Misac Corporation
- Assets
- $3.2m
- Revenue
- $1.6m
- Investments
- $303.1k
- Employees
- 0
- Location
- East Hartford, CT
- Founding
- 09/1971
- Data as of
- 04/2023
- EIN
- 06-0858160
Organization Overview
Misac Corporation is located in East Hartford, CT. The organization was established in 1971. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Misac Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 04/2023, Misac Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.7m during the year ending 04/2023. While expenses have increased by 4.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Misac Corporation has awarded 36 individual grants totaling $1,166,901. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING TO QUALIFIED FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A 191 UNIT APARTMENT COMPLEX FOR MODERATE INCOME FAMILIES.
TO PROMOTE HOUSING FOR MODERATE INCOME FAMILIES THROUGH GIFTS TO OTHER ORGANIZATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Grey President & Director | OfficerTrustee | 2 | $0 |
Malcolm Barlow VP & Director | OfficerTrustee | 2 | $0 |
Roger Edinger Sec & Director | OfficerTrustee | 2 | $0 |
Calvin Vinick Treas & Director | OfficerTrustee | 2 | $0 |
Anne Carr Director | Trustee | 2 | $0 |
Joyce Crutchfield Director | Trustee | 2 | $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 | $1,576,735 |
| Investment income | $421 |
| 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 | $1,577,156 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $196,394 |
| 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 | $66,621 |
| Fees for services: Legal | $3,030 |
| Fees for services: Accounting | $9,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $746 |
| Office expenses | $38,268 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $766,743 |
| Travel | $4,275 |
| 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 | $169,465 |
| Insurance | $7,013 |
| All other expenses | $7,157 |
| Total functional expenses | $1,652,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,452,171 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,082 |
| 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 | $102,260 |
| Net Land, buildings, and equipment | $1,291,502 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $303,073 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $72,706 |
| Total assets | $3,248,794 |
| Accounts payable and accrued expenses | $38,794 |
| Grants payable | $185,655 |
| Deferred revenue | $11,289 |
| 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 | $111,203 |
| Total liabilities | $346,941 |
| Net assets without donor restrictions | $2,901,853 |
| 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 | $3,248,794 |
Grants Awarded
Over the last fiscal year, Misac Corporation has awarded $185,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MARC INC OF MANCHESTER PURPOSE: GROUP HOME REPAIRS AND UPGRADES | $70,000 |
MARC INC OF MANCHESTER PURPOSE: FACILITY IMPROVEMENTS | $82,500 |
CT COALITION TO END HOMELESSNESS PURPOSE: NO DESCRIPTION | $15,000 |
MACC PURPOSE: FACILITY IMPROVEMENTS | $18,000 |