(CNN) MIT President L. Rafael Reif has vowed to "repair a system and a culture that failed the people" of the university, after reports revealed the school's involvement with Jeffrey Epstein.

Reif said Wednesday the culture that allowed the school to make those mistakes has prevailed at MIT for far too long.

"I am humbled that it took this cascade of misjudgments for me to truly see this persistent dynamic and appreciate its full impact," he said during an MIT faculty meeting. "We need to stop looking away from bad behavior and start taking the time to see what it costs us a community. This moment of crisis much be the moment of reckoning -- and a turn towards real accountability."

Epstein was associated with at least $7 million in donations from wealthy donors to the MIT Media Lab, communications obtained by CNN show.

Epstein was integral to incoming, multimillion-dollar donations from major donors, and the lab made efforts to make sure Epstein's name was not associated with donations he made or helped solicit, internal communications and documents obtained by CNN show.

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