Nonprofit · EIN 04-3094550
MASSACHUSETTS HOUSING INVESTMENT CORP
Tax-exempt · BOSTON, MA 02110
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $20,217,610 | $12,513,933 | $7,703,677 | $99,860,034 | $51,691,578 | $48,168,456 |
| December 31, 2024 | 990 | $22,569,310 | $11,762,667 | $10,806,643 | $92,801,133 | $51,887,994 | $40,913,139 |
| December 31, 2023 | 990 | $73,602,541 | $71,806,719 | $1,795,822 | $69,106,179 | $38,747,799 | $30,358,380 |
| December 31, 2022 | 990 | $16,061,783 | $13,502,667 | $2,559,116 | $65,477,306 | $36,836,388 | $28,640,918 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $7,374,499
- of which government grants
- $2,274,499
- Program service revenue
- $11,552,640
- Investment income
- $1,290,471
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $128,787
- Compensation of officers, directors and key employees
- $938,783
- Other salaries and wages
- $5,614,314
- Salaries, compensation and benefits (total)
- $7,926,054
- Professional fundraising fees
- $0
- Legal fees
- $732,433
- Accounting fees
- $146,935
- Occupancy
- $635,426
- Travel
- $126,333
- Depreciation
- $72,018
- Program services (functional)
- $11,085,043
- Management and general (functional)
- $1,428,890
Balance sheet and other
- Total assets, start of year
- $92,801,133
- Total assets, end of year
- $99,860,034
- Total liabilities, end of year
- $51,691,578
- Net assets, end of year
- $48,168,456
- Land, buildings and equipment
- $199,871
- Publicly traded securities
- $7,720,570
- Net assets without donor restrictions
- $38,068,456
- Net assets with donor restrictions
- $10,100,000
- Gross receipts
- $20,217,610
- Employees
- 46
- Volunteers
- 0
- Year formed
- 1990
- State of legal domicile
- MA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MODDIE TURAY | PRESIDENT & CEO Trustee or director, Officer | 40 | $577,686 | $66,924 |
| WILLIAM THOMPSON | CHIEF FINANCIAL OFFICER Officer | 40 | $361,098 | $47,791 |
| SEAN BEIRNE | DIRECTOR OF CAPITAL DEVELOPMENT Highest-paid employee | 40 | $284,083 | $51,125 |
| CHARLES EDWARDS | DIRECTOR OF FINANCE Highest-paid employee | 40 | $291,545 | $36,845 |
| K BETH O'DONNELL | DIRECTOR OF COMMUNITY INVESTMENT Highest-paid employee | 40 | $273,980 | $39,754 |
| LESLIE REID | CHIEF OF INVESTMENT PROGRAMS Highest-paid employee | 40 | $272,544 | $37,267 |
| TRAVIS WATSON | DIRECTOR OF COMMUNITY IMPACT Highest-paid employee | 40 | $256,296 | $44,996 |
| DANIEL CRUZ JR | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ELIZABETH GRUBER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| PATRICIA MARINILLI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEILA DILLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH FAIREY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EVELYN FRIEDMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM GLEASON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JENNIFER MADDOX | DIRECTOR Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEITH NISBET | DIRECTOR Trustee or director | 1 | $0 |
| DIANE SMITH | DIRECTOR Trustee or director | 1 | $0 |
| AMY SCHECTMAN | DIRECTOR Trustee or director | 1 | $0 |
| CAROL VENTURA | DIRECTOR Trustee or director | 1 | $0 |
| KAREN KENT | DIRECTOR Trustee or director | 1 | $0 |
| MIMI LI | DIRECTOR Trustee or director | 1 | $0 |
| YONGMEI CHEN | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 26 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MODDIE TURAY | PRESIDENT & CEO Trustee or director, Officer | 40 | $623,189 | $96,545 |
| WILLIAM THOMPSON | CHIEF FINANCIAL OFFICER Officer | 40 | $358,557 | $72,322 |
| SCOTT BACKMAN | DIRECTOR OF ASSET MANAGEMENT Key employee | 40 | $289,103 | $55,394 |
| JOHN-PAUL VACHON | DEPUTY DIRECTOR EQUITY INVESTMENTS Highest-paid employee | 40 | $271,345 | $57,719 |
| K BETH O'DONNELL | DIRECTOR OF COMMUNITY INVESTMENT Highest-paid employee | 40 | $252,812 | $74,092 |
| TRAVIS WATSON | DIRECTOR OF COMMUNITY IMPACT Highest-paid employee | 40 | $247,221 | $79,087 |
| CHARLES EDWARDS | DIRECTOR OF FINANCE Key employee | 40 | $278,440 | $46,563 |
| MASON SHEELER | SENIOR FUND MANAGER Highest-paid employee | 40 | $249,437 | $72,371 |
| SEAN BEIRNE | DIRECTOR OF CAPITAL DEVELOPMENT Highest-paid employee | 40 | $228,640 | $72,641 |
