Form 990 for tax year 2024

Filed by MASTERY COMMUNITY BUILDERS INC.

Totals

Total revenue: $5,725,639
Total expenses: $7,627,257
Contributions and grants received: $0
Grants paid: $0
Program service revenue: $5,578,466
Investment income: $147,173
Other revenue: $0
Total assets, end of year: $71,117,810
Total liabilities, end of year: $72,190,845
Net assets or fund balances, end of year: -$1,073,035
Program services expenses (Part IX): $7,537,296
Management and general expenses: $89,961
Fundraising expenses: $0
Program service expenses (Part III): $7,537,296

Program services were 98.8% 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.

2a · Program service revenue: SUBSIDY PAYMENTS

total $3,352,022 · related or exempt $3,352,022
2b · Program service revenue: RENTAL INCOME

total $2,226,444 · related or exempt $2,226,444
3 · Investment income

total $147,173 · excluded $147,173

Functional expenses

Part IX, the statement of functional expenses.

11c · Fees: accounting

total $67,192 · management and general $67,192
11g · Fees: other

total $12,500 · management and general $12,500
20 · Interest

total $5,477,959 · program services $5,477,959
22 · Depreciation, depletion and amortization

total $2,059,337 · program services $2,059,337
23 · Insurance

total $4,608 · management and general $4,608
24a · Other expenses: BANK CHARGES

total $4,086 · management and general $4,086
24b · Other expenses: LICENSES AND FEES

total $1,575 · management and general $1,575

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,155,019 · end of year $1,284,216
2 · Savings and temporary cash investments

beginning of year $3,255,412 · end of year $2,521,430
3 · Pledges and grants receivable

beginning of year $698,338 · end of year $1,177,806
10a · Land, buildings and equipment: cost or other basis

$69,114,143
10b · Land, buildings and equipment: accumulated depreciation

$12,746,035
10c · Land, buildings and equipment, net

beginning of year $58,114,946 · end of year $56,368,108
15 · Other assets

beginning of year $10,078,750 · end of year $9,766,250
17 · Accounts payable and accrued expenses

beginning of year $1,647,493 · end of year $1,495,847
23 · Secured mortgages and notes payable

beginning of year $70,327,661 · end of year $70,694,998
25 · Other liabilities

beginning of year $498,728 · end of year $0
27 · Net assets without donor restrictions

beginning of year -$9,206,938 · end of year -$10,796,056
28 · Net assets with donor restrictions

beginning of year $10,035,521 · end of year $9,723,021

Mission and programs · 2024

Mission

LEASE OF SCHOOL FACILITIES FOR MASTERY SCHOOLS.

MASTERY COMMUNITY BUILDERS INC (MCB) IS A NONPROFIT CORPORATION ORGANIZED IN JEW JERSEY. MCB WAS FOUNDED TO IMPROVE THE EDUCATION AND EDUCATIONAL OPPORTUNITIES OF SCHOOL-AGE CHILDREN LIVING IN LOW-INCOME COMMUNITIES THROUGHOUT CAMDEN, NEW JERSEY. MCB'S PRIMARY ACTIVITY IS FOR THE DEVELOPMENT AND RENOVATION OF FACILITIES FOR LEASE TO MASTERY SCHOOLS OF CAMDEN OR OTHER AUTHORIZED RENAISSANCE SCHOOLS AS PERMITTED UNDER THE URBAN HOPE ACT.

Expenses $7,537,296 · Revenue $5,578,466

As filed on the 2024 return.

Listed in Part VII

Ron BiscardiRON BISCARDI

PRESIDENT

Total calculated

$0

Hours/week

1
Stephen CohnSTEPHEN COHN

BOARD MEMBER

Total calculated

$0

Hours/week

1 + 1 related
James ReynoldsJAMES REYNOLDS

BOARD MEMBER

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

MASTERY SCHOOLS OF CAMDEN

501(C)(3) · SCHOOL · NJ

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

SUPPORT SCHOOLS · NJ · income $2,706,491 · assets $29,249,268

Directly controlled by MASTERY COMMUNITY BUILDERS INC
MSC STEVENS STREET LLC

SUPPORT SCHOOLS · NJ · income $230,804 · assets $8,814,188

Directly controlled by MASTERY COMMUNITY BUILDERS INC
MSC FREMONT STREET LLC

SUPPORT SCHOOLS · NJ · income $107,555 · assets $3,571,871

Directly controlled by MASTERY COMMUNITY BUILDERS INC
MSC VINE STREET LLC

SUPPORT SCHOOLS · NJ · income $442,916 · assets $11,299,378

Directly controlled by MASTERY COMMUNITY BUILDERS INC
MSC ERIE STREET LLC

SUPPORT SCHOOLS · NJ · income $770,409 · assets $20,068,538

Directly controlled by MASTERY COMMUNITY BUILDERS INC
MSC FACILITIES LLC

SUPPORT SCHOOLS · NJ · income $2,133,989 · assets $32,582,583

Directly controlled by MASTERY COMMUNITY BUILDERS INC
MSC VINE STREET ANNEX LLC

SUPPORT SCHOOLS · NJ · income $0 · assets $0

Directly controlled by MASTERY COMMUNITY BUILDERS INC

Provenance

Return type: form_990
Tax year: 2024
Filed: 6 May 2026
IRS schema version: 2024v5.5
Source object: 202621269349303562

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