Mechanics of giving
This section provides you with the nuts-and-bolts information you need to complete a cash-based transaction. If you have questions, please contact us.
| Cash, checks, credit cards | Electronic funds transfers (EFTs) | |
| Bank wire transfers | Payroll deductions | |
| Donor-advised funds | Securities |
Cash, checks, credit cards
Gifts of cash are among the most valuable forms of support for MIT. Because they are immediately available (and are often unrestricted), they give the Institute the flexibility to meet its most pressing needs.
To make a credit card gift, you can give now using our secure server, or call 617.253.8270 to provide your credit card information over the phone.
Cash gifts made by check should be payable to MIT, and mailed with your contribution form (pdf format) or a letter stating your gift’s purpose to:
MIT Annual Fund
Massachusetts Institute of Technology
600 Memorial Drive, W98-200
Cambridge, MA 02139-4822
Phone: 617.253.8270
E-mail: (JavaScript must be enabled to view this email address)
MIT is a 501(c)(3) institution, and your gift is tax-deductible within the limitations of U.S. federal income tax laws. Our tax identification number is 04-2103594.
Bank wire transfers/ACH
Gifts in U.S. dollars and in foreign currency may be wired directly from your bank to MIT’s bank by providing your bank with the following wire transfer instructions:
Name of bank to wire funds: Bank of America, NA
Bank address:Bank of America, NA
100 Federal Street
Boston, MA 02110WIRE PAYMENT ABA Routing Number: 026 009 593
ACH ABA Routing Number: 011 000 138
SWIFT Code: BOFAUS3N
DDA Account Number: #004622832542 (MIT RSO Gift Receipts)
Wire Details: Please include Name of MIT Program, or MIT account number,
or MIT invoice number to credit.
NOTE: It is important to determine which ABA Routing Number is appropriate based on the type of transfer (the routing number for ACH transactions is not the same as the routing number for wire transactions). The transfer will not be received by our bank if the incorrect routing number is used.
When transferring funds from one account to another there is a choice between ACH (automated clearing house) or wire transfer. ACH transactions use a batch process. The transactions that are received by the bank during the day are stored and processed all together overnight which makes the funds available to the recipient the following day. Wire transactions are generally received the same day they are initiated.
NOTE: The International Bank Account Number (IBAN) is the international standard for identifying international bank accounts across national borders. At present, the United States does not participate in IBAN. Therefore, Bank of America does not have an IBAN number.
It is critical when making a wire transfer that you alert MIT in advance so that the gift will be properly credited when received at MIT’s bank. To advise of an anticipated wire transfer, please send a fax, letter, or e-mail to the Office of the Recording Secretary (see contact information below) with the following information:
- Name of donor
- Amount of wire transfer
- If gift is not in U.S. dollars, specify currency (i.e., Japanese yen, Euro dollars/Euros, Swedish krona, etc.)
- Purpose of gift/gift designation
- Name/location of sending bank
- Date of expected transfer
Please send all U.S. or foreign bank wire transfer information to:
MIT Office of the Recording Secretary
Fax: 617.258.8316
Phone: 617.253.5048
E -mail: (JavaScript must be enabled to view this email address)
If you have questions, please feel free to contact us.
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Electronic funds transfers (EFTs) and payroll deductions
Electronic funds transfers
Some donors may prefer to make their gifts by electronic funds transfer (EFT). With your authorization, MIT can electronically debit your checking account on a monthly or quarterly basis. You choose the fixed amount and the frequency of deduction, the designation of your donation, and the duration of your donation period. To sign up, please complete an Electronic Funds Transfer Authorization Form and return it to the Office of the Recording Secretary along with a voided check (not a deposit slip).
Payroll deductions
MIT employees also have the option of donating directly to the Institute through payroll deduction. To sign up, please complete the Payroll Deduction Authorization Form and return it to the Office of the Recording Secretary.
If you are not an MIT employee, you are encouraged to contact your employer or the United Way to explore ways to contribute to MIT through direct payroll deduction.
For more information about EFTs and payroll deductions, please contact us:
MIT Office of the Recording Secretary
600 Memorial Drive, W98-300
Cambridge, MA 02139
Phone: 617.253.5048
Fax: 617.258.8316
E-mail: (JavaScript must be enabled to view this email address)
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Securities and mutual funds
Giving appreciated securities or mutual funds is a fast and easy way to make a gift to MIT. Gifts of stock can be directed to any area of the Institute, and can help you —
- diversify your assets, and
- minimize capital gains taxes.
It is almost always a better strategy to give appreciated securities directly to the Institute, rather than selling them and donating the proceeds of the sale. In fact, many alumni find that the tax benefits associated with giving appreciated securities to MIT actually allow them to increase the size of their gift. If you own securities that have lost value, you can sell the stock, take the capital loss deduction, and make a gift to MIT.
A planned gift of appreciated securities, such as a charitable remainder trust, can provide you with a lifelong income stream that exceeds what you would otherwise have received in dividends.
Here are instructions for giving appreciated securities:
- If your stock certificates are held by a bank or a broker
- If you hold the stock certificates yourself
It is also possible to make a gift using shares of mutual funds. Here are instructions in PDF for transferring mutual fund gifts to MIT’s account at Fidelity Investments.
Questions about gifts of stock or mutual funds can be directed to:
MIT Office of the Recording Secretary
617.253.5048
(JavaScript must be enabled to view this email address)
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