Massachusetts Institute of Technology

Category
Registered Name
Massachusetts Institute of Technology
Tax ID
04-2103594

Overview

The Massachusetts Institute of Technology is a private research university in Cambridge, Massachusetts, United States. Founded in 1861 in response to the increasing industrialization of the United States, MIT adopted a European polytechnic university model and stressed laboratory instruction in applied science and engineering. Researchers worked on computers, radar and inertial guidance during World War II and the Cold War. Post-war defense research contributed to the rapid expansion of the faculty and campus under James Killian. The current campus opened in 1916 and extends over along the northern bank of the Charles River basin.

Source: Wikipedia

Financials

$4b
Annual Budget
June 2018
+3% Growth
Program Spending
80%
Fundraising Spending
1%
Management Spending
19%

Programs

Sponsored Research

$1b

MIT's Cambridge, MA campus provides a fertile setting for research that has spawned a host of scientific breakthroughs and technological advances. Primarily sponsored by federal grants and contracts, research at MIT aims to develop innovative solutions to the world's most daunting challenges. From addressing the energy needs of tomorrow to improving cancer therapies and more, mit's research efforts are enhanced through creative collaborations in interdisciplinary labs and with leading research institutes and consortia around the world.

Instruction and Unsponsored Research

$1b

MIT is committed to providing a world-class education to our approximately 4,500 undergraduates and approximately 6,900 graduate students. The focus of instruction is not only scientific and technical, but includes a strong humanities component and emphasizes creative problem solving. MIT's five schools (science; engineering; humanities, arts & social sciences; architecture & planning; and management) create the foundation of a rigorous mit education, which is heightened by service to communities around the world.

Scholarships and Fellowships

$347m

MIT's undergraduate financial aid program ensures that an mit education is accessible to all qualified candidates regardless of their financial resources. MIT remains dedicated to providing financial aid to meet the full cost of an MIT education, based on the needs of the family. In 2017-2018, approximately 57% of all undergraduates received some type of need-based financial aid from MIT. Financial aid for graduate students includes fellowships, traineeships, teaching and research assistantships, and loans.

Source: IRS 990