Overview
What is Friends Of Marion P Thomas Inc Charter School Inc?
Friends of Marion P. Thomas Inc. Charter School Inc. is a nonprofit organization based in Newark, New Jersey, with an address at 370 South 7th Street, 07103. Their primary mission is to support the Marion P. Thomas Charter School by managing its real estate assets, such as multiple buildings for school operations. The organization ensures the facilities meet the school's requirements, providing a suitable environment for its 1,600 pre-K to high school students. Friends also develop strategic plans to accommodate the school's growth, raise funds for additional facilities or renovations, and maintain the existing facilities according to building codes applicable to schools. Overall, Friends of Marion P. Thomas aims to support the academic, social, and financial initiatives of Newark students and families affiliated with the charter school.
Official website here: www.mptcsfriends.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 81%, Three-Star out of Four Star rating.
Friends Of Marion P Thomas Inc Charter School Inc has received an 81% rating from Charity Navigator, indicating a solid level of accountability and financial management. The organization scored particularly well in areas such as having a fully independent board and strong audit practices, which suggests a commitment to transparency and ethical governance.
The financial health of the organization is demonstrated by its program expense ratio of 71.18%, meaning a significant majority of funds are directed towards its programs. This effective use of resources reflects positively on the organization’s mission-driven approach. Additionally, the presence of comprehensive policies for conflict of interest and whistleblower protections further enhances its operational integrity.
However, while the score indicates a strong performance in accountability and finance, it is essential to consider the overall impact and outcomes of the programs offered. The rating is primarily focused on financial metrics, and potential donors may want to explore the effectiveness of the organization's programs and their alignment with its stated mission.
This AI summary has been generated from information found on Charity Navigator.
Is Friends Of Marion P Thomas Inc Charter School Inc legitimate?
Friends Of Marion P Thomas Inc Charter School Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Friends Of Marion P Thomas Inc Charter School Inc 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: $141,321
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.mptcsfriends.org
What is the mission statement of Friends Of Marion P Thomas Inc Charter School Inc?
Friends of Marion P. Thomas Inc. Charter School Inc. was established with the purpose of providing support, utilizing assets and resources, for the academic, social, and financial initiatives of students and families affiliated with the Marion P. Thomas Charter School. The organization's primary role involves managing real estate assets and renovating school facilities, developing strategic plans to accommodate the projected growth of the charter school, and raising funds through capital campaigns for the acquisition of additional facilities or the renovation and maintenance of existing ones. Friends of Marion P. Thomas Charter School Inc. has provided well-maintained buildings for the school's operations, with five operating leases executed between the organization and the charter school in FY 2015. The facilities meet the charter school's requirements to provide a suitable learning environment for its 1,600 pre-K to high school students. The organization continues to explore development and expansion options, anticipating the charter school's growing needs. In FY 2019, Friends of Marion P. Thomas Charter School Inc. maintained the facilities, carried out necessary inspections, repairs, and ensured compliance with building codes applicable to schools.
Official website here: www.mptcsfriends.org
Who is the CEO of Friends Of Marion P Thomas Inc Charter School Inc?
Garvey Ince is the 2Nd Vice Chairman of Friends Of Marion P Thomas Inc Charter School Inc.
Official website here: www.mptcsfriends.org
What is the revenue of Friends Of Marion P Thomas Inc Charter School Inc?
Friends Of Marion P Thomas Inc Charter School Inc's revenue in 2022 was $5,766,045.
Official website here: www.mptcsfriends.org
Who are the executives of Friends Of Marion P Thomas Inc Charter School Inc and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.mptcsfriends.org
Where can I find the form 990 for Friends Of Marion P Thomas Inc Charter School Inc?
Friends Of Marion P Thomas Inc Charter School Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mptcsfriends.org
Learn more at the official website: www.mptcsfriends.org
Mission Statement of Friends Of Marion P Thomas Inc Charter School Inc
Friends of Marion P. Thomas Charter School Inc is a nonprofit organization dedicated to providing support for the Marion P. Thomas Charter School. Their mission, in essence, is to contribute assets and resources towards the academic, social, and financial initiatives of the students and families connected to this charter school. The primary goal is to ensure the school's environment is conducive for its 1,600 pre-K to high school children.
To achieve this, Friends of Marion P. Thomas Charter School Inc manages real estate assets and facilities, develops strategic plans to accommodate the school's projected growth, and raises funds through capital campaigns for the acquisition of additional facilities or renovation and maintenance of existing ones. The organization's commitment extends beyond the physical infrastructure, as they continuously explore development and expansion options to meet the growing needs of the charter school.
Throughout its operations, Friends of Marion P. Thomas Charter School Inc ensures the school facilities comply with applicable codes, carrying out necessary repairs and inspections to maintain the well-maintained buildings provided to the charter school for its operations. This unwavering support from Friends of Marion P. Thomas Charter School Inc plays a crucial role in the continued success and growth of the Marion P. Thomas Charter School, ultimately benefiting its students and families.
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Impact
July, 2024
Friends Of Marion P Thomas Inc Charter School Inc's impact is evident in the support it provides to the Marion P. Thomas Charter School. By managing real estate assets, renovating school facilities, and developing strategic plans for growth, Friends plays a crucial role in ensuring the school can meet the needs of its 1,600 Pre-K to high school students. Through its activities, Friends contributes to creating a suitable and conducive learning environment for the students, facilitating the school's operations and expansion. Additionally, by raising funds for facility purchases and renovations, Friends actively supports the educational endeavors of Newark students and families associated with the Marion P. Thomas Charter School.
This information is meant to be a general summary of Friends Of Marion P Thomas Inc Charter School Inc. 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: $2,156,111
- Program Service Revenue: $2,452,233
- Gross Receipts: $5,766,045
Assets and Liabilities:
- Total Assets: $66,786,191
- Total Liabilities: $51,947,730
- Net Assets: $14,838,461
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SCHOOL FACILITIES RENT
Revenue
$2,293,833
MANAGEMENT FEE
Revenue
$158,400
Organization Details
Founding Year
2004
Phone
(973) 621-0015Principal Officer
Garvey Ince
Main Address
370 SOUTH 7TH STREET, NEWARK, NJ, 07103
Website
www.mptcsfriends.orgNTEE Category
Code: B11 - Education
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