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Massachusetts Housing Investment Corporation at a glanceMostly funded, not a grantmaker: see who funds it →

· Public charity

Massachusetts Housing Investment Corporation

Mhic's mission is to be an innovative private financier of afforable housing and community development throughout new england, providing financing that would not otherwise be available, and extending the impact of that financing to ensure the broadest possible benefit.

$164k
Granted FY2024still arriving
5
Grants FY2024still arriving
3
States reached
$65k
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2024.

Housing & Shelter$320kPhilanthropy$294kCommunity Improvement$170kHuman Services$14k
02FY2024 · 5 grants

Where the money goes

Grants by size, and the largest recipients.

How this is measured
The 5 grants below total $145,000, the rows itemized in this filing. The $164,230 headline is the total grant expense on the return; the other $19,230 is giving the schedule does not break out (grants under the $5,000 itemization floor, grants to individuals, grants on other schedules). Every figure below describes the itemized rows only.

By grant size · FY2024

  • $10k–50k4 grants · $80k
  • $50k–250k1 grant · $65k
$25,000
Median grant
3
States reached
$93M
Total assets
Largest grants
RecipientAmount
NATIONAL ASSOCIATION OF STATE AND LOCAL EQUITY FUNDS$65,000
MASSACHUSETTS ASSOCIATION OF COMMUNITY DEVELOPMENT CORP$30,000
CITIZENS HOUSING AND PLANNING ASSOCIATION$25,000
NATIONAL ASSOCIATION OF AFFORDABLE HOUSING LENDERS$15,000
URBAN EDGE$10,000
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY17–17, $14k) land where the poverty rate runs at 14%, against an area that typically sits at 10%. 100% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 10%CENTER FOR COMMUNITY LIVING: $14k → 14%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

86%of every dollar goes to organizations it has funded before.
$684k · 4 repeat orgs$114k to everyone else

Grantees it renews have grown median revenue +92% since the first grant, against +76% for those funded once.

4 repeat relationships: 4 still active in FY2024, 0 since wound down; 1 grantees were first funded in FY2024 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

4
11

Total granted

$684k
$104k

Median revenue growth · since first grant

+92%
+76%

Still filing today

100%
73%

New vs renewed · share of each year

In FY2024, 93% of grant dollars renewed an existing relationship; $10k went to new ones.

50%100%’17’18’19’20’21’22’23’24
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’17’18’19’20’21’22’23’24
Housing & ShelterCommunity ImprovementHuman ServicesSocial ScienceOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • NA
    NATIONAL ASSOCIATION OF STATE AND LOCAL EQUITY FUNDS
    8× · 2017–2024 · $294k · revenue +121%
  • CITIZENS' HOUSING AND PLANNING ASSOCIATION INC
    7× · 2018–2024 · $175k · revenue +28%
  • MA
    MASSACHUSETTS ASSOCIATION OF COMMUNITY DEVELOPMENT CORPORATION
    6× · 2017–2024 · $125k · revenue +92%

Funded once

  • HN
    HOUSING NAVIGATOR MASSACHUSETTS
    one grant, 2020 · $25k
  • JAMAICA PLAIN NEIGHBORHOOD DEVELOPMENT CORPORATIONgraduated
    one grant, 2017 · $20k · revenue +162%
  • CF
    CENTER FOR AFFORDABLE HOUSING LENDING
    one grant, 2017 · $14k · revenue -56%
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Chn Housing Capital

Chn housing capital is a certified community development financial institution serving low-income individuals and distressed communities guided by the belief that homeownership should be within everyone's reach.

Human Services
2
Nebraska Housing Developers Association

To increase the availability of affordable housing in nebraska.

Community Improvement
3
Massachusetts Housing Investment Corporation

Mhic's mission is to be an innovative private financier of afforable housing and community development throughout new england, providing financing that would not otherwise be available, and extending the impact of that financing to ensure…

Housing & Shelter
4
Madison Park Housing Corporation

The primary mission is to provide support for low income housing.

Housing & Shelter
5
Chicago Neighborhood Initiatives Inc

Generating economic development & combating community deterioration in low-income communities.

Community Improvement
6
Atlanta Neighborhood Development Partnership Inc

To develop, finance, and advocate for affordable housing at scale that promotes racial equity and healthy communities where families thrive.

Housing & Shelter
7
Chattanooga Neighborhood Enterprise

Mission: to create economically diverse neighborhoods filled with financially empowered citizens and housing for all.vision: all chattanoogans can afford a safe place in a strong neighborhood to call home. belief: we believe the future of…

Housing & Shelter
8
Massachusetts Affordable Housing Alliance Inc

Maha breaks down barriers facing first-time and first-generation home buyers and owners through education, counseling, advocacy, and grassroots organizing.

Housing & Shelter
9
Cambridge Affordable Housing Corp

The organization's mission is to provide management and supporting services for related organizations which own and operate low-income housing units for qualified individuals in the city of cambridge, ma.

Housing & Shelter
10
Housing Partnership Development Corporation

Housing partnership development corporation functions to provide available low and moderate cost housing in the new york metro area through new housing production, preservation, rehabilitation, as well as the revitalization and…

Housing & Shelter
11
The Non-Profit Community Developmen Corporation of Dc

Npcdc's mission is to initate, sponsor and operate housing and economic development projects that create economic stability and upward mobility for low-income families in metropolitan washington, dc.

Housing & Shelter
12
Madison Park Economic Development Corp

To provide support for economic revitalization in the roxbury, massachusetts area.

Community Improvement
How this is measured
The grantee most central to the portfolio’s shape is Madison Park Development Corporation; the most unlike its peers is The Alliance for Business Leadership Inc. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

14 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 14 of the 16 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

0
Load-bearing (≥25% of a budget)
5
Early backer (in before they grew)
13/14
Grantees still filing
10/14
Grew since first funded

Where the money sits, by cause and then by grantee

NATIONAL ASSOCIATION OF STATE AND LOCAL EQUITY FUNDS: $293,667 · OtherNATIONAL ASSOCIATION OF STATE AND LOCAL EQUITY FUNDSMASSACHUSETTS ASSOCIATION OF COMMUNITY DEVELOPMENT CORPORATION: $125,000 · OtherMASSACHUSETTS ASSOCIATION OF COMMUNITY DEVELOPMENT CORPORATIONNATIONAL ASSOCIATION OF AFFORDABLE HOUSING LENDERS: $90,000 · OtherNATIONAL ASSOCIATION OF AFFORDABLE HOUSING LENDERSHOUSING NAVIGATOR MASSACHUSETTS: $25,000 · Other+3 more: $15,000 · OtherCITIZENS' HOUSING AND PLANNING ASSOCIATION INC: $175,000 · Housing & ShelterCITIZENS' HOUSING AND PLANN…HOME CITY DEVELOPMENT INC: $10,000 · Housing & Shelter+2 more: $10,000 · Housing & ShelterJAMAICA PLAIN NEIGHBORHOOD DEVELOPMENT CORPORATION: $20,000 · Community ImprovementURBAN EDGE HOUSING CORPORATION: $10,000 · Community ImprovementLOCAL INITIATIVES SUPPORT CORPORATION: $5,000 · Community ImprovementCENTER FOR AFFORDABLE HOUSING LENDING: $14,000 · Human ServicesTHE ALLIANCE FOR BUSINESS LEADERSHIP INC: $5,000 · Social Science
Other$548,667Housing & Shelter$195,000Community Improvement$35,000Human Services$14,000Social Science$5,000

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetNATIONAL ASSOCIATION OF STATE AND LOCAL EQUITY FUNDS: $293,667 over 8y, 11% of budgetCITIZENS' HOUSING AND PLANNING ASSOCIATION INC: $175,000 over 7y, 0.8% of budgetMASSACHUSETTS ASSOCIATION OF COMMUNITY DEVELOPMENT CORPORATION: $125,000 over 6y, 1.7% of budgetNATIONAL ASSOCIATION OF AFFORDABLE HOUSING LENDERS: $90,000 over 6y, 1.3% of budgetJAMAICA PLAIN NEIGHBORHOOD DEVELOPMENT CORPORATION: $20,000 over 1y, 0.3% of budgetCENTER FOR AFFORDABLE HOUSING LENDING: $14,000 over 1y, 6.1% of budgetHOME CITY DEVELOPMENT INC: $10,000 over 1y, 0.3% of budgetURBAN EDGE HOUSING CORPORATION: $10,000 over 1y, 0.1% of budgetTHE ALLIANCE FOR BUSINESS LEADERSHIP INC: $5,000 over 1y, 0.8% of budgetTHE NEIGHBORHOOD DEVELOPERS INC: $5,000 over 1y, 0.1% of budgetLAWRENCE COMMUNITYWORKS INC: $5,000 over 1y, 0.1% of budgetCREW BOSTON INC: $5,000 over 1y, 0.8% of budgetLOCAL INITIATIVES SUPPORT CORPORATION: $5,000 over 1y, 0.0% of budgetMADISON PARK DEVELOPMENT CORPORATION: $5,000 over 1y, 0.1% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

United Way Of Massach…Eastern Bank Foundati…Boston Foundation IncMass General Brigham …Neighborhood Reinvest…Enterprise Community …Local Initiatives Sup…Td Charitable Foundat…Children's Hospital C…Cambridge Savings Cha…Rockland Trust Charit…Liberty Mutual Founda…
United Way Of Massachusetts Bay IncMA19.6× affinity7 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: United Way Of Massachusetts Bay Inc · Eastern Bank Foundation · Boston Foundation Inc · Mass General Brigham Incorporated & Affiliates Group Return · Neighborhood Reinvestment Corporation · Enterprise Community Partners Inc · Local Initiatives Support Corporation · Td Charitable Foundation · Children's Hospital Corporation · Cambridge Savings Charitable Foundation Inc · Rockland Trust Charitable Foundation Inc · Liberty Mutual Foundation Inc

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization Massachusetts Housing Investment Corporation funds: left to right is the share of its income from government, bottom to top the share from Massachusetts Housing Investment Corporation. Bigger dots raise more.

2024
’20’21’22’23’24
no gov · 20%1%4%8%15%funder's share of their income ↑0%15%30%45%60%share of the org’s income from government →median 9%
  • Citizens' Housing and Planning Association Inc: 26% of income from government
  • Jamaica Plain Neighborhood Development Corporation: 9% of income from government
  • Lawrence Communityworks Inc: 9% of income from government
  • The Neighborhood Developers Inc: 3% of income from government
  • Urban Edge Housing Corporation: 2% of income from government
  • Madison Park Development Corporation: 1% of income from government
no gov moneyreceives it· size = income
2get no government money at all
1report government grants on their 990 we could not trace to a source (not plotted)
0rely on government for over half their income
⤢ axis zoomed · 0–60%
typical government reliance, FY20–24
How this is measured
Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.

On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 16 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

How this is measured
Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

Generated from the IRS Form 990 e-file return for fiscal year 2024, released 2024. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

Source object · view filing

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More from the funding graph

The unnamed billions
grants reported with no recipient in the public record
The regranting layer
51% of grant dollars land in the regranting layer
The DAF merry-go-round
$9.7B circulates between donor-advised funds
The endowment market
who holds foundation money, and what just moved
The camps
funders cluster by geography, not ideology
By state
where grant money is based, and what stays home