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Nonprofiteer
← MMC REALTY CORP

Form 990 for tax year 2024

Filed by MMC REALTY CORP.

Totals

Total revenue
$4,349,466
Total expenses
$5,117,212
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,349,466
Investment income
$0
Other revenue
$0
Total assets, end of year
$54,827,928
Total liabilities, end of year
$12,307,547
Net assets or fund balances, end of year
$42,520,381
Program services expenses (Part IX)
$5,117,212
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$5,117,212

Program services were 100.0% 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.

  • 2a · Program service revenue: Rental Income

    total $2,248,564 · related or exempt $2,248,564

  • 2b · Program service revenue: Rental Income - Nonresident

    total $2,100,902 · unrelated business $2,100,902

Functional expenses

Part IX, the statement of functional expenses.

  • 16 · Occupancy

    total $3,564,678 · program services $3,564,678

  • 20 · Interest

    total $738,040 · program services $738,040

  • 22 · Depreciation, depletion and amortization

    total $627,967 · program services $627,967

  • 23 · Insurance

    total $34,307 · program services $34,307

  • 24a · Other expenses: Administrative Costs

    total $152,220 · program services $152,220

Balance sheet

Part X, book values.

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $43,237

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

    $35,082,038

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

    $10,584,672

  • 10c · Land, buildings and equipment, net

    beginning of year $24,435,956 · end of year $24,497,366

  • 15 · Other assets

    beginning of year $28,495,222 · end of year $30,287,325

  • 17 · Accounts payable and accrued expenses

    beginning of year $102,291 · end of year $0

  • 19 · Deferred revenue

    beginning of year $47,460 · end of year $30,479

  • 24 · Unsecured notes and loans payable

    beginning of year $768,570 · end of year $551,495

  • 25 · Other liabilities

    beginning of year $8,724,730 · end of year $11,725,573

  • 27 · Net assets without donor restrictions

    beginning of year $43,288,127 · end of year $42,520,381

Mission and programs · 2024

Mission

See Schedule O

Activities or mission (Part I)

Acquiring, holding, managing, maintaining, developing or disposing of real property for the benefit of and in connection with MaineHealth.

  • MMC Realty was formed solely for the purpose of promoting the lawful interest of MaineHealth, a non-profit, 501(c)(3) organization (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 with MaineHealth.

    Expenses $5,117,212 · Revenue $2,248,564

As filed on the 2024 return.

Listed in Part VII

  • Lugene Inzana

    CFO MMC/Bd. Treasurer

    Total calculated
    $974,556
    From this org
    $0
    From related orgs
    $913,819
    Other
    $60,737
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $528,487 related
    Bonus
    $0 + $120,540 related
    Other
    $0 + $264,792 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $43,487 related
    Filer's total
    $0 + $974,556 related

  • Joel Botler MD

    Fmr Reg CMO So. Region/Fmr Trustee

    Total calculated
    $974,239
    From this org
    $0
    From related orgs
    $874,237
    Other
    $100,002
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $584,396 related
    Bonus
    $0 + $152,771 related
    Other
    $0 + $137,070 related
    Deferred
    $0 + $65,855 related
    Nontaxable benefits
    $0 + $34,147 related
    Filer's total
    $0 + $974,239 related

  • Mark Harris

    Chief Plan Officer, MH/Trustee

    Total calculated
    $666,961
    From this org
    $0
    From related orgs
    $535,770
    Other
    $131,191
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $293,897 related
    Bonus
    $0 + $104,867 related
    Other
    $0 + $137,006 related
    Deferred
    $0 + $90,822 related
    Nontaxable benefits
    $0 + $40,369 related
    Filer's total
    $0 + $666,961 related

  • Britt Crewse

    Reg Pres MH So.Reg/Bd Pres

    Total calculated
    $994,584
    From this org
    $0
    From related orgs
    $945,128
    Other
    $49,456
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $719,447 related
    Bonus
    $0 + $187,035 related
    Other
    $0 + $38,646 related
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $35,656 related
    Filer's total
    $0 + $994,584 related

  • Kathryn Cope

    COO, MMC Bid San/Trustee

    Total calculated
    $498,287
    From this org
    $0
    From related orgs
    $395,787
    Other
    $102,500
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $307,889 related
    Bonus
    $0 + $85,576 related
    Other
    $0 + $2,322 related
    Deferred
    $0 + $60,494 related
    Nontaxable benefits
    $0 + $42,006 related
    Filer's total
    $0 + $498,287 related

  • Beth A Kelsch

    Chief Legal Officer, MH/Board Sec.

    Total calculated
    $966,554
    From this org
    $0
    From related orgs
    $863,649
    Other
    $102,905
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $543,461 related
    Bonus
    $0 + $194,103 related
    Other
    $0 + $126,085 related
    Deferred
    $0 + $60,283 related
    Nontaxable benefits
    $0 + $42,622 related
    Filer's total
    $0 + $966,554 related

  • Richard Bayman

    CFO-MaineHealth

    Total calculated
    $0
    Hours/week
    1 + 50 related

  • Jeffrey Sanders

    Fmr Reg Pres.So.Region/Fmr Bd Pres

    Total calculated
    $916,516
    From this org
    $0
    From related orgs
    $914,189
    Other
    $2,327
    Hours/week
    0 + 50 related

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0 + $116,351 related
    Other
    $0 + $797,838 related
    Deferred
    $0 + $2,327 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $916,516 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

  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4a
Jeffrey Sanders, Former Regional President - Southern Region, received severance payments totaling $794,769 during calendar year 2024 from MaineHealth.

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Maine Medical Partners

    C · Healthcare · ME

  • PBH Management Company

    C · Management services · ME

  • Waldo County Healthcare Mgmt Co

    C · Management services · ME

  • Mid Coast Health Management Corp

    C · Management services · ME

  • Thornton Oaks Development Corp

    C · Management services · ME

  • Mid Coast Medical Group

    C · Healthcare · ME

Provenance

Return type
form_990
Tax year
2024
Filed
23 July 2026
IRS schema version
2024v5.5
Source object
202602129349301205

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