2013-05-13T18:19:29-05:00 2012-06-30 990 2011-07-01 043177556 MASSACHUSETTS INSTITUTE OF TECHNOLOGY RETIREE WELFARE BENEFIT TRUST % BASIL A STEWART MASS 6172532723 77 Massachusetts Avenue NE49-3142 Cambridge MA 02139 ISRAEL RUIZ 2013-05-09 2011 2016-02-24 21:20:13Z ISRAEL RUIZ 77 MASSACHUSETTS AVE NE49 CAMBRIDGE MA 02139 229527000 false X N/A X 1992 MA TO PROVIDE HEALTH AND LIFE INSURANCE BENEFITS TO COVERED ELIGIBLE RETIREES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY AND THEIR DEPENDENTS. 14 9 0 -365000 -365192 0 0 53894000 56754000 3678000 -423000 0 0 57572000 56331000 0 0 23947000 22788000 0 0 0 0 0 1593000 1582000 25540000 24370000 32032000 31961000 311861000 361214000 322000 2302000 311539000 358912000 TO PROVIDE HEALTH AND LIFE INSURANCE BENEFITS TO COVERED ELIGIBLE RETIREES OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY AND THEIR DEPENDENTS. false false 564000 EXPENSES WERE PAID TO PROVIDE LIFE INSURANCE BENEFITS TO APPROXIMATELY 5,346 INDIVIDUALS COVERED UNDER THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) RETIREE WELFARE BENEFIT PLAN. 23470000 HEALTH INSURANCE BENEFITS WERE PROVIDED TO APPROXIMATELY 5,346 INDIVIDUALS COVERED UNDER THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) RETIREE WELFARE BENEFIT PLAN. 24034000 true false false false false false false false false false false true false false false true true false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false false true 0 0 0 true true false false false false false false X 14 9 false false false false false false false true false false false false false false false true false X BASIL A STEWART 6172532777 77 MASSACHUSETTS AVENUE NE49-3142 Cambridge MA 02139 John Reed 2.0 X 0 255220 5156 SUSAN HOCKFIELD 1.0 X 0 1042110 157767 SETH ALEXANDER 1.0 X 0 1128025 47916 THERESA STONE 1.0 X 0 569496 17317 Denis Bovin 1.0 X 0 0 0 JOHN THAIN 1.0 X 0 0 0 DAVID ANDERSON 1.0 X 0 0 0 JOHN CASTLE 1.0 X 0 0 0 GURURAJ DESHPANDE 1.0 X 0 0 0 ABIGAIL JOHNSON 1.0 X 0 0 0 ROBERT MILLARD 1.0 X 0 0 0 CATHY MINEHAN 1.0 X 0 0 0 JOHN NAGORNIAK 1.0 X 0 0 0 HELMUT WEYMAR 1.0 X 0 0 0 ISRAEL RUIZ 1.0 X 0 331156 46710 0 3326007 274866 0 false true false BLUE CROSS AND BLUE SHIELD OF MA LANDMARK CENTER 401 PARK DRIVE BOSTON MA 02215 HEALTH CARE PROVIDER 1009946 WELLINGTON TRUST COMPANY PO BOX 13766 NEWARK NJ 07188 INVESTMENT MANAGER 204407 Express Scripts Inc PO Box 52150 PHOENIX AZ 85072 CLAIMS PROCESSING 236173 3 0 EMPLOYER'S CONTRIBUTIONS 52920000 52920000 RETIREE CONTRIBUTIONS 3834000 3834000 56754000 2372000 -365000 2737000 0 0 170401000 173196000 -2795000 -2795000 0 0 0 0 56331000 56754000 -365000 2737000 0 0 0 22788000 22788000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 CLAIMS PROCESSING 1246000 1246000 ADMINISTRATIVE EXPENSES 336000 336000 24370000 24034000 336000 0 137000 23462000 6183000 5249000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25591000 305541000 306912000 0 0 0 0 0 0 311861000 361214000 0 2302000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 322000 0 322000 2302000 X 311539000 358912000 0 0 0 0 311539000 358912000 311861000 361214000 X 31961000 15412000 X false true true X false X X false false false MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT) 042103594 02 true true true 0 1 1596000 F PARTNERSHIP INVESTMENTS 230391000 F LOANS 12202000 F COMMON COLLECTIVE TRUSTS 56941000 F REGISTERED INVESTMENT COMPANY 3635000 F U.S. GOVERNMENT AGENCY 2147000 F 306912000 0 0 56331000 24370000 31961000 15412000 15412000 47373000 71743000 15412000 15412000 56331000 56331000 PART X, LINE 2 Regarding Required "FIN 48" Financial statement disclosure, there are no uncertain tax positions taken or expect to be taken that would require recognition of a liability (or asset) or disclosure in the fiscal year ended june 30, 2012 financial statements. false false false false false false false false false John Reed 0 255220 0 0 0 0 0 0 0 5156 0 260376 0 0 SUSAN HOCKFIELD 0 696054 0 0 346056 0 41650 0 116117 0 1199877 0 0 SETH ALEXANDER 0 542576 0 556449 0 29000 0 22050 0 25866 0 1175941 0 0 THERESA STONE 0 526981 0 0 42515 0 12250 0 5067 0 586813 0 0 ISRAEL RUIZ 0 326156 0 0 0 5000 0 22050 0 24660 0 377866 0 0 SCHEDULE J, PART II SCHEDULE J, PART II, COLUMN (C) DOES NOT INCLUDE $145,000 OF INCENTIVE COMPENSATION FOR MR. ALEXANDER AS THIS AMOUNT COULD HAVE INCREASED OR DECREASED DEPENDING ON THE PERFORMANCE OF THE ENDOWMENT AND WAS CONTINGENT ON CONTINUED EMPLOYMENT BY MIT. SCHEDULE J, PART III PRESIDENT SUSAN HOCKFIELD AS MIT HAS REPORTED IN PRIOR YEARS, MIT PAYS $125,000 ANNUALLY INTO AN ACCOUNT FOR THE BENEFIT OF THE PRESIDENT. SHE CANNOT ACCESS THAT ACCOUNT BEFORE SHE CEASES SERVING AS MIT'S PRESIDENT OR HAS SERVED FOR 10 YEARS. IN THIS FORM 990, THAT AMOUNT IS 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. POLICIES AND PROCEDURES CONFLICT OF INTEREST, WHISTLEBLOWER AND DOCUMENT RETENTION THE MIT RETIREE WELFARE BENEFIT TRUST ADHERES TO THE WRITTEN POLICIES AND PROCEDURES OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY. PART VI, LINE 11A, REVIEW OF 990 THE FORM 990 IS PREPARED BY TAX SERVICES IN COLLABORATION WITH THE BENEFITS ACCOUNTING GROUP WITHIN MIT'S OFFICE OF THE VICE PRESIDENT FOR FINANCE. THE 990 IS THEN REVIEWED BY COUNSEL, BENEFITS ACCOUNTING, AND OTHER MANAGEMENT WITHIN THE OFFICE OF THE VICE PRESIDENT FOR FINANCE. PART VI, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT)'S POLICIES ARE AVAILABLE ON MIT'S WEBSITE. PART XI, LINE 5 THE OTHER CHANGES IN NET ASSETS INCLUDES INVESTMENT GAINS NOT DISTRIBUTED. MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE CAMBRIDGE MA 02139 042103594 EDUCATION MA LINE 2 NA false