Overview
What is Massachusetts Housing Investment Corporation?
Massachusetts Housing Investment Corporation (MHIC) is a Boston-based nonprofit organization dedicated to financing commercial real estate properties and businesses in low-income communities throughout New England. With a mission to be an innovative private financier of affordable housing and community development, MHIC extends financing that would not otherwise be available, thereby stimulating economic development and job creation. The corporation's impact is broadened to ensure the greatest possible benefit for the community. With a team of 33 employees, MHIC is making a difference by providing much-needed financing in New England.
Official website here: www.mhic.com
Is Massachusetts Housing Investment Corporation legitimate?
Massachusetts Housing Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Massachusetts Housing Investment Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $1,694,851
Professional Fundraising Fees: $0
Other Salaries and Wages: $5,531,220
For more financial information, click here
Official website here: www.mhic.com
What is the mission statement of Massachusetts Housing Investment Corporation?
The Massachusetts Housing Investment Corporation functions as a creative private financier, dedicated to providing funding for affordable housing and community development throughout New England. By offering financing that would not be accessible otherwise, this organization broadens its impact to ensure maximum benefit. The corporation's activities extend beyond just financing, as it stimulates economic development and job creation through its programs. Specifically, it manages a program that facilitates financing for commercial real estate properties and businesses in low-income communities.
Official website here: www.mhic.com
Who is the CEO of Massachusetts Housing Investment Corporation?
William Thompson is the President & Ceo of Massachusetts Housing Investment Corporation. The CEO's salary of Massachusetts Housing Investment Corporation is $276,524 and their total compensation is $296,548.
Official website here: www.mhic.com
What is the revenue of Massachusetts Housing Investment Corporation?
Massachusetts Housing Investment Corporation's revenue in 2022 was $16,061,783.
Official website here: www.mhic.com
Who are the executives of Massachusetts Housing Investment Corporation and what are their salaries?
The average compensation at Massachusetts Housing Investment Corporation during 2022 was $218,972. There are 33 employees at Massachusetts Housing Investment Corporation.
Here are 29 key members and their salaries (Massachusetts Housing Investment Corporation's CEO's salary is $276,524 and their total compensation is $296,548):
- Joseph L Flatley (President & Ceo) [Trustee/Director]
- William Thompson (Chief Financial Officer)
- Kathleen Mcgilvray (Director Of Investment)
- Moddie Turay (President & Ceo)
- Scott Backman (Director Of Asset Manageme)
- Christine Vincenti (Senior Investment Officer)
- Charles Edwards (Director Of Accounting And)
- Deborah Favreau (Chief Development Officer)
- Elizabeth Hibbard (Director Of Capital Dev.)
- Travis Watson (Director Of Racial Equity And Community Engagement)
- Mason Sheeler (Senior Investment Portfoli)
- Guilliaem Aertsen (Chair) [Trustee/Director]
- Elizabeth Gruber (Vice Chair) [Trustee/Director]
- Reza Aghamirzadeh (Director)
- Howard Cohen (Director)
- Daniel Cruz (Director)
- B John Dill (Director)
- Sheila Dillon (Director)
- Evelyn Friedman (Director)
- Peter Gagliardi (Director)
- Tom Gleason (Director)
- Ann Houston (Director)
- Pamela Feingold (Director)
- Keith Nisbet (Director)
- Chrystal Kornegay (Director)
- Martin Rogosa (Director)
- Matthew Murphy (Director)
- Thomas Alperin (Director)
- Amy Schectman (Director)
Official website here: www.mhic.com
Where can I find the form 990 for Massachusetts Housing Investment Corporation?
The Massachusetts Housing Investment Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.mhic.com
Learn more at the official website: www.mhic.com
Mission Statement of Massachusetts Housing Investment Corporation
Massachusetts Housing Investment Corporation (MHIC) is a trailblazing private financier dedicated to the development of affordable housing and communities throughout New England. By extending financing that would not otherwise be accessible, MHIC broadens the reach of its investments to maximize their impact.
In line with its mission, MHIC manages a program that facilitates financing to commercial real estate properties and businesses in low-income areas. This financing not only stimulates economic development but also creates employment opportunities within these communities.
Impact
This information is meant to be a general summary of Massachusetts Housing Investment Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Massachusetts Housing Investment Corporation plays a vital role in providing innovative private financing for affordable housing and community development projects throughout New England. By offering financing that may not be otherwise available, MHIC extends its impact to ensure the broadest possible benefit to the community. Additionally, MHIC manages a program that provides financing to commercial real estate properties and businesses in low-income communities, thereby stimulating economic development and job creation. Through these initiatives, MHIC significantly contributes to addressing housing needs and fostering sustainable community growth in the region.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LIHTC PROGRAM FEES
Revenue
$7,290,286
LOAN AND MANAGEMENT FEE REVENUE
Revenue
$2,878,014
NMTC PROGRAM FEES
Revenue
$1,609,069
HNEF PROGRAM FEES
Revenue
$403,364
Organization Details
Founding Year
1990
Phone
(617) 850-1000
Principal Officer
William Thompson
Main Address
21 CUSTOM HOUSE STREET 8TH FLOOR, BOSTON, MA, 02110
Website
www.mhic.com
NTEE Category
Code: L120 - Housing
If you are a representative of Massachusetts Housing Investment Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.