MASSACHUSETTS HOUSING INVESTMENT CORPORATION
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$22,569,310
Program Services
50%
Contributions
31%
Government Grants
16%
Investments
3%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$11,762,667
Salaries & Benefits
68%
Fees to Service Providers
15%
Other
6%
Offices, Occupancy & IT
6%
Interest
3%
Grants
1%
Advertising & Promotion
<1%
Depreciation
<1%
Benefits to Members
0%
Revenues
2023
2024
Change
Contributions
$0
$7,018,300
-
Government Grants
$1,657,470
$3,537,530
+113%
Fundraising Events
$0
$0
-
Program Services
$11,401,121
$11,370,173
0%
Membership Dues
$0
$0
-
Investments
$944,693
$643,307
-32%
Other
$59,599,257
$0
-100%
Total Revenues
$73,602,541
$22,569,310
-69%
Expenses
2023
2024
Change
Grants
$135,308
$164,230
+21%
Benefits to Members
$0
$0
-
Salaries & Benefits
$7,464,141
$7,994,255
+7%
Fees to Service Providers
$2,584,880
$1,714,423
-34%
Advertising & Promotion
$165,827
$110,139
-34%
Offices, Occupancy & IT
$729,207
$677,690
-7%
Interest
$270,799
$320,939
+19%
Depreciation
$67,319
$23,209
-66%
Other
$60,389,238
$757,782
-99%
Total Expenses
$71,806,719
$11,762,667
-84%
Net income
2023
2024
Change
Net income
+$1,795,822
+$10,806,643
+502%
Functional Expenses
Summary
2023
2024
Change
Program
$70,316,757
$10,302,675
-85%
Admin
$1,489,962
$1,459,992
-2%
Fundraising
$0
$0
-
Total Expenses
$71,806,719
$11,762,667
-84%
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