MASSACHUSETTS INSTITUTE OF TECHNOLOGY: Form 990, tax year 2011

View the entire original 990 at ProPublica ↗

Organization
MASSACHUSETTS INSTITUTE OF TECHNOLOGY (EIN 04-2103594)
Tax period
2011-07-01 to 2012-06-30
Filed
2013-05-14
IRS object ID
201321349349305167
Schema version
2011v1.5
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Timestamp2013-05-14T15:15:30-05:00Timestamp
Tax Period End Date2012-06-30TaxPeriodEndDate
Return Type990ReturnType
Tax Period Begin Date2011-07-01TaxPeriodBeginDate

Filer Filer

FieldValueIRS element (for citing)
EIN042103594EIN

Name Name

FieldValueIRS element (for citing)
Business Name Line1Massachusetts Institute of TechnologyBusinessNameLine1
FieldValueIRS element (for citing)
In Care Of Name% BASIL A STEWARTInCareOfName
Name ControlMASSNameControl
Phone6172532777Phone

US Address USAddress

FieldValueIRS element (for citing)
Address Line177 MASSACHUSETTS AVENUE NE49-3142AddressLine1
CityCambridgeCity
StateMAState
ZIP Code021394307ZIPCode

Officer Officer

FieldValueIRS element (for citing)
NameISRAEL RUIZName
TitleEXEC. VP & TREASURERTitle
Date Signed2013-05-09DateSigned
FieldValueIRS element (for citing)
Tax Year2011TaxYear
Build TS2016-02-24 21:20:13ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Name Of Principal Officer PersonSUSAN HOCKFIELDNameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

FieldValueIRS element (for citing)
Address Line177 MASSACHUSETTS AVENUEAddressLine1
CityCambridgeCity
StateMAState
ZIP Code02139ZIPCode
FieldValueIRS element (for citing)
Gross Receipts55690823000GrossReceipts
Group Return For AffiliatesfalseGroupReturnForAffiliates
Organization501c3XOrganization501c3
Web SiteHTTP://WEB.MIT.EDUWebSite
Type Of Organization CorporationXTypeOfOrganizationCorporation
Year Formation1861YearFormation
State Legal DomicileMAStateLegalDomicile
Activity Or Mission DescriptionTHE 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.ActivityOrMissionDescription
Nbr Voting Members Governing Body12NbrVotingMembersGoverningBody
Nbr Independent Voting Members8NbrIndependentVotingMembers
Total Nbr Employees22085TotalNbrEmployees
Total Nbr Volunteers7497TotalNbrVolunteers
Total Gross UBI14042000TotalGrossUBI
Net Unrelated Business Txbl Income-6091316NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year970793000ContributionsGrantsPriorYear
Contributions Grants Current Year894547000ContributionsGrantsCurrentYear
Program Service Revenue Prior Year1656130000ProgramServiceRevenuePriorYear
Program Service Revenue CY1770381000ProgramServiceRevenueCY
Investment Income Prior Year494038000InvestmentIncomePriorYear
Investment Income Current Year406218000InvestmentIncomeCurrentYear
Other Revenue Prior Year371350000OtherRevenuePriorYear
Other Revenue Current Year284289000OtherRevenueCurrentYear
Total Revenue Prior Year3492311000TotalRevenuePriorYear
Total Revenue Current Year3355435000TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year426813000GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY457816000GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year0BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY0BenefitsPaidToMembersCY
Salaries Etc Prior Year1134414000SalariesEtcPriorYear
Salaries Etc Current Year1195801000SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year449000TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY358000TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year28109000TotalFundrsngExpCurrentYear
Other Expense Prior Year1236251000OtherExpensePriorYear
Other Expenses Current Year1730628000OtherExpensesCurrentYear
Total Expenses Prior Year2797927000TotalExpensesPriorYear
Total Expenses Current Year3384603000TotalExpensesCurrentYear
Revenues Less Expenses Prior Year694384000RevenuesLessExpensesPriorYear
Revenues Less Expenses CY-29168000RevenuesLessExpensesCY
Total Assets BOY15997478000TotalAssetsBOY
Total Assets EOY16769229000TotalAssetsEOY
Total Liabilities BOY3865395000TotalLiabilitiesBOY
Total Liabilities EOY4221173000TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY12132083000NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY12548056000NetAssetsOrFundBalancesEOY
Info In Schedule O Part IIIXInfoInScheduleOPartIII
Mission DescriptionTHE 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.MissionDescription
Significant New Program ServicesfalseSignificantNewProgramServices
Significant ChangefalseSignificantChange
Expense691903000Expense
Grants130468000Grants
Revenue579772000Revenue
DescriptionINSTRUCTION AND UNSPONSORED RESEARCH: MIT IS COMMITTED TO PROVIDING A WORLD-CLASS EDUCATION TO OUR APPROXIMATELY 4,400 UNDERGRADUATES AND APPROXIMATELY 6,500 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.Description

Activity2 Activity2

FieldValueIRS element (for citing)
Expense1306977000Expense
Grants72908000Grants
Revenue1290524000Revenue
DescriptionSPONSORED 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.Description

Activity3 Activity3

FieldValueIRS element (for citing)
Expense251709000Expense
Grants251709000Grants
DescriptionSCHOLARSHIPS 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 2012, APPROXIMATELY 64% 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.Description
FieldValueIRS element (for citing)
Total Of Other Program Service Exp439074000TotalOfOtherProgramServiceExp
Total Of Other Program Service Grnt2731000TotalOfOtherProgramServiceGrnt
Total Of Other Program Service Rev8418000TotalOfOtherProgramServiceRev
Total Program Service Expense2689663000TotalProgramServiceExpense
Described In501 C3trueDescribedIn501C3
Schedule B RequiredtrueScheduleBRequired
Political ActivitiesfalsePoliticalActivities
Lobbying ActivitiestrueLobbyingActivities
Subject To Proxy TaxfalseSubjectToProxyTax
Donor Advised FundsfalseDonorAdvisedFunds
Conservation EasementsfalseConservationEasements
Collections Of ArttrueCollectionsOfArt
Credit CounselingfalseCreditCounseling
Term Or Permanent EndowmentstrueTermOrPermanentEndowments
Report Land Bldg EquiptrueReportLandBldgEquip
Report Invest Oth SecuritiestrueReportInvestOthSecurities
Report Prog Rel InvestfalseReportProgRelInvest
Report Other AssetsfalseReportOtherAssets
Report Other LiabilitiestrueReportOtherLiabilities
Report Fin48 FootnotefalseReportFin48Footnote
Independent Audit Financial StmtfalseIndependentAuditFinancialStmt
Consolidated Audit Financial StmttrueConsolidatedAuditFinancialStmt
SchooltrueSchool
Foreign OfficetrueForeignOffice
Foreign ActivitiestrueForeignActivities
More Than5000 K To OrganizationsfalseMoreThan5000KToOrganizations
More Than5000 K To IndividualstrueMoreThan5000KToIndividuals
Professional FundraisingtrueProfessionalFundraising
Fundraising ActivitiesfalseFundraisingActivities
GamingfalseGaming
HospitalfalseHospital
Grants To OrganizationstrueGrantsToOrganizations
Grants To IndividualstrueGrantsToIndividuals
Schedule J RequiredtrueScheduleJRequired
Tax Exempt BondstrueTaxExemptBonds
Invest Tax Exempt BondsfalseInvestTaxExemptBonds
Escrow AccountfalseEscrowAccount
On Behalf Of IssuerfalseOnBehalfOfIssuer
Excess Benefit TransactionfalseExcessBenefitTransaction
Prior Excess Benefit TransactionfalsePriorExcessBenefitTransaction
Loan To Officer Or DQPtrueLoanToOfficerOrDQP
Grant To Related PersontrueGrantToRelatedPerson
Bsnss Rltnshp With OrganizationfalseBsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family MembertrueBsnssRltnshpThruFamilyMember
Officer Entity With Bsnss RltnshptrueOfficerEntityWithBsnssRltnshp
Deductible Non Cash ContributionstrueDeductibleNonCashContributions
Deductible Contributions Of ArttrueDeductibleContributionsOfArt
TerminatedfalseTerminated
Partial LiquidationfalsePartialLiquidation
Disregarded EntitytrueDisregardedEntity
Related EntitytrueRelatedEntity
Related Org Controlled EntitytrueRelatedOrgControlledEntity
Transaction Related EntitytrueTransactionRelatedEntity
Transfers To Exempt Non Chrtbl OrgtrueTransfersToExemptNonChrtblOrg
Activities Conducted PartnershipfalseActivitiesConductedPartnership
Schedule O RequiredtrueScheduleORequired
Info In Schedule O Part VXInfoInScheduleOPartV
Number Forms Transmitted With109624274NumberFormsTransmittedWith1096
Number W2 G Included0NumberW2GIncluded
Compliance With Backup WitholdingtrueComplianceWithBackupWitholding
Number Of Employees22085NumberOfEmployees
Employment Tax Returns FiledtrueEmploymentTaxReturnsFiled
Unrelated Business IncometrueUnrelatedBusinessIncome
Form990-T FiledtrueForm990-TFiled
Foreign Financial AccounttrueForeignFinancialAccount
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTrans
Taxable Party NotificationfalseTaxablePartyNotification
Non Deductible ContributionsfalseNonDeductibleContributions
Quid Pro Quo ContributionstrueQuidProQuoContributions
Quid Pro Quo DisclosuretrueQuidProQuoDisclosure
Form8282 Property Disposed OftrueForm8282PropertyDisposedOf
Number Of8282 Filed1NumberOf8282Filed
Funds To Pay PremiumsfalseFundsToPayPremiums
Premiums PaidfalsePremiumsPaid
Indoor Tanning ServicesfalseIndoorTanningServices
Info In Schedule O Part VIXInfoInScheduleOPartVI
Nbr Voting Governing Body Members12NbrVotingGoverningBodyMembers
Number Independent Voting Members8NumberIndependentVotingMembers
Family Or Business RelationshiptrueFamilyOrBusinessRelationship
Delegation Of Management DutiesfalseDelegationOfManagementDuties
Changes To Organizing DocsfalseChangesToOrganizingDocs
Material Diversion Or MisusefalseMaterialDiversionOrMisuse
Members Or StockholdersfalseMembersOrStockholders
Election Of Board MemberstrueElectionOfBoardMembers
Decisions Subject To ApprovalfalseDecisionsSubjectToApproval
Minutes Of Governing BodytrueMinutesOfGoverningBody
Minutes Of CommitteestrueMinutesOfCommittees
Officer Mailing AddressfalseOfficerMailingAddress
Local ChapterstrueLocalChapters
Policies Reference ChaptersfalsePoliciesReferenceChapters
Form990 Provided To Governing BodytrueForm990ProvidedToGoverningBody
Conflict Of Interest PolicytrueConflictOfInterestPolicy
Annual Disclosure Covered PersonstrueAnnualDisclosureCoveredPersons
Regular Monitoring EnforcementtrueRegularMonitoringEnforcement
Whistleblower PolicytrueWhistleblowerPolicy
Document Retention PolicytrueDocumentRetentionPolicy
Compensation Process CEOtrueCompensationProcessCEO
Compensation Process OthertrueCompensationProcessOther
Investment In Joint VenturetrueInvestmentInJointVenture
Written Policy Or ProceduretrueWrittenPolicyOrProcedure
States Where Copy Of Return Is FiledMAStatesWhereCopyOfReturnIsFiled
States Where Copy Of Return Is FiledOKStatesWhereCopyOfReturnIsFiled
Upon RequestXUponRequest

