Massachusetts Housing Investment Corporation
Mhic's mission is to be an innovative private financier of afforable housing and community development throughout new england, providing financing that would not otherwise be available, and extending the impact of that financing to ensure the broadest possible benefit.
Massachusetts Housing Investment Corporation at a glance
In short: Massachusetts Housing Investment Corporation gave $145K across 5 grants in 2024 (avg $29K), top state California. Source: 2024 IRS Form 990.
- Annual giving (2024)
- $145,000
- +38.1% vs 2023
- Grants made (2024)
- 5
- +66.7% vs 2023
- Average grant
- $29,000
- -17.1% vs 2023
- Median grant
- $25,000
- Total assets
- $92,801,133
- +34.3% vs 2023
- Primary geography
- California (45% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990, 2024 View filing
Data from IRS Form 990, 2024; updated September 2026.
Who Massachusetts Housing Investment Corporation funds
How this funder distributes its grants
Top Recipients
Top 5 recipients in 2024
The largest 2024 recipient was National Association of State and Local Equity Funds ($65K). Together the top 5 received $145K.
Grant Size Distribution
21 grants across all recorded years
The most common grant size was under $50K: 19 grants of 21 (90%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 5 itemized grants.
Cities
How Massachusetts Housing Investment Corporation gives
- Giving grew 60% from 2021 to 2024. Method
From the foundation's IRS Form 990 filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $91K (2021) to $145K (2024). In 2024 it made 5 grants totaling $145K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| National Association of State and Local Equity Funds Oakland, CA | Charitable Contribution for General Funding | $65,000 |
| Massachusetts Association of Community Development Corp Boston, MA | Charitable Contribution for General Funding | $30,000 |
| Citizens Housing and Planning Association Boston, MA | Charitable Contribution for General Funding | $25,000 |
| National Association of Affordable Housing Lenders Washington, DC | Charitable Contribution for General Funding | $15,000 |
| Urban Edge Roxbury, MA | Charitable Contribution for General Funding | $10,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Net Investment Income |
|---|---|---|---|---|---|---|
| 2024 | $92,801,133 | $22,569,310 | $11,762,667 | $145,000 | 5 | $643,307 |
| 2023 | $69,106,179 | $73,602,541 | $71,806,719 | $105,000 | 3 | $60,543,950 |
| 2022 | $65,477,306 | $16,061,783 | $13,502,667 | $102,167 | 4 | $80,866 |
| 2021 | $51,753,115 | $18,783,706 | $16,764,177 | $90,500 | 4 | $15,219 |
| 2020 | $47,540,355 | $14,048,533 | $13,753,699 | $105,500 | 5 | $45,397 |
About Massachusetts Housing Investment Corporation
Based on IRS filings
Massachusetts Housing Investment Corporation is a public charity focused on Housing & Shelter, based in Boston, MA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $92.8M in total assets. In 2024, it awarded 5 grants totaling $145K. Net investment income was $643K.
Focus Areas
Leadership & Key People
Officers and directors from IRS filings
Massachusetts Housing Investment Corporation is led by Moddie Turay, President & CEO on every filing since 2022; 9 of 26 officers listed in 2024 are compensated.
Officers on the 2024 filing
Moddie Turay
President & CEO
On filings since 2022
40 hrs/week
$277K (2022) → $623K (2024)
Elizabeth Gruber
Chair
Vice Chair → Chair, 2023
On filings since 2020
1 hr/week
No compensation reported
Charles Edwards
Director of Finance
Director of Accounting & Administration → Director of Accounting, 2022
Director of Accounting → Director of Finance, 2024
On filings since 2020
40 hrs/week
$213K (2020) → $278K (2024)
Scott Backman
Director of Asset Management
Director of Asset Management → Director of Asset Manageme, 2022
Director of Asset Manageme → Director of Asset Management, 2023
On filings since 2020
40 hrs/week
$253K (2020) → $289K (2024)
Travis Watson
Director of Community Impact
Director of Racial Equity & Community Engagement → Director of Racial Equity, 2023
Director of Racial Equity → Director of Community Impact, 2024
On filings since 2022
40 hrs/week
$203K (2022) → $247K (2024)
K. Beth O'Donnell
Director of Community Investment
New on the 2024 filing
40 hrs/week
$253K (2024)
Sean Beirne
Director of Capital Development
New on the 2024 filing
40 hrs/week
$229K (2024)
Amy Schectman
Director
On filings since 2020
1 hr/week
No compensation reported
Evelyn Friedman
Director
On filings since 2020
1 hr/week
No compensation reported
Keith Nisbet
Director
On filings since 2020
1 hr/week
No compensation reported
Pamela Feingold
Director
On filings since 2020
1 hr/week
No compensation reported
Peter Gagliardi
Director
On filings since 2020
1 hr/week
No compensation reported
Sheila Dillon
Director
On filings since 2020
1 hr/week
No compensation reported
Thomas Alperin
Director
On filings since 2020
1 hr/week
No compensation reported
Tom Gleason
Director
On filings since 2020
1 hr/week
No compensation reported
Al Uluatam
Director
On filings since 2023
1 hr/week
No compensation reported
Amy Farrell
Director
On filings since 2023
1 hr/week
No compensation reported
Diane Smith
Director
On filings since 2023
1 hr/week
No compensation reported
Keith Fairey
Director
On filings since 2023
1 hr/week
No compensation reported
Patricia Marinilli
Director
On filings since 2023
1 hr/week
No compensation reported
Jennifer Maddox
Director
New on the 2024 filing
1 hr/week
No compensation reported
William Thompson
Chief Financial Officer
On filings since 2020
40 hrs/week
$319K (2020) → $359K (2024)
Mason Sheeler
Senior Fund Manager
Senior Investment Portfoli → Senior Investment Officer, 2023
Senior Investment Officer → Senior Fund Manager, 2024
On filings since 2021
40 hrs/week
$224K (2021) → $249K (2024)
John-Paul Vachon
Deputy Director Equity Investments
New on the 2024 filing
40 hrs/week
$271K (2024)
B. John Dill
Treasurer
Director → Treasurer, 2023
On filings since 2020
1 hr/week
No compensation reported
Daniel Cruz Jr.
