Massachusetts Institute of Technology (MIT) is a private teaching and research university with an acceptance rate at about 7% of applicants. Located in Boston, Massachusetts, MIT has about 12,000 students, of which nearly 5,000 are undergraduates. The annual tuition, room, board, and fees is about $80,000.
There are 10 voting members of the governing body (Executive Committee Members), 7 of whom are independent, although the Form 990 lists 11 members (which appears to be due to timing differences). 8 of the 11 (73%) are male while 3 of the 11 (27%) are female.
In 2020, MIT’s total revenue was $4.8 billion (compared to $5.3 billion in 2019) with most of the income coming from 4 sources: research contracts ($1.4 billion), investment income, gains, and royalties ($1.2 billion), contributions, gifts, and grants ($1 billion) and tuition, fees, and services ($1.1 billion). Expenses were $4 billion (not including $200 million in depreciation). At year-end, MIT had $24 billion in net fund assets. Read more