Msmc Realty Corporation
- Assets
- $97.7m
- Revenue
- $4.8m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/1996
- Data as of
- 12/2021
- EIN
- 13-3852596
Organization Overview
Msmc Realty Corporation is located in New York, NY. The organization was established in 1996. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Msmc Realty Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Msmc Realty Corporation generated $4.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (22.3%) each year. All expenses for the organization totaled $4.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (22.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MSMC REALTY CORPORATION'S MISSION IS TO SUPPORT ITS TAX EXEMPT MEMBERS BY MANAGING, MAINTAINING, HOLDING, DEVELOPING, ACQUIRING OR DISPOSING REAL PROPERTY FOR THEIR BENEFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HOLD AND LEASE PROPERTY TO MOUNT SINAI HOSPITAL FOR ITS TAX EXEMPT PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Essig 2 Assistant Secretary | Officer | 0.5 | $0 |
Kenneth Davis MD 2 Trustee | Trustee | 0.5 | $0 |
Michael Minikes 1 Trustee | Trustee | 1 | $0 |
Joel Picket 1 Trustee | Trustee | 1 | $0 |
Jeff T Blau 1 Trustee | Trustee | 1 | $0 |
Richard Ravitch 1 Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,223,063 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,571,734 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,794,797 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,508,441 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,906,863 |
| Insurance | $0 |
| All other expenses | $379,493 |
| Total functional expenses | $4,794,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,194 |
| Net Land, buildings, and equipment | $97,480,652 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184,529 |
| Total assets | $97,693,375 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $20,799,807 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $190,000 |
| Other liabilities | $71,705,642 |
| Total liabilities | $92,695,449 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $4,997,926 |
| Total liabilities and net assets/fund balances | $97,693,375 |
Grants Awarded
Over the last fiscal year, Msmc Realty Corporation has awarded $27,302,605 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: general support | $27,101,549 |
New York, NY PURPOSE: DISTRIBUTION | $201,056 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Msmc Realty Corporation has recieved totaling $63,829.
| Awarding Organization | Amount |
|---|---|
Mount Sinai Hospital New York, NY PURPOSE: FUND OPERATING LOSS | $63,829 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Project Social Care Head Start Brooklyn, NY | $6,318,610 | $20,235,501 |
Race Forward New York, NY | $41,775,681 | $35,206,795 |
Doris Duke Management Foundation New York, NY | $16,535,132 | $14,155,611 |
Friends Retirement Concepts Inc East Brunswick, NJ | $1,909,950 | $77,429,648 |
Loomis Senior Living Inc Springfield, MA | $28,913,416 | $11,456,759 |
St Barnabas Health System Inc Gibsonia, PA | $11,393,428 | $11,432,241 |
Jasa Corporation New York, NY | $81,684,696 | $37,717,694 |
Managed Health Resources Inc Somerville, MA | $3,938,917 | $10,079,712 |
Corporation For Public Management Springfield, MA | $4,685,257 | $9,157,820 |
Repair The World Inc New York, NY | $12,187,078 | $15,959,640 |
Greenlight Fund Inc Boston, MA | $42,352,502 | $25,826,646 |
Arts Business Collaborative Inc Long Island City, NY | $8,659,572 | $7,475,051 |