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 equity investments and loans to finance transit-oriented, mixed-income Housing that produce positive health outcomes.
Who funds Massachusetts Housing Investment Corporation (MHIC)
Grants from foundations and other nonprofits
Federal funding details
Federal agency | CFDA code | Program name | Amount |
---|
Department of the Treasury | 21.011 | CAPITAL MAGNET FUND | $1,800,000 |
Small Business Administration | 59.008 | DISASTER ASSISTANCE LOANS | $150,000 |
Department of the Treasury | 21.020 | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS PROGRAM | $123,213 |
Personnel at MHIC
Name | Title | Compensation | Date of data |
---|
Moddie Turay | President and Chief Executive Officer | | 2022-10-13 |
William Thompson | Chief Financial Officer | $324,567 | 2022-11-15 |
Deborah Favreau | Chief Development Officer | $249,588 | 2022-10-13 |
Kathy McGilvray | Director of Investment | | 2022-10-13 |
Charles Edwards | Director of Accounting and Administration | $244,295 | 2022-10-13 |
...and 12 more key personnel |
Financials for MHIC
Revenues | FYE 12/2021 | FYE 12/2020 | % Change |
---|
Total grants, contributions, etc. | $9,449,891 | $0 | 999% |
Program services | $9,318,596 | $14,003,136 | -33.5% |
Investment income and dividends | $15,219 | $45,397 | -66.5% |
Tax-exempt bond proceeds | $0 | $0 | - |
Royalty revenue | $0 | $0 | - |
Net rental income | $0 | $0 | - |
Net gain from sale of non-inventory assets | $0 | $0 | - |
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 | $18,783,706 | $14,048,533 | 33.7% |
Organizations like MHIC
Organization | Type | Location | Revenue |
---|
Network for Oregon Affordable Housing | 501(c)(3) | Portland, OR | $8,548,248 |
MoFi | 501(c)(3) | Missoula, MT | $17,427,104 |
Corporation for Supportive Housing (CSH) | 501(c)(3) | New York, NY | $44,983,722 |
Ohio Capital Corporation for Housing (OCCH) | 501(c)(3) | Columbus, OH | $41,859,308 |
Impact Development Fund | 501(c)(3) | Loveland, CO | $7,972,654 |
Capital for Change | 501(c)(3) | Wallingford, CT | $10,335,539 |
Community Investment Corporation | 501(c)(3) | Chicago, IL | $31,622,758 |
Cincinnati Development Fund (CDF) | 501(c)(3) | Cincinnati, OH | $6,552,988 |
Federation of Appalachian Housing Enterprises | 501(c)(3) | Berea, KY | $18,063,408 |
Century Housing Corporation | 501(c)(3) | Culver City, CA | $33,491,484 |
Data update history
June 29, 2023
Posted financials
Added Form 990 for fiscal year 2020
May 15, 2023
Received grants
October 21, 2022
Used new vendors
Identified 1 new vendor, including
October 13, 2022
Updated personnel
Identified 2 new personnel
July 15, 2022
Updated personnel
Identified 6 new personnel
Nonprofit Types
Grantmaking organizationsHousing and shelter organizationsCommunity Development Financial InstitutionsCharities
Issues
Human servicesCommunity improvementHousing
Characteristics
State / local levelReceives government fundingTax deductible 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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