OF INTEREST, IF A MATTER COMES BEFORE THE CORPORATION OR EXECUTIVE COMMITTEE THAT INVOLVES A PERSONAL OR BUSINESS OR OTHER FINANCIAL INTEREST OF A MEMBER OR OFFICER OF THE CORPORATION OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY, THE INDIVIDUAL IS REQUIRED TO DISCLOSE THE INTEREST, REFRAIN FROM PARTICIPATING IN THE DISCUSSION OF THE MATTER, EXCEPT AS NECESSARY TO ANSWER QUESTIONS ASKED BY THE OTHER CORPORATION OR EXECUTIVE COMMITTEE MEMBERS, AND REFRAIN FROM VOTING AND BEING PRESENT WHEN THE VOTE WAS TAKEN. IF THE MATTER INVOLVES ONGOING DECISION MAKING OR INVOLVEMENT, THE CORPORATION OR EXECUTIVE COMMITTEE CONTINUES TO MONITOR AND MANAGE THE CONFLICT. WITH RESPECT TO OFFICERS, MIT RELIES UPON A COMBINATION OF THE ANNUAL DISCLOSURES, THE OFFICERS' OBLIGATIONS TO DEVOTE THEIR FULL TIME AND EFFORT TO THE INSTITUTE, THE OFFICERS' FIDUCIARY OBLIGATION TO THE INSTITUTE AND THE OFFICERS' JUDGMENT TO ENSURE THAT CONFLICTS ARE IDENTIFIED. IF A CONFLICT IS IDENTIFIED, THE CONFLICT IS EITHER ELIMINATED OR MANAGED. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE SALARY SUBCOMMITTEE, A SUBCOMMITTEE OF THE EXECUTIVE COMMITTEE OF THE MIT CORPORATION, REVIEWS DATA REGARDING PAY COMPARISONS OF OTHER PEER INSTITUTIONS. THE DATA ARE COLLECTED AND PRESENTED TO MIT BY WILLIS TOWERS WATSON AND ANALYZED BY THE COMPENSATION DEPARTMENT OF MIT'S HUMAN RESOURCES DEPARTMENT AND MIT'S VICE PRESIDENT FOR HUMAN RESOURCES. RECOMMENDATIONS FOR SALARY INCREASES ARE PRESENTED TO THE SALARY SUBCOMMITTEE BASED ON PERFORMANCE FEEDBACK COLLECTED. THE DATA AND PERFORMANCE FEEDBACK ARE DISCUSSED AND A FINAL RECOMMENDATION IS APPROVED. NOTIFICATION IS MADE TO THE COMPENSATION DEPARTMENT AND FORMS ARE CREATED TO BE SIGNED BY ONE MEMBER OF THE SALARY SUBCOMMITTEE. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE SALARY SUBCOMMITTEE, A SUBCOMMITTEE OF THE EXECUTIVE COMMITTEE OF THE MIT CORPORATION, REVIEWS DATA REGARDING PAY COMPARISONS OF OTHER PEER INSTITUTIONS. THE DATA ARE COLLECTED AND PRESENTED TO MIT BY WILLIS TOWERS WATSON AND ANALYZED BY THE COMPENSATION DEPARTMENT OF MIT'S HUMAN RESOURCES DEPARTMENT AND MIT'S VICE PRESIDENT FOR HUMAN RESOURCES. RECOMMENDATIONS FOR SALARY INCREASES ARE PRESENTED TO THE SALARY SUBCOMMITTEE BASED ON PERFORMANCE FEEDBACK COLLECTED. THE DATA AND PERFORMANCE FEEDBACK ARE DISCUSSED AND A FINAL RECOMMENDATION IS APPROVED. NOTIFICATION IS MADE TO THE COMPENSATION DEPARTMENT AND FORMS ARE CREATED TO BE SIGNED BY ONE MEMBER OF THE SALARY SUBCOMMITTEE. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE ON MIT'S WEBSITE HTTP://WEB.MIT.EDU. Form 990, Part XI, Line 9 Other changes in net assets or fund balances NET CHANGE IN LIFE INCOME FUNDS - -11918000; POSTRETIREMENT PLAN CHANGES OTHER THAN NET PERIODIC BENEFIT COSTS - -XXX-XX-XXXX; OTHER - -1000; MIT Foundation (UK) Limited 19 Norcott Road London UK 981192046 MIT Support UK 430898 17856 Massachusetts Institute of Technology MIT Private Equity LLC 238 Main Street c/o MIT Cambridge MA 01242 043490003 Investments DE 8920 40696 Massachusetts Institute of Technology MIT Private Equity Management Company LLC 238 Main Street c/o MIT Cambridge MA 01242 043490002 Investments DE 40571 157219 Massachusetts Institute of Technology MIT Private Equity Management Company II LLC 238 Main Street c/o MIT Cambridge MA 01242 431964717 Investments DE 33029 86769 Massachusetts Institute of Technology MIT Private Equity Management Company III LLC 238 Main Street c/o MIT Cambridge MA 01242 204639870 Investments DE 399177 912915 Massachusetts Institute of Technology MIT Private Equity 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THIS INTEREST IS ENTIRELY PASSIVE AND PURELY ECONOMIC AS MIT POSSESSES ONLY THE RIGHT TO RECEIVE DIVIDENDS WHICH MAY BE DISTRIBUTED ON THE SHARES. THE CLASS B SHARES HAVE NO VOTING POWER OVER BOARD MEMBERSHIP, CORPORATE LIQUIDATION OR SALE, OR OTHER CORPORATE GOVERNANCE AND OPERATIONS ISSUES. AS A CLASS B SHAREHOLDER, MIT IS NOT PERMITTED TO SELL ITS STOCK WITHOUT THE EXPRESS APPROVAL OF BOSE'S BOARD. PUBLIC DISCLOSURE OF CERTAIN DETAILS ABOUT THE GIFT COULD PUT BOSE CORPORATION AT A COMPETITIVE DISADVANTAGE.* * SEVERAL IRS PRONOUNCEMENTS HAVE MADE IT CLEAR THAT THE FORM 990 IS NOT INTENDED TO PUT A DISCLOSED DONOR AT A POTENTIAL COMPETITIVE DISADVANTAGE. Schedule R, Part II AS A RESULT OF MIT'S CONTROL OF AN ORGANIZATION THAT CONTROLS ANOTHER ORGANIZATION WHICH SERVES AS THE CENTRAL ORGANIZATION UNDER A GROUP EXEMPTION, MIT HAS RELATED ORGANIZATIONS THAT ARE SUBORDINATE ORGANIZATIONS INCLUDED IN A GROUP EXEMPTION. PURSUANT TO IRS INSTRUCTIONS, THESE ORGANIZATIONS ARE NOT REQUIRED TO BE SEPARATELY LISTED ON SCHEDULE R.