Overview
What is Mmc Corporation?
Mmc Corporation is a New York-based not-for-profit organization, exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. Established to support and benefit healthcare provision in the New York area, Mmc Corporation owns several properties, primarily leased to Montefiore Medical Center and Montefiore Health System, located in the Bronx and Tarrytown, New York. The organization's mission is to manage real estate for these healthcare institutions to ensure the continuity and expansion of their services in the communities they serve.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two Stars (64%)
Mmc Corporation has received a Two-Star out of Four Star rating from Charity Navigator, reflecting a moderate level of accountability and financial health. The organization's Accountability & Finance score of 64 indicates some areas for improvement, particularly regarding the composition and size of its board, which lacks sufficient independent members.
Strengths of Mmc Corporation include a high program expense ratio of 99.98%, suggesting that nearly all funds are directed towards its programs rather than administrative costs. Additionally, the organization has established strong policies in areas such as conflict of interest, whistleblower protections, and document retention, which demonstrate a commitment to good governance practices.
However, there are notable limitations, particularly in transparency. The organization has failed to provide its financial statements and tax forms on its website, which detracts from its accountability. Additionally, the high liabilities to assets ratio of 71.68% raises concerns about financial stability. Overall, while Mmc Corporation shows strengths in program spending and governance policies, improvements in board independence and financial transparency are necessary to enhance its rating.
This AI summary has been generated from information found on Charity Navigator.
Is Mmc Corporation legitimate?
Mmc Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mmc Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Mmc Corporation?
Mmc Corporation is a not-for-profit organization set up to support the provision of healthcare. Its primary activity involves owning and managing real estate, which is mostly leased to Montefiore Medical Center and Montefiore Health System for this purpose. The corporation was established with the aim of contributing to the healthcare sector in New York, and it currently manages properties in various locations to further this goal. The real estate owned by the corporation is essential for the functioning of these healthcare providers, enabling them to serve their communities effectively. Mmc Corporation's mission is to facilitate the delivery of healthcare by providing suitable premises for Montefiore Medical Center and Montefiore Health System, ensuring the continuity of their services.
Who is the CEO of Mmc Corporation?
Philip O Ozuah Md Phd is the President of Mmc Corporation.
What is the revenue of Mmc Corporation?
Mmc Corporation's revenue in 2022 was $13,788,542.
Who are the executives of Mmc Corporation and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $9,856,588
- Other: $49,625
- Compensation: $0
- Related: $3,537,630
- Other: $29,968
- Compensation: $0
- Related: $1,857,333
- Other: $41,124
- Compensation: $0
- Related: $1,085,621
- Other: $262,210
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Mmc Corporation?
Mmc Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Mmc Corporation
MMC Corporation, a New York State not-for-profit organization, is dedicated to supporting the provision of healthcare through the ownership and management of real estate. Established with the mission to benefit the health care sector, MMC Corporation exempts from federal income tax under Section 501(a) of the Internal Revenue Code as an organization described in section 501(c)(3) of the Code.
In pursuit of its mission, MMC Corporation manages properties primarily leased to Montefiore Medical Center and Montefiore Health System. These properties serve as vital resources, enabling the delivery of healthcare services in the communities they serve. The corporation's real estate holdings are not limited to one specific location and have contributed significantly to the health care infrastructure in the New York area.
MMC Corporation's purpose goes beyond just owning and managing real estate. By providing facilities for Montefiore Medical Center and Montefiore Health System, the organization plays a crucial role in ensuring the continuity and success of healthcare provision. The corporation's commitment to this cause is unwavering, leading to a positive impact on the lives of countless individuals.
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Impact
October, 2024
Mmc Corporation plays a vital role in enhancing healthcare provisions in the New York area by owning and managing critical real estate assets for Montefiore Medical Center and Montefiore Health System. This strategic ownership allows for the efficient operation of healthcare facilities, ultimately improving access to medical services for the communities served, particularly in the Bronx and Tarrytown.
By ensuring that Montefiore has the necessary physical assets to operate effectively, Mmc Corporation supports the delivery of essential healthcare services to a diverse population. Their work contributes to community improvement by not only facilitating healthcare access but also by fostering a healthier environment through well-maintained and strategically located medical facilities. This impact resonates through the improved health outcomes of community members, showcasing Mmc Corporation's commitment to supporting healthcare infrastructure and promoting public health in their region.
This information is meant to be a general summary of Mmc Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $45,124
- Program Service Revenue: $13,743,418
- Gross Receipts: $13,788,542
Assets and Liabilities:
- Total Assets: $87,945,395
- Total Liabilities: $63,044,141
- Net Assets: $24,901,254
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$13,743,418
Organization Details
Founding Year
1984
Phone
(914) 349-8455Principal Officer
Philip O Ozuah Md Phd
Main Address
111 EAST 210TH STREET, BRONX, NY, 104672401
NTEE Category
Code: S47 - Community improvement
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