Civic Intelligence

Mpt Facility Inc.

990 • Fiscal year 2024 • EIN 46-3252777

Jul 01, 2023 to Jun 30, 2024 • Filed on May 05, 2025

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

98th percentile

1.43x

Higher debt load relative to assets than 98% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

14.19x

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

6th percentile

-42%

Higher net margin than 6% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

17th percentile

$131,561

Higher top officer pay than 17% of similar nonprofits.

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

2024 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

21st percentile

-2.1%

Faster asset growth than 21% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

43rd percentile

5.5%

Faster revenue growth than 43% of similar nonprofits.

2024 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$27,742,335

Down $607,978 (-2.1%) from 2023

Net Assets

Down

-$11,959,423

Down $1,163,640 (-11%) from 2023

Liabilities

Up

$39,701,758

Up $555,662 (+1.4%) from 2023

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin6th percentile

Revenue

Up

$2,797,364

Up $144,927 (+5.5%) from 2023

Expenses

Down

$3,961,004

Down $21,940 (-0.6%) from 2023

Net Income

Up

-$1,163,640

Up $166,867 (+13%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2024

Assets$27,742,335
Liabilities$39,701,758
Net Assets-$11,959,423
Open 2024 Filing

Operations Trend

Revenue Growth43rd 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

2024

Revenue$2,797,364
Expenses$3,961,004
Net Income-$1,163,640
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 5, 2025
Return Version
2023v6.0
Gross Receipts
$2,797,364
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$22,984,885$22,337,121▼ $647,764
Savings and Temporary Cash Investments$387,762$1,497,122▲ $1,109,360
Total Assets$28,350,313$27,742,335▼ $607,978
Other Assets Total$4,977,666$3,908,092▼ $1,069,574
Liabilities
Tax Exempt Bond Liabilities$32,915,000$33,404,520▲ $489,520
Other Liabilities$5,657,761$5,657,761→ $0
Accounts Payable and Accrued Expenses$417,375$417,375→ $0
Deferred Revenue$155,960$222,102▲ $66,142
Total Liabilities$39,146,096$39,701,758▲ $555,662
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-10,795,783$-11,959,423▼ $1,163,640
Total Net Assets Fund Balance$-10,795,783$-11,959,423▼ $1,163,640
Total Liabilities and Net Assets / Fund Balance$28,350,313$27,742,335▼ $607,978

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,080,660$5,829,873$25,910,533
Land$2,256,461-$2,256,461
Other Assets Org$396,394--
Compensation and Service Providers
Top Officer Pay17th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Rev Garvey InceExec Director UntPT$131,561$131,561

Board Members and Trustees

NameTitle
Willie Blalock IiiPresident
Richard Vieser1st Vice Pre
Edward Butler2nd Vice Pre
Carolyn WhighamMember
Diane JohnsonMember
Robert MccloudMember
Wilson WoodridgeMember
Brian HankersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,592,266
Program Service Revenue
$1,182,280
Investment Income
$22,818
Other Revenue
$0
Change in Net Assets
$-1,163,640
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,961,004
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$2,113,692--$2,113,692
Depreciation Depletion$1,135,000$712,312-$1,847,312
Total Functional Expenses$3,248,692$712,312$0$3,961,004
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 Loan Payable$5,500,000
Due to Affiliates$157,761

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Jersey Economic Development Aut2014-05-30$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
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, 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, Page 6, Part VI, 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, Page 6, Part VI, Line 15A

“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, Page 6, Part VI, Line 15B

“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, Page 6, Part VI, Line 19

“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 VII

“Rev. Garvey ince, who served as secretary, passed away on september 27, 2024.”

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
Willie Blalock Iii
Title
President
Phone
9736210015
Signed
2025-05-05

Organization Details

Principal Officer
Willie Blalock Iii
Formed
2013
Legal Domicile
Nj
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Galleros Robinson
Address
115 DAVIS STATION RD, CREAM RIDGE, NJ 08514
Preparer
Leonora Galleros
Phone
6469210400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.”

Form 990, Page 12, Part XII, Line 2C

“The process did not change from prior year.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The friends recognizes the effect of income tax positions only if those positions are more-likely-than-not be sustained upon examination by taxing authorities. Management has determined that the friends had no uncertain tax positions that would require financial statement recognition. The friends are no longer subject to audits by the applicable taxing jurisdictions for tax periods prior to 2021.”

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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 HIGHSCHOOL STUDENTS. THROUGHOUT 2024, MPT FACILITY MAINTAINED THE BUILDING AND CARRIED OUT NECESSARY INSPECTIONS, REPAIRS AND MET COMPLIANCE WITH BUILDING CODES APPLICABLE TO SCHOOLS.
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt014781018
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1396394
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM AFFILIATES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1BOND SUBSIDY RECEIVABLE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1157761
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DIRECT LOAN PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO AFFILIATES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FRIENDS RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS DETERMINED THAT THE FRIENDS HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. THE FRIENDS ARE NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR TAX PERIODS PRIOR TO 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt03908092
IRS990ScheduleD/TotalLiabilityAmt05657761
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IRS990ScheduleK/SupplementalInformationDetail/ExplanationTxt0NEW JERSEY ECONOMIC DEVELOPMENT AUTH FINANCE ACQUISITION PROPERTY CONSTRUCTION OF SCHOOL FACILITY AT SUSSEX AVE.
IRS990ScheduleK/SupplementalInformationDetail/FormAndLineReferenceDesc0PURPOSE OF ISSUE DESCRIPTION
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IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0FINANCE ACQUISITION PROPERTY CONSTRUCTION OF SCHOOL FACILITY AT SUSSEX AVE.
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MPT 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2OFFICERS 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/ExplanationTxt3ALTHOUGH 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/ExplanationTxt4ALTHOUGH 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/ExplanationTxt5ALTHOUGH 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/ExplanationTxt6REV. GARVEY INCE, WHO SERVED AS SECRETARY, PASSED AWAY ON SEPTEMBER 27, 2024.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PROCESS DID NOT CHANGE FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VII
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 12, PART XII, LINE 2C
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE FRIENDS OF MARION P THOMAS CHA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0RTER SCHOOL INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0370 S 7TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEWARK
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0FRIENDS OF MARION P THOMAS CHARTER
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$27,742,335
Liabilities
$39,701,758
Net assets
-$11,959,423
Revenue
$2,797,364
Expenses
$3,961,004
Net income
-$1,163,640
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