Liabilities / Assets
12th percentile
Higher debt load relative to assets than 12% of similar nonprofits.
Mit International Inc
EIN 81-2731492 • 501(c)3 • Cambridge, MA
Profile
The corporation is organized and shall be operated exclusively for charitable, educational, and scientific purposes.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.00x
Liabilities / Revenue
10th percentile
Higher debt load relative to revenue than 10% of similar nonprofits.
Net Margin
82nd percentile
Higher net margin than 82% of similar nonprofits.
Top Officer Pay
96th percentile
Higher top officer pay than 96% of similar nonprofits.
Top officer pay equals 7.8% of source-year revenue.
Asset Growth
68th percentile
Faster asset growth than 68% of similar nonprofits.
Revenue Growth
6th percentile
Faster revenue growth than 6% of similar nonprofits.
Balance Sheet
Assets
Up$20,636,000
Up $1,912,000 (+10%) from 2023
Liabilities
Down$95,000
Down $1,940,000 (-95%) from 2023
Net Assets
Up$20,541,000
Up $3,852,000 (+23%) from 2023
Revenue
Down$12,850,000
Down $10,484,000 (-45%) from 2023
Expenses
Up$8,736,000
Up $353,000 (+4.2%) from 2023
Net Income
Down$4,114,000
Down $10,837,000 (-72%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $20,636,000
- Liabilities
- $95,000
- Net assets
- $20,541,000
- Revenue
- $12,850,000
- Expenses
- $8,736,000
- Net income
- $4,114,000
Latest Filing Detail
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2023 to Jun 30, 2024
- Signed
- May 14, 2025
- Return Version
- 2023v6.0
- Gross Receipts
- $12,850,000
Mission and Program Overview
Mission
The corporation is organized and shall be operated exclusively for charitable, educational, and scientific purposes.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Pledges and Grants Receivable | $15,830,000 | $20,101,000 | ▲ $4,271,000 |
| Cash and Non-Interest-Bearing Accounts | $2,277,000 | $334,000 | ▼ $1,943,000 |
| Savings and Temporary Cash Investments | $611,000 | $187,000 | ▼ $424,000 |
| Accounts Receivable | $6,000 | $14,000 | ▲ $8,000 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | - | - |
| Investments Program Related | $0 | - | - |
| Land, Buildings, and Equipment, Net | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $18,724,000 | $20,636,000 | ▲ $1,912,000 |
| Other Assets Total | $0 | $0 | → $0 |
| Liabilities | |||
| Grants Payable | $2,035,000 | $95,000 | ▼ $1,940,000 |
| Other Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $2,035,000 | $95,000 | ▼ $1,940,000 |
| Net Assets / Fund Balance | |||
| Net Assets With Donor Restrictions | $13,801,000 | $20,122,000 | ▲ $6,321,000 |
| Net Assets Without Donor Restrictions | $2,888,000 | $419,000 | ▼ $2,469,000 |
| Total Net Assets Fund Balance | $16,689,000 | $20,541,000 | ▲ $3,852,000 |
| Total Liabilities and Net Assets / Fund Balance | $18,724,000 | $20,636,000 | ▲ $1,912,000 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Nina VanWormer | Associate Director, Global Investment Legal Services | PT | $169,167 | $129,582 | $298,749 |
| Charleston Sin | Executive Director, MIT Hong Kong Innovation Node | FT | $208,098 | $10,405 | $218,503 |
| Marina Chan | Senior Director - MIT Hong Kong Innovation Node, Head of Education | FT | $165,582 | $8,279 | $173,861 |
| Sunnie Lau | Director of Smart City Research and Industry Collaboration - MIT Hong Kong Innovation Node | FT | $134,463 | $6,723 | $141,186 |
Board Members and Trustees
| Name | Title |
|---|---|
| Richard Lester | President |
| Magdalene Lee | Vice President |
| Cynthia Barnhart | Director |
| Glen Shor | Director |
| Maria Zuber | Director |
| Mark DiVincenzo | Director |
| Matthew Fucci | Clerk |
| Katherine Hammer | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $11,855,000
- Program Service Revenue
- $898,000
- Investment Income
- $11,000
- Other Revenue
- $86,000
