The Masters School Inc
- Assets
- $2.8m
- Revenue
- $4.5m
- Investments
- $59.6k
- Employees
- 75
- Location
- West Simsbury, CT
- Founding
- 05/1969
- Data as of
- 06/2022
- EIN
- 23-7016084
Organization Overview
The Masters School Inc is located in West Simsbury, CT. The organization was established in 1969. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Masters School Inc employed 75 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masters School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Masters School Inc generated $4.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $4.1m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AN INTEGRATION OF FAITH AND LEARNING WITHIN THE FRAMEWORK OF A BIBLICAL WORLDVIEW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MASTER'S SCHOOL IS A PRIVATE COLLEGE PREPARATORY SCHOOL WHICH EMPHASIZES CHRISTIAN PRINCIPLES AND TEACHES GRADES PRESCHOOL THROUGH POST GRAD. APPROXIMATELY 200 STUDENTS BENEFIT FROM THESE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathryn Kay President | OfficerTrustee | 1 | $0 |
David Houf Vice President/president | OfficerTrustee | 1 | $0 |
Todd Shelansky Treasurer/president | OfficerTrustee | 1 | $0 |
Robert Gray Secretary | OfficerTrustee | 1 | $0 |
Julie Volpe Trustee/vice President | OfficerTrustee | 1 | $0 |
Robert Ekstrom Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $24,279 |
| Related organizations | $0 |
| Government grants | $474,525 |
| All other contributions, gifts, grants, and similar amounts not included above | $701,511 |
| Noncash contributions included in lines 1a–1f | $2,775 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,200,315 |
| Total Program Service Revenue | $3,218,684 |
| Investment income | $5,789 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $21,470 |
| Net Gain/Loss on Asset Sales | $5,426 |
| Net Income from Fundraising Events | -$300 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,451,411 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,034,205 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $181,338 |
| Compensation of current officers, directors, key employees. | $105,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,571,975 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $284,176 |
| Payroll taxes | $124,084 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,210 |
| Fees for services: Accounting | $21,064 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,899 |
| Advertising and promotion | $0 |
| Office expenses | $26,870 |
| Information technology | $93,907 |
| Royalties | $0 |
| Occupancy | $347,838 |
| Travel | $17,855 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,818 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185,941 |
| Insurance | $0 |
| All other expenses | $2,735 |
| Total functional expenses | $4,142,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,982 |
| Savings and temporary cash investments | $200,871 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,297 |
| 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 | $10,422 |
| Net Land, buildings, and equipment | $2,359,648 |
| Investments—publicly traded securities | $111,664 |
| Investments—other securities | $59,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,500 |
| Total assets | $2,824,976 |
| Accounts payable and accrued expenses | $263,415 |
| Grants payable | $0 |
| Deferred revenue | $35,668 |
| 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 | $1,110,372 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,409,455 |
| Net assets without donor restrictions | $1,171,402 |
| Net assets with donor restrictions | $244,119 |
| 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 | $2,824,976 |