Massachusetts Institute of Technology Welfare Benefit Plans T

Analysis

Massachusetts Institute of Technology Welfare Benefit Plans T is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in April 1993, 33 years ago. Its declared purposes cover mutual and membership benefit, which this site groups under other charitable purposes. The IRS classifies it as a supporting organisation 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 Welfare Benefit Plans T reported income of $75.9m and spending of $51.0m, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.7m to $75.9m (+220%), an average of +34% a year. The sharpest change came in the year to June 2022, when income rose by 178%. Over the whole period it spent 53% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Massachusetts Institute of Technology Welfare Benefit Plans T sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Independent Order of Odd Fellows ($75.8m), Brockton Neighborhood Health Center Inc ($76.5m) and Careconnect Health Inc ($75.7m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 31% of the total. At year end it held assets of $937.7m against liabilities of $23.0m, net assets of $914.7m.