DISEASE CHARACTERISTICS:

• Patients must have histologic documentation of well-differentiated or moderately differentiated neuroendocrine tumor from either a primary or metastatic site

  • If different histologic classification schemes are used, equivalent histologic classifications (for example "grade 1", "low-grade", or "intermediate-grade") are allowed
  • Patients with poorly differentiated neuroendocrine carcinoma or small cell carcinoma are excluded
  • Documentation from a metastatic disease site is sufficient if there is clinical evidence of a pancreatic primary site
• Locally unresectable or metastatic disease

• Patients must have either histologic documentation of a pancreatic primary site, or clinical evidence of a pancreatic neuroendocrine primary tumor as determined by the treating physician

  • Patients with neuroendocrine tumors (e.g., gastrinoma, VIPoma) in whom a pancreatic or peripancreatic primary site is strongly suspected are also eligible

• Patients must have evidence of disease (measurable or non-measurable) with evidence of progression within the past 12 months

  • Measurable disease is defined as lesions that can be accurately measured in at least one dimension (longest diameter to be recorded) as ≥ 2 cm with conventional techniques or as ≥ 1 cm with spiral CT scan

  • Non-measurable disease is defined as all other lesions, including small lesions (longest diameter < 20 mm with conventional techniques or < 10 mm with spiral CT scan) and truly nonmeasurable lesions

    • Lesions that are considered non-measurable include the following:

      • Bone lesions
      • Leptomeningeal disease
      • Ascites
      • Pleural/pericardial effusion
      • Inflammatory breast disease
      • Lymphangitis cutis/pulmonis
      • Abdominal masses that are not confirmed and followed by imaging techniques
      • Cystic lesions

• Treatment with somatostatin analogs is a requirement of the study

  • Patients receiving octreotide at the time of study entry may continue at the same dose level for the duration of the study
  • Patients not receiving octreotide will initiate treatment according to study guidelines
  • Prior progression on somatostatin analogs or a negative octreotide scan does not exclude patient participation in this study
• No clinical evidence of brain metastases or carcinomatous meningitis

PATIENT CHARACTERISTICS:

• ECOG performance status 0-1
• Granulocytes ≥ 1,500/μL
• Platelets ≥ 100,000/μL
• Creatinine ≤ 1.5 x upper limit of normal (ULN)
• Bilirubin ≤ 1.5 x ULN
• ALT and AST ≤ 2.5 x ULN (≤ 5 x ULN if liver metastases present)
• Urine protein ≤ 1+ OR urine creatinine ratio < 1 by urinalysis (if UPC ratio is > 1 on urinalysis, then 24-hour urine collection for protein must be obtained and level must be < 1,000 mg for patient enrollment
• Not pregnant or nursing
• Negative pregnancy test
• Fertile patients must use effective contraception during study treatment
• No concurrent condition resulting in immune compromise, including chronic treatment with corticosteroids or other immunosuppressive agents

• No active or severe liver disease (e.g., acute or chronic hepatitis, cirrhosis)

  • No positive anti-hepatitis B virus (HBV)

    • HBV-seropositive patients (HB surface antigen [sAg] positive) are eligible if they are closely monitored for evidence of active HBV infection by HBV DNA testing and agree to receive suppressive therapy with lamivudine or other HBV-suppressive therapy until at least 4 weeks after the last dose of everolimus
  • Patients who are hepatitis C virus (HCV) antibody positive are eligible provided that HCV load (hepatitis C RNA) is undetectable
• No history of GI perforation within 12 months prior to registration
• No history of clinically significant bleeding episodes
• Patients with a history of hypertension must be adequately controlled (baseline BP < 150/90 mm Hg) on antihypertensives
• No current congestive heart failure (New York Heart Association Class II, III, or IV)
• No symptomatic arterial peripheral vascular disease
• No history of aortic aneurysm, aortic dissection, angina, myocardial infarction, stroke, or other arterial thrombotic events within 6 months of registration
• No uncontrolled diabetes mellitus
• Patients with a history of severely impaired lung function as defined as spirometry and DLCO that is 50% of the normal predicted value and/or O_2 saturation that is 88% or less at rest on room air are excluded
• Patients with fasting serum cholesterol ≥ 300 mg/dL OR ≥ 7.75 mmol/L AND fasting triglycerides ≥ 2.5 X ULN should initiate lipid-lowering medications with the goal of achieving levels below these thresholds
• No history of intolerance or allergies to octreotide

PRIOR CONCURRENT THERAPY:

• See Disease Characteristics
• No prior treatment with bevacizumab, everolimus, or other mTOR inhibitors

• Other prior treatments, including but not limited to prior cytotoxic chemotherapy, alpha interferon, tyrosine kinase inhibitors, external beam radiation therapy, and radiopeptide therapy are allowed

  • There is no limit on the number of prior treatment regimens
  • Any prior treatment (with the exception of octreotide) must be completed at least 4 weeks prior to initiation of treatment

• Prior treatment with embolization or ablative therapies is allowed if measurable disease remains outside of the treated area

  • There is no limit on the prior number of procedures

• Patients should have completed any major surgery ≥ 4 weeks from start of treatment

  • Patients must have completed any minor surgery ≥ 2 weeks prior to start of treatment
  • Patients must have fully recovered from the procedure
  • Insertion of a vascular access device is not considered major or minor surgery
• Patients should not receive immunization with attenuated live vaccines within one week prior to registration or during protocol therapy
• Patients on therapeutic anticoagulation are eligible for the study provided that they are on a stable dose of anticoagulants
• No concurrent palliative radiotherapy