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
Personnel at MHIC
| Name | Title | Compensation | Date of data |
|---|
| Moddie Turay | President and Chief Executive Officer | $276,524 | 2024-01-26 |
| William Thompson | Chief Financial Officer | $295,590 | 2024-01-26 |
| Deborah Vreau | Chief Development Officer | | 2024-01-26 |
| Kathleen McGilvray | Deputy Director of Investment | $294,900 | 2022-12-31 |
| K. Beth O'Donnell | Director of Community Investment | | 2024-01-26 |
| ...and 14 more key personnel |
Financials for MHIC
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $3,800,184 | $9,449,891 | -59.8% |
| Program services | $12,180,733 | $9,318,596 | 30.7% |
| Investment income and dividends | $80,866 | $15,219 | 431.3% |
| 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 | $16,061,783 | $18,783,706 | -14.5% |
Organizations like MHIC
| Organization | Type | Location | Revenue |
|---|
| Impact Development Fund | 501(c)(3) | Loveland, CO | $5,955,090 |
| Community First Fund | 501(c)(3) | Lancaster, PA | $17,453,841 |
| Corporation for Supportive Housing (CSH) | 501(c)(3) | New York, NY | $46,608,265 |
| MoFi | 501(c)(3) | Missoula, MT | $20,160,998 |
| Neighborworks Capital Corporation | 501(c)(3) | Silver Spring, MD | $8,857,507 |
| Midwest Housing Development Fund | 501(c)(3) | Omaha, NE | $5,284,967 |
| Ohio Capital Corporation for Housing (OCCH) | 501(c)(3) | Columbus, OH | $44,332,623 |
| Communityworks | 501(c)(3) | Greenville, SC | $4,103,444 |
| Renaissance Community Loan Fund | 501(c)(3) | Gulfport, MS | $6,648,710 |
| Century Housing Corporation | 501(c)(3) | Culver City, CA | $37,466,757 |
Data update history
January 27, 2024
Updated personnel
Identified 5 new personnel
January 26, 2024
Updated personnel
Identified 6 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
June 29, 2023
Posted financials
Added Form 990 for fiscal year 2020
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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