Vice Chair
Director → Vice Chair, 2023
On filings since 2020
1 hr/week
No compensation reported
Former officers (20)
- Former: Deborah Favreau (2020–2023) — Chief Development Officer
- Former: Joseph L. Flatley (2020–2023) — Former President & CEO
- Former: Carolyn Anderson (2023) — Construction Liaison Officer
- Former: Elizabeth Ronayne (2023) — Chief Development Officer
- Former: Joshua Sampson (2023) — Treasury Officer
- Former: Leslie Reid (2023) — Director
- Former: Ann Houston (2020–2022) — Director
- Former: Christine Vincenti (2020–2022) — Senior Investment Officer
- Former: Chrystal Kornegay (2020–2022) — Director
- Former: Guilliaem Aertsen (2020–2022) — Chair
- Former: Howard Cohen (2020–2022) — Director
- Former: Kathleen McGilvray (2020–2022) — Director of Investment
- Former: Martin Rogosa (2020–2022) — Director
- Former: Matthew Murphy (2020–2022) — Director
- Former: Reza Aghamirzadeh (2020–2022) — Director
- Former: Elizabeth Hibbard (2021–2022) — Director of Capital Development
- Former: Bruce Ehrlich (2020–2021) — Senior Investment Officer
- Former: Charles Grigsby (2020) — Treasurer
- Former: Melissa Sheeler (2020) — Senior Investment Portfolio Officer
- Former: Peter Sargent (2020) — Director of Capital Development
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $623K, to Moddie Turay (President & CEO). 9 officers or directors reported compensation on that filing.
Frequently asked questions about Massachusetts Housing Investment Corporation
How much does Massachusetts Housing Investment Corporation give each year?
Massachusetts Housing Investment Corporation gave $145K across 5 grants in 2024, according to its 2024 IRS Form 990. In 2023 it gave $105K across 3 grants.
What is Massachusetts Housing Investment Corporation's typical grant size?
Massachusetts Housing Investment Corporation's median grant in 2024 was $25,000, and its average grant was $29,000, across 5 grants on its 2024 IRS Form 990.
Where does Massachusetts Housing Investment Corporation give grants?
Massachusetts Housing Investment Corporation's top state is California, with 45% of the grant dollars itemized on its 2024 IRS Form 990. The next largest states were Massachusetts (45%) and District of Columbia (10%). The most frequent recipient cities were Boston, MA (2 grants).
Does Massachusetts Housing Investment Corporation give general operating support?
Yes: 100% of Massachusetts Housing Investment Corporation's 2024 grants with a stated purpose (5 of 5) were for general or operating support, per its 2024 IRS Form 990.
Who are Massachusetts Housing Investment Corporation's largest grantees?
Massachusetts Housing Investment Corporation's largest 2024 grantees include National Association of State and Local Equity Funds ($65,000), Massachusetts Association of Community Development Corp ($30,000) and Citizens Housing and Planning Association ($25,000), according to its 2024 IRS Form 990. Together they received 83% of its itemized 2024 grant dollars.
How large is Massachusetts Housing Investment Corporation?
Massachusetts Housing Investment Corporation reported $92.8M in total assets on its 2024 IRS Form 990. Its revenue that year was $22.6M.
What is Massachusetts Housing Investment Corporation?
Massachusetts Housing Investment Corporation is a public charity focused on Housing & Shelter, based in Boston, MA. It holds $92.8M in total assets as of 2024.
What is Massachusetts Housing Investment Corporation's EIN?
Massachusetts Housing Investment Corporation's EIN (Employer Identification Number) is 04-3094550. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated September 2026. Sourced from IRS Form 990 filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2020 (received by the IRS November 15, 2021)
- Updated Form 990 for fiscal year 2021 (received by the IRS November 15, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS January 25, 2024)
- Updated Form 990 for fiscal year 2023 (received by the IRS November 14, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS November 14, 2025)
- IRS filings on file for fiscal years 2020–2024
Explore Open Grants
Browse active grant opportunities in Massachusetts Housing Investment Corporation's focus areas in our free grants database
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