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MIT releases financials and endowment figures for 2019

Instituteís pooled investments returned 8.8 percent last year; endowment stands at $17.4 billion.


WEBWIRE
Image: Jake Belcher
Image: Jake Belcher

The Massachusetts Institute of Technology Investment Management Company (MITIMCo) announced that MITís unitized pool of endowment and other MIT funds generated an investment return of 8.8 percent during the fiscal year ending June 30, 2019. At the end of the fiscal year, MITís endowment funds totaled $17.4 billion, excluding pledges.

MITís endowment is intended to support current and future generations of MIT scholars with the resources needed to advance knowledge, research, and innovation. As such, endowment funds are used for Institute activities including education, research, campus renewal, faculty work, and student financial aid.

The Instituteís need-blind undergraduate admissions policy ensures that an MIT education is accessible to all qualified candidates regardless of financial resources. MIT works closely with all families who qualify for financial aid to develop an individual affordability plan tailored to their financial circumstances. In 2018-19, the average MIT scholarship was $47,593. Fifty-nine percent of MIT undergraduates received need-based financial aid, and 36 percent of MIT undergraduate students received scholarship funding from MIT and other sources sufficient to cover the total cost of tuition.

MITIMCo is a unit of MIT, created to manage and oversee the investment of the Instituteís endowment, retirement, and operating funds. As of June 30, 2019 MITIMCo had approximately $25.9 billion of assets under management.

MITís Report of the Treasurer for fiscal year 2019 was made available publicly.


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