Massachusetts Housing Investment Corporation
Massachusetts Housing Investment Corporation reported $20.2 million in revenue and $12.5 million in expenses for calendar year 2025. Of every $100 it spent, $88.58 went to program services, $11.42 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 57.1% of the total. Government grants made up 11.3%. The highest compensation it reported for one person was $644,610 (PRESIDENT & CEO). 30 people received more than $100,000 in reportable compensation. Revenue rose 83% between 2019 and 2025. Source: Form 990, 2025.
Where $100 of spending went
Calendar year 2025 · Form 990, Part IX, line 25 · total expenses $13MFor context, the median across 933 covered housing & shelter charities: $89.27 programs, $10.73 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2025 · Form 990, Part VIII · total revenue $20MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.6% | 87.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.4% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.01 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 36.5% | 17.0% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 11.3% | 1.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 57.1% | 66.2% |
| Highest reported compensation Part VII-A, columns D–F | $644,610 | $300,863 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 5.15% | 1.57% |
| People paid over $100,000 Part VII, line 2 | 30 | 5 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 46.2 | 10.0 |
| Independent voting board members Part VI 1a–1b | 15 of 16 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2025 · Form 990, Part III · the three largest programs by expenseManaged 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 financing for equity investment in low-income housing developments that qualify for tax credits
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
Highest reported compensation
2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT & CEO Director/trustee, officer, 40.00 hrs/week | $577,686 | $0 | $66,924 | $644,610 |
| CHIEF FINANCIAL OFFICER Officer, 40.00 hrs/week | $361,098 | $0 | $47,791 | $408,889 |
| DIRECTOR OF CAPITAL DEVELOPMENT Highest compensated employee, 40.00 hrs/week | $284,083 | $0 | $51,125 | $335,208 |
| DIRECTOR OF FINANCE Highest compensated employee, 40.00 hrs/week | $291,545 | $0 | $36,845 | $328,390 |
| DIRECTOR OF COMMUNITY INVESTMENT Highest compensated employee, 40.00 hrs/week | $273,980 | $0 | $39,754 | $313,734 |
| CHIEF OF INVESTMENT PROGRAMS Highest compensated employee, 40.00 hrs/week | $272,544 | $0 | $37,267 | $309,811 |
| DIRECTOR OF COMMUNITY IMPACT Highest compensated employee, 40.00 hrs/week | $256,296 | $0 | $44,996 | $301,292 |
30 people received more than $100,000 in reportable compensation from Massachusetts Housing Investment Corporation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $939K (Part IX, line 5).
7 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b16 · 15 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 546
Largest outside contractors
2025 · Form 990, Part VII, Section B · businesses only| SB FRIEDMAN & COMPANY Consulting | $265,000 |
| SHALINI KONDURI It consulting | $175,750 |
| HOLLAND & KNIGHT LLP Legal | $174,130 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Private foundation grants it received
1 private foundation reported grants to Massachusetts Housing Investment Corporation totaling $100K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Massachusetts Housing Investment Corporation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Massachusetts Housing Investment Corporation, you can publish a response that is linked from this page.
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Of every $100 Massachusetts Housing Investment Corporation spent in 2025, $88.58 went to programs. The full breakdown, from its IRS Form 990:
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All housing & shelter charities · Largest charities in Massachusetts
Questions people ask
How much of Massachusetts Housing Investment Corporation's spending goes to programs?
In calendar year 2025, Massachusetts Housing Investment Corporation reported that 88.6% of its $12.5 million in expenses went to program services, 11.4% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Massachusetts Housing Investment Corporation pay its top executive?
The largest total compensation Massachusetts Housing Investment Corporation reported for one person in calendar year 2025 was $644,610, for the role of PRESIDENT & CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Massachusetts Housing Investment Corporation get its money?
Of $20.2 million in revenue in calendar year 2025, 36.5% came from contributions and grants (including 11.3% from government grants) and 57.1% from program service revenue (Form 990, Part VIII).
Is Massachusetts Housing Investment Corporation a registered charity?
The IRS lists EIN 04-3094550 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024, 2025. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2025: Form 990 for calendar year 2025, object 202612609349301421 · read the filing
- 2024: Form 990 for calendar year 2024, object 202523189349306892 · read the filing
- 2023: Form 990 for calendar year 2023, object 202403199349312385 · read the filing
- 2022: Form 990 for calendar year 2022, object 202400259349300305 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203199349305270 · read the filing
- 2020: Form 990 for calendar year 2020, object 202123199349301737 · read the filing
- 2019: Form 990 for calendar year 2019, object 202013039349301016 · read the filing
All filings for EIN 04-3094550: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.