Civic Intelligence

Mpt Facility Inc.

990 • Fiscal year 2020 • EIN 46-3252777

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization ProfileN/A
125 Sussex AvenueNewark, NJ 07103

(973) 621-0015

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.32x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

97th percentile

13.59x

Higher debt load relative to revenue than 97% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

6th percentile

-51%

Higher net margin than 6% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

17th percentile

$125,000

Higher top officer pay than 17% of similar nonprofits.

Top officer pay equals 4.7% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

23rd percentile

-0.6%

Faster asset growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

57th percentile

5.7%

Faster revenue growth than 57% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$27,462,174

Down $165,859 (-0.6%) from 2019

Net Assets

Down

-$8,690,462

Down $1,368,620 (-19%) from 2019

Liabilities

Up

$36,152,636

Up $1,202,761 (+3.4%) from 2019

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin6th percentile

Revenue

Up

$2,660,745

Up $142,528 (+5.7%) from 2019

Expenses

Down

$4,029,365

Down $548,731 (-12%) from 2019

Net Income

Up

-$1,368,620

Up $691,259 (+34%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$20M$0-$20MAssets 2014: $30,588,503Liabilities 2014: $30,557,769Net Assets 2014: $30,7342014Assets 2015: $31,402,562Liabilities 2015: $31,199,729Net Assets 2015: $202,8332015Assets 2016: $29,387,418Liabilities 2016: $31,366,416Net Assets 2016: -$1,978,9982016Assets 2017: $28,820,058Liabilities 2017: $32,400,456Net Assets 2017: -$3,580,3982017Assets 2018: $28,689,892Liabilities 2018: $33,951,855Net Assets 2018: -$5,261,9632018Assets 2019: $27,628,033Liabilities 2019: $34,949,875Net Assets 2019: -$7,321,8422019Assets 2020: $27,462,174Liabilities 2020: $36,152,636Net Assets 2020: -$8,690,4622020Assets 2021: $27,105,188Liabilities 2021: $36,720,136Net Assets 2021: -$9,614,9482021Assets 2023: $28,350,313Liabilities 2023: $39,146,096Net Assets 2023: -$10,795,7832023Assets 2024: $27,742,335Liabilities 2024: $39,701,758Net Assets 2024: -$11,959,4232024

Highlighted filing

2020

Assets$27,462,174
Liabilities$36,152,636
Net Assets-$8,690,462
Open 2020 Filing

Operations Trend

Revenue Growth57th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2014: $971,624Expenses 2014: $940,890Net Income 2014: $30,7342014Revenue 2015: $1,962,319Expenses 2015: $1,790,220Net Income 2015: $172,0992015Revenue 2016: $2,367,246Expenses 2016: $4,111,629Net Income 2016: -$1,744,3832016Revenue 2017: $2,500,274Expenses 2017: $4,101,674Net Income 2017: -$1,601,4002017Revenue 2018: $2,376,075Expenses 2018: $4,057,640Net Income 2018: -$1,681,5652018Revenue 2019: $2,518,217Expenses 2019: $4,578,096Net Income 2019: -$2,059,8792019Revenue 2020: $2,660,745Expenses 2020: $4,029,365Net Income 2020: -$1,368,6202020Revenue 2021: $1,327,699Expenses 2021: $2,010,891Net Income 2021: -$683,1922021Revenue 2023: $2,652,437Expenses 2023: $3,982,944Net Income 2023: -$1,330,5072023Revenue 2024: $2,797,364Expenses 2024: $3,961,004Net Income 2024: -$1,163,6402024

Highlighted filing

2020

Revenue$2,660,745
Expenses$4,029,365
Net Income-$1,368,620
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.1
Gross Receipts
$2,660,745
Mission and Program Overview

Mission

Mpt facility, inc. ("mpt facility"), a new jersey non-profit corporation was established to assist friends of marion p. Thomas and the marion p. Thomas school in the development and financing of public school facilities.

