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← MASSACHUSETTS INSTITUTE OF TECHNOLOGY

Form 990 for tax year 2024

Filed by MASSACHUSETTS INSTITUTE OF TECHNOLOGY.

Totals

Total revenue
$6,737,799,000
Total expenses
$5,505,788,000
Contributions and grants received
$1,211,505,000
Grants paid
$706,619,000
Program services expenses (Part IX)
$4,451,762,000
Management and general expenses
$983,887,000
Fundraising expenses
$70,139,000
Program service expenses (Part III)
$4,451,762,000

Program services were 80.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Glen Shor

    Executive VP and Treasurer

    Total calculated
    $1,027,167
    From this org
    $950,529
    From related orgs
    $0
    Other
    $76,638
    Hours/week
    60 + 3 related

    Schedule J breakdown matched by us

    Base
    $888,554
    Bonus
    $10,000
    Other
    $51,975
    Deferred
    $40,713
    Nontaxable benefits
    $35,925
    Filer's total
    $1,027,167

  • Sally Kornbluth

    President

    Total calculated
    $2,151,788
    From this org
    $1,734,292
    From related orgs
    $0
    Other
    $417,496
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $1,571,812
    Bonus
    $0
    Other
    $162,480
    Deferred
    $260,820
    Nontaxable benefits
    $156,676
    Filer's total
    $2,151,788

  • David M Siegel

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Fariborz Maseeh

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Janet C Wolfenbarger

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Leslye Miller Fraser

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Mark P Gorenberg

    Chair of the Corporation

    Total calculated
    $55,800
    From this org
    $55,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Noubar B Afeyan

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Orit Gadiesh

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Patricia R Callahan

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Paul R Marcus

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Ray A Rothrock

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Richard M Locke

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Russell Erich Caulfield

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Wesley G Bush

    Executive Committee Member

    Total calculated
    $0
    Hours/week
    5

  • Rachel J Donahue

    Secretary

    Total calculated
    $345,359
    From this org
    $273,940
    From related orgs
    $0
    Other
    $71,419
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $269,940
    Bonus
    $4,000
    Other
    $0
    Deferred
    $30,115
    Nontaxable benefits
    $41,304
    Filer's total
    $345,359

  • Alfred Ironside

    VP for Communications

    Total calculated
    $581,900
    From this org
    $504,024
    From related orgs
    $0
    Other
    $77,876
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $475,885
    Bonus
    $15,000
    Other
    $13,139
    Deferred
    $43,320
    Nontaxable benefits
    $34,556
    Filer's total
    $581,900

  • Cynthia Barnhart

    Provost

    Total calculated
    $1,103,532
    From this org
    $1,084,227
    From related orgs
    $0
    Other
    $19,305
    Hours/week
    60 + 5 related

    Schedule J breakdown matched by us

    Base
    $1,013,373
    Bonus
    $10,000
    Other
    $60,854
    Deferred
    $17,250
    Nontaxable benefits
    $2,055
    Filer's total
    $1,103,532

  • Ian Waitz

    VP for Research

    Total calculated
    $733,546
    From this org
    $636,051
    From related orgs
    $0
    Other
    $97,495
    Hours/week
    60 + 1 related

    Schedule J breakdown matched by us

    Base
    $613,267
    Bonus
    $0
    Other
    $22,784
    Deferred
    $62,100
    Nontaxable benefits
    $35,395
    Filer's total
    $733,546

  • Julie Lucas

    VP for Resource Development

    Total calculated
    $754,021
    From this org
    $701,532
    From related orgs
    $0
    Other
    $52,489
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $670,087
    Bonus
    $0
    Other
    $31,445
    Deferred
    $40,713
    Nontaxable benefits
    $11,776
    Filer's total
    $754,021

  • Mark DiVincenzo

    VP and General Counsel

    Total calculated
    $977,844
    From this org
    $879,429
    From related orgs
    $0
    Other
    $98,415
    Hours/week
    60 + 1 related

    Schedule J breakdown matched by us

    Base
    $824,929
    Bonus
    $10,000
    Other
    $44,500
    Deferred
    $62,100
    Nontaxable benefits
    $36,315
    Filer's total
    $977,844

  • Melissa Choi

    Director of Lincoln Laboratory

    Total calculated
    $579,346
    From this org
    $534,440
    From related orgs
    $0
    Other
    $44,906
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $525,000
    Bonus
    $0
    Other
    $9,440
    Deferred
    $44,850
    Nontaxable benefits
    $56
    Filer's total
    $579,346

