FRIENDS OF MARION P THOMAS INC CHARTER SCHOOL INC

EIN: 020731318 501(c)(3) Education

NEWARK, NJ

Total Revenue
$5,893,843
Total Expenses
$3,757,191
Total Assets
$67,325,247
Net Assets
$16,975,113
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
NJ
Principal Officer
REV GARVEY INCE
Phone
9736210015
Tax Period
2022-07-01 to 2023-06-30

FRIENDS OF MARION P THOMAS INC CHARTER SCHOOL INC, founded in 2004, is a community nonprofit in the Education sector that reported $5.9M in total revenue in fiscal year 2022. The organization ran a surplus of $2.1M, a strong 36% operating margin.

Mission

TO PROVIDE SUPPORT, THROUGH ASSETS AND RESOURCES, FOR THE MARION P. THOMAS CHARTER SCHOOL, SUPPORT INCLUDES MANAGEMENT OF REAL ESTATE ASSETS AND RENOVATION RELEVANT TO SCHOOL FACILITIES, DEVELOPMENT OF STRATEGIC PLANS TO MEET THE PROJECTED GROWTH OF THE CHARTER SCHOOL, AND RAISE FUNDS, THROUGH CAPITAL CAMPAIGN FOR THE PURCHASE OF ADDITIONAL FACILITIESS AND/OR FOR THE RENOVATION AND MAINTENANCE OF EXISTING FACILITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $2,536,631
Investment Income $2,209,882
Other Revenue $1,147,330
TOTAL REVENUE $5,893,843

Expense Breakdown

Grants Paid $0
Salaries & Benefits $141,186
Fundraising Expenses $0
Program Expenses $2,628,037
Other Expenses $3,616,005
TOTAL EXPENSES $3,757,191

Year-over-Year Comparison

2022 2021 Change
Revenue $5,893,843 $5,766,045 +0.0%
Expenses $3,757,191 $4,719,488 -0.2%
Net Income $2,136,652 $1,046,557 +1.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
8
Independent Members
8
Employees
1
Volunteers
8

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$130,167
Total Directors
9
$130,167
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
REV GARVEY INCE EXECUTIVE DI 40.00
Officer Director
$125,000 $5,167 $130,167
WILLIE BLALOCK CHAIRMAN 2.00
Officer Director
$0 $0 $0
RICHARD VIESER 1ST VICE CHA 2.00
Officer Director
$0 $0 $0
EDWARD BUTLER ESQ 2ND VICE CHA 2.00
Officer Director
$0 $0 $0
BRIAN HANKERSON TREASURER 1.00
Officer Director
$0 $0 $0
DIANE JOHNSON MEMBER 1.00
Director
$0 $0 $0
ROBERT MCCLOUD MEMBER 1.00
Director
$0 $0 $0
CAROLYN WHIGHAM MEMBER 1.00
Director
$0 $0 $0
WILSON WOODRIDGE MEMBER 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $5,893,843 $3,757,191 $67,325,247 $2,136,652
2022 $5,766,045 $4,719,488 $66,786,191 $1,046,557
2021 $5,678,158 $4,220,676 $66,040,011 $1,457,482
2020 $5,885,809 $4,553,913 $64,922,766 $1,331,896
2019 $5,829,774 $4,158,157 $64,637,474 $1,671,617
2018 $5,115,079 $3,440,968 $38,727,103 $1,674,111
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