The mpt facility, inc. Was organized exclusively, for the benefit of, or to carry out the purposes of the friends of marion p. Thomas charter school, a 501(c)(3). In particular, the organization shall purchase, hold title to, improve, develop, construct, renovate, operate, lease or otherwise manage educational facilities for lease by friends of mptcs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$25,252,059$24,604,295▼ $647,764
Savings and Temporary Cash Investments$596,800$600,190▲ $3,390
Accounts Receivable-$178,380-
Total Assets$27,628,033$27,462,174▼ $165,859
Other Assets Total$1,779,174$2,079,309▲ $300,135
Liabilities
Tax Exempt Bond Liabilities$28,942,500$30,077,500▲ $1,135,000
Other Liabilities$5,500,000$5,657,761▲ $157,761
Accounts Payable and Accrued Expenses$417,375$417,375→ $0
Deferred Revenue$90,000$0▼ $90,000
Total Liabilities$34,949,875$36,152,636▲ $1,202,761
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-7,321,842$-8,690,462▼ $1,368,620
Total Net Assets Fund Balance$-7,321,842$-8,690,462▼ $1,368,620
Total Liabilities and Net Assets / Fund Balance$27,628,033$27,462,174▼ $165,859

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$22,347,834$3,562,699$25,910,533
Land$2,256,461-$2,256,461
Other Assets Org$1,207,913--
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Rev Garvey InceExecutive DirectorPT$125,000$125,000

Board Members and Trustees

NameTitle
Brian HankersonBoard Member
Melvinea WilliamsBoard Member
Karen Young-thomasBoard Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,580,008
Program Service Revenue
$1,080,000
Investment Income
$737
Other Revenue
$0
Change in Net Assets
$-1,368,620
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,029,365
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$2,181,415--$2,181,415
Other Expenses$1,135,000--$1,135,000
Depreciation Depletion$647,764$64,548-$712,312
Fees for Services Other-$638-$638
Total Functional Expenses$3,964,179$65,186$0$4,029,365
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Direct Loans Payable$5,500,000
Due to Real Estate Holdings, Inc.$157,761

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Jersey Economic Development Authority2014-05-30$35,000,000Finance acquisition property construction of school facility at sussex ave.

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$35,000,000--$1,290,958

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The draft form 990 is provided by management to board members via e-mail for a detail review. Comments and changes from the members are incorporated into the form 990. The revised draft form 990 is provided to the board members via e-mail for review and approval prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Officers and members of the board are required to complete an annual disclosure form of condition or situation that could give rise to conflict of interest. Disclosures are reviewed by the board for compliance with policy. If a conflict is noted, the member of the board will not be allowed to vote on the matter related to the conflict of interest noted.”

Form 990, Part VI, Section B, Line 15

“Although no compensation is paid to the officers of the organization, the board has a standing policy of reviewing all compensation, basis of such compensation and data from comparable organization.”

Form 990, Part VI, Section C, Line 19

“The governing documents, financial statements and conflict of interest policy are available upon request at 125 sussex avenue, newark, nj. Its form 990 is also available at www.guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Mpt Facility Inc
EIN
46-3252777
Phone
9736210015
Address
125 SUSSEX AVENUE, NEWARK, NJ 07103

Signing Officer

Name
Garvey Ince
Title
Executive Director
Phone
9736210015
Signed
2021-11-12

Organization Details

Principal Officer
Garvey Ince
Formed
2013
Legal Domicile
Nj
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Galleros Robinson Cpas Llp
Address
115 DAVIS STATION ROAD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros CPA
Phone
7324622020
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization recognizes the effect of income tax positions only if those positions are morelikely- than-not sustained upon examination by taxing authorities. Management has determined that the organization had no uncertain tax positions that would require financial statement recognition. The organization are no longer subject to audits by the applicable taxing jurisdictions for tax periods prior to 2018.”

