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Nonprofiteer
← MMC REALTY CORP

Form 990 for tax year 2023

Filed by MMC REALTY CORP.

Totals

Total revenue
$6,210,813
Total expenses
$5,144,303
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,710,855
Investment income
$1,499,958
Other revenue
$0
Total assets, end of year
$52,931,178
Total liabilities, end of year
$9,643,051
Net assets or fund balances, end of year
$43,288,127
Program services expenses (Part IX)
$5,144,303
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$5,144,303

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 $2,630,968 · related or exempt $2,630,968

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

    total $2,079,887 · unrelated business $2,079,887

  • 7a · Gross sales of assets other than inventory

    other assets $1,633,949

  • 7b · Less cost or other basis and sales expenses

    other assets $133,991

  • 7c · Gain or loss

    other assets $1,499,958

  • 7d · Net gain or loss

    total $1,499,958 · related or exempt $1,499,958

Functional expenses

Part IX, the statement of functional expenses.

  • 16 · Occupancy

    total $3,503,563 · program services $3,503,563

  • 20 · Interest

    total $765,846 · program services $765,846

  • 22 · Depreciation, depletion and amortization

    total $622,894 · program services $622,894

  • 23 · Insurance

    total $96,338 · program services $96,338

  • 24a · Other expenses: Administrative Costs

    total $155,662 · program services $155,662

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $366,489 · end of year $0

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

    $34,392,662

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

    $9,956,706

  • 10c · Land, buildings and equipment, net

    beginning of year $22,581,512 · end of year $24,435,956

  • 15 · Other assets

    beginning of year $26,453,679 · end of year $28,495,222

  • 17 · Accounts payable and accrued expenses

    beginning of year $108,718 · end of year $102,291

  • 19 · Deferred revenue

    beginning of year $39,760 · end of year $47,460

  • 24 · Unsecured notes and loans payable

    beginning of year $972,890 · end of year $768,570

  • 25 · Other liabilities

    beginning of year $6,058,695 · end of year $8,724,730

  • 27 · Net assets without donor restrictions

    beginning of year $42,221,617 · end of year $43,288,127

Mission and programs · 2023

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 $5,144,303 · Revenue $4,130,926

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Lugene Inzana

    CFO MMC / Board Treasurer

    Total calculated
    $948,999
    From this org
    $0
    From related orgs
    $887,523
    Other
    $61,476
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $498,280 related
    Bonus
    $0 + $113,815 related
    Other
    $0 + $275,428 related
    Deferred
    $0 + $20,234 related
    Nontaxable benefits
    $0 + $41,242 related
    Filer's total
    $0 + $948,999 related

  • Jennifer McCarthy

    COO, MMC/ Trustee

    Total calculated
    $954,823
    From this org
    $0
    From related orgs
    $921,677
    Other
    $33,146
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $559,888 related
    Bonus
    $0 + $147,871 related
    Other
    $0 + $213,918 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $19,946 related
    Filer's total
    $0 + $954,823 related

  • Joel Botler MD

    Reg CMO So. Region/ Trustee

    Total calculated
    $948,320
    From this org
    $0
    From related orgs
    $855,473
    Other
    $92,847
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $568,101 related
    Bonus
    $0 + $159,150 related
    Other
    $0 + $128,222 related
    Deferred
    $0 + $60,273 related
    Nontaxable benefits
    $0 + $32,574 related
    Filer's total
    $0 + $948,320 related

  • Jon Kevin Griffin

    Chief Strat Officer, MH/Trustee

    Total calculated
    $1,113,620
    From this org
    $0
    From related orgs
    $1,058,902
    Other
    $54,718
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $735,505 related
    Bonus
    $0 + $234,886 related
    Other
    $0 + $88,511 related
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $41,518 related
    Filer's total
    $0 + $1,113,620 related

  • Mark Harris

    Chief Plan Officer, MH/Trustee

    Total calculated
    $646,482
    From this org
    $0
    From related orgs
    $532,131
    Other
    $114,351
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $286,988 related
    Bonus
    $0 + $103,175 related
    Other
    $0 + $141,968 related
    Deferred
    $0 + $77,443 related
    Nontaxable benefits
    $0 + $36,908 related
    Filer's total
    $0 + $646,482 related

  • Britt Crewse

    Reg Pres MH So.Reg/Bd Pres

    Total calculated
    $0
    Hours/week
    1 + 50 related

  • Beth A Kelsch

    Gen. Counsel, MH/ Bd Secretary

    Total calculated
    $848,591
    From this org
    $0
    From related orgs
    $752,576
    Other
    $96,015
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $520,986 related
    Bonus
    $0 + $141,750 related
    Other
    $0 + $89,840 related
    Deferred
    $0 + $55,677 related
    Nontaxable benefits
    $0 + $40,338 related
    Filer's total
    $0 + $848,591 related

  • Jeffrey Sanders

    Reg Pres.So.Region/ Fmr Bd Pres

    Total calculated
    $1,398,592
    From this org
    $0
    From related orgs
    $1,364,442
    Other
    $34,150
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $440,098 related
    Bonus
    $0 + $116,351 related
    Other
    $0 + $807,993 related
    Deferred
    $0 + $6,600 related
    Nontaxable benefits
    $0 + $27,550 related
    Filer's total
    $0 + $1,398,592 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, Regional President - Southern Region, received severance payments totaling $322,204 during calendar year 2023 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

  • Mid Coast Medical Group

    C · Healthcare · ME

  • Thorton Oaks Development Corp

    C · Management services · ME

Provenance

Return type
form_990
Tax year
2023
Filed
13 June 2025
IRS schema version
2023v6.0
Source object
202512189349302006

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