The Massachusetts Institute of Technology Investment Management Company (MITIMCo) today announced that the MIT Unified Endowment Pool and other MIT funds generated a 5.3% investment loss in the fiscal year ending June 30, 2022, as measured using valuations received within one month of the fiscal year end. At the end of the fiscal year, MIT’s endowment funds stood at $24.6 billion, excluding pledges.
The MIT 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 Institute’s need-blind undergraduate admissions policy ensures that an education at MIT is accessible to all qualified applicants, regardless of financial resources. MIT works closely with all families eligible for financial assistance to develop an individual affordability plan tailored to their financial circumstances. In 2021-22, the average need-based MIT scholarship was $53,997. Fifty-eight percent of MIT undergraduate students received need-based financial aid, and 37 percent of MIT undergraduate students received MIT scholarships and other sources sufficient to cover the total tuition cost. Starting in fiscal year 2023, MIT has enhanced undergraduate financial aid, ensuring that all families with assets and typical incomes below $140,000 (previously set at $90,000) will have tuition fees. tuition fully covered by scholarships.
MITIMCo is a unit of MIT, created to manage and oversee the investment of the Institute’s endowment, pension, and operating funds.
The MIT Treasurer’s report for fiscal year 2022 was released today.