Mmc Realty Corp FY2023 filing

Tax-deductible

Portland, ME501(c)(3)Since 1987Health CareEIN 01-0434215Revenue $4.4M in FY2023

On file with the IRS22 Bramhall St, 04102-3134 · Portland, METax-exempt since Feb 1989Supporting organization — 509(a)(3)

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501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $1.0M a year · 23% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.2M
15% of total assets
Looks good: liabilities are 15% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.4M
+46% vs prior year
Spent
$3.9M
To programs
100%
Net assets
$42.2M
By yearFY2020–FY2025
Revenue
$4.4M
FY2023▲ +46%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.7M
FY2021$3.1M
FY2022$3.0M
FY2023$4.4M
FY2024$6.2M
FY2025$4.3M
Expenses
$3.9M
FY2023▲ +155%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.7M
FY2021$1.3M
FY2022$1.5M
FY2023$3.9M
FY2024$5.1M
FY2025$5.1M
Net assets
$42.2M
FY2023▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$38.4M
FY2021$40.1M
FY2022$41.7M
FY2023$42.2M
FY2024$43.3M
FY2025$42.5M

From the FY2023 Form 990 (year ending September 2023) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1989.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $3.9M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Regional Pres.so.region/ Board Pres.
$0Pt VII · Sec A
CFO Mmc / Board Treasurer
$0Pt VII · Sec A
COO, Mmc/ Trustee
$0Pt VII · Sec A
Regional CMO So. Region/ Trustee
$0Pt VII · Sec A
Chief Strategy Officer, Mh / Trustee
$0Pt VII · Sec A
Gen. Counsel, Mh/ Board Secretary
$0Pt VII · Sec A
See Mmc Realty Corp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Manages and develops real estate for MaineHealth's benefit.

Questions for Mmc Realty Corp

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Provided by the organization

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1 program · $3.9M · in their own filed words · FY2022
01

MMC Realty was formed solely for the purpose of promoting the lawful interest of MaineHealth, a non-profit, 501(c)(3) institution (EIN 01-0238552), duly organized and existing under the laws of the State of Maine, by acquiring, holding, managing, maintaining, developing or disposing of real property for the benefit of and in connection…

$3.9Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$4.4M
Ln 12
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$405K
Money outPt IX
$3.9M
Ln 25
Programscol B$3.9M
Owns and owesPt X
$42.2M
net assets · Ln 32
Cash and savingsLn 1–2$366K
Total assetsLn 16$49.4M
LiabilitiesLn 26$7.2M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$405K
Gains on assetsLn 7$405K
Total revenueLn 12$4.4M
Assets in detailPt X, end of year
CashLn 1$366K
Cash and savings togetherLn 1–2$366K
Land, buildings, equipmentLn 10c$22.6M
Other assetsLn 15$26.5M
Total assetsLn 16$49.4M
LiabilitiesLn 26$7.2M
Net assetsLn 32$42.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$1.7M$366K
Land, buildings, equipmentLn 10c$6.9M$22.6M
Total assetsLn 16$47.6M$49.4M
LiabilitiesLn 26$6.0M$7.2M
Net assetsLn 32$41.7M$42.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$3K$3K
OccupancyLn 16$2.7M$2.7M
InterestLn 20$494K$494K
Depreciation, depletion and amortizationLn 22$477K$477K
InsuranceLn 23$66K$66K
Other expenses (24a–d)Ln 24$131K$131K
Total functional expensesLn 25$3.9M$3.9M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.3M$5.1M−$768K$42.5M 990 PDF
FY2024 $6.2M$5.1M$1.1M$43.3M 990 PDF
FY2023 Viewing $4.4M$3.9M$562K$42.2M 990 PDF
FY2022 $3.0M$1.5M$1.5M$41.7M 990 PDF
FY2021 $3.1M$1.3M$1.7M$40.1M 990 PDF
FY2020 $5.7M$3.7M$2.1M$38.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $4,435,026 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $3,042,410$4,029,587
I-10 Investment incomePrior year $0$405,439
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,042,410$4,435,026
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,520,833$3,872,633
I-18 Total expensesPrior year $1,520,833$3,872,633
I-19 Revenue less expensesPrior year $1,521,577$562,393
Part VI · Governance 0 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $4,435,026 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,503,334 · Unrelated business $1,526,253$4,029,587
VIII-7 Net gain or loss on sales of assetsRelated to mission $405,439$405,439
VIII-12 Total revenueRelated to mission $2,908,773 · Unrelated business $1,526,253 · Excluded from tax $0$4,435,026
Part IX · Statement of functional expenses $3,872,633 across 6 lines filed
IX-13 Office expensesPrograms $2,912$2,912
IX-16 OccupancyPrograms $2,701,480$2,701,480
IX-20 InterestPrograms $494,215$494,215
IX-22 Depreciation, depletion and amortizationPrograms $477,331$477,331
IX-23 InsurancePrograms $65,735$65,735
IX-24 Other expenses (24a–d)Programs $130,960$130,960
IX-25 Total functional expensesPrograms $3,872,633 · Management $0 · Fundraising $0$3,872,633
Part X · Balance sheet $49,401,680 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,739,917$366,489
X-10c Land, buildings and equipment, netStart of year $6,873,658$22,581,512
X-15 Other assetsStart of year $39,011,026$26,453,679
X-16 Total assetsStart of year $47,624,601$49,401,680
X-17 Accounts payable and accrued expensesStart of year $184,926$108,718
X-19 Deferred revenue$39,760
X-24 Unsecured notes and loans payableStart of year $1,165,403$972,890
X-25 Other liabilitiesStart of year $4,615,048$6,058,695
X-26 Total liabilitiesStart of year $5,965,377$7,180,063
X-27 Net assets without donor restrictionsStart of year $41,659,224$42,221,617
X-32 Total net assets or fund balancesStart of year $41,659,224$42,221,617
X-33 Total liabilities and net assetsStart of year $47,624,601$49,401,680
Part XI · Reconciliation of net assets $42,221,617 net assets at year end
XI-1 Total revenue$4,435,026
XI-2 Total expenses$3,872,633
XI-3 Revenue less expenses$562,393
XI-4 Net assets at start of year$41,659,224
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$42,221,617

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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