Mmc Residential Corp 1 Inc
- Assets
- $8.4m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Bronx, NY
- Founding
- 12/2000
- Data as of
- 06/2021
- EIN
- 91-1943271
Organization Overview
Mmc Residential Corp 1 Inc is located in Bronx, NY. The organization was established in 2000. 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. As of 06/2021, Mmc Residential Corp 1 Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mmc Residential Corp 1 Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 06/2021, Mmc Residential Corp 1 Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $1.1m during the year ending 06/2021. 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
MMC RESIDENTIAL CORP. PROVIDES COMMERCIAL SPACE TO MONTEFIORE MEDICAL CENTER IN FURTHERANCE OF THE MEDICAL CENTER MISSION OF ADVANCING THE HEALTH OF THE COMMUNITIES SERVED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MMC RESIDENTIAL CORP. I, INC., A SUBSIDIARY OF MONTEFIORE MEDICAL CENTER, OWNS AND OPERATES A RENTAL BUILDING NEAR MONTEFIORE MEDICAL CENTER THAT IT RENTS OUT AS COMMERCIAL SPACE TO THE MEDICAL CENTER IN FURTHERANCE OF THE MEDICAL CENTER'S MISSION TO TEACH, TO DISCOVER AND TO ADVANCE THE HEALTH OF THE COMMUNITIES IT SERVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher S Panczner Secretary | OfficerTrustee | 0.5 | $0 |
Edward Pfleging President | OfficerTrustee | 2 | $0 |
Lindsay Baker Former Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securitas Security Services Usa In Security Services | 6/29/21 | $244,209 |
Structural Preservation Systems In Contracting Services | 6/29/21 | $562,021 |
Aa Maintenance Enterprise Inc Cleaning Services | 6/29/21 | $186,679 |
Quik Park Monte Llc Parking Services | 6/29/21 | $105,772 |
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 | $2,972,094 |
| Investment income | $0 |
| 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 | $3,029,830 |
| 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 | $250,229 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,320 |
| Payroll taxes | $0 |
| Fees for services: Management | $62,899 |
| Fees for services: Legal | $3,489 |
| 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 | $65,431 |
| Advertising and promotion | $0 |
| Office expenses | $142,058 |
| Information technology | $918 |
| Royalties | $0 |
| Occupancy | $407,325 |
| 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 | $85,036 |
| Insurance | $4,006 |
| All other expenses | $0 |
| Total functional expenses | $1,097,711 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,003,342 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,402,334 |
| Total assets | $8,405,676 |
| Accounts payable and accrued expenses | $282,520 |
| 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 | $0 |
| Total liabilities | $282,520 |
| Net assets without donor restrictions | $8,123,156 |
| 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 | $8,405,676 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Center For New York City New York, NY | $125,177,702 | $23,546,233 |
Wellspan Properties Inc York, PA | $178,389,137 | $19,225,192 |
Rebecca Residence Allison Park, PA | $63,370,668 | $20,665,205 |
The Housing Partnership Network Inc Boston, MA | $38,640,476 | $16,875,187 |
Alliance For Behavioral & Developmental Disabilities Ltd Hermitage, PA | $7,380,317 | $14,591,071 |
Building Homes For Heroes Inc Island Park, NY | $15,491,113 | $13,729,241 |
Taconic Innovations Inc Wappingers Falls, NY | $14,026,966 | $12,196,980 |
The Crenulated Company Ltd New York, NY | $9,182,171 | $10,442,755 |
Living Independently Forever Inc Hyannis, MA | $12,273,693 | $10,857,981 |
Civic Builders Inc New York, NY | $87,716,137 | $21,789,241 |
Buffalo Federation Of Neighborhood Centers Inc Buffalo, NY | $8,954,316 | $11,146,328 |
Grand Street Guild East Housing Development Fund Company Inc Garden City, NY | $32,476,672 | $9,886,793 |