Msmc Residential Realty Llc
- Assets
- $105.7m
- Revenue
- $27.4m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 02/2005
- Data as of
- 12/2021
- EIN
- 20-0244426
Organization Overview
Msmc Residential Realty Llc is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (E19) the organization is classified as: Support N.E.C., under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Msmc Residential Realty Llc 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 Residential Realty Llc generated $27.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $32.3m during the year ending 12/2021. 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
SUPPORT ITS MEMBER CORPORATIONS BY ACQUIRING, OWNING, FINANCING, OPERATING AND DISPOSING OF REAL ESTATE PRIMARILY FOR USE AS STAFF HOUSING FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MSMC RESIDENTIAL REALTY LLC SUPPORTS ITS MEMBER CORPORATIONS BY ACQUIRING, OWNING, FINANCING, OPERATING AND DISPOSING OF REAL ESTATE PRIMARILY FOR THE USE OF STAFF HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald T Scanlon 1 President And Treasurer | OfficerTrustee | 0.5 | $0 |
Beth Essig 1 Assistant Secretary | Officer | 0.5 | $0 |
Michael Minikes 1 Trustee | Trustee | 1 | $0 |
Joel Picket 1 Trustee | Trustee | 1 | $0 |
Kenneth Davis MD Trustee | Trustee | 0.5 | $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 | $27,142,411 |
| Investment income | -$70,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $27,441,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $5,247,179 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,967,961 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,125,306 |
| Fees for services: Legal | $91,711 |
| Fees for services: Accounting | $124,706 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $34,698 |
| Advertising and promotion | $0 |
| Office expenses | $84,266 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,780,335 |
| Travel | $28,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,628,458 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,689,989 |
| Insurance | $214,199 |
| All other expenses | $0 |
| Total functional expenses | $32,310,000 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,198,977 |
| Savings and temporary cash investments | $15,363,443 |
| 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 | $3,545,341 |
| Net Land, buildings, and equipment | $79,444,054 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,161,124 |
| Total assets | $105,712,939 |
| Accounts payable and accrued expenses | $1,015,811 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $137,650,478 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,802,650 |
| Total liabilities | $155,468,939 |
| 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 | -$49,756,000 |
| Total liabilities and net assets/fund balances | $105,712,939 |
Grants Awarded
Over the last fiscal year, Msmc Residential Realty Llc has awarded $400,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT | $164,080 |
New York, NY PURPOSE: GENERAL SUPPORT | $125,800 |
New York, NY PURPOSE: GENERAL SUPPORT | $110,120 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clny Alliance Inc Westbury, NY | $6,584,050 | $105,064,561 |
Metropolitan Jewish Health System Inc Brooklyn, NY | $32,845,157 | $60,897,961 |
Bhs Management Services Inc Pittsfield, MA | $13,878,058 | $69,134,374 |
Integrace Inc Fort Washington, PA | $287,623,657 | $61,949,797 |
Capital Area Health Consortium Inc Farmington, CT | $8,150,693 | $60,880,369 |
Royal Charter Properties Inc New York, NY | $137,963,781 | $43,558,448 |
Msmc Residential Realty Llc New York, NY | $105,712,939 | $27,441,000 |
Network Recovery Services Inc New York, NY | $9,165,578 | $32,013,322 |
Bhcare Inc North Haven, CT | $6,550,561 | $27,847,123 |
Hunterdon Specialty Care Pc Flemington, NJ | $3,946,893 | $25,039,620 |
Riverspring Services Corp Riverdale, NY | $5,653,690 | $21,974,474 |
Jewish Healthcare Foundation Of Pittsburgh Pittsburgh, PA | $167,156,555 | $15,944,425 |