  • Melissa Nobles

    Chancellor

    Total calculated
    $772,733
    From this org
    $684,508
    From related orgs
    $0
    Other
    $88,225
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $643,730
    Bonus
    $0
    Other
    $40,778
    Deferred
    $62,100
    Nontaxable benefits
    $26,125
    Filer's total
    $772,733

  • Seth Alexander

    President of MITIMCo

    Total calculated
    $4,462,390
    From this org
    $3,845,075
    From related orgs
    $0
    Other
    $617,315
    Hours/week
    60 + 2 related

    Schedule J breakdown matched by us

    Base
    $994,577
    Bonus
    $2,788,083
    Other
    $62,415
    Deferred
    $581,546
    Nontaxable benefits
    $35,769
    Filer's total
    $4,462,390

  • Whitney Espich

    CEO, MIT Alumni Association

    Total calculated
    $431,297
    From this org
    $351,240
    From related orgs
    $0
    Other
    $80,057
    Hours/week
    60 + 1 related

    Schedule J breakdown matched by us

    Base
    $349,585
    Bonus
    $0
    Other
    $1,655
    Deferred
    $42,017
    Nontaxable benefits
    $38,040
    Filer's total
    $431,297

  • Joel Cohen

    Global Investment Professional, MITIMCo

    Total calculated
    $2,610,835
    From this org
    $2,132,811
    From related orgs
    $0
    Other
    $478,024
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $539,270
    Bonus
    $1,580,662
    Other
    $12,879
    Deferred
    $443,550
    Nontaxable benefits
    $34,474
    Filer's total
    $2,610,835

  • L Rafael Reif

    Professor (Former President)

    Total calculated
    $1,849,830
    From this org
    $1,807,611
    From related orgs
    $0
    Other
    $42,219
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $747,589
    Bonus
    $0
    Other
    $1,060,022
    Deferred
    $17,250
    Nontaxable benefits
    $24,969
    Filer's total
    $1,849,830

  • Navneeth Harikumar

    Global Investment Professional, MITIMCo

    Total calculated
    $2,929,985
    From this org
    $2,406,464
    From related orgs
    $0
    Other
    $523,521
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $546,870
    Bonus
    $1,859,594
    Other
    $0
    Deferred
    $511,803
    Nontaxable benefits
    $11,718
    Filer's total
    $2,929,985

  • Ryan Akkina

    Global Investment Professional, MITIMCo

    Total calculated
    $2,919,331
    From this org
    $2,372,792
    From related orgs
    $0
    Other
    $546,539
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $534,255
    Bonus
    $1,823,473
    Other
    $15,064
    Deferred
    $506,050
    Nontaxable benefits
    $40,489
    Filer's total
    $2,919,331

  • Thomas Wieand

    Global Investment Professional, MITIMCo

    Total calculated
    $2,973,895
    From this org
    $2,411,804
    From related orgs
    $0
    Other
    $562,091
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $537,103
    Bonus
    $1,857,245
    Other
    $17,456
    Deferred
    $525,450
    Nontaxable benefits
    $36,641
    Filer's total
    $2,973,895

  • Eric Evans

    Professor (Former Director of Lincoln Laboratory)

    Total calculated
    $884,699
    From this org
    $833,185
    From related orgs
    $0
    Other
    $51,514
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $789,480
    Bonus
    $0
    Other
    $43,705
    Deferred
    $17,250
    Nontaxable benefits
    $34,264
    Filer's total
    $884,699

  • Maria Zuber

    Presidential Advisor for Science and Technology Policy (Former VP for Research)

    Total calculated
    $652,313
    From this org
    $609,859
    From related orgs
    $0
    Other
    $42,454
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $585,839
    Bonus
    $0
    Other
    $24,020
    Deferred
    $17,250
    Nontaxable benefits
    $25,204
    Filer's total
    $652,313

  • Sanjay Sarma

    Professor (Former VP for Open Learning)

    Total calculated
    $144,759
    From this org
    $117,169
    From related orgs
    $0
    Other
    $27,590
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $117,169
    Deferred
    $0
    Nontaxable benefits
    $27,590
    Filer's total
    $144,759

  • W Eric Grimson

    Chancellor for Academic Advancement (Former Interim VP for Open Learning)

