University name: Massachusetts Institute of Technology
The Acronym: MIT
Established: 1861
Rank by 2018: 1st
Motto: Mens et Manus
Mind and Hand
Colors: Cardinal red & steel gray

Massachusetts Institute of Technology was established in 1861, and is a non-profit high learning education organization positioned inside the city placing of the big metropolis of Cambridge of population status 50,000-249,999 inhabitants. Massachusetts. officially approved and/or made eligible by means of the commission on institutions of higher of Higher Education of the New England Association of Schools and Colleges, Massachusetts Institute of Technology (MIT) is a large coeducational better schooling institution. Massachusetts Institute of Technology (MIT) offers courses and programs leading to formally identified higher education degrees inclusive of bachelor levels, grasp levels, doctorate ranges in several areas of academics. This 156 years age higher-learning institute has a selective admission policy primarily based on front examinations and college students' historical status report and grades. The admission price variety is 0-10% making this US better academic university of most selective nature. Global applicants are eligible to apply for studies.

ORGANIZATION

MIT is chartered as a non-profit organization and is owned and governed by a privately appointed board of trustees known as the MIT Corporation. The current board consists of 43 members elected to five-year terms, 25 life members who vote until their 75th birthday, 3 elected officers (President, Treasurer, and Secretary), and 4 ex officio members (the president of the alumni association, the Governor of Massachusetts, the Massachusetts Secretary of Education, and the Chief Justice of the Massachusetts Supreme Judicial Court). The board is chaired by Robert Millard, a co-founder of L-3 Communications Holdings. The Corporation approves the budget, new programs, degrees and faculty appointments, and elects the President to serve as the chief executive officer of the university and preside over the Institute's faculty. MIT's endowment and other financial assets are managed through a subsidiary called MIT Investment Management Company (MITIMCo).Valued at $13.182 billion in 2016, MIT's endowment is the sixth-largest among American colleges and universities.

MIT has five schools (Science, Engineering, Architecture and Planning, Management, and Humanities, Arts, and Social Sciences) and one college (Whitaker College of Health Sciences and Technology), but no schools of law or medicine. While faculty committees assert substantial control over many areas of MIT's curriculum, research, student life, and administrative affairs, the chair of each of MIT's 32 academic departments reports to the dean of that department's school, who in turn reports to the Provost under the President. The current president is L. Rafael Reif, who formerly served as provost under President Susan Hockfield, the first woman to hold the post.