The Mitre Corporation

Analysis

The Mitre Corporation is a registered charity in United States, based in Bedford, MA. It received its IRS tax-exemption ruling in July 1960, 66 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Mitre Corporation reported income of $2.37bn and spending of $2.32bn, spending 98% of its income. Across the 6 years on record, from September 2019 to December 2023, income grew from $1.84bn to $2.37bn (+29%), an average of +5.2% a year. The sharpest change came in the year to December 2022, when income rose by 335%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Mitre Corporation 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 Smithsonian Institute ($1.88bn), Advanced Technology International ($4.26bn) and Aerospace Corporation ($1.30bn).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $25.5m (1.1% of expenses). Other salaries and wages came to $1.28bn. At year end it held assets of $1.13bn against liabilities of $385.1m, net assets of $745.0m. It reported 10,591 employees.