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Nonprofiteer
← MSC REALTY INC

Form 990 for tax year 2023

Filed by MSC REALTY INC.

Totals

Total revenue
$0
Total expenses
$356,467
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$5,722,450
Total liabilities, end of year
$10,588,727
Net assets or fund balances, end of year
-$4,866,277
Program services expenses (Part IX)
$0
Management and general expenses
$356,467
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $356,156 · management and general $356,156

  • 23 · Insurance

    total $311 · management and general $311

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $39,700

  • 4 · Accounts receivable

    beginning of year $39,700 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $306 · end of year $306

  • 10a · Land, buildings and equipment: cost or other basis

    $7,513,404

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,830,960

  • 10c · Land, buildings and equipment, net

    beginning of year $6,282,350 · end of year $5,682,444

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $243,750 · end of year $0

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $10,588,416 · end of year $10,588,727

  • 27 · Net assets without donor restrictions

    beginning of year -$4,509,810 · end of year -$4,866,277

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

TO HOLD TITLE TO CERTAIN PROPERTY, COLLECT INCOME THEREFROM, AND REMIT ANY NET FUNDS TO MEETING STREET, A RELATED NONPROFIT ORGANIZATION.

Activities or mission (Part I)

TO HOLD TITLE TO CERTAIN PROPERTY, COLLECT INCOME THEREFROM, AND REMIT ANY NET FUNDS TO TO MEETING STREET A RELATED NONPROFIT ORGANIZATION.

  • TO HOLD TITLE TO CERTAIN PROPERTY, COLLECT INCOME THEREFROM, AND REMIT ANY NET FUNDS TO MEETING STREET, A RELATED NONPROFIT ORGANIZATION.

As filed on the 2023 return.

Listed in Part VII

  • John M Kelly

    President

    Total calculated
    $966,760
    From this org
    $0
    From related orgs
    $848,847
    Other
    $117,913
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $746,847 related
    Bonus
    $0 + $102,000 related
    Other
    $0
    Deferred
    $0 + $110,929 related
    Nontaxable benefits
    $0 + $6,984 related
    Filer's total
    $0 + $966,760 related

  • Denise Parent

    Chief Business Officer

    Total calculated
    $359,094
    From this org
    $0
    From related orgs
    $331,400
    Other
    $27,694
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $256,400 related
    Bonus
    $0 + $75,000 related
    Other
    $0
    Deferred
    $0 + $11,778 related
    Nontaxable benefits
    $0 + $15,916 related
    Filer's total
    $0 + $359,094 related

  • Nazik Fernandes

    CHIEF FINANCIAL OFFICER

    Total calculated
    $166,581
    From this org
    $0
    From related orgs
    $143,520
    Other
    $23,061
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $0 + $143,520 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,145 related
    Nontaxable benefits
    $0 + $15,916 related
    Filer's total
    $0 + $166,581 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART II
THE PRESIDENT OF MSC REALTY, INC. IS EMPLOYED BY MEETING STREET, A RI NON-PROFIT ORGANIZATION AND AN ENTITY RELATED TO MSC REALTY, INC. THE BOARD OF TRUSTEES OF MEETING STREET, A RI NON-PROFIT ORGANIZATION, HAS A COMPENSATION COMMITTEE WHICH PERFORMS THE ANNUAL EVALUATION AND SETS THE COMPENSATION FOR THE PRESIDENT. THE PRESIDENT IS RESPONSIBLE FOR DETERMINING COMPENSATION FOR TOP MANAGEMENT POSITIONS AND WILL CONSULT WITH THE COMPENSATION COMMITTEE REGARDING ADDITIONAL MATERIAL COMPENSATION ARRANGEMENTS

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
18 December 2024
IRS schema version
2023v5.1
Source object
202443549349300549

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