Treasury and Planning analyzes financial variables and contingencies while developing and applying complex analytical tools to help inform the Institute’s financial decision making. The team weighs interrelated factors—including the General Institute Budget, the endowment, economic indicators, and the mission of MIT—in order to provide guidance on strategic decisions. It manages relationships with MIT’s operating and investment banks and rating agencies to provide debt financing to support MIT’s capital plan.
The Treasury and Planning unit—consisting of the director and a team of senior financial analysts, collaborates closely with VPF’s Budget and Financial Analysis unit, and a large cross-section of MIT administrative units including Campus Construction, Office of the General Counsel (OGC), and the MIT Investment Managing Company (MITIMCo).
Recent Institute projects include:
- Support for the launch of The Engine, MIT’s ambitious startup accelerator, including renovating its Headquarters in Central Square; setting up its corporate structure and that of its associated investment fund; and working with administrative departments across campus to launch The Engine Room, an online resource marketplace for entrepreneurs.
- Financial analysis and support for the Summit Farms power purchase agreement supporting purchasing and marketing power from a solar farm in North Carolina, which has the potential to offset MIT’s carbon emissions by 40 percent.
- Completion of the sale of $500 million in Series E Taxable Bonds, maturing in 2116 and yielding 3.885%, This yield marks an all-time low for the costs of a 100-year bond in the US higher education market. Proceeds from the sale of these “century bonds” will be used to further advance MIT’s ongoing campus renewal and development program, including academic and research capital projects within the MIT 2030 framework.
See Bond Documents from January 1998 through July 2016.