- All Other Contributions
- $11,855,000
- Change in Net Assets
- $4,114,000
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Grants and Similar Amounts Paid | $7,359,000 |
| Salaries, Compensation, and Employee Benefits | $1,022,000 |
| Other Expenses | $355,000 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Grants to Domestic Orgs | $7,359,000 | - | - | $7,359,000 |
| Other Salaries and Wages | $985,000 | - | - | $985,000 |
| Other Employee Benefits | $37,000 | - | - | $37,000 |
| Occupancy | $22,000 | - | - | $22,000 |
| Other Expenses | $13,000 | - | - | $13,000 |
| Fees for Services Accounting | $8,000 | - | - | $8,000 |
| Total Functional Expenses | $8,736,000 | $0 | $0 | $8,736,000 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| Massachusetts Institute of Technology | Cambridge, MA | 501(c)(3) | Fundraising Transfers | $7,359,000 |
International Summary
- Offices
- 3
- Employees
- 11
- Spending
- $8,735,000
International Compliance
- Activity in boycott countries
- No
- Foreign corporation ownership
- Yes
- Foreign partnership interest
- No
- Interest in foreign trust
- No
- Passive foreign investment company interest
- No
- Transfers to foreign corporations
- No
International Activities
| Region | Activity | Services | Offices | Employees | Spending |
|---|---|---|---|---|---|
| East Asia and the Pacific | Program Services | Entrepreneurial Courses and Training | 1 | 10 | $6,252,000 |
| Europe (Including Iceland and Greenland) | Fundraising | Educational program development and advising | 1 | 1 | $2,483,000 |
| Sub-Saharan Africa | Program Services | - | 1 | 0 | $0 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Advance from MIT | - |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with 35% controlled entity
- No
- Business relationship with family members
- No
- Business relationship with organization members
- No
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- No
- Other officer compensation reviewed
- No
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- Yes
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Line 2 Business Relationship
“All officers and directors of MIT International, Inc. are officers, directors and/or employees of MIT.”
Form 990, Part VI, Line 6 Classes of members or stockholders
“The massachusetts institute of technology is the sole member of mit international.”
Form 990, Part VI, Line 7A Members or stockholders electing members of governing body
“The sole member's president determines the size of the board , which may not have fewer than three members. Two senior administrators of the sole member serve on the board ex officio, although each may designate another to serve in his or her stead. The remainder of the board is elected by the sole member's president.”
Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders
“THE SOLE MEMBER SHALL HAVE THE FOLLOWING POWERS AND RIGHTS OF THE CORPORATION: (i) TO APPROVE ALL AMENDMENTS TO THE ARTICLES OF ORGANIZATION OF THE CORPORATION; (ii) TO APPROVE ALL AMENDMENTS TO THE BYLAWS OF THE CORPORATION; (iii) TO APPROVE ANY SALE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY OF THE CORPORATION; (iv) TO APPROVE DISSOLUTION, CONSOLIDATION, OR MERGER OF THE CORPORATION; (v) SUCH OTHER POWERS AND RIGHTS AS ARE VESTED BY LAW IN MEMBERS OF A CORPORATION ORGANIZED UNDER CHAPTER 180 OF THE GENERAL LAWS OF MASSACHUSETTS, BY THE ARTICLES OF ORGANIZATION, AND/OR BY THE BYLAWS OF THE ORGANIZATION; (vi) SUCH OTHER POWERS AND RIGHTS AS THE SOLE MEMBER MAY DESIGNATE.”
Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body
“There are no such committees with authority to act on behalf of the governing body.”
Form 990, Part VI, Line 11B Review of form 990 by governing body
“Mit international's officer responsible for tax matters reviews the form 990 for accuracy and completeness.”
Form 990, Part VI, Line 12C Conflict of interest policy
“Annual disclosure the organization's policy requires that covered individuals annually acknowledge in writing that they are aware of the policy and identify any relationships or responsibilities that have the potential of producing conflicts of interest. Each year, disclosure forms are distributed to those covered by the policy. If a response reveals a conflict or potential conflict, such conflict is referred to the appropriate individual or body for consideration and management. Ad hoc disclosure in addition to the annual disclosure process, potential conflicts of interest of individuals serving mit international will be raised, considered and addressed on an ad hoc basis. If a conflict is identified, the conflict is either eliminated or managed.”
Form 990, Part VI, Line 19 Required documents available to the public
“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”
Form 990, Part VIII, Line 11D Other Miscellaneous Revenue
“- Total Revenue: 86000, Related or Exempt Function Revenue: 86000, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”
Filing and Contact Details
Filer
- Filer Name
- MIT International Inc
- EIN
- 81-2731492
- Phone
- 6172589884
- Address
- 77 Massachusetts Avenue NE49-3142, Cambridge, MA 02139
Signing Officer
- Name
- Katherine Hammer
- Title
- Treasurer
- Phone
- 6172589884
- Signed
- 2025-05-14
Organization Details
- Formed
- 2016
- Legal Domicile
- Ma
- Voting Board Members
- 5
- Independent Board Members
- 0
- Employees
- 0
- Volunteers
- 0
Supplemental Narrative
Additional Explanations
Form 990, Part I, Line 5
“There are employees based in Hong Kong and the United Kingdom who do not receive W-2 Income.”
Form 990, Part XI, Line 9 Other changes in net assets or fund balances
“OTHER CHANGES - -262000;”
Financial Statement Notes
Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
“Mit international inc. Is a subsidiary of the massachusetts institute of technology (mit). Mit international inc.'s financial statements are prepared and audited on a consolidated basis with mit. Us gaap requires mit to evaluate tax positions taken by the institute and recognize a tax liability (or asset) if the institute has taken an uncertain position that more likely than not would not be sustained upon examination by the irs. Mit has analyzed the tax positions taken and has concluded that as of june 30, 2024, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.”
Raw XML AppendixShowing 400 of 767 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 10 | Associate Director, Global Investment Legal Services |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 11 | Director of Smart City Research and Industry Collaboration - MIT Hong Kong Innovation Node |
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| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | DESCRIPTION - , COLUMN A - , COLUMN B - , COLUMN C - , COLUMN D - 52000.0, COLUMN E - 86000.0, COLUMN F - 138000.0; |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | MIT INTERNATIONAL INC. IS A SUBSIDIARY OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY (MIT). MIT INTERNATIONAL INC.'S FINANCIAL STATEMENTS ARE PREPARED AND AUDITED ON A CONSOLIDATED BASIS WITH MIT. US GAAP REQUIRES MIT TO EVALUATE TAX POSITIONS TAKEN BY THE INSTITUTE AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE INSTITUTE HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MIT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2024, THERE ARE NO SIGNIFICANT UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. |
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| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt | 2 | Sub-Saharan Africa |
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| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | MIT INTERNATIONAL INC. DISTRIBUTES GIFTS TO THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY. IT DOES SO BY WAY OF ITS DISREGARDED SUBSIDIARIES, MIT HONG KONG FOUNDATION LIMITED AND MIT FOUNDATION (UK) LIMITED. THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY HAS RIGOROUS CONTROLS AND PROCEDURES TO ENSURE PROPER USE OF FUNDING IN THE U.S. TO ALIGN WITH THE MISSIONS OF THE MASSACHUSETTS INSTITUTE OF TECHNOLOGY, MIT INTERNATIONAL INC., THE MIT HONG KONG FOUNDATION LIMITED AND MIT FOUNDATION (UK) LIMITED. |
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