The Books Are In Care Of TheBooksAreInCareOf

FieldValueIRS element (for citing)
Name PersonBASIL A STEWARTNamePerson
Telephone Number6172532777TelephoneNumber

Address US AddressUS

FieldValueIRS element (for citing)
Address Line177 MASSACHUSETTS AVENUE NE49-3142AddressLine1
CityCambridgeCity
StateMAState
ZIP Code02139ZIPCode
FieldValueIRS element (for citing)
Info In Schedule O Part VIIXInfoInScheduleOPartVII

Form990 Part VII Section A Form990PartVIISectionA (27 entries)

TitleTitleAverage Hours Per WeekAverageHoursPerWeekIndividual Trustee Or DirectorIndividualTrusteeOrDirectorReportable Comp From OrganizationReportableCompFromOrganizationReportable Comp From Related OrgsReportableCompFromRelatedOrgsOther CompensationOtherCompensationOfficerOfficerKey EmployeeKeyEmployeeHighest Compensated EmployeeHighestCompensatedEmployeeFormerFormer
DENIS BOVIN
EXECUTIVE COMMITTEE MEMBER5.0X000
JAMES CHAMPY
EXECUTIVE COMMITTEE MEMBER5.0X000
LAWRENCE FISH
EXECUTIVE COMMITTEE MEMBER5.0X000
ROBERT MILLARD
EXECUTIVE COMMITTEE MEMBER5.0X000
A NEIL PAPPALARDO
EXECUTIVE COMMITTEE MEMBER5.0X000
BARRIE ZESIGER
EXECUTIVE COMMITTEE MEMBER5.0X000
JOHN REED
CHAIRMAN OF THE CORPORATION30.0X25522005156X
SUSAN HOCKFIELD
PRESIDENT60.0X10421100157767X
THERESA STONE OUTGOING
EXECUTIVE VP & TREASURER60.0X569496017317X
ISRAEL RUIZ INCOMING
EXECUTIVE VP & TREASURER60.0X331156046710X
DIANE GREENE
EXECUTIVE COMMITTEE MEMBER5.0X000
HENRICUS TERMEER
EXECUTIVE COMMITTEE MEMBER5.0X000
ARTHUR SAMBERG
EXECUTIVE COMMITTEE MEMBER5.0X000
KIRK KOLENBRANDER
VP & SECRETARY OF THE CORP.60.0244266060426X
SETH ALEXANDER
PRESIDENT OF MITIMCO60.01128025047916X
R GREGORY MORGAN
VP & GENERAL COUNSEL60.0544123068064X
JEFFREY NEWTON
VP OF RESOURCE DEVELOPMENT60.0386613046829X
L RAFAEL REIF
PROVOST60.0593132065153X
CLAUDE CANIZARES
VICE PRESIDENT FOR RESEARCH60.0332889024003X
ERIC EVANS
DIRECTOR OF LINCOLN LAB60.0396964056908X
W ERIC GRIMSON
CHANCELLOR60.0274417067583X
DAVID SCHMITTLEIN
DEAN SLOAN SCHOOL OF MGMT60.0733502043557X
NELSON REPENNING
PROFESSOR SLOAN SCHOOL OF MGMT60.0685771049559X
STEVEN MARSH
MANAGING DIRECTOR - MITIMCO60.0676408057773X
STEVE EPPINGER
PROFESSOR SLOAN SCHOOL OF MGMT60.0682396060942X
RICHARD LOCKE
DEPT HEAD & PROFESSOR60.0656078097351X
PHILLIP CLAY FORMER KEY EMPLOYEE
Professor60.0318738032083X
FieldValueIRS element (for citing)
Total Reportable Comp From Org9851304TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs0TotalReportableCompFrmRltdOrgs
Total Other Compensation1005097TotalOtherCompensation
Number Individuals GT100 K2466NumberIndividualsGT100K
Formers ListedtrueFormersListed
Total Comp GT150 KtrueTotalCompGT150K
Compensation From Other SourcesfalseCompensationFromOtherSources

Contractor Compensation ContractorCompensation (5 entries)

Address Line1AddressOfContractor/AddressUS/AddressLine1CityAddressOfContractor/AddressUS/CityStateAddressOfContractor/AddressUS/StateZIP CodeAddressOfContractor/AddressUS/ZIPCodeDescription Of ServicesDescriptionOfServicesCompensationCompensation
WILLIAM A BERRY SONS INC
99 CONIFER HILL DRIVEDANVERSMA01923CONSTRUCTION14197446
WALSH BROTHERS INC
210 COMMERCIAL STREETBOSTONMA02109CONSTRUCTION12548677
BOND BROTHERS INC
145 SPRING STREETEVERETTMA02149CONSTRUCTION15004860
SHAWMUT DESIGN CONSTRUCTION CO
560 HARRISON AVEBOSTONMA02118CONSTRUCTION49968139
ALEXANDRIA REAL ESTATE INC AREE
700 TECHNOLOGY SQUARECAMBRIDGEMA02139MANAGEMENT10702062
FieldValueIRS element (for citing)
Number Of Contractors GT100 K571NumberOfContractorsGT100K
Related Organizations2161000RelatedOrganizations
Government Grants397920000GovernmentGrants
All Other Contributions494466000AllOtherContributions
Noncash Contributions24544000NoncashContributions
Total Contributions894547000TotalContributions

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncomeUnrelated Business RevenueUnrelatedBusinessRevenue
SPONSORED RESEARCH CONTRACTS90009910995860001099586000
FEES AND SERVICES22100091023000884760002547000
OTHER PROGRAMS9000994543700045437000
TUITION900099534335000534335000
FieldValueIRS element (for citing)
Total Program Service Revenue1770381000TotalProgramServiceRevenue

Investment Income InvestmentIncome

FieldValueIRS element (for citing)
Total Revenue Column84578000TotalRevenueColumn
Unrelated Business Revenue11218000UnrelatedBusinessRevenue
Exclusion$73,360,000ExclusionAmount

Income From Invest Bond Proceeds IncomeFromInvestBondProceeds

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Royalties Revenue RoyaltiesRevenue

FieldValueIRS element (for citing)
Total Revenue Column128368000TotalRevenueColumn
Exclusion$128,368,000ExclusionAmount

Gross Rents GrossRents

FieldValueIRS element (for citing)
Real68213000Real

Less Rental Expenses LessRentalExpenses

FieldValueIRS element (for citing)
Real20625000Real

Rental Income Or Loss RentalIncomeOrLoss

FieldValueIRS element (for citing)
Real47588000Real

Net Rental Income Or Loss NetRentalIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column47588000TotalRevenueColumn
Exclusion$47,588,000ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

FieldValueIRS element (for citing)
Securities52636403000Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

FieldValueIRS element (for citing)
Securities52314763000Securities

Gain Or Loss GainOrLoss

FieldValueIRS element (for citing)
Securities321640000Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

FieldValueIRS element (for citing)
Total Revenue Column321640000TotalRevenueColumn
Exclusion$321,640,000ExclusionAmount

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income From Gaming NetIncomeFromGaming

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Net Income Or Loss NetIncomeOrLoss

FieldValueIRS element (for citing)
Total Revenue Column0TotalRevenueColumn

Other Revenue Misc OtherRevenueMisc (2 entries)

DescriptionDescriptionBusiness CodeBusinessCodeTotal Revenue ColumnTotalRevenueColumnRelated Or Exempt Function IncomeRelatedOrExemptFunctionIncomeUnrelated Business RevenueUnrelatedBusinessRevenue
AUXILIARY ENTERPRISES511120101761000101484000277000
CHANGE IN LIFE INCOME FUNDS90009965720006572000
FieldValueIRS element (for citing)
Total Other Revenue108333000TotalOtherRevenue

Total Revenue TotalRevenue

FieldValueIRS element (for citing)
Total Revenue Column3355435000TotalRevenueColumn
Related Or Exempt Function Income1875890000RelatedOrExemptFunctionIncome
Unrelated Business Revenue14042000UnrelatedBusinessRevenue
Exclusion$570,956,000ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

FieldValueIRS element (for citing)
Total980000Total
Program Services980000ProgramServices

Grants To Domestic Individuals GrantsToDomesticIndividuals

FieldValueIRS element (for citing)
Total455085000Total
Program Services455085000ProgramServices

Foreign Grants ForeignGrants

FieldValueIRS element (for citing)
Total1751000Total
Program Services1751000ProgramServices

Benefits To Members BenefitsToMembers

FieldValueIRS element (for citing)
Total0Total

Comp Current Officers Directors CompCurrentOfficersDirectors

FieldValueIRS element (for citing)
Total6421000Total
Program Services1109000ProgramServices
Management And General4539000ManagementAndGeneral
Fundraising773000Fundraising

Comp Disqual Persons CompDisqualPersons

FieldValueIRS element (for citing)
Total678000Total
Program Services373000ProgramServices
Management And General305000ManagementAndGeneral

Other Salaries And Wages OtherSalariesAndWages

FieldValueIRS element (for citing)
Total954644000Total
Program Services782472000ProgramServices
Management And General156677000ManagementAndGeneral
Fundraising15495000Fundraising

Pension Plan Contributions PensionPlanContributions

FieldValueIRS element (for citing)
Total29655000Total
Program Services24483000ProgramServices
Management And General4985000ManagementAndGeneral
Fundraising187000Fundraising

Other Employee Benefits OtherEmployeeBenefits

FieldValueIRS element (for citing)
Total138518000Total
Program Services112530000ProgramServices
Management And General23461000ManagementAndGeneral
Fundraising2527000Fundraising

Payroll Taxes PayrollTaxes

FieldValueIRS element (for citing)
Total65885000Total
Program Services54152000ProgramServices
Management And General11025000ManagementAndGeneral
Fundraising708000Fundraising

Fees For Services Management FeesForServicesManagement

FieldValueIRS element (for citing)
Total36986000Total
Program Services25731000ProgramServices
Management And General11255000ManagementAndGeneral

Fees For Services Legal FeesForServicesLegal

FieldValueIRS element (for citing)
Total20262000Total
Program Services495000ProgramServices
Management And General19767000ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

FieldValueIRS element (for citing)
Total788000Total
Program Services16000ProgramServices
Management And General772000ManagementAndGeneral

Fees For Services Lobbying FeesForServicesLobbying

FieldValueIRS element (for citing)
Total0Total

Fees For Services Prof Fundraising FeesForServicesProfFundraising

FieldValueIRS element (for citing)
Total358000Total
Fundraising358000Fundraising

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

FieldValueIRS element (for citing)
Total18871000Total
Management And General18871000ManagementAndGeneral

Fees For Services Other FeesForServicesOther

FieldValueIRS element (for citing)
Total51936000Total
Program Services26852000ProgramServices
Management And General25084000ManagementAndGeneral

Advertising Advertising

FieldValueIRS element (for citing)
Total6709000Total
Program Services5400000ProgramServices
Management And General1309000ManagementAndGeneral

