Video intro to MIT’s finances

Dear staff and faculty colleagues,

Almost since I arrived at MIT, I’ve heard from people across the Institute that they would like to better understand various aspects of our finances – so I’m pleased to share a new video summary that answers a range of common questions.

Given MIT’s size and complexity, our finances are complex too. Executive Vice President and Treasurer Glen Shor, Provost Cindy Barnhart and their respective teams work together to budget and manage Institute finances on a day-to-day basis.

However, I think everyone at MIT would find it helpful if we had some shared understanding of the big picture, because how funds flow here affects everything we do – how we fund research, how we support financial aid, how we keep the lights on and more.

In that spirit, Glen has developed this video – a kind of “MIT Finances 101.” It runs about 35 minutes, and it’s broken into clear sections so you can click through easily:

• Introduction
• Where do MIT’s resources come from?
• How do we use our resources?
• How and when do these decisions get made?

I hope you find it informative and helpful, and that it will provide a foundation of shared knowledge for future conversations, both at the Institute level and in your own units.

With appreciation for all you do to keep MIT running smoothly,

Sally Kornbluth
President