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Nonprofiteer
← MIT REAL ESTATE FOUNDATION INC

Form 990 for tax year 2022

Filed by MIT REAL ESTATE FOUNDATION INC.

Totals

Total revenue
-$1,595,000
Total expenses
$4,389,000
Contributions and grants received
$0
Grants paid
$4,324,000
Program service revenue
$0
Investment income
-$1,595,000
Other revenue
$0
Total assets, end of year
$2,816,000
Total liabilities, end of year
$3,000
Net assets or fund balances, end of year
$2,813,000
Program services expenses (Part IX)
$4,372,000
Management and general expenses
$17,000
Fundraising expenses
$0
Program service expenses (Part III)
$4,372,000

Program services were 99.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Seth Alexander

    President, Treasurer, and Clerk

    Total calculated
    $3,093,106
    From this org
    $0
    From related orgs
    $2,635,663
    Other
    $457,443
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $911,111 related
    Bonus
    $0 + $1,666,438 related
    Other
    $0 + $58,114 related
    Deferred
    $0 + $425,126 related
    Nontaxable benefits
    $0 + $32,317 related
    Filer's total
    $0 + $3,093,106 related

  • Patrick Rowe

    Assistant Treasurer and Assistant Clerk (Incoming)

    Total calculated
    $1,330,154
    From this org
    $0
    From related orgs
    $1,137,172
    Other
    $192,982
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $453,095 related
    Bonus
    $0 + $671,360 related
    Other
    $0 + $12,717 related
    Deferred
    $0 + $189,344 related
    Nontaxable benefits
    $0 + $3,638 related
    Filer's total
    $0 + $1,330,154 related

  • Steven Marsh

    Assistant Treasurer and Assistant Clerk (Outgoing)

    Total calculated
    $3,037,988
    From this org
    $0
    From related orgs
    $2,549,994
    Other
    $487,994
    Hours/week
    1 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $636,312 related
    Bonus
    $0 + $1,881,797 related
    Other
    $0 + $31,885 related
    Deferred
    $0 + $464,042 related
    Nontaxable benefits
    $0 + $23,952 related
    Filer's total
    $0 + $3,037,988 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
Employees of the MIT Investment Management Company are eligible for incentive compensation based on the performance of the Institute's investments. A portion of their incentive compensation is paid in an initial calendar year, and the remainder is deferred to being paid in the subsequent calendar year contingent on continued service to MITIMCo through specified dates. Incentive compensation actually paid in calendar year 2022 is reflected in Column B(ii). This includes incentive compensation from prior calendar years for which payment was deferred, contingent on continued service. That amount is listed in Column F. Calendar year 2022 incentive compensation for which payment has been deferred contingent on continued service is included in Column C.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • FIDGAD

    REAL ESTATE · DE · income $0 · assets $1,847,000

    Directly controlled by MIT REAL ESTATE FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202441359349304999

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