This data is for calendar year 2010, from Jan. 1, 2010 through Dec. 31, 2010, and comes from MIT’s IRS Form 990, the tax return for non-profits, which was filed May 15, 2012 for tax year 2010.
“Base compensation” is “nondiscretionary payments to a person agreed upon in advance, contingent only on the payee’s performance of agreed-upon services (such as salary or fees),” from column B(i) of Schedule J Part II of the form.
“Paid compensation” is the “reportable compensation from the organization (W-2/1099-MISC)” column from Part VII Section A of the 990. “Total compensation” includes that as well as “retirement and other deferred compensation” and “nontaxable benefits” from column E of Schedule J Part II of the form.
The percentage changes (% columns) are based on paid compensation, but the differences (∆) are based on total compensation.
Form 990 includes compensation to current and former “officers, directors, trustees, and key employees” as well as “the five current highest compensated employees,” of which Donald R. Lessard is the lowest-compensated. Therefore, the list beneath Lessard is not comprehensive.
† MIT Investment Management Company (MITIMCo) employees compensations do not include incentive compensation which “could have increased or decreased depending on the performance of the endowment” and are contingent on continued employment by MIT.
* Four MIT officers served as directors of outside companies and receive substantial fees for doing so. See separate table.
‡ Professors Repenning and Lessard appear because of their participation in the Sloan School of Management’s Executive Education program (see http://mitsloan.mit.edu/execed). Repenning is faculty director of the BP Operations Academy
§ John S. Reed took over as Chairman of the MIT Corporation from Dana G. Mead in July, 2010. Each served for half of a term, and their compensation reflects that.