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Mpower Development Corp FY2021 filing

Not tax-deductible

Philadelphia, PAMutual-benefit / member-servingReligion EIN 46-2668689Revenue $15.5M in FY2021Latest return filed Nov 6, 2025

On file with the IRS1415 Fairmount Ave Suite 241, 19130-2962 · Philadelphia, PATax-exempt since Sep 2013

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The corporation's mission is to hold title to property, collect rent therefrom and turn over the entire amount thereof, less expenses, to an organization which itself is exempt under section 501(a) of the internal revenue code of 1986, as amended.

86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $3.1M a year · 84% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 10.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$205K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.5M
Spent
$847K
To programs
86%
Net assets
$12.9M
By yearFY2021–FY2025
Revenue
$15.5M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$15.5M
FY2022$931K
FY2023$657K
FY2024$633K
FY2025$784K
Expenses
$847K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$847K
FY2022$772K
FY2023$363K
FY2024$344K
FY2025$566K
Net assets
$12.9M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$12.9M
FY2022$12.5M
FY2023$13.5M
FY2024$13.3M
FY2025$12.9M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2013.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $731K Management & general 14% · $116K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
William Koons
Secretary
$0Pt VII · Sec A
Marc Getson
Director
$0Pt VII · Sec A
Alice Herron
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mpower Development Corp executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Manages property, collects rent, and gives all profits to a tax-exempt charity.

Questions for Mpower Development Corp

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Your first name shows with your question. Mpower Development Corp answers here, for everyone.

2 programs · $1.0M · in their own filed words · FY2020
01

Operation and maintenance of property held for 501(a) organizations

$731Kprogram expense
02

Distribution of net profit to organization exempt from income tax under section 501(a)

$287Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15.5M
Ln 12
Other incomeLn 4–11$14.6M
Fees for servicesLn 2g$895K
Money outPt IX
$847K
Ln 25
Programscol B$731K
Managementcol C$116K
Owns and owesPt X
$12.9M
net assets · Ln 32
Cash and savingsLn 1–2$761K
Total assetsLn 16$13.1M
LiabilitiesLn 26$205K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$895K
Other incomeLn 4–11$14.6M
Total revenueLn 12$15.5M
Assets in detailPt X, end of year
CashLn 1$761K
Cash and savings togetherLn 1–2$761K
Accounts receivableLn 4$4K
Prepaid expenses and deferred chargesLn 9$2K
Land, buildings, equipmentLn 10c$11.3M
Other assetsLn 15$984K
Total assetsLn 16$13.1M
LiabilitiesLn 26$205K
Net assetsLn 32$12.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$542K$761K
Land, buildings, equipmentLn 10c$11.8M$11.3M
Total assetsLn 16$13.2M$13.1M
LiabilitiesLn 26$14.7M$205K
Net assetsLn 32−$1.5M$12.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$102K$102K
Accounting feesLn 11c$9K$9K
OccupancyLn 16$75K$75K
InterestLn 20$70K$70K
Depreciation, depletion and amortizationLn 22$510K$510K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$49K$45K$5K
Total functional expensesLn 25$847K$731K$116K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Nov 6, 2025 $784K$566K$218K$12.9M 990 PDF
FY2024Filed with the IRS Oct 25, 2024 $633K$344K$289K$13.3M 990 PDF
FY2023Filed with the IRS Sep 22, 2023 $657K$363K$294K$13.5M 990 PDF
FY2022Filed with the IRS Sep 30, 2022 $931K$772K$159K$12.5M 990 PDF
FY2021 ViewingFiled with the IRS Oct 11, 2021 $15.5M$847K$14.6M$12.9M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $15,455,194 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $893,719$895,194
I-10 Investment incomePrior year $19$0
I-11 Other revenuePrior year $0$14,560,000
I-12 Total revenuePrior year $893,738$15,455,194
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,100,982$847,412
I-18 Total expensesPrior year $1,100,982$847,412
I-19 Revenue less expensesPrior year −$207,244$14,607,782
Part VI · Governance 3 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $15,455,194 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $895,194$895,194
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $14,560,000$14,560,000
VIII-12 Total revenueRelated to mission $15,455,194 · Unrelated business $0 · Excluded from tax $0$15,455,194
Part IX · Statement of functional expenses $847,412 across 7 lines filed
IX-11a Management feesManagement $102,262$102,262
IX-11c Accounting feesManagement $9,000$9,000
IX-16 OccupancyPrograms $74,524$74,524
IX-20 InterestPrograms $70,126$70,126
IX-22 Depreciation, depletion and amortizationPrograms $510,162$510,162
IX-23 InsurancePrograms $31,911$31,911
IX-24 Other expenses (24a–d)Programs $44,617 · Management $4,810$49,427
IX-25 Total functional expensesPrograms $731,340 · Management $116,072 · Fundraising $0$847,412
Part X · Balance sheet $13,067,462 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $542,428$760,854
X-4 Accounts receivableStart of year $8,946$4,133
X-9 Prepaid expenses and deferred chargesStart of year $1,442$1,686
X-10c Land, buildings and equipment, netStart of year $11,808,447$11,316,440
X-15 Other assetsStart of year $866,315$984,349
X-16 Total assetsStart of year $13,227,578$13,067,462
X-17 Accounts payable and accrued expensesStart of year $68,548$82,838
X-19 Deferred revenue$64,399
X-23 Secured mortgages and notes payableStart of year $14,560,000$0
X-25 Other liabilitiesStart of year $57,686$57,801
X-26 Total liabilitiesStart of year $14,686,234$205,038
X-27 Net assets without donor restrictionsStart of year −$1,458,656$12,862,424
X-32 Total net assets or fund balancesStart of year −$1,458,656$12,862,424
X-33 Total liabilities and net assetsStart of year $13,227,578$13,067,462
Part XI · Reconciliation of net assets $12,862,424 net assets at year end
XI-1 Total revenue$15,455,194
XI-2 Total expenses$847,412
XI-3 Revenue less expenses$14,607,782
XI-4 Net assets at start of year−$1,458,656
XI-9 Other changes in net assets−$286,702
XI-10 Net assets at end of year$12,862,424

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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