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← MASTERY COMMUNITY BUILDERS INC

Form 990 for tax year 2022

Filed by MASTERY COMMUNITY BUILDERS INC.

Totals

Total revenue
$3,001,728
Total expenses
$5,511,167
Contributions and grants received
$3,352,022
Grants paid
$0
Program service revenue
$0
Investment income
$79,549
Other revenue
-$429,843
Total assets, end of year
$74,804,459
Total liabilities, end of year
$71,724,153
Net assets or fund balances, end of year
$3,080,306
Program services expenses (Part IX)
$5,437,500
Management and general expenses
$73,667
Fundraising expenses
$0
Program service expenses (Part III)
$5,437,500

Program services were 98.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,352,022

  • 3 · Investment income

    total $79,549 · excluded $79,549

  • 6a · Gross rents

    real property $2,226,444

  • 6b · Less rental expenses

    real property $2,656,287

  • 6c · Rental income or loss

    real property -$429,843

  • 6d · Net rental income or loss

    total -$429,843 · related or exempt -$429,843

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $16,943 · management and general $16,943

  • 11c · Fees: accounting

    total $40,000 · management and general $40,000

  • 11g · Fees: other

    total $9,500 · management and general $9,500

  • 20 · Interest

    total $5,437,500 · program services $5,437,500

  • 23 · Insurance

    total $4,482 · management and general $4,482

  • 24a · Other expenses: LICENSES AND FEES

    total $2,208 · management and general $2,208

  • 24b · Other expenses: BANK CHARGES

    total $534 · management and general $534

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $355,800 · end of year $590,301

  • 2 · Savings and temporary cash investments

    beginning of year $3,265,762 · end of year $3,200,515

  • 3 · Pledges and grants receivable

    beginning of year $474,331 · end of year $303,062

  • 4 · Accounts receivable

    beginning of year $43,798 · end of year $478,129

  • 10a · Land, buildings and equipment: cost or other basis

    $69,022,394

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,181,192

  • 10c · Land, buildings and equipment, net

    beginning of year $61,577,858 · end of year $59,841,202

  • 15 · Other assets

    beginning of year $10,703,750 · end of year $10,391,250

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,044,498 · end of year $1,666,425

  • 19 · Deferred revenue

    beginning of year $139,667 · end of year $79,055

  • 25 · Other liabilities

    beginning of year $69,647,389 · end of year $69,978,673

  • 27 · Net assets without donor restrictions

    beginning of year -$5,070,776 · end of year -$7,267,715

  • 28 · Net assets with donor restrictions

    beginning of year $10,660,521 · end of year $10,348,021

Mission and programs · 2022

Mission

LEASE OF SCHOOL FACILITIES FOR MASTERY CHARTER SCHOOLS.

  • COLLECTION OF RENT AND SERVICING DEBT.

    Expenses $5,437,500

As filed on the 2022 return.

Listed in Part VII

  • Stephen Cohn

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jay Goldstein

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Ron Biscardi

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • MSC STATE & RIVER LLC MSC STATE & RIVER LLC

    OWN SCHOOL · NJ · income $2,682,529 · assets $30,414,824

    Directly controlled by MASTERY CO MCB

  • MSC STEVENS STREET LLC MSC STEVENS STREET LLC

    OWN SCHOOL · NJ · income $224,742 · assets $9,199,361

    Directly controlled by MASTERY CO MCB

  • MSC FREMONT STREET LLC MSC FREMONT STREET LLC

    OWN SCHOOL · NJ · income $103,804 · assets $3,705,665

    Directly controlled by MASTERY CO MCB

  • MSC VINE STREET LLC MSC VINE STREET LLC

    OWN SCHOOL · NJ · income $434,901 · assets $11,704,566

    Directly controlled by MASTERY CO MCB

  • MSC ERIE STREET LLC MSC ERIE STREET LLC

    OWN SCHOOL · NJ · income $757,342 · assets $20,813,432

    Directly controlled by MASTERY CO MCB

Provenance

Return type
form_990
Tax year
2022
Filed
23 April 2024
IRS schema version
2022v5.0
Source object
202401159349300000

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