Office Expenses OfficeExpenses

FieldValueIRS element (for citing)
Total27296000Total
Program Services18290000ProgramServices
Management And General8075000ManagementAndGeneral
Fundraising931000Fundraising

Information Technology InformationTechnology

FieldValueIRS element (for citing)
Total46304000Total
Program Services36371000ProgramServices
Management And General9333000ManagementAndGeneral
Fundraising600000Fundraising

Royalties Royalties

FieldValueIRS element (for citing)
Total37514000Total
Program Services18654000ProgramServices
Management And General18860000ManagementAndGeneral

Occupancy Occupancy

FieldValueIRS element (for citing)
Total23022000Total
Program Services17831000ProgramServices
Management And General5166000ManagementAndGeneral
Fundraising25000Fundraising

Travel Travel

FieldValueIRS element (for citing)
Total69336000Total
Program Services62383000ProgramServices
Management And General5097000ManagementAndGeneral
Fundraising1856000Fundraising

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

FieldValueIRS element (for citing)
Total0Total

Conferences Meetings ConferencesMeetings

FieldValueIRS element (for citing)
Total33889000Total
Program Services29026000ProgramServices
Management And General4070000ManagementAndGeneral
Fundraising793000Fundraising

Interest Interest

FieldValueIRS element (for citing)
Total107689000Total
Program Services93466000ProgramServices
Management And General14118000ManagementAndGeneral
Fundraising105000Fundraising

Payments To Affiliates PaymentsToAffiliates

FieldValueIRS element (for citing)
Total1676000Total
Program Services1676000ProgramServices

Depreciation Depletion DepreciationDepletion

FieldValueIRS element (for citing)
Total123010000Total
Program Services105509000ProgramServices
Management And General17326000ManagementAndGeneral
Fundraising175000Fundraising

Insurance Insurance

FieldValueIRS element (for citing)
Total55640000Total
Program Services44441000ProgramServices
Management And General11199000ManagementAndGeneral

Other Expenses OtherExpenses (4 entries)

DescriptionDescriptionTotalTotalProgram ServicesProgramServicesManagement And GeneralManagementAndGeneralFundraisingFundraising
PENSION RELATED39446900032769400066775000
SUBRECIPIENT AGREEMENTS118892000118892000
FACILITIES CHARGES10273600055651000453720001713000
EQUIPMENT RENTAL AND MAIN1071670008424100022777000149000

All Other Expenses AllOtherExpenses

FieldValueIRS element (for citing)
Total346436000Total
Program Services184109000ProgramServices
Management And General160613000ManagementAndGeneral
Fundraising1714000Fundraising

Total Functional Expenses TotalFunctionalExpenses

FieldValueIRS element (for citing)
Total3384603000Total
Program Services2689663000ProgramServices
Management And General666831000ManagementAndGeneral
Fundraising28109000Fundraising

Cash Non Interest Bearing CashNonInterestBearing

FieldValueIRS element (for citing)
BOY104974000BOY
EOY224890000EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

FieldValueIRS element (for citing)
BOY1156826000BOY
EOY1599874000EOY

Pledges And Grants Receivable PledgesAndGrantsReceivable

FieldValueIRS element (for citing)
BOY491376000BOY
EOY546383000EOY

Accounts Receivable AccountsReceivable

FieldValueIRS element (for citing)
BOY260216000BOY
EOY207676000EOY

Receivables From Officers Etc ReceivablesFromOfficersEtc

FieldValueIRS element (for citing)
BOY218000BOY
EOY890000EOY

Receivables From Disqual Persons ReceivablesFromDisqualPersons

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Other Notes Loans Receivable Net OtherNotesLoansReceivableNet

FieldValueIRS element (for citing)
BOY49539000BOY
EOY49529000EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

FieldValueIRS element (for citing)
BOY5783000BOY
EOY6031000EOY

Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges

FieldValueIRS element (for citing)
BOY64206000BOY
EOY87583000EOY
FieldValueIRS element (for citing)
Land Buildings Equipment Basis3543466000LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec1047021000LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

FieldValueIRS element (for citing)
BOY2444909000BOY
EOY2496445000EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

FieldValueIRS element (for citing)
BOY1635778000BOY
EOY1141480000EOY

Investments Other Securities InvestmentsOtherSecurities

FieldValueIRS element (for citing)
BOY9669938000BOY
EOY10408448000EOY

Investments Program Related InvestmentsProgramRelated

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Intangible Assets IntangibleAssets

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Other Assets Total OtherAssetsTotal

FieldValueIRS element (for citing)
BOY113715000BOY
EOY0EOY

Total Assets TotalAssets

FieldValueIRS element (for citing)
BOY15997478000BOY
EOY16769229000EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

FieldValueIRS element (for citing)
BOY446052000BOY
EOY460763000EOY

Grants Payable GrantsPayable

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Deferred Revenue DeferredRevenue

FieldValueIRS element (for citing)
BOY29189000BOY
EOY83580000EOY

Tax Exempt Bond Liabilities TaxExemptBondLiabilities

FieldValueIRS element (for citing)
BOY1481636000BOY
EOY1473764000EOY

Escrow Account Liability EscrowAccountLiability

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Loans From Officers Directors LoansFromOfficersDirectors

FieldValueIRS element (for citing)
BOY0BOY
EOY0EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

FieldValueIRS element (for citing)
BOY985598000BOY
EOY986238000EOY

Unsecured Notes Loans Payable UnsecuredNotesLoansPayable

FieldValueIRS element (for citing)
BOY591000BOY
EOY301000EOY

Other Liabilities OtherLiabilities

FieldValueIRS element (for citing)
BOY922329000BOY
EOY1216527000EOY

Total Liabilities TotalLiabilities

FieldValueIRS element (for citing)
BOY3865395000BOY
EOY4221173000EOY
FieldValueIRS element (for citing)
Follow SFAS117XFollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

FieldValueIRS element (for citing)
BOY4629673000BOY
EOY4637664000EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY5044519000BOY
EOY5297554000EOY

Permanently Restricted Net Assets PermanentlyRestrictedNetAssets

FieldValueIRS element (for citing)
BOY2457891000BOY
EOY2612838000EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY12132083000BOY
EOY12548056000EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

FieldValueIRS element (for citing)
BOY15997478000BOY
EOY16769229000EOY
FieldValueIRS element (for citing)
Info In Schedule O Part XIXInfoInScheduleOPartXI
Reconcilation Revenue Expenses-29168000ReconcilationRevenueExpenses
Reconcilation Other Changes445141000ReconcilationOtherChanges
Method Of Accounting AccrualXMethodOfAccountingAccrual
Accountant Compile Or ReviewfalseAccountantCompileOrReview
FS AuditedtrueFSAudited
Audit CommitteetrueAuditCommittee
Financial Statement ConsolidatedXFinancialStatementConsolidated
Federal Grant Audit RequiredtrueFederalGrantAuditRequired
Federal Grant Audit PerformedtrueFederalGrantAuditPerformed

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
School170b1 AiiXSchool170b1Aii

Schedule B IRS990ScheduleB

Contributor Info ContributorInfo

FieldValueIRS element (for citing)
Contributor NumberRESTRICTEDContributorNumber

Contributor Name Business ContributorNameBusiness

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor Address US ContributorAddressUS

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Aggregate ContributionsRESTRICTEDAggregateContributions

Schedule C IRS990ScheduleC

FieldValueIRS element (for citing)
Total Grassroots LobbyingTotalGrassrootsLobbying
Total Direct LobbyingTotalDirectLobbying
Total Lobbying ExpendituresTotalLobbyingExpenditures
Other Exempt Purpose ExpendituresOtherExemptPurposeExpenditures
Total Exempt Purpose ExpendituresTotalExemptPurposeExpenditures
Lobbying NontaxableLobbyingNontaxableAmount
Grassroots NontaxableGrassrootsNontaxableAmount
Tot Lobbying Grassroot Minus Non TxTotLobbyingGrassrootMinusNonTx
Tot Lobby Expend Mns Lobbying NontxTotLobbyExpendMnsLobbyingNontx
VolunteersfalseVolunteers
Paid Staff Or ManagementtruePaidStaffOrManagement
Media AdvertisementsfalseMediaAdvertisements
Mailings MemberstrueMailingsMembers
Publications Or BroadcastfalsePublicationsOrBroadcast
Grants Other OrganizationsfalseGrantsOtherOrganizations
Direct Contact LegislatorstrueDirectContactLegislators
Direct Contact Legislators$223,922DirectContactLegislatorsAmount
Rallies DemonstrationsfalseRalliesDemonstrations
Other ActivitiestrueOtherActivities
Total Lobbying Expenditures IIB223922TotalLobbyingExpendituresIIB
Not Described In501c3falseNotDescribedIn501c3

Form990 Schedule C Part IV Form990ScheduleCPartIV (2 entries)

IdentifierIdentifierExplanationExplanation
SCHEDULE C, PART II-B, LINE 1B, 1D & 1GFROM TIME TO TIME, MIT ENGAGES IN LOBBYING ACTIVITY USING MIT'S OWN PERSONNEL. MIT'S EFFORTS REGARDING LEGISLATIVE AND RELATED ACTIVITIES IN FY 2012 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.
SCHEDULE C, PART II-B, LINE 1IMIT 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.

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Art Public Exhibition AmtsArtPublicExhibitionAmts
Held Works Of Art AmtsHeldWorksOfArtAmts
Collect Used For Public ExhibitionXCollectUsedForPublicExhibition
Collect Used For Scholar ResearchXCollectUsedForScholarResearch
Collect Used For PreservationXCollectUsedForPreservation
Solicited Assets For SalefalseSolicitedAssetsForSale

Current Year CurrentYear

FieldValueIRS element (for citing)
Beginning Of Year Balance9853574000BeginningOfYearBalance
Contributions180985000Contributions
Investment Earnings Or Losses754548000InvestmentEarningsOrLosses
Grants Or Scholarships93944000GrantsOrScholarships
Other Expenditures374661000OtherExpenditures
Administrative Expenses12229000AdministrativeExpenses
End Of Year Balance10308273000EndOfYearBalance

Current Year Minus1 Year CurrentYearMinus1Year

FieldValueIRS element (for citing)
Beginning Of Year Balance8463458000BeginningOfYearBalance
Contributions313644000Contributions
Investment Earnings Or Losses1431852000InvestmentEarningsOrLosses
Grants Or Scholarships88414000GrantsOrScholarships
Other Expenditures254932000OtherExpenditures
Administrative Expenses12034000AdministrativeExpenses
End Of Year Balance9853574000EndOfYearBalance

Current Year Minus2 Years CurrentYearMinus2Years

FieldValueIRS element (for citing)
Beginning Of Year Balance8151805000BeginningOfYearBalance
Contributions61779000Contributions
Investment Earnings Or Losses768418000InvestmentEarningsOrLosses
Grants Or Scholarships104997000GrantsOrScholarships
Other Expenditures396737000OtherExpenditures
Administrative Expenses16810000AdministrativeExpenses
End Of Year Balance8463458000EndOfYearBalance

