Mi Management Inc
- Assets
- $7.4m
- Revenue
- $3.1m
- Investments
- $5.8m
- Employees
- 0
- Location
- Lawrence, MA
- Founding
- 03/1946
- Data as of
- 12/2022
- EIN
- 04-2857794
Organization Overview
Mi Management Inc is located in Lawrence, MA. The organization was established in 1946. 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 a subordinate organization within an affiliated group for tax-exemption purposes. MI Management Inc 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 12/2022, MI Management Inc generated $3.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $3.3m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MARY IMMACULATE MANAGEMENT EXISTS TO DEVELOP AND IMPLEMENT INNOVATIVE, COMPASSIONATE, COMPETENT, AND RESPONSIVE SERVICES AND PROGRAMS TO ADDRESS UNMET NEEDS OF COMMUNITY ELDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MARGUERITE D'YOUVILLE, MOTHER OF UNIVERSAL CHARITY, BEGAN A RICH TRADITION OF CARING FOR THE MOST VULNERABLE. THE GREY NUNS HAVE CONTINUED THIS TRADITION BY FOCUSING ON PROGRAMS THAT SERVICE THE POOR AND THE UNDERSERVED. IN THE SPIRIT OF MARGUERITE D'YOUVILLE AND THE GREY NUNS, THE COMMUNITY OF MARY IMMACULATE CONTINUES TO SERVE THOSE MOST VULNERABLE THROUGH ITS SPONSORSHIP OF A WIDE VARIETY OF GOOD NEIGHBOR ACTIVITIES. THESE ACTIVITIES ARE ORGANIZED AND FACILITATED BY OUR MISSION DEPARTMENT.THE ENTIRE MARY IMMACULATE GROUP OF ENTITIES, COLECTIVELY MARY IMMACULATE HEALTHCARE SERVICES (MIHCS), FOLLOWS THE METHODOLOGY THAT IS RECOMMENDED BY THE CATHOLIC HEALTH ASSOCIATION FOR CALCULATING THE COST OF SUPPORT FOR THE BROADER COMMUNITY. IN THIS METHODOLOGY, THE COST OF PROVIDING SERVICES IS REDUCED BY PAYMENTS RECEIVED FOR SERVICES, RESULTING IN NET COST. IT IS THE NET COST THAT MIHCS REPORTS AS ITS COMMUNITY BENEFIT, AND IT INCLUDES THE NET COST OF PROGRAMS DIRECTED TO THE POOR AND UNPAID COSTS OF THE MEDICAID PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Foley President & CEO (start 8/2022) | OfficerTrustee | 1 | $0 |
Jeanne Leydon President & CEO (end 8/2022) | OfficerTrustee | 1 | $0 |
Raisa T Carrasco-Velez Director | Trustee | 1 | $0 |
Rev John Delaney Director | Trustee | 1 | $0 |
Roger Desjardins Director | Trustee | 1 | $0 |
Samer Obeid ESQ Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,544 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,008 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $141,552 |
| Total Program Service Revenue | $2,901,550 |
| Investment income | $101,226 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$84,384 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,059,944 |
| 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 | $1,921,458 |
| Pension plan accruals and contributions | $25,253 |
| Other employee benefits | $174,187 |
| Payroll taxes | $151,113 |
| Fees for services: Management | $235,180 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,408 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $64,135 |
| Advertising and promotion | $9,284 |
| Office expenses | $68,654 |
| Information technology | $3,240 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $80 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,074 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,500 |
| Insurance | $54,391 |
| All other expenses | $0 |
| Total functional expenses | $3,327,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,122 |
| Savings and temporary cash investments | $509,778 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $152,395 |
| 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 | $0 |
| Net Land, buildings, and equipment | $663,144 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,831,672 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,144 |
| Total assets | $7,356,255 |
| Accounts payable and accrued expenses | $108,557 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $387,185 |
| Total liabilities | $495,742 |
| Net assets without donor restrictions | $6,860,513 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $7,356,255 |