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Nonprofiteer
← MMC REALTY CORP

Form 990 for tax year 2022

Filed by MMC REALTY CORP.

Totals

Total revenue
$4,435,026
Total expenses
$3,872,633
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,029,587
Investment income
$405,439
Other revenue
$0
Total assets, end of year
$49,401,680
Total liabilities, end of year
$7,180,063
Net assets or fund balances, end of year
$42,221,617
Program services expenses (Part IX)
$3,872,633
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$3,872,633

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 $2,503,334 · related or exempt $2,503,334

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

    total $1,526,253 · unrelated business $1,526,253

  • 7a · Gross sales of assets other than inventory

    other assets $412,793

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

    other assets $7,354

  • 7c · Gain or loss

    other assets $405,439

  • 7d · Net gain or loss

    total $405,439 · related or exempt $405,439

Functional expenses

Part IX, the statement of functional expenses.

  • 13 · Office expenses

    total $2,912 · program services $2,912

  • 16 · Occupancy

    total $2,701,480 · program services $2,701,480

  • 20 · Interest

    total $494,215 · program services $494,215

  • 22 · Depreciation, depletion and amortization

    total $477,331 · program services $477,331

  • 23 · Insurance

    total $65,735 · program services $65,735

  • 24a · Other expenses: Administrative Costs

    total $128,905 · program services $128,905

  • 24b · Other expenses: Miscellaneous

    total $2,055 · program services $2,055

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,739,917 · end of year $366,489

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

    $31,984,233

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

    $9,402,721

  • 10c · Land, buildings and equipment, net

    beginning of year $6,873,658 · end of year $22,581,512

  • 15 · Other assets

    beginning of year $39,011,026 · end of year $26,453,679

  • 17 · Accounts payable and accrued expenses

    beginning of year $184,926 · end of year $108,718

  • 19 · Deferred revenue

    end of year $39,760

  • 24 · Unsecured notes and loans payable

    beginning of year $1,165,403 · end of year $972,890

  • 25 · Other liabilities

    beginning of year $4,615,048 · end of year $6,058,695

  • 27 · Net assets without donor restrictions

    beginning of year $41,659,224 · end of year $42,221,617

Mission and programs · 2022

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) 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 with MaineHealth.

    Expenses $3,872,633 · Revenue $2,908,773

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeffrey Sanders

    Regional Pres.So.Region/ Board Pres.

    Total calculated
    $1,357,250
    From this org
    $0
    From related orgs
    $1,256,019
    Other
    $101,231
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $734,335 related
    Bonus
    $0 + $203,333 related
    Other
    $0 + $318,351 related
    Deferred
    $0 + $58,807 related
    Nontaxable benefits
    $0 + $42,424 related
    Filer's total
    $0 + $1,357,250 related

  • Lugene Inzana

    CFO MMC / Board Treasurer

    Total calculated
    $917,167
    From this org
    $0
    From related orgs
    $862,453
    Other
    $54,714
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $506,251 related
    Bonus
    $0 + $94,526 related
    Other
    $0 + $261,676 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $39,464 related
    Filer's total
    $0 + $917,167 related

  • Jennifer McCarthy

    COO, MMC/ Trustee

    Total calculated
    $853,814
    From this org
    $0
    From related orgs
    $822,214
    Other
    $31,600
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $539,142 related
    Bonus
    $0 + $108,554 related
    Other
    $0 + $174,518 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $19,400 related
    Filer's total
    $0 + $853,814 related

  • Joel Botler MD

    Regional CMO So. Region/ Trustee

    Total calculated
    $881,857
    From this org
    $0
    From related orgs
    $766,977
    Other
    $114,880
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $557,314 related
    Bonus
    $0 + $85,250 related
    Other
    $0 + $124,413 related
    Deferred
    $0 + $83,605 related
    Nontaxable benefits
    $0 + $31,275 related
    Filer's total
    $0 + $881,857 related

  • Jon Kevin Griffin

    Chief Strategy Officer, MH / Trustee

    Total calculated
    $802,236
    From this org
    $0
    From related orgs
    $756,664
    Other
    $45,572
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $647,935 related
    Bonus
    $0 + $93,480 related
    Other
    $0 + $15,249 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $33,372 related
    Filer's total
    $0 + $802,236 related

  • Beth A Kelsch

    Gen. Counsel, MH/ Board Secretary

    Total calculated
    $733,338
    From this org
    $0
    From related orgs
    $639,734
    Other
    $93,604
    Hours/week
    1 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $463,480 related
    Bonus
    $0 + $84,750 related
    Other
    $0 + $91,504 related
    Deferred
    $0 + $55,327 related
    Nontaxable benefits
    $0 + $38,277 related
    Filer's total
    $0 + $733,338 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
  • 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

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
2022
Filed
1 August 2024
IRS schema version
2022v5.0
Source object
202412229349300416

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