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Space Property

Capital assets which are peculiar to aeronautical and space programs of NASA, including such items as aircraft engines, space vehicles, other similar components, and related support equipment furnished for use as a standard or model, to establish equipment compatibility or such other similar reasons as may be determined by the contracting officer.

Definition

Property, Tax, and Accounting

MIT’s accounting activities touch every aspect of Institute operations. You can rely on VPF’s accounting teams and resources to guide you through financial review and control, sponsored agreements, tax requirements, and equipment and furniture needs.
Topic

Property Tagging Team on the Move

With the opening of campus this fall, the VPF Property Office has resumed the process of in-person tagging of new equipment. Team members Leo Browne, Richard Janus, John Jenkins, and Kerry Johnson are working to address the backlog of untagged equipment purchased since March 2020. Their assignment is to tag…
Publication Date
11/3/2021
News

Office of Insurance Now Part of VPF

The MIT Office of Insurance has recently joined VPF. Led by Director of Insurance Sandy Mitchell, the Insurance team is an important and valued resource for DLCs and the wider MIT community, protecting the Institute from risk of financial loss due to property and casualty-related occurrences. It strives to raise…
Publication Date
10/11/2019
News

Creating an Inventory of Office Equipment and Furniture Used for Remote Work

DLCIs may find it helpful to create an inventory of MIT-owned office equipment and furniture that is being used for remote work. We have created the below email template and MIT-Owned Property Inventory form to assist you in this inventory effort. Creating an inventory is optional, but it can be a helpful tool as you plan for a variety of…
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Equipment Tagging

Every piece of new equipment that your DLCI acquires with a value of $5,000 and above, must be tagged by the VPF Property Office.
Task - Property, Tax, and Accounting

Gifts-in-Kind

A gift-in-kind is a donation of goods, such as equipment, art, or historical items. When your DLCI receives a gift-in-kind, be sure to report the donation to the Office of the Recording Secretary (RSO) and to the Property Office.
Task - Property, Tax, and Accounting

Dispose of Surplus Equipment/Furniture

Although disposing of your DLCI’s surplus equipment and furniture isn’t complicated, you must follow a few key procedures. Here’s how to get started.
Task - Property, Tax, and Accounting

Buy Used Computers or Phones

As a member of the MIT community, you can buy a used laptop, desktop computer, tablet, or smartphone from the Institute. Purchasing surplus equipment is a great way to save money and put good equipment to use while reducing the cost to MIT for disposal of computing devices.
Here’s how to get started.
Task - Property, Tax, and Accounting

Equipment Transfers

Whether coming in or going out, transferred equipment must be properly accounted for by your DLCI. Here’s how to manage the process.
Task - Property, Tax, and Accounting