| DANIEL CRUZ JR | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ELIZABETH GRUBER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| B JOHN DILL | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PATRICIA MARINILLI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS ALPERIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY FARRELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEILA DILLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH FAIREY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER GAGLIARDI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAMELA FEINGOLD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EVELYN FRIEDMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM GLEASON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JENNIFER MADDOX | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH NISBET | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DIANE SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY SCHECTMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AL ULUATAM | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 28 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| MODDIE TURAY | PRESIDENT & CEO Trustee or director, Officer | 40 | $545,165 | $59,447 |
| WILLIAM THOMPSON | CHIEF FINANCIAL OFFICER Officer | 40 | $361,251 | $63,355 |
| SCOTT BACKMAN | DIRECTOR OF ASSET MANAGEMENT Key employee | 40 | $295,034 | $51,388 |
| DEBORAH FAVREAU | CHIEF DEVELOPMENT OFFICER Key employee | 40 | $278,328 | $62,605 |
| CHARLES EDWARDS | DIRECTOR OF ACCOUNTING Key employee | 40 | $291,286 | $38,965 |
| TRAVIS WATSON | DIRECTOR OF RACIAL EQUITY Highest-paid employee | 40 | $252,533 | $56,265 |
| MASON SHEELER | SENIOR INVESTMENT OFFICER Highest-paid employee | 40 | $254,150 | $39,132 |
| ELIZABETH RONAYNE | CHIEF DEVELOPMENT OFFICER Highest-paid employee | 40 | $229,163 | $29,938 |
| CAROLYN ANDERSON | CONSTRUCTION LIAISON OFFICER Highest-paid employee | 40 | $210,379 | $35,788 |
| JOSHUA SAMPSON | TREASURY OFFICER Highest-paid employee | 40 | $180,409 | $43,120 |
| JOSEPH L FLATLEY | FORMER PRESIDENT & CEO Former | 40 | $167,162 | $0 |
| DANIEL CRUZ | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ELIZABETH GRUBER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| B JOHN DILL | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PATRICIA MARINILLI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS ALPERIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY FARRELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEILA DILLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH FAIREY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER GAGLIARDI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAMELA FEINGOLD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EVELYN FRIEDMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM GLEASON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| LESLIE REID | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH NISBET | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DIANE SMITH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY SCHECTMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AL ULUATAM | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2022: 29 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOSEPH L FLATLEY | PRESIDENT & CEO Trustee or director, Officer | 40 | $374,246 | $49,596 |
| WILLIAM THOMPSON | CHIEF FINANCIAL OFFICER Officer | 40 | $295,590 | $51,473 |
| KATHLEEN MCGILVRAY | DIRECTOR OF INVESTMENT Key employee | 40 | $294,900 | $46,188 |
| MODDIE TURAY | PRESIDENT & CEO Officer | 40 | $276,524 | $20,024 |
| SCOTT BACKMAN | DIRECTOR OF ASSET MANAGEME Key employee | 40 | $234,385 | $35,960 |
| CHRISTINE VINCENTI | SENIOR INVESTMENT OFFICER Highest-paid employee | 40 | $234,469 | $25,391 |
| CHARLES EDWARDS | DIRECTOR OF ACCOUNTING AND Highest-paid employee | 40 | $221,773 | $37,730 |
| DEBORAH FAVREAU | CHIEF DEVELOPMENT OFFICER Highest-paid employee | 40 | $218,347 | $41,147 |
| ELIZABETH HIBBARD | DIRECTOR OF CAPITAL DEV. Key employee | 40 | $219,206 | $38,655 |
| TRAVIS WATSON | DIRECTOR OF RACIAL EQUITY AND COMMUNITY ENGAGEMENT Highest-paid employee | 40 | $203,370 | $39,301 |
| MASON SHEELER | SENIOR INVESTMENT PORTFOLI Highest-paid employee | 40 | $209,477 | $32,741 |