Current Year Minus3 Years CurrentYearMinus3Years

FieldValueIRS element (for citing)
Beginning Of Year Balance10234500000BeginningOfYearBalance
Contributions112805000Contributions
Investment Earnings Or Losses-1707012000InvestmentEarningsOrLosses
Grants Or Scholarships100900000GrantsOrScholarships
Other Expenditures380108000OtherExpenditures
Administrative Expenses7480000AdministrativeExpenses
End Of Year Balance8151805000EndOfYearBalance
FieldValueIRS element (for citing)
Board Designated EOY Balance0.29134BoardDesignatedEOYBalance
Permanent Endowment EOY Balance0.24437PermanentEndowmentEOYBalance
Term Endowment EOY Balance0.46429TermEndowmentEOYBalance
Endowments Held By Unrelated OrgstrueEndowmentsHeldByUnrelatedOrgs
Endowments Held By Related OrgstrueEndowmentsHeldByRelatedOrgs
Are Related Orgs Listed Schedule RtrueAreRelatedOrgsListedScheduleR

Land Land

FieldValueIRS element (for citing)
Other Cost Or Other Basis65198000OtherCostOrOtherBasis
Book Value65198000BookValue

Buildings Buildings

FieldValueIRS element (for citing)
Other Cost Or Other Basis3193746000OtherCostOrOtherBasis
Depreciation1014092000Depreciation
Book Value2179654000BookValue

Leasehold Improvements LeaseholdImprovements

FieldValueIRS element (for citing)
Other Cost Or Other Basis64299000OtherCostOrOtherBasis
Depreciation375000Depreciation
Book Value63924000BookValue

Equipment Equipment

FieldValueIRS element (for citing)
Other Cost Or Other Basis220223000OtherCostOrOtherBasis
Depreciation32554000Depreciation
Book Value187669000BookValue
FieldValueIRS element (for citing)
Other Land BuildingsOtherLandBuildings
Total Of Book Value Land Buildings2496445000TotalOfBookValueLandBuildings
Financial DerivativesFinancialDerivatives
Closely Held Equity InterestsCloselyHeldEquityInterests

Other Securities OtherSecurities (8 entries)

DescriptionDescriptionBook ValueBookValueMethod Of ValuationMethodOfValuation
NONCONTROLLING INTERESTS304436000F
FIXED INCOME408501000F
EQUITIES5315125000F
MARKETABLE ALTERNATIVES1676886000F
REAL ESTATE2574934000F
SPLIT INTEREST AGREEMENTS121816000F
OTHER1748000F
INT.RATE, CREDIT & DERIVATIVES5002000F
FieldValueIRS element (for citing)
Total Of Book Value Securities10408448000TotalOfBookValueSecurities
Federal Income Tax Liability0FederalIncomeTaxLiability

Other Liabilities OtherLiabilities (5 entries)

DescriptionDescriptionAmountAmount
WITHHOLDINGS, DEPOSITS AND OTH$16,509,000
NONCONTROLLING INTERESTS$304,436,000
ADVANCE PAYMENTS$418,081,000
GOVERNMENT ADVANCES$34,103,000
ACCRUED BENEFITS$443,398,000
FieldValueIRS element (for citing)
Total Of Amounts1216527000TotalOfAmounts

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)

IdentifierIdentifierExplanationExplanation
PART III, LINE 1A AND LINE 4AS NOTED IN MIT'S AUDITED FINANCIAL STATEMENTS, MIT RECORDS ITEMS OF COLLECTIONS 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.
PART V, LINE 4MIT'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.
PART X, FIN 48REGARDING REQUIRED "FIN 48" FINANCIAL STATEMENT DISCLOSURE, ANY UNCERTAIN TAX POSITIONS IN THE FISCAL YEAR ENDED JUNE 30, 2012 WERE IMMATERIAL AND THEREFORE DID NOT REQUIRE A FOOTNOTE.

Schedule E IRS990ScheduleE

FieldValueIRS element (for citing)
Nondiscriminatory Policy StmttrueNondiscriminatoryPolicyStmt
Policy Statement In Brochures EtctruePolicyStatementInBrochuresEtc
Policy Publ Via Broadcast MediatruePolicyPublViaBroadcastMedia
Maint Racial Composition RecordstrueMaintRacialCompositionRecords
Maint Scholarships RecordstrueMaintScholarshipsRecords
Maint Copies Of Brochures EtctrueMaintCopiesOfBrochuresEtc
Maint Copies Of All SolicitationstrueMaintCopiesOfAllSolicitations
Discriminate Race Students RightsfalseDiscriminateRaceStudentsRights
Discriminate Race Admiss PoliciesfalseDiscriminateRaceAdmissPolicies
Discriminate Race Emplmn FacultyfalseDiscriminateRaceEmplmnFaculty
Discriminate Race ScholarshipsfalseDiscriminateRaceScholarships
Discriminate Race Educ PoliciesfalseDiscriminateRaceEducPolicies
Discriminate Race Use Of FcltsfalseDiscriminateRaceUseOfFclts
Discriminate Race Athletic ProgfalseDiscriminateRaceAthleticProg
Discriminate Race Other ActyfalseDiscriminateRaceOtherActy
Government Financial Aid ReceivedtrueGovernmentFinancialAidReceived
Government Financial Aid RevokedfalseGovernmentFinancialAidRevoked
Compliance With Rev Proc7550trueComplianceWithRevProc7550

Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)

IdentifierIdentifierExplanationExplanation
PART I, LINE 3MIT'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. 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 NON-DISCRIMINATORY POLICY AS TO STUDENTS KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY IT SERVES BY INCLUDING A STATEMENT OF ITS RACIALLY NON-DISCRIMINATORY 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.
PART I, LINE 6AMIT RECEIVES PELL, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY AND PERKINS LOANS.

Schedule F IRS990ScheduleF

FieldValueIRS element (for citing)
Grant Records MaintainedtrueGrantRecordsMaintained

Accts Actvs Out US Table AcctsActvsOutUSTable (37 entries)

RegionRegionType Of Activities ConductedTypeOfActivitiesConductedSpecific Services ProvidedSpecificServicesProvidedTotal ExpendituresTotalExpendituresNumber Of EmployeesNumberOfEmployeesNumber Of OfficesNumberOfOffices
East Asia and the PacificProgram ServicesSubrecipient Agreement3305219
Europe (Including Iceland and Greenland)Program ServicesSubrecipient Agreement2661163
Middle East and North AfricaProgram ServicesSubrecipient Agreement34267
North AmericaProgram ServicesSubrecipient Agreement220954
South AsiaProgram ServicesSubrecipient Agreement611974
Sub-Saharan AfricaProgram ServicesSubrecipient Agreement280894
Russia and the Newly Independent StatesProgram ServicesSubrecipient Agreement34367
Central America and the CaribbeanGrantmaking76277
East Asia and the PacificGrantmaking204517
Europe (Including Iceland and Greenland)Grantmaking33900
Middle East and North AfricaGrantmaking92119
North AmericaGrantmaking84718
Russia and the Newly Independent StatesGrantmaking33900
South AsiaGrantmaking326362
Sub-Saharan AfricaGrantmaking76277
South AmericaGrantmaking204517
East Asia and the PacificFundraising6646455
Europe (Including Iceland and Greenland)Fundraising47055511
Middle East and North AfricaFundraising60135
North AmericaFundraising181512
South AmericaFundraising67616
South AsiaFundraising876481
Sub-Saharan AfricaFundraising403471
Central America and the CaribbeanProgram ServicesEducation/Research2305591
East Asia and the PacificProgram ServicesEducation/Research11764124431
Europe (Including Iceland and Greenland)Program ServicesEducation/Research1031776739
Middle East and North AfricaProgram ServicesEducation/Research11669245
North AmericaProgram ServicesEducation/Research8721183
Russia and the Newly Independent StatesProgram ServicesEducation/Research11014961
South AmericaProgram ServicesEducation/Research7786722
South AsiaProgram ServicesEducation/Research8346152
Sub-Saharan AfricaProgram ServicesEducation/Research6948521
Central America and the CaribbeanInvestments1464524000
Europe (Including Iceland and Greenland)Investments190193000
Middle East and North AfricaInvestments16000
North AmericaInvestments2019000
Sub-Saharan AfricaInvestments79462000
FieldValueIRS element (for citing)
Subtotal Number Of Employees5SubtotalNumberOfEmployees
Cont Number Of Offices1ContNumberOfOffices
Cont Number Of Employees112ContNumberOfEmployees
Total Number Of Offices1TotalNumberOfOffices
Total Number Of Employees117TotalNumberOfEmployees
Subtotal Amount Spent8946070SubtotalAmountSpent
Cont Amount Spent1764719579ContAmountSpent
Total Amount Spent1773665649TotalAmountSpent

Grants To Ind Outside US GrantsToIndOutsideUS (35 entries)

Type Of AssistanceTypeOfAssistanceRegionRegionNumber Of RecipientsNumberOfRecipientsAmount Of Cash GrantAmountOfCashGrantManner Of Cash DisbursementMannerOfCashDisbursementDescription Of Non Cash AssistanceDescriptionOfNonCashAssistanceMethod Of ValuationMethodOfValuation
PSC FellowshipCent. America/Caribbean36630CHECKn/an/a
PSC FellowshipEast Asia/Pacific620700CHECKn/an/a
PSC FellowshipNorth America23300CHECKn/an/a
PSC FellowshipSouth America12400CHECKn/an/a
PSC FellowshipSouth Asia1244700CHECKn/an/a
PSC FellowshipSub-Saharan Africa1033468CHECKn/an/a
MISTI StipendEast Asia/Pacific107560286CHECKn/an/a
MISTI StipendEurope/Iceland/Greenland140238616CHECKn/an/a
MISTI StipendMiddle East/North Africa74310303CHECKn/an/a
MISTI StipendNorth America1519430CHECKn/an/a
MISTI StipendSouth America39192324CHECKn/an/a
MISTI StipendSouth Asia4431500CHECKn/an/a
HonorariaEast Asia/Pacific79271CHECKn/an/a
HonorariaEurope/Iceland/Greenland2025606CHECKn/an/a
HonorariaMiddle East/North Africa26000CHECKn/an/a
HonorariaNorth America116686CHECKn/an/a
HonorariaSouth America13000CHECKn/an/a
HonorariaSouth Asia44001CHECKn/an/a
HonorariaSub-Saharan Africa1525CHECKn/an/a
Prizes & AwardsCent. America/Caribbean222470CHECKn/an/a
Prizes & AwardsEast Asia/Pacific4148942CHECKn/an/a
Prizes & AwardsEurope/Iceland/Greenland2929576CHECKn/an/a
Prizes & AwardsMiddle East/North Africa715143CHECKn/an/a
Prizes & AwardsRussia75371CHECKn/an/a
Prizes & AwardsSouth America46429CHECKn/an/a
Prizes & AwardsSouth Asia1519900CHECKn/an/a
Prizes & AwardsSub-Saharan Africa2917CHECKn/an/a
FellowshipsCent. America/Caribbean24159CHECKn/an/a
FellowshipsEast Asia/Pacific33989CHECKn/an/a
FellowshipsEurope/Iceland/Greenland1937177CHECKn/an/a
FellowshipsMiddle East/North Africa31171CHECKn/an/a
FellowshipsNorth America35000CHECKn/an/a
FellowshipsRussia712003CHECKn/an/a
FellowshipsSouth Asia912246CHECKn/an/a
FellowshipsSub-Saharan Africa47451CHECKn/an/a
FieldValueIRS element (for citing)
Transfer To Foreign CorptrueTransferToForeignCorp
Interest In Foreign TrusttrueInterestInForeignTrust
Own Foreign CorptrueOwnForeignCorp
Passive Foreign Invest CotruePassiveForeignInvestCo
Foreign PartnershiptrueForeignPartnership
Boycott CountriestrueBoycottCountries

