Massachusetts Housing Investment Corp

Analysis

Massachusetts Housing Investment Corp is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 1993, 33 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Massachusetts Housing Investment Corp reported income of $73.6m and spending of $71.8m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $11.0m to $73.6m (+567%), an average of +61% a year. The sharpest change came in the year to December 2023, when income rose by 358%. Over the whole period it spent 94% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Massachusetts Housing Investment Corp sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MA. Charities of a similar size with the same main cause include Wisconsin Housing Preservation Corp ($73.4m), NHP Foundation ($74.5m) and Momentum Housing ($72.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.3% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $1.9m (2.7% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $69.1m against liabilities of $38.7m, net assets of $30.4m. It reported 35 employees.