| GUILLIAEM AERTSEN | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ELIZABETH GRUBER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| REZA AGHAMIRZADEH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| HOWARD COHEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DANIEL CRUZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| B JOHN DILL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SHEILA DILLON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EVELYN FRIEDMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER GAGLIARDI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TOM GLEASON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANN HOUSTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PAMELA FEINGOLD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH NISBET | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRYSTAL KORNEGAY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARTIN ROGOSA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MATTHEW MURPHY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| THOMAS ALPERIN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| AMY SCHECTMAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 21 CUSTOM HOUSE STREET 8TH FLOOR, BOSTON, MA 02110-3507
- In care of
- % JOSEPH L FLATLEY
- Principal officer (990 for 2025)
- WILLIAM THOMPSON, 21 CUSTOM HOUSE STREET 8TH FLOOR, BOSTON, MA 02110
- Signed the 990
- WILLIAM THOMPSON, CHIEF FINANCIAL OFFICER
- Phone
- (617) 850-1000
- Website
- WWW.MHIC.COM
- Return prepared by
- DANIEL DENNIS & COMPANY LLP
Mission
MHIC'S MISSION IS TO BE AN INNOVATIVE PRIVATE FINANCIER OF AFFORABLE HOUSING AND COMMUNITY DEVELOPMENT THROUGHOUT NEW ENGLAND, PROVIDING FINANCING THAT WOULD NOT OTHERWISE BE AVAILABLE, AND EXTENDING THE IMPACT OF THAT FINANCING TO ENSURE THE BROADEST POSSIBLE BENEFIT.
Program accomplishments
- MANAGED A PROGRAM THAT PROVIDES FINANCING TO COMMERCIAL REAL ESTATE PROPERTIES AND BUSINESSES IN LOW-INCOME COMMUNITIES, THEREBY STIMULATING ECONOMIC DEVELOPMENT AND JOB CREATION.Expenses $1,676,608 · revenue $3,240,582
- MANAGED A PROGRAM THAT PROVIDES FINANCING FOR EQUITY INVESTMENT IN LOW-INCOME HOUSING DEVELOPMENTS THAT QUALIFY FOR TAX CREDITS.Expenses $1,676,608 · revenue $3,248,218
- 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.Expenses $6,847,794 · grants $128,787 · revenue $4,327,690
- 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.Expenses $884,033 · revenue $736,150
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 04-3094550
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1993
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L120)
- Assets (IRS master file)
- $99,860,034
- Income (IRS master file)
- $20,217,610
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $20,217,610 | $12,513,933 | $99,860,034 | XML |
| 990 | December 2024 | $22,569,310 | $11,762,667 | $92,801,133 | XML |
| 990 | December 2023 | $73,602,541 | $71,806,719 | $69,106,179 | XML |
| 990 | December 2022 | $16,061,783 | $13,502,667 | $65,477,306 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 04-3094550).
Questions about MASSACHUSETTS HOUSING INVESTMENT CORP
- What is the EIN of MASSACHUSETTS HOUSING INVESTMENT CORP?
- The employer identification number (EIN) of MASSACHUSETTS HOUSING INVESTMENT CORP is 04-3094550.
- Is MASSACHUSETTS HOUSING INVESTMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1993.
- Are donations to MASSACHUSETTS HOUSING INVESTMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MASSACHUSETTS HOUSING INVESTMENT CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MASSACHUSETTS HOUSING INVESTMENT CORP due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MASSACHUSETTS HOUSING INVESTMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of MASSACHUSETTS HOUSING INVESTMENT CORP?
- The 990 for the year ended December 31, 2025 names WILLIAM THOMPSON.
- Who are the officers and directors of MASSACHUSETTS HOUSING INVESTMENT CORP?
- The 990 for the year ended December 31, 2025 lists 22 people; 7 received compensation from the organization, the highest $577,686 (MODDIE TURAY, PRESIDENT & CEO).
- How much revenue does MASSACHUSETTS HOUSING INVESTMENT CORP have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $20,217,610, expenses of $12,513,933 and total assets of $99,860,034 at year end.
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