MMC Corporation

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Phone

9143498455

Tax Period

2023-01-01 to 2023-12-31

MMC Corporation, founded in 1984, is a community nonprofit that reported $8.3M in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $7.7M left a modest 7% surplus.

Mission

TO OWN AND MANAGE REAL ESTATE FOR USE BY MONTEFIORE MEDICAL CENTER AND MONTEFIORE HEALTH SYSTEM, INC., TO SUPPORT THE PROVISION OF HEALTHCARE.

Program Service Accomplishments

Program 1

Expenses: $7,722,397 Revenue: $8,262,398

MMC CORPORATION IS A NEW YORK STATE NOT-FOR-PROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE CODE. MMC CORPORATION WAS INCORPORATED TO SUPPORT AND BENEFIT THE PROVISION OF HEALTH CARE IN THE NEW YORK AREA. MMC CORPORATION OWNS SEVERAL PROPERTIES LOCATED IN THE BRONX, AND ONE IN TARRYTOWN, NEW YORK THAT ARE LEASED PRIMARILY TO MONTEFIORE MEDICAL CENTER AND MONTEFIORE HEALTH SYSTEM TO SUPPORT THE PROVISION OF HEALTHCARE IN THE COMMUNITIES SERVED BY THE MONTEFIORE HEALTH SYSTEM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,262,398

Investment Income $40,551

Other Revenue $0

TOTAL REVENUE $8,302,949

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,722,397

Other Expenses $7,723,147

TOTAL EXPENSES $7,723,147

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,302,949	$13,788,542	-0.4%
Expenses	$7,723,147	$12,423,524	-0.4%
Net Income	$579,802	$1,365,018	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$23,325,514

Total Directors

$18,234,574

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	SECRETARY	0.5	Officer Director	$0	$46,882	$1,872,945
N/A	PRESIDENT	0.5	Officer Director	$0	$46,776	$16,361,629
N/A	EX-OFFICIO DIRECTOR	0.5	Director	$0	$0	$0
N/A	TREASURER	0.5	Officer	$0	$29,882	$3,678,461
N/A	VICE PRESIDENT	2.0	Officer	$0	$272,838	$1,412,479

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$8,302,949	$7,723,147	$85,935,357	$579,802
2022	$13,788,542	$12,423,524	$87,945,395	$1,365,018
2021	$18,523,216	$13,242,224	$89,478,575	$5,280,992
2020	$12,470,968	$12,751,436	$88,583,889	$-280,468
2019	$11,011,665	$11,419,800	$93,487,176	$-408,135
2018	$10,663,320	$10,892,126	$77,365,801	$-228,806