Form 990 for tax year 2024

Filed by MIT REAL ESTATE FOUNDATION INC.

Totals

Total revenue: $81,000
Total expenses: $86,000
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $0
Investment income: $0
Other revenue: $81,000
Total assets, end of year: $4,249,000
Total liabilities, end of year: $0
Net assets or fund balances, end of year: $4,249,000
Program services expenses (Part IX): $22,000
Management and general expenses: $64,000
Fundraising expenses: $0
Program service expenses (Part III): $22,000

Program services were 25.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
6a · Gross rents

real property $81,000
6c · Rental income or loss

real property $81,000 · personal property $0
6d · Net rental income or loss

total $81,000 · excluded $81,000
7c · Gain or loss

securities $0 · other assets $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

11a · Fees: management

total $6,000 · management and general $6,000
11b · Fees: legal

total $7,000 · management and general $7,000
11c · Fees: accounting

total $16,000 · management and general $16,000
11g · Fees: other

total $2,000 · program services $0 · management and general $2,000 · fundraising $0
13 · Office expenses

total $6,000 · management and general $6,000
14 · Information technology

total $2,000 · management and general $2,000
23 · Insurance

total $3,000 · management and general $3,000
24a · Other expenses: REAL ESTATE PROPERTY TAXES, FEES, AND UTILITIES

total $44,000 · program services $22,000 · management and general $22,000
24e · All other expenses

total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $0 · end of year $28,000
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
10a · Land, buildings and equipment: cost or other basis

$4,221,000
10b · Land, buildings and equipment: accumulated depreciation

$0
10c · Land, buildings and equipment, net

beginning of year $4,754,000 · end of year $4,221,000
12 · Investments: other securities

beginning of year $0
13 · Investments: program-related

beginning of year $0
15 · Other assets

beginning of year $0 · end of year $0
17 · Accounts payable and accrued expenses

beginning of year $3,000 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $0 · end of year $0
27 · Net assets without donor restrictions

beginning of year $4,751,000 · end of year $4,249,000

Mission and programs · 2024

Mission

TO HOLD REAL ESTATE AND ANY OTHER FORM OF PROPERTY FOR THE BENEFIT OF MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT), OF CAMBRIDGE, MASSACHUSETTS, AND OTHERWISE TO AID, ASSIST AND ENABLE MIT TO CARRY OUT ITS EDUCATIONAL AND CHARITABLE PURPOSES, ALL WITHIN THE LIMITATIONS OF SECTION 501(C)(3) AND 509(A)(3) OF THE IRS.

TO HOLD REAL ESTATE AND OTHER FORMS OF PROPERTY FOR THE BENEFIT OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY.

Expenses $22,000

As filed on the 2024 return.

Listed in Part VII

Seth Alexander

President, Treasurer, and Clerk

Total calculated

$4,462,390

From this org

$0

From related orgs

$3,845,075

Other

$617,315

Hours/week

1 + 60 related

Schedule J breakdown matched by us

Base

$0 + $994,577 related

Bonus

$0 + $2,788,083 related

Other

$0 + $62,415 related

Deferred

$0 + $581,546 related

Nontaxable benefits

$0 + $35,769 related

Filer's total

$0 + $4,462,390 related
Patrick Rowe

Assistant Treasurer and Assistant Clerk

Total calculated

$1,885,076

From this org

$0

From related orgs

$1,588,026

Other

$297,050

Hours/week

1 + 60 related

Schedule J breakdown matched by us

Base

$0 + $614,807 related

Bonus

$0 + $947,319 related

Other

$0 + $25,900 related

Deferred

$0 + $292,950 related

Nontaxable benefits

$0 + $4,100 related

Filer's total

$0 + $1,885,076 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 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.

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

No itemized grants to organizations 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.

MASSACHUSETTS INSTITUTE OF TECHNOLOGY

501(c)(3) · EDUCATION · MA

Directly controlled by NA

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 LLC

REAL ESTATE · DE · income $0 · assets $46,512

Directly controlled by MIT REAL ESTATE FOUNDATION INC

Provenance

Return type: form_990
Tax year: 2024
Filed: 15 May 2026
IRS schema version: 2024v5.1
Source object: 202601359349302985

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