Form990 Schedule F Part V Form990ScheduleFPartV

FieldValueIRS element (for citing)
IdentifierSCHEDULE F, PART I, LINE 2Identifier
ExplanationMIT 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 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.Explanation

Schedule G IRS990ScheduleG

FieldValueIRS element (for citing)
Mail SolicitationsXMailSolicitations
Email SolicitationsXEmailSolicitations
Phone SolicitationsXPhoneSolicitations
In Person SolicitationsXInPersonSolicitations
Solicitation Of Non Govt GrantsXSolicitationOfNonGovtGrants
Solicitation Of Govt GrantsXSolicitationOfGovtGrants
Agreement Ref FundraisingtrueAgreementRefFundraising

Fundraiser Activity Information FundraiserActivityInformation (4 entries)

Name Of IndividualNameOfIndividualActivityActivityFundraiser Control Of FundsFundraiserControlOfFundsAmount Retained By ContractorAmountRetainedByContractorAddress Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCode
MARTS LUNDY INCFUNDRAISING CONSULTINGfalse269116
Kathleen L RydarFUNDRAISING CONSULTINGfalse39123
Mor AssociatesFUNDRAISING CONSULTINGfalse39000
Helen E Brown GroupFundraising Consultingfalse910038 Prescott StWatertownMA02472
FieldValueIRS element (for citing)
Total Retained By Contractors356339TotalRetainedByContractors
Licensed StatesMALicensedStates

Form990 Schedule G Part IV Form990ScheduleGPartIV

FieldValueIRS element (for citing)
IdentifierSCHEDULE G, PART IIdentifier
ExplanationNO FUNDRAISING EVENTS WERE CONDUCTED IN RELATION TO THE AMOUNTS PAID TO THE PROFESSIONAL FUNDRAISERS. ADDITIONALLY, MIT DID NOT CONDUCT FUNDRAISING EVENTS PER IRS DEFINITIONS.Explanation

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Records MaintainedtrueRecordsMaintained

Recipient Table RecipientTable (34 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeIRC SectionIRCSectionAmount Of Cash GrantAmountOfCashGrantPurpose Of GrantPurposeOfGrant
BETA THETA PI
119 120 BAYSTATE ROADBOSTONMA02215501(c)(7)57769IRDF Grant
CHI PHI
32 HEREFORD STBOSTONMA02139501(c)(7)20218IRDF Grant
DELTA KAPPA EPSILON
403 MEMORIAL DRIVECAMBRIDGEMA02215501(c)(7)18997IRDF Grant
DELTA UPSILON
526 BEACON STBOSTONMA02215501(c)(7)21212IRDF Grant
EPSILON THETA
259 SAINT PAUL STREETBROOKLINEMA02446501(c)(7)17195IRDF Grant
MIT STUDENT HOUSE
111 BAY STATE ROADBOSTONMA02215501(c)(7)10546IRDF Grant
PHI BETA EPSILON
400 MEMORIAL DRIVECAMBRIDGEMA02446501(c)(7)22988IRDF Grant
PHI DELTA THETA
97 BAY STATE ROADBOSTONMA02215501(c)(7)12757IRDF Grant
PHI KAPPA SIGMA FRATERNITY
530 BEACON STREETBOSTONMA02115501(c)(7)42551IRDF Grant
PHI KAPPA THETA
229 COMMONWEALTH AVENUEBOSTONMA02139501(c)(7)12214IRDF Grant
PHI LAMBDA PHI
450 BEACON STBOSTONMA02215501(c)(7)25713IRDF Grant
PIKA
69 CHESTNUT STCAMBRIDGEMA02116501(c)(7)6674IRDF Grant
SIGMA CHI
532 BEACON STREETBOSTONMA02215501(c)(7)14300IRDF Grant
SIGMA KAPPA
480 COMMONWEALTH AVEBOSTONMA02215501(c)(7)13358IRDF Grant
SIGMA NU
28 THE FENWAYBOSTONMA02139501(c)(7)71262IRDF Grant
THETA CHI
528 BEACON STBOSTONMA02215501(c)(7)18113IRDF Grant
THETA DELTA CHI
372 MEMORIAL DRIVECAMBRIDGEMA02215501(c)(7)24425IRDF Grant
WILG
355 MASS AVECAMBRIDGEMA02215501(c)(7)7640IRDF Grant
ALPHA CHI OMEGA
478 COMMONWEALTH AVEBOSTONMA02215501(C)(7)22109IRDF GRANT
ALPHA DELTA PHI
351 MASS AVECAMBRIDGEMA02139501(C)(7)14726IRDF GRANT
ALPHA PHI
479 COMMONWEALTH AVEBOSTONMA02215501(C)(7)74399IRDF GRANT
DELTA PSI #6 CLUB
428 MEMORIAL DRIVECAMBRIDGEMA02139501(C)(7)29917IRDF GRANT
ALPHA EPSILON PI
155-165 BAY STATE ROADBOSTONMA02115501(C)(7)42136IRDF GRANT
ZETA BETA TAU
58 MANCHESTER ROADBROOKLINEMA02465501(C)(7)36321IRDF GRANT
DELTA TAU DELTA
416 BEACON STREETBOSTONMA02215501(C)(7)40132IRDF GRANT
PHI SIGMA KAPPA
487 COMMONWEALTH AVEBOSTONMA02215501(C)(7)40194IRDF GRANT
KAPPA SIGMA
407 MEMORIAL DRIVECAMBRIDGEMA02139501(C)(7)20149IRDF GRANT
ZETA PSI
233 MASS AVECAMBRIDGEMA02139501(C)(7)46689IRDF GRANT
NU DELTA
460 BEACON STREETBOSTONMA02139501(C)(7)34784IRDF GRANT
THETA XI
64 BAY STATE ROADBOSTONMA02215501(C)(7)28528IRDF GRANT
SIGMA ALPHA EPSILON
165 BAY STATE ROADBOSTONMA02215501(C)(7)25297IRDF GRANT
NUMBER SIX CLUB
428 MEMORIAL DRIVECAMBRIDGEMA02139501(C)(7)11832IRDF GRANT
GUSTAVO DUDAMEL FOUNDATION INC
409 TAUGHANNOUCK BLVDITHACANY14830501(C)(3)75000PRIZE OR AWARD
SOLID ENERGY
94 BEACON ST NO 82SOMERVILLEMA0214320000PRIZE OR AWARD
FieldValueIRS element (for citing)
Total Nbr Of501 C3 And Govt Grants1TotalNbrOf501C3AndGovtGrants
Total Nbr Of Other Organizations33TotalNbrOfOtherOrganizations

Form990 Schedule I Part III Form990ScheduleIPartIII (7 entries)

Type Of GrantTypeOfGrantNumber Of RecipientsNumberOfRecipientsAmount Of Non Cash AssistanceAmountOfNonCashAssistanceMethod Of ValuationMethodOfValuationDescription Of Non Cash AssistanceDescriptionOfNonCashAssistanceAmount Of Cash GrantAmountOfCashGrant
TUITION SUPPORT8519317783000FMVFor Tuition
HONORARIA463400511
PRIZES AND AWARDS9731615229
PUBLIC SERVICE CENTER FELLOWSHIPS1968235
MIT Student Stipiends & Fellowships193433263000
Non-MIT Student Fellowships42411820000
Student Wages792090135000

Form990 Schedule I Part IV Form990ScheduleIPartIV

FieldValueIRS element (for citing)
IdentifierSCHEDULE I, PART I, LINE 2Identifier
ExplanationMIT 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 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.Explanation

Schedule J IRS990ScheduleJ

FieldValueIRS element (for citing)
First Class Or Charter TravelXFirstClassOrCharterTravel
Travel For CompanionsXTravelForCompanions
Idemnification Gross Up PaymentsXIdemnificationGrossUpPayments
Housing Allowance Or ResidenceXHousingAllowanceOrResidence
Club Dues Or FeesXClubDuesOrFees
Personal ServicesXPersonalServices
Written Policy Re T And E ExpensestrueWrittenPolicyReTAndEExpenses
Substantiation RequiredtrueSubstantiationRequired
Compensation CommitteeXCompensationCommittee
Independent ConsultantXIndependentConsultant
Form990 Of Other OrganizationsXForm990OfOtherOrganizations
Compensation SurveyXCompensationSurvey
Board Or Committee ApprovalXBoardOrCommitteeApproval
Severance PaymentfalseSeverancePayment
Supplemental Nonqual Retire PlantrueSupplementalNonqualRetirePlan
Equity Based Comp ArrangementfalseEquityBasedCompArrangement
Comp Based On Revenue Of Filing OrgfalseCompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related OrgsfalseCompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing OrgfalseCompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate OrgsfalseCompBasedNetEarningsRelateOrgs
Any Non Fixed PaymentstrueAnyNonFixedPayments
Initial Contract ExceptionfalseInitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII (18 entries)

Base Compensation Filing OrgBaseCompensationFilingOrgComp Based On Related OrgsCompBasedOnRelatedOrgsBonus Filing OrgBonusFilingOrgBonus Related OrgsBonusRelatedOrgsOther Compensation Filing OrgOtherCompensationFilingOrgOther Compensation Related OrgsOtherCompensationRelatedOrgsDeferred Comp Filing OrgDeferredCompFilingOrgDeferred Comp Related OrgsDeferredCompRelatedOrgsNontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgNontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgsTotal Compensation Filing OrgTotalCompensationFilingOrgTotal Compensation Related OrgsTotalCompensationRelatedOrgsComp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs
JOHN REED
25522000000005156026037600
SUSAN HOCKFIELD
6960540034605604165001161170119987700
THERESA STONE OUTGOING
526981004251501225005067058681300
KIRK KOLENBRANDER
2442660000031850028576030469200
SETH ALEXANDER
54257605564490290000220500258660117594100
PHILLIP CLAY FORMER KEY EMPLOYEE
2838560034882012250019833035082100
R GREGORY MORGAN
48072800063395036750031314061218700
JEFFREY NEWTON
3741530001246004165005179043344200
L RAFAEL REIF
5179360075196041650023503065828500
CLAUDE CANIZARES
2992240033665012250011753035689200
ERIC EVANS
38433400012630031850025058045387200
DAVID SCHMITTLEIN
5933650014013703675006807077705900
NELSON REPENNING
1636460100000512125016164033395073533000
STEVEN MARSH
391519027771807171031850025923073418100
W ERIC GRIMSON
2506170023800036750030833034200000
ISRAEL RUIZ INCOMING
3261560005000022050024660037786600
STEVE EPPINGER
29058300391813031850029092074333800
RICHARD LOCKE
31763600338442031850065501075342900

Form990 Schedule J Part III Form990ScheduleJPartIII (5 entries)

IdentifierIdentifierExplanationExplanation
SCHEDULE J, PART I, LINES 1A AND BMIT 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. 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. 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. MIT REIMBURSES SOME OFFICERS AND KEY EMPLOYEES FOR CERTAIN DUES AND FEES FOR ASSOCIATIONS THEY USE FOR BUSINESS. REIMBURSEMENT IS DEPENDENT UPON SUBSTANTIATION OF THE BONA FIDE BUSINESS REASON FOR THE EXPENSE. THE MIT PRESIDENT IS REQUIRED TO LIVE IN AN MIT OWNED RESIDENCE, ON MIT'S CAMPUS, AS A CONDITION OF HER EMPLOYMENT AND AS A CONVENIENCE TO MIT. 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 7THE 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.
SCHEDULE J, PART IISCHEDULE 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. SLOAN FACULTY INCLUDED IN THE FORM 990 ARE PROFESSORS EPPINGER, LOCKE, REPENNING AND SCHMITTLEIN. SCHEDULE J, PART II, COLUMN (C) DOES NOT INCLUDE $145,000 OF INCENTIVE COMPENSATION FOR MR. ALEXANDER AND $62,946 OF INCENTIVE COMPENSATION FOR MR. MARSH AWARDED IN JANUARY 2011. 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 VIITHE 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 ON AVERAGE 1-2 HOURS PER WEEK IN ADDITION TO THE HOURS LISTED IN COLUMN (B) OF FORM 990, PART VII.
PRESIDENT SUSAN HOCKFIELDAS MIT HAS REPORTED IN PRIOR YEARS, MIT PAYS AN AMOUNT ANNUALLY INTO AN ACCOUNT FOR THE BENEFIT OF THE PRESIDENT. MIT PAID $125,000 INTO THAT ACCOUNT IN CALENDAR YEAR 2011. SHE CANNOT ACCESS THAT ACCOUNT BEFORE SHE CEASES SERVING AS MIT'S PRESIDENT OR HAS SERVED FOR 10 YEARS. IN ADDITION, THE PRESIDENT VESTED IN A PORTION OF A DEFERRED ANNUITY IN CALENDAR YEAR 2011 FOR WHICH PAYMENTS WILL BEGIN IN CALENDAR YEAR 2016. THE VALUE OF THE VESTED PORTION OF THE ANNUITY WAS RECORDED IN CALENDAR YEAR 2011. IN THIS FORM 990, THESE AMOUNTS ARE INCLUDED AS "OTHER REPORTABLE COMPENSATION" (SCHEDULE J, PART II, COLUMN (B)(III)) AS REQUIRED BY IRS REGULATION. MIT REQUIRES THE PRESIDENT TO LIVE IN AN MIT-OWNED HOME IN CAMBRIDGE, ON THE MIT CAMPUS, AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY. 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 $70,000. 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 K IRS990ScheduleK

Form990 Schedule K Part I Form990ScheduleKPartI (4 entries)

Issuer EINIssuerEINCUSIP NumberCUSIPNumberDate IssuedDateIssuedIssue PriceIssuePriceDescription Of PurposeDescriptionOfPurposeDefeasedDefeasedOn Behalf Of IssuerOnBehalfOfIssuerPool FinancingPoolFinancing
Massachusetts Health & Educational Fac
04245601157585K3G12003-05-07204790814CONSTRUCTION/RENOVATION/REFUNDfalsefalsefalse
Massachusetts Health & Educational Fac
04245601157586CBP92004-04-02150854243CONSTRUCTION AND RENOVATIONfalsefalsefalse
Massachusetts Health & Educational Fac
04245601157586C8G32008-08-13334995460CONSTRUCTION AND RENOVATIONfalsefalsefalse
Massachusetts Health & Educational Fac
04245601157586ECM12008-12-10274996289CONSTRUCTION AND RENOVATIONfalsefalsefalse

Form990 Schedule K Part II Form990ScheduleKPartII (4 entries)

Amount RetiredAmountRetiredAmount Bond DefeasedAmountBondDefeasedTotal ProceedsTotalProceedsAmount In Reserve FundAmountInReserveFundCapitalized InterestCapitalizedInterestRefunding EscrowRefundingEscrowIssuance Costs From ProceedsIssuanceCostsFromProceedsCredit EnhancementCreditEnhancementWorking Capital ExpendituresWorkingCapitalExpendituresCapital ExpendituresCapitalExpendituresOther Spent ProceedsOtherSpentProceedsAmount UnspentAmountUnspentYear Of Subst CompletionYearOfSubstCompletionCurrent RefundingCurrentRefundingAdvance RefundingAdvanceRefundingFinal Allocation MadeFinalAllocationMadeAdequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind
171900000205361235000104017000204321064002005truefalsetruetrue
0015159921000085424300150744967002005falsefalsetruetrue
00336035127000157567500334459512002010falsefalsetruetrue
00276649117000155814600275090971002010falsefalsetruetrue

Form990 Schedule K Part III Form990ScheduleKPartIII (4 entries)

Owning Bond Financed PropertyOwningBondFinancedPropertyAny Lease ArrangementsAnyLeaseArrangementsMngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprtyEngage Bond Counsel ContractsEngageBondCounselContractsAny Research AgreementsAnyResearchAgreementsEngage Bond Counsel ResearchEngageBondCounselResearchPrcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthersPercentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBITotal Private Business UseTotalPrivateBusinessUsePost Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs
falsefalsetruefalsetruefalse0.026980.000000.02698true
falsefalsetruefalsetruefalse0.028090.000000.02809true
falsefalsetruefalsetruefalse0.025680.000000.02568true
falsefalsetruefalsetruefalse0.039920.000000.03992true

Form990 Schedule K Part IV Form990ScheduleKPartIV (4 entries)

Form8038 T FiledForm8038TFiledVariable Rate IssueVariableRateIssueHedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecdsGross Proceeds Invested In GICGrossProceedsInvestedInGICBusiness Name Line1NameOfGICProvider/BusinessNameLine1Gross Proceeds InvestedGrossProceedsInvestedException To RebateExceptionToRebate
0
falsefalsefalsefalse0falsetrue
0
falsefalsefalsefalse0falsetrue
0
falsefalsefalsefalse0falsetrue
0
falsefalsefalsefalse0falsetrue
FieldValueIRS element (for citing)
Fed Tax Requirements ComplianceXFedTaxRequirementsCompliance

Form990 Schedule K Part VI Form990ScheduleKPartVI

FieldValueIRS element (for citing)
IdentifierSEE SCHEDULE O. NOTE ALSO THAT IT IS MIT'S POLICY TO COMPLY WITH THEIdentifier
Return ReferenceSAFE HARBORS OF REV PROCS 07-47 AND 97-13.ReturnReference

Schedule L IRS990ScheduleL

Loan Table LoanTable (4 entries)

Purpose Of LoanPurposeOfLoanLoan From OrganizationLoanFromOrganizationOriginal PrincipalOriginalPrincipalAmountBalance DueBalanceDueDefaultDefaultApproved By BoardApprovedByBoardWritten AgreementWrittenAgreement
R GREGORY MORGAN
MORTGAGEX$200,00040000falsetruetrue
DAVID SCHMITTLEIN
MORTGAGEX$250,00050000falsetruetrue
RICHARD LOCKE
MORTGAGEX$300,000300000falsetruetrue
SUSAN HOCKFIELD
MORTGAGEX$500,000500000falsetruetrue
FieldValueIRS element (for citing)
Total Balance Due890000TotalBalanceDue

Form990 Schedule L Part III Form990ScheduleLPartIII

FieldValueIRS element (for citing)
Name Of Interested PersonChildren's ScholarshipNameOfInterestedPerson
Relationship With OrganizationChildren of Qualified FacultyRelationshipWithOrganization
Amount Of Grant26310AmountOfGrant
Type Of AssistanceScholarshipTypeOfAssistance

Form990 Schedule L Part IV Form990ScheduleLPartIV

Name Of Interested Person NameOfInterestedPerson

FieldValueIRS element (for citing)
Name PersonSEE PART VNamePerson
FieldValueIRS element (for citing)
Sharing Of RevenuesfalseSharingOfRevenues

Form990 Schedule L Part V Form990ScheduleLPartV (2 entries)

IdentifierIdentifierExplanationExplanation
PART IIIALTHOUGH 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.
PART IVTHE FOLLOWING ARE ARM'S LENGTH TRANSACTIONS BETWEEN MIT AND 3RD PARTIES WHERE AN MIT OFFICER, DIRECTOR, TRUSTEE, KEY EMPLOYEE OR HIGHLY-COMPENSATED INDIVIDUAL SERVED ON THE BOARD OF DIRECTORS OF THE 3RD PARTY OR OWNED GREATER THAN 10% OF THE 3RD PARTY. CLAUDE CANIZARES IS A KEY EMPLOYEE AND ROBERT MILLARD IS A MEMBER OF THE EXECUTIVE COMMITTEE OF MIT. BOTH ARE ALSO ON THE BOARD OF L-3 COMMUNICATIONS. MIT PROCURED EQUIPMENT FROM L-3 COMMUNICATIONS IN THE AMOUNT OF $3,003,421. L. RAFAEL REIF IS THE PROVOST OF MIT AND A MEMBER OF THE BOARD OF SCHLUMBERGER LIMITED. MIT RECEIVED INDUSTRIAL LIASION PROGRAM MEMBERSHIP PAYMENT FROM SCHLUMBERGER LIMITED IN THE AMOUNT OF $60,000. MIT ALSO RECEIVED SPONSORED RESEARCH REVENUE FROM SCHLUMBERGER LIMITED IN THE AMOUNT OF $1,396,972. JAMES CHAMPY IS A MEMBER OF THE MIT EXECUTIVE COMMITTEE AND IS ALSO A MEMBER OF THE BOARD OF ANALOG DEVICES, INC. MIT PROCURED EQUIPMENT FROM ANALOG DEVICES IN THE AMOUNT OF $126,730. MIT ALSO RECEIVED SPONSORED RESEARCH REVENUE FROM ANALOG DEVICES, INC.IN THE AMOUNT OF $259,375. SUSAN HOCKFIELD IS THE PRESIDENT OF MIT AND A MEMBER OF THE BOARD AT GENERAL ELECTRIC. MIT PROCURED GOODS FROM GENERAL ELECTRIC IN THE AMOUNT OF $49,227. MIT RECEIVED SPONSORED RESEARCH REVENUE IN THE AMOUNT OF $863,438 FROM GENERAL ELECTRIC. MIT ALSO RECEIVED INDUSTRIAL LIASON PROGRAM MEMBERSHIP REVENUE FROM GENERAL ELECTRIC IN THE AMOUNT OF $75,000. DR.THOMAS BYRNE IS AN MIT FACULTY MEMBER, MS. PAMELA EVANS IS A RESEARCH GROUP LEADER AT MIT LINCOLN LABORATORY AND MR. MATIAS SACERDOTE IS A SENIOR INVESTMENT ASSOCIATE AT MITIMCO. EACH IS A FAMILY MEMBER OF A MIT DIRECTOR, OFFICER OR KEY EMPLOYEE. IN FY 2012, THEY RECEIVED COMPENSATION AND BENEFITS IN THE AMOUNTS OF $147,134, $210,608 AND $190,145 RESPECTIVELY.

Schedule M IRS990ScheduleM

Works Of Art WorksOfArt

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Number Of Contributions46NumberOfContributions
Method Of Determining RevenuesN/AMethodOfDeterminingRevenues
FieldValueIRS element (for citing)
Art Historical TreasuresArtHistoricalTreasures
Art Fractional InterestArtFractionalInterest

Books And Publications BooksAndPublications

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Method Of Determining RevenuesN/AMethodOfDeterminingRevenues

Clothing And Household Goods ClothingAndHouseholdGoods

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Method Of Determining RevenuesN/AMethodOfDeterminingRevenues
FieldValueIRS element (for citing)
Cars And Other VehiclesCarsAndOtherVehicles
Boats And PlanesBoatsAndPlanes
Intellectual PropertyIntellectualProperty

Securities Publicly Traded SecuritiesPubliclyTraded

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Number Of Contributions623NumberOfContributions
Noncash Contribs Rptd F99012621000NoncashContribsRptdF990
Method Of Determining RevenuesSELLING PRICEMethodOfDeterminingRevenues

Securities Closely Held Stock SecuritiesCloselyHeldStock

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Number Of Contributions13NumberOfContributions
Noncash Contribs Rptd F99010043000NoncashContribsRptdF990
Method Of Determining RevenuesSELL PRICE/APPRAISALMethodOfDeterminingRevenues

Securities Prtnrshp Trust Intrsts SecuritiesPrtnrshpTrustIntrsts

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Number Of Contributions6NumberOfContributions
Noncash Contribs Rptd F9901447000NoncashContribsRptdF990
Method Of Determining RevenuesSELL PRICE/APPRAISALMethodOfDeterminingRevenues

Securities Miscellaneous SecuritiesMiscellaneous

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Number Of Contributions9NumberOfContributions
Noncash Contribs Rptd F99039000NoncashContribsRptdF990
Method Of Determining RevenuesSELL PRICE/APPRAISALMethodOfDeterminingRevenues
FieldValueIRS element (for citing)
Qualified Contrib Hist StructQualifiedContribHistStruct
Qualified Contrib OtherQualifiedContribOther
Real Estate ResidentialRealEstateResidential
Real Estate CommercialRealEstateCommercial
Real Estate OtherRealEstateOther
CollectiblesCollectibles

Food Inventory FoodInventory

FieldValueIRS element (for citing)
Non Cash CheckboxXNonCashCheckbox
Number Of Contributions1NumberOfContributions
Method Of Determining RevenuesN/AMethodOfDeterminingRevenues
FieldValueIRS element (for citing)
Drugs And Medical SuppliesDrugsAndMedicalSupplies
TaxidermyTaxidermy
Historical ArtifactsHistoricalArtifacts
Scientific SpecimensScientificSpecimens
Archaeological ArtifactsArchaeologicalArtifacts

Other Non Cash Contributions Table OtherNonCashContributionsTable (3 entries)

Non Cash CheckboxNonCashCheckboxDescriptionDescriptionNumber Of ContributionsNumberOfContributionsNoncash Contribs Rptd F990NoncashContribsRptdF990Method Of Determining RevenuesMethodOfDeterminingRevenues
XEQUIPMENT8394000FAIR MARKET VALUE
XArchival Records70N/A
XOTHER40N/A
FieldValueIRS element (for citing)
Number Of8283 Received3NumberOf8283Received
Any Property That Must Be HeldfalseAnyPropertyThatMustBeHeld
Review Process Unusual NC GiftstrueReviewProcessUnusualNCGifts
Third Parties UsedtrueThirdPartiesUsed

Form990 Schedule M Part II Form990ScheduleMPartII (2 entries)

IdentifierIdentifierExplanationExplanation
PART I, LINES 1 - 28The number listed in Part I, column (b) for applicable lines 1 through 28 represent the number of contributions. PART I, LINE 32B 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.
PART I, LINE 33MIT 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 O IRS990ScheduleO

General Explanation GeneralExplanation (13 entries)

IdentifierIdentifierExplanationExplanationReturn ReferenceReturnReference
PART III, LINE 4B (CONTINUED)MIT LINCOLN LABORATORY IS A FEDERALLY FUNDED RESEARCH AND DEVELOPMENT CENTER OPERATED BY MIT IN LEXINGTON, MASSACHUSETTS, UNDER SPONSORSHIP OF THE DEPARTMENT OF DEFENSE, FOR THE PURPOSE OF APPLYING ADVANCED TECHNOLOGY TO PROBLEMS OF NATIONAL SECURITY. IN THE FISCAL YEAR ENDED JUNE 30, 2012, MIT LINCOLN LABORATORY EXPENDED RESEARCH FUNDING OF APPROXIMATELY $850 MILLION. PART III, LINE 4D 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. PART IV, LINE 20A MIT NO LONGER OPERATED A HOSPITAL FACILITY IN FISCAL YEAR 2012. THE MASSACHUSETTS DEPARTMENT OF PUBLIC HEALTH ISSUED A NEW CLINIC LICENSE FOR MITS SCHOOL INFIRMARY, MIT MEDICAL, EFFECTIVE IN FISCAL YEAR 2011. AS A RESULT OF THE CHANGE IN MIT MEDICALS LICENSE FROM THAT OF A HOSPITAL TO THAT OF A CLINIC, MIT IS NOT REQUIRED TO FILE A SCHEDULE H FOR FISCAL YEAR 2012.
PART V, LINE 4BNAMES OF FOREIGN COUNTRIES: ARGENTINA, BERMUDA, BRAZIL, CAYMAN ISLANDS, CHILE, GUERNSEY, HUNGARY, INDIA, ISRAEL, JORDAN, REPUBLIC OF KOREA, MALAYLSIA, PHILIPPINES, ROMANIA, SINGAPORE, TAIWAN, THAILAND, TURKEY, UNITED KINGDOM
PART VI, LINE 1AThe 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, and controls, special contract services, and faculty tenure decision approval. THE EXECUTIVE COMMITTEE CONSISTS OF 12 MEMBERS AND MEETS 10 TIMES EACH YEAR. THE MIT CORPORATION IS A BODY CURRENTLY COMPRISED OF 72 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.
PART VI, LINE 1BIN SCHEDULE L, PART IV, MIT REPORTS TRANSACTIONS WITH VARIOUS COMPANIES WHOSE BOARDS OF DIRECTORS INCLUDE MEMBERS OF MIT'S GOVERNING BODY. THE REPORTED TRANSACTIONS WERE ARM'S LENGTH, COMMERCIAL TRANSACTIONS OCCURRING IN THE ORDINARY COURSE OF BUSINESS FOR BOTH MIT AND THE VARIOUS COMPANIES AND WERE IMMATERIAL TO THE INDEPENDENCE OF THOSE INDIVIDUALS.
PART VI, LINE 2CLAUDE R. CANIZARES AND ROBERT MILLARD ARE BOARD MEMBERS OF L-3 COMMUNICATIONS, INC. SETH ALEXANDER AND R. GREGORY MORGAN ARE MEMBERS OF THE INVESTMENT COMMITTEE AND UNDERWRITING COMMITTEE, RESPECTIVELY, OF CRICO. SETH ALEXANDER IS THE TREASURER AND STEVEN MARSH IS A MEMBER OF THE MIT PRIVATE EQUITY FUNDS.
PART VI, LINE 7ATHE 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.
PART VI, LINE 10BTHE WRITTEN POLICIES AND PROCEDURES OF THE INSTITUTE APPLY TO ITS SUBSIDIARIES. THE ORGANIZATIONAL DOCUMENTS OF OTHER ORGANIZATIONS OVER WHICH MIT EXERCISES SUPERVISION AND CONTROL INCLUDE PROVISIONS THAT ALIGN THEIR MISSIONS WITH MIT'S MISSION.
PART VI, LINE 11MIT'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 AUDIT COMMITTEE AND EXECUTIVE COMMITTEE (MIT'S GOVERNING BODY) ARE PROVIDED WITH THE FORM AND RELATED SCHEDULES FOR THEIR REVIEW AND COMMENT.
PART VI, LINE 12CMONITORING 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.
PART VI, LINE 15THE 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 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.
PART VI, LINE 19THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE ON MIT'S WEBSITE HTTP://WEB.MIT.EDU. PART XI, LINE 5 THE OTHER CHANGES IN NET ASSETS INCLUDES INVESTMENT GAINS NOT DISTRIBUTED.
SCHEDULE K, PART I, LINE ADETAILS OF REFUNDED BOND ISSUES HEFA SERIES L BOND (ISSUED MAY 7, 2003) REFUNDED HEFA SERIES H BOND ISSUED ON APRIL 6, 1993. HEFA SERIES H BOND WAS USED FOR CONSTRUCTION AND TO REFUND HEFA SERIES D BOND ISSUED MAY 14, 1980. SCHEDULE K, PART III, LINE 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 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.
OTHER EXPENSESDESCRIPTION:ALL OTHER EXPENSES TOTAL EXPENSES:XXX-XX-XXXX PROGRAM SERVICES:XXX-XX-XXXX MANAGEMENT AND GENERAL:XXX-XX-XXXX FUNDRAISING:1714000FORM 990 PART IX

Schedule R IRS990ScheduleR

Form990 Schedule R Part I Form990ScheduleRPartI (41 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeEINEINPrimary ActivitiesPrimaryActivitiesLegal Domicile StateLegalDomicileStateTotal IncomeTotalIncomeEOY AssetsEOYAssetsBusiness Name Line1DirectControllingEntityName/BusinessNameLine1
MIT Real Estate LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142810643869Real EstateMA201898055775000MIT
Technology Square Finance LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142810643894Real EstateMA-9594669145MIT
MIT One Broadway LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA6675757120000000MIT
MIT 130 Brookline LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA01659655MIT
MIT Vassar Holdings LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA-1214460MIT
Tech Square JV LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142205242541Real EstateMA181750953140000MIT
MIT 600 Memorial Drive LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA00MIT
MIT 170171 Sidney LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1211382880000MIT
MIT 300 Third LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA77345417970000MIT
MIT 770790 Memorial LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA57490413320000MIT
MIT 99 Erie LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1277073025000MIT
MIT 128 Sidney SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA208368221000000MIT
MIT 148 Sidney SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA5576118000000MIT
MIT 149 Sidney SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA135900117850000MIT
MIT 185 Albany SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA00MIT
MIT 195 Albany SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA-63371610000000MIT
MIT 207 Albany SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA-51007-4000000MIT
MIT 640 Memorial SPE LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA10198MIT
MIT One Broadway Fee Owner LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1202360MIT
MIT 128 Sidney Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1202360MIT
MIT 148 Sidney Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1202355MIT
MIT 149 Sidney Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1202355MIT
177 Massachusetts Avenue Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA10197MIT
MIT West 300 Block JV LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA0270514MIT
650 Main Street Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA1202360MIT
MIT 177 Massachusetts Avenue LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA6722660217100000MIT
MIT 650 Main Street LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA14127062336832MIT
MIT East 300 Block JV LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA-92921176MIT
MIT 8 Carleton Street LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA-2646541700000MIT
MIT 640 Memorial Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142461548002Real EstateMA1520872107500000MIT
MIT 424-456 Massachusetts Avenue LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA2949815600000MIT
424-456 Massachusetts Avenue Leasehold L
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA10198MIT
MIT 281-295 Albany Street LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA85595016000000MIT
281-295 Albany Street Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594Real EstateMA10199MIT
Meadowlark Associates LLC
C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142042103594InvestmentsMA26229400133140710MIT
MIT PRIVATE EQUITY MANAGEMENT Co II LLC
C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142InvestmentsMA-160097237MIT
MIT PRIVATE EQUITY MANAGEMENT Co III LLC
C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142InvestmentsMA-281820287MIT
Blue Jay Associates LLC
C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142InvestmentsMAMIT
12 Emily Street Leasehold LLC
C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142042103594Real EstateMA00MIT
MIT 12 Emily Street LLC
C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142042103594Real EstateMA85713912000000MIT
MIT West 300Block Mass Ave Fee Owner LLC
C/O MIT 238 MAIN STREET SUITE 200CAMBRIDGEMA02142042103594REAL ESTATEMA00MIT

Form990 Schedule R Part II Form990ScheduleRPartII (9 entries)

Address Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeEINEINPrimary ActivitiesPrimaryActivitiesLegal Domicile StateLegalDomicileStateExempt Code SectionExemptCodeSectionPublic Charity StatusPublicCharityStatusBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Controlled OrgControlledOrgDirect Controlling Entity NADirectControllingEntityNA
MIT ENTERPRISE FORUM INC
77 MASSACHUSETTS AVENUECAMBRIDGEMA02139042921492EDUCATIONMA501(c)(3)11A Type IMITtrue
MIT REAL ESTATE FOUNDATION INC
238 MAIN STREET SUITE 200CAMBRIDGEMA02142043397800REAL ESTATEMA501(c)(3)11A TYPE IMITtrue
TECHNOLOGY REVIEW INC
ONE MAIN STREET 7TH FLOORCAMBRIDGEMA02142954893200PUBLICATIONMA501(c)(3)11A Type IMITtrue
TECHNOLOGY BROADCASTING CORPORATION
3 AMES STREETCAMBRIDGEMA02142237154684RADIOMA501(c)(3)LINE 9MITtrue
LORD FOUNDATION OF MASSACHUSETTS INC
238 MAIN STREET SUITE 200CAMBRIDGEMA02142042748895MIT SUPPORTMA501(c)(3)11A Type IMITtrue
MIT RETIREE WELFARE BENEFIT TRUST
77 MASSACHUSETTS AVE NE49-31CAMBRIDGEMA02139043177556HEALTH BEN.MA501(c)(3)11A Type IMITtrue
KENDALL PARTNERS I INC
238 MAIN ST STE 200CAMBRIDGEMA02142270565900TITLE HOLDMA501(c)(2)MITtrue
The Massachusetts Green High Performance
100 Bigelow StreetHolyokeMA01040273014805ResearchMA501(c)(3)11A Type IfalseN/A
MGHPCC Holyoke Inc
100 Bigelow StreetHolyokeMA01040452257442ResearchMA501(c)(3)11A Type IfalseN/A

Form990 Schedule R Part III Form990ScheduleRPartIII (16 entries)

EINEINPrimary ActivityPrimaryActivityLegal Domicile Foreign CountryLegalDomicileForeignCountryBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Predominant Income TypePredominantIncomeTypeShare Of Total IncomeShareOfTotalIncomeShare Of EOY AssetsShareOfEOYAssetsDisproportionate AllocationsDisproportionateAllocationsGeneral Or Managing PartnerGeneralOrManagingPartnerPercentage OwnershipPercentageOwnershipLegal Domicile StateLegalDomicileStateCode VCodeVAmountAddress Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCode
Alchemy PlanA (Cambridge) LP
980203250INVESTMENTSGKMITEXCLUDED475346727935215falsefalse0.99010
Mallard Fund LP
208974201INVESTMENTSMITExcluded26229400133140710falsefalse0.99413TX
Wexford Special Situations 1997 Institu
061483925INVESTMENTSMITExcluded12080612627241falsefalse0.55417DE$96,848
Wexford-MIT Energy LP
800057801INVESTMENTSMITExcluded1071655581544falsefalse0.66867DE-$1,721,213
Wexford-MIT Energy II LP
760787877INVESTMENTSMITExcluded918233821953918falsefalse0.90900DE-$1,363,460
India Institutional Fund LLC
980442802INVESTMENTSMITExcluded90635619626756falsefalse0.86176DE
Wexford-MIT Distressed LP
113650262INVESTMENTSMITExcluded295447621521072falsefalse0.67022DE$961,259
MIT Investments 2009 LP
270896088INVESTMENTSMITExcluded13955047607290950falsetrue0.91572DE-$1,879,562
Stockbridge Fund M LP
272122022INVESTMENTSMIT Invest 2010Excluded108339375693060falsefalse0.99895MA
MIT Investments 2010 LP
270542081INVESTMENTSMITexcluded485935381558554467falsetrue1.00000DE-$27,344
MD Investors Value Fund
300615514InvestmentsMIT Invest 2010Excluded10166491103015182falsefalse0.97230DE
Merckx Capital Partners LP
364711803INVESTMENTSMIT Invest 2010EXCLUDED10570551176148falsefalse0.90622DE
MFPLA LP
453203773INVESTMENTSMIT Invest 2010Excluded26764100316056falsefalse0.99800DE
MGPLA LP
453625653INVESTMENTSMIT Invest 2010Excluded5814833273848falsefalse0.99910DE
MIT PRIVATE EQUITY MGMT CO LLC
043490002InvestmentsMITUnrelated126147114102falsetrue0.50000MA$126,147C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142
MIT PRIVATE EQUITY MANAGEMENT CO IV LLC
261356780InvestmentsMITUnrelated2694243524falsetrue0.50000MA$26,942C/O MIT 238 MAIN STREET SUITE 200CambridgeMA02142

Form990 Schedule R Part IV Form990ScheduleRPartIV (15 entries)

Primary ActivityPrimaryActivityLegal Domicile Foreign CountryLegalDomicileForeignCountryBusiness Name Line1DirectControllingEntityName/BusinessNameLine1Type Of EntityTypeOfEntityShare Of Total IncomeShareOfTotalIncomeShare Of EOY AssetsShareOfEOYAssetsPercentage OwnershipPercentageOwnershipAddress Line1AddressUS/AddressLine1CityAddressUS/CityStateAddressUS/StateZIP CodeAddressUS/ZIPCodeLegal Domicile StateLegalDomicileStateDirect Controlling Entity NADirectControllingEntityNAAddress Line1AddressForeign/AddressLine1CountryAddressForeign/CountryPostal CodeAddressForeign/PostalCodeCityAddressForeign/City
BARTON INSURANCE CO LTD
INSURANCEBDMITForeign CORP245572683967781.00000
MIT PRESS LIMITED
PUBLICATIONUKMITForeign CORP162790315242541.00000
SINGAPORE-MIT ALLIANCE FOR RES AND TECH
RESEARCHSNMITForeign CORP0328743001.00000
MITPATRON GP LIMITED
INVESTMENTSUKMITForeign CORP001.00000
Bose Corporation
Prodct DevelpNAC CorpThe MountainFraminghamMA01701DE
Charitable Remainder Trusts (272)
InvestmentsTrustMAN/A
Charitable Lead Trust
InvestmentsTrustMAN/A
Pooled Income Funds (197)
InvestmentsTrustMAN/A
Charitable Remainder Trusts (23)
InvestmentsTrustN/A
Outside Perpetual Trusts (18)
InvestmentsTrustN/A
The Gallinule Fund
InvestmentsCJMIT Invest 2010Foreign Corp-13699962915125551.00000PO Box 309 Ugland HouuseCJKY1-1104
Gaoling Feeder II LTD
InvestmentsCJMITForeign Corp398277603701596241.00000PO Box 908GT Mary StreetCJKY1-9005Georgetown
MIT India Trust
Education SupINMITForeign Trust1.00000Pirojshanager Eastern Express HwyIN400079Mumbai
MITPatron Scotland LP
InvestmentsUKMITForeign CORP-548000154570001.00000
India Institutional Fund Limited
InvestmentsMPIndia Inst LLCForeign Corp-10768381196445860.86176IFS Court 28 CybercityMPEbene
FieldValueIRS element (for citing)
Receipt Of Int Ann Rents RoyaltiesfalseReceiptOfIntAnnRentsRoyalties
Gift Grant Or Cap Contr To Other OrgfalseGiftGrantOrCapContrToOtherOrg
Gift Grant Or Cap Contr Fr Other OrgtrueGiftGrantOrCapContrFrOtherOrg
Loans Or Guarantees To Other OrgtrueLoansOrGuaranteesToOtherOrg
Loans Or Guarantees From Other OrgfalseLoansOrGuaranteesFromOtherOrg
Sale Of Assets To Other OrgfalseSaleOfAssetsToOtherOrg
Purchase Of Assets From Other OrgfalsePurchaseOfAssetsFromOtherOrg
Exchange Of AssetsfalseExchangeOfAssets
Rental Of Facilities To Other OrgsfalseRentalOfFacilitiesToOtherOrgs
Rental Of Facilities Fr Other OrgsfalseRentalOfFacilitiesFrOtherOrgs
Perform Of Services For Other OrgsfalsePerformOfServicesForOtherOrgs
Perform Of Services By Other OrgstruePerformOfServicesByOtherOrgs
Sharing Of FacilitiesfalseSharingOfFacilities
Sharing Of Paid EmployeesfalseSharingOfPaidEmployees
Reimbursement Paid To Other OrgtrueReimbursementPaidToOtherOrg
Reimbursement Paid By Other OrgtrueReimbursementPaidByOtherOrg
Other Transfer To Other OrgtrueOtherTransferToOtherOrg
Other Transfer From Other OrgtrueOtherTransferFromOtherOrg

Transactions Related Orgs Table TransactionsRelatedOrgsTable (10 entries)

Transaction TypeTransactionTypeAmount InvolvedAmountInvolvedMethod Of Amt DeterminationMethodOfAmtDetermination
SINGAPORE-MIT ALLIANCE FOR RESEARCH AND TECH
C3336000CASH
TECHNOLOGY REVIEW INC
D3129000CASH
MIT PRESS LTD
L589000CASH
TECHNOLOGY REVIEW INC
O1669000CASH
SINGAPORE-MIT ALLIANCE FOR RESEARCH AND TECH
P4570000CASH
BARTON INSURANCE CO LTD
Q1587000CASH
LORD FOUNDATION OF MASSACHUSETTS INC
Q934000CASH
MIT PRESS LTD
R188000CASH
LORD FOUNDATION OF MASSACHUSETTS INC
R1585000CASH
MIT REAL ESTATE FOUNDATION Inc
R2172000CASH

Form990 Schedule R Part VII Form990ScheduleRPartVII

FieldValueIRS element (for citing)
IdentifierBOSE CORPORATIONIdentifier
Return ReferenceSCHEDULE R, PART IVReturnReference
ExplanationMIT IS THE OWNER (RECEIVED BY WAY OF TWO CHARITABLE GIFTS AND DISCLOSED IN A PRIOR TAX YEAR) OF A MAJORITY OF BOSE CORPORATION'S CLASS B SHARES. 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.Explanation

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