Massachusetts Institute of Technology

Analysis

Massachusetts Institute of Technology is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in October 1926, 100 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Massachusetts Institute of Technology reported income of $4.95bn and spending of $4.90bn, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.31bn to $4.95bn (-6.7%), an average of -1.7% a year. The sharpest change came in the year to June 2023, when income dropped by 22%. Over the whole period it spent 81% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Massachusetts Institute of Technology sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include University of Chicago ($4.66bn), Ecmc Group Inc ($5.04bn) and Icahn School of Medicine at Mount Sinai ($4.16bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $13.5m (0.3% of expenses). Other salaries and wages came to $1.86bn. It paid $383k in professional fundraising fees. At year end it held assets of $38.59bn against liabilities of $6.43bn, net assets of $32.16bn. It reported 27,330 employees.