The Massachusetts Institute of technology also known as MIT is located in Cambridge, Massachusetts, United States and it is a private Research University. MIT was founded in 1861 and a member of the Association of American Universities (AAU). The current President of the University is L. Rafael Reif ; the 17th President of the Massachusetts Institute of Technology since July 2012. The MIT has won many Institution as Awards and honors such as being ranked No. 1 among world’s universities, No 1 in architecture globally, No.1 University worldwide for social sciences and ranked among the best three universities in the world for Arts and Humanities fields. The Massachusetts Institute of Technology has 5 Schools; The school of architecture and Planning, The school of engineering, The school of Humanities Arts and Social Sciences, The Sloan school of Management, The school of Science. The university takes up 168 acres (5.68km2) in Cambridge, Massachusetts and has 18 Student residences MIT is honored with 89 Nobel Laureates, 58 national Medal of science winners, 29 National Medal of Technology and Innovation winners, 48 Macarthur Fellows and 15 A.M. Tarring Award winners. The MIT graduates expose new ideas to the world by joining the Alumni Nation of the university which has developed more than 30000 active companies. These companies generate around $1.9 trillion in annual revenue and the aggregated revenue is considered to be the 10th largest economy in the world. The MIT’s endowment is approximately $14.8billion. The university has contributed so much to the world in innovation and discoveries such as discovering genetic basis of human cancer, the innovation of inertial guidance Systems and development of radar, Invention of the electric spreadsheet, and encryption systems etc.