    Total calculated
    $649,031
    From this org
    $606,669
    From related orgs
    $0
    Other
    $42,362
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $585,029
    Bonus
    $0
    Other
    $21,640
    Deferred
    $17,250
    Nontaxable benefits
    $25,112
    Filer's total
    $649,031

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 — 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

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel
MIT ALLOWS BUSINESS/FIRST CLASS TRAVEL AND COMPANION TRAVEL PURSUANT TO GUIDELINES INCLUDED IN A WRITTEN TRAVEL POLICY. ALL MIT EMPLOYEES, INCLUDING OFFICERS, TRUSTEES, KEY EMPLOYEES AND HIGHLY COMPENSATED INDIVIDUALS, ARE SUBJECT TO THE SAME WRITTEN TRAVEL POLICY.
Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
TWO OF THE INDIVIDUALS DISCLOSED IN SCHEDULE J RECEIVED PAYMENTS GROSSED UP FOR TAXES.
Schedule J, Part I, Line 1a Housing allowance or residence for personal use
THE MIT PRESIDENT IS REQUIRED TO LIVE IN AN MIT-OWNED CAMPUS RESIDENCE AS A CONDITION OF EMPLOYMENT AND AS A CONVENIENCE TO MIT. IRS RULES REQUIRE MIT TO ESTIMATE A VALUE FOR SUCH USE AND TO INCLUDE THE VALUE IN THE PRESIDENT'S TOTAL COMPENSATION AS A "NONTAXABLE BENEFIT" (SCHEDULE J, PART II, COLUMN (D)). AS CALCULATED PURSUANT TO IRS RULES, THE ESTIMATED VALUE IS $144,900 FOR THE PRESIDENT IN CALENDAR YEAR 2024.
Schedule J, Part I, Line 1a Personal services
MIT PAYS FOR HOUSEKEEPING OF THE PUBLIC AREAS OF THE PRESIDENT'S HOUSE. FOR THE EXPENSES RELATED TO HOUSEKEEPING SERVICES FOR THE PORTION OF THE MIT-OWNED RESIDENCE USED BY THE PRESIDENT'S FAMILY AS THEIR PRIVATE RESIDENCE, MIT INCLUDES THE AMOUNT IN THE PRESIDENT'S TAXABLE INCOME.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
MIT maintains a deferred compensation account for the former President. The former President received a distribution of $875,000 from the account during the year. MIT also maintains a deferred compensation account for the President. Under the terms of the plan, $217,500 was credited to the account in calendar year 2024. This amount is reflected in Schedule J, Part II, Column C. This amount is a credit only and is subject to vesting requirements. The President did not receive any payments from the account during the year. 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 2024 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 2024 incentive compensation for which payment has been deferred contingent on continued service is included in Column C.
Schedule J, Part I, Line 7 Non-fixed payments
THE MIT INVESTMENT MANAGEMENT COMPANY PAYS CERTAIN EMPLOYEES NON-FIXED AMOUNTS PURSUANT TO AN INCENTIVE COMPENSATION PROGRAM THAT BASES COMPENSATION PAYMENTS ON A NUMBER OF FACTORS. THE PRIMARY BASIS FOR INCENTIVE COMPENSATION PAYMENTS IS THE PERFORMANCE OF MIT'S ENDOWMENT RELATIVE TO PEER AND MARKET BENCHMARKS. THIS IS A COMMON PRACTICE IN HIGHER ED ENDOWMENT MANAGEMENT. IN OTHER INSTANCES, MIT MAY OFFER OTHER EMPLOYEES BONUS PAYMENTS FOR OUTSTANDING PERFORMANCE FROM TIME TO TIME.
Schedule J, Part II FORM 990, PART VII, SECTION A
THE INDIVIDUALS DISCLOSED IN PART VII OF FORM 990 OFTEN DEVOTE MORE HOURS TO THEIR POSITION THAN THE NUMBER OF HOURS LISTED, WHICH REPRESENT ESTIMATES OF AVERAGE HOURS. INDIVIDUALS WHO ARE ALSO ON THE BOARDS OF MIT'S SUBSIDIARIES AND RELATED ORGANIZATIONS WORK ADDITIONAL HOURS PER WEEK AS LISTED IN COLUMN (B) OF FORM 990, PART VII.

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

The 10 largest by cash amount. The API serves every itemized grant.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.1
Source object
202601359349306115

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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