Raw XML AppendixShowing 400 of 458 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE MPT FACILITY, INC. WAS ORGANIZED EXCLUSIVELY, FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF THE FRIENDS OF MARION P. THOMAS CHARTER SCHOOL, A 501(C)(3). IN PARTICULAR, THE ORGANIZATION SHALL PURCHASE, HOLD TITLE TO, IMPROVE, DEVELOP, CONSTRUCT, RENOVATE, OPERATE, LEASE OR OTHERWISE MANAGE EDUCATIONAL FACILITIES FOR LEASE BY FRIENDS OF MPTCS.
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IRS990/Desc0MPT FACILITY PROVIDED THE MARION P. THOMAS CHARTER SCHOOL WITH A NEW STATE-OF-THE-ART BUILDINGS FOR ITS CHARTER SCHOOL OPERATIONS AT SUSSEX AVE. NEWARK, NJ. THE SCHOOL FACILITIES MEET THE REQUIREMENTS OF THE CHARTER SCHOOL TO PROVIDE A SUITABLE SCHOOL ENVIRONMENT FOR ITS HIGH SCHOOL STUDENTS. THROUGHOUT 2019, MPT FACILITY MAINTAINED THE BUILDING AND CARRIED OUT NECESSARY INSPECTIONS, REPAIRS AND MET COMPLIANCE WITH BUILDING CODES APPLICABLE TO SCHOOLS.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DIRECT LOANS PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO REAL ESTATE HOLDINGS, INC.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORELIKELY- THAN-NOT SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. THE ORGANIZATION ARE NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR TAX PERIODS PRIOR TO 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
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IRS990ScheduleJ/WrittenEmploymentContractInd0X
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IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0FINANCE ACQUISITION PROPERTY CONSTRUCTION OF SCHOOL FACILITY AT SUSSEX AVE.
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt0639907
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt01290958
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02015
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DRAFT FORM 990 IS PROVIDED BY MANAGEMENT TO BOARD MEMBERS VIA E-MAIL FOR A DETAIL REVIEW. COMMENTS AND CHANGES FROM THE MEMBERS ARE INCORPORATED INTO THE FORM 990. THE REVISED DRAFT FORM 990 IS PROVIDED TO THE BOARD MEMBERS VIA E-MAIL FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS AND MEMBERS OF THE BOARD ARE REQUIRED TO COMPLETE AN ANNUAL DISCLOSURE FORM OF CONDITION OR SITUATION THAT COULD GIVE RISE TO CONFLICT OF INTEREST. DISCLOSURES ARE REVIEWED BY THE BOARD FOR COMPLIANCE WITH POLICY. IF A CONFLICT IS NOTED, THE MEMBER OF THE BOARD WILL NOT BE ALLOWED TO VOTE ON THE MATTER RELATED TO THE CONFLICT OF INTEREST NOTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALTHOUGH NO COMPENSATION IS PAID TO THE OFFICERS OF THE ORGANIZATION, THE BOARD HAS A STANDING POLICY OF REVIEWING ALL COMPENSATION, BASIS OF SUCH COMPENSATION AND DATA FROM COMPARABLE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST AT 125 SUSSEX AVENUE, NEWARK, NJ. ITS FORM 990 IS ALSO AVAILABLE AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE FRIENDS OF MARION PTHOMAS CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1MARION P THOMAS CHARTER SCHOOL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0020731318
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1223531113
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROVIDE SUPPORT, THROUGH ASSETS AND RESOURCES FOR MPTCS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1CHARTER SCHOOL EDUCATION
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LEASE CONTRACT
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1INTEREST EXPENSE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0MARION P THOMAS CHARTER SCHOOL
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1FRIENDS OF MARION P THOMAS CHARTER SCHOOL
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1D
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IRS990/SignificantChangeInd00
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IRS990/SubjectToProxyTaxInd00
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IRS990/TaxablePartyNotificationInd00
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IRS990/TotalLiabilitiesEOYAmt036152636
IRS990/TotalLiabilitiesGrp/BOYAmt034949875
IRS990/TotalLiabilitiesGrp/EOYAmt036152636

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,462,174
Liabilities
$36,152,636
Net assets
-$8,690,462
Revenue
$2,660,745
Expenses
$4,029,365
Net income
-$1,368,620
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$27.7$39.7$12.0$2.80$3.96$1.16
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.4$39.1$10.8$2.65$3.98$1.33
2021Detailed filing. Detailed filing data is available for this year.$27.1$36.7$9.61$1.33$2.01$0.68
2020Detailed filing. Detailed filing data is available for this year.$27.5$36.2$8.69$2.66$4.03$1.37
2019Detailed filing. Detailed filing data is available for this year.$27.6$34.9$7.32$2.52$4.58$2.06
2018Detailed filing. Detailed filing data is available for this year.$28.7$34.0$5.26$2.38$4.06$1.68
2017Detailed filing. Detailed filing data is available for this year.$28.8$32.4$3.58$2.50$4.10$1.60
2016Detailed filing. Detailed filing data is available for this year.$29.4$31.4$1.98$2.37$4.11$1.74
2015Detailed filing. Detailed filing data is available for this year.$31.4$31.2$0.20$1.96$1.79$0.17
2014Detailed filing. Detailed filing data is available for this year.$30.6$30.6$0.03$0.97$0.94$0.03