Mpb Inc
- Assets
- $397.0m
- Revenue
- $58.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Norfolk, VA
- Founding
- 03/1999
- Data as of
- 12/2021
- EIN
- 54-1346393
Organization Overview
Mpb Inc is located in Norfolk, VA. The organization was established in 1999. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mpb Inc is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 12/2021, Mpb Inc generated $58.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $46.2m during the year ending 12/2021. While expenses have increased by 12.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MPB IS ORGANIZED SOLELY TO HOLD TITLE TO PROPERTY AND TURNS NET INCOME OVER TO SENTARA ENTERPRISES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MPB, INC. HOLDS TITLE TO PROPERTY, COLLECTS RENT, AND TURNS OVER THE ENTIRE AMOUNT, LESS EXPENSES, TO IT'S SECTION 501(C)(3) TAX EXEMPT PARENT, SENTARA ENTERPRISES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Howard P Kern Director/chairman | OfficerTrustee | 1 | $0 |
Aubrey L Layne President & Chairman | OfficerTrustee | 1 | $0 |
Robert A Broermann Director/treasurer | OfficerTrustee | 1 | $0 |
Kurt T Hofelich President | Officer | 1 | $0 |
Louis Patalano IV Secretary (through 9/25/21) | Officer | 1 | $0 |
Samuel J Hawley Assist Secretary | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Whiting Turning Contracting Company Construction | 12/30/21 | $11,571,124 |
Building Maintenance Service Llc Integrated Facility Services | 12/30/21 | $698,781 |
Roof Services Roofing Service & Maintenance | 12/30/21 | $520,356 |
Brightview Landscape Services Inc Landscaping Services | 12/30/21 | $507,382 |
Kt Jackson Janitorial Professional Services | 12/30/21 | $452,290 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $58,529,425 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$185,859 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $58,868,450 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,112,231 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $210,429 |
| Advertising and promotion | $0 |
| Office expenses | $3,704,571 |
| Information technology | $27,159 |
| Royalties | $0 |
| Occupancy | $14,371,216 |
| Travel | $3,232 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,462,466 |
| Insurance | $785,372 |
| All other expenses | $0 |
| Total functional expenses | $46,152,471 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $521,817 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $38,977 |
| Net Land, buildings, and equipment | $375,337,216 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $17,153,535 |
| Other assets | $3,927,293 |
| Total assets | $396,978,838 |
| Accounts payable and accrued expenses | $730,063 |
| Grants payable | $0 |
| Deferred revenue | $931,278 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,420,461 |
| Total liabilities | $20,081,802 |
| Net assets without donor restrictions | $376,897,036 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $396,978,838 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mpb Inc Norfolk, VA | $396,978,838 | $58,868,450 |
Community Capital Corporation - Sonia Gutierrez Campus Washington, DC | $0 | $6,304,492 |
Bit Holdings Three Inc Baltimore, MD | $969,623,957 | $40,242,400 |
Northern Virginia Assoc Of Realtors Incorporated Fairfax, VA | $24,558,097 | $7,651,355 |
Vertex Non Profit Holdings Inc Fairmont, WV | $32,441,063 | $3,635,457 |
1800 Massachusetts Avenue Corp Washington, DC | $77,332,269 | $5,465,941 |
Rancho Cucamonga Ii Inc Charlotte, NC | $253,822,278 | $8,749,351 |
Richmond Board Of Realtors Richmond, VA | $32,077,110 | $4,626,448 |
Longleaf Pine Realtors Inc Fayetteville, NC | $7,914,934 | $3,962,762 |
Boscobel Heights Development Company Inc Nashville, TN | $26,913,589 | $950,458 |
American Diabetes Association Property Title Holding Corporation Arlington, VA | $20,277,269 | $1,938,970 |
Greater Baltimore Board Of Realtors Inc Lutherville Timonium, MD | $9,621,072 | $2,245,768 |