The Masters School Inc
- Assets
- $3.2m
- Revenue
- $4.0m
- Investments
- $59.6k
- Employees
- 73
- Location
- West Simsbury, CT
- Founding
- 05/1969
- Data as of
- 06/2021
- 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 06/2021, Masters School Inc employed 73 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 06/2021, Masters School Inc generated $4.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $3.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 6 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
2021
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 |
|---|---|---|---|
Raymond P Lagan Head Of School | Officer | 40 | $95,955 |
Todd Shelansky Treasurer | OfficerTrustee | 1 | $0 |
David Houf Vice President | OfficerTrustee | 1 | $0 |
Kathryn Kay President | OfficerTrustee | 1 | $0 |
Robert Gray Secretary | OfficerTrustee | 1 | $0 |
Julie Volpe Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $476,400 |
| All other contributions, gifts, grants, and similar amounts not included above | $453,427 |
| Noncash contributions included in lines 1a–1f | $290 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $929,827 |
| Total Program Service Revenue | $3,054,325 |
| Investment income | $3,335 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,376 |
| Net Gain/Loss on Asset Sales | $8,624 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,022,690 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $910,853 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,727 |
| Compensation of current officers, directors, key employees. | $62,863 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,492,962 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $364,975 |
| Payroll taxes | $110,174 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,000 |
| