Program areas at MHIC
Managed a program that provides financing to commercial real estate properties and businesses in low-income communities, thereby stimulating economic development and job creation.
Managed a program that provides loans to finance low-income Housing or to bridge investor capital of affiliated programs. Funding for this program includes grants or other assistance from the u.s. department of the treasury community development financial institutions fund and other state and local municipalities in addition to debt financing from the federal home loan bank of boston and other various lenders.
Managed a program that provides financing for equity Investment in low-income Housing developments that qualify for tax credits.
Managed a program that provides financing to invests in, makes loans to, and manages private equity funds that hold transit oriented and work force Housing to the benefit of residents between 60 and 130% ami.
Who funds Massachusetts Housing Investment Corporation (MHIC)
Grants from foundations and other nonprofits
Financials for MHIC
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $1,657,470 | $3,800,184 | -56.4% |
| Program services | $11,401,121 | $12,180,733 | -6.4% |
| Investment income and dividends | $944,693 | $80,866 | 1068.2% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $59,599,257 | $0 | 999% |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $73,602,541 | $16,061,783 | 358.2% |
Organizations like MHIC
| Organization | Type | Location | Revenue |
|---|
| Cincinnati Development Fund (CDF) | 501(c)(3) | Cincinnati, OH | $18,409,470 |
| Vermont Housing Finance Agency (VHFA) | 501(c)(3) | Burlington, VT | $55,948,964 |
| Century Housing Corporation | 501(c)(3) | Culver City, CA | $63,666,243 |
| City First Enterprises | 501(c)(3) | Washington, DC | $21,464,449 |
| Arundel Community Development Services | 501(c)(3) | Annapolis, MD | $39,857,975 |
| Iff | 501(c)(3) | Chicago, IL | $102,836,770 |
| Habitat for Humanity of San Antonio | 501(c)(3) | San Antonio, TX | $21,932,993 |
| Calvert Impact Capital (CIC) | 501(c)(3) | Bethesda, MD | $33,426,249 |
| South Carolina Student Loan Corporation (SCSL) | 501(c)(3) | Columbia, SC | $65,003,840 |
| Strategies To End Homelessness | 501(c)(3) | Cincinnati, OH | $33,951,197 |
Data update history
June 12, 2025
Used new vendors
Identified 1 new vendor, including
February 7, 2025
Posted financials
Added Form 990 for fiscal year 2023
January 11, 2025
Used new vendors
Identified 2 new vendors, including , and
November 20, 2024
Updated personnel
Identified 2 new personnel
November 15, 2024
Updated personnel
Identified 4 new personnel
Nonprofit Types
Grantmaking organizationsHousing and shelter organizationsCommunity Development Financial InstitutionsCharities
Issues
Human servicesCommunity improvementHousing
Characteristics
State / local levelReceives government fundingTax deductible donationsAccepts online donations
General information
- Address
- 21 Custom House St 8th Floor
- Boston, MA 02110
- Metro area
- Boston-Cambridge-Newton, MA-NH
- County
- Suffolk County, MA
- Website URL
- mhic.com/Â
- Phone
- (617) 850-1000
IRS details
- EIN
- 04-3094550
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1990
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- L12: Housing and Shelter Fund Raising and Fund Distribution
- NAICS code, primary
- 522120: Savings Institutions
- Parent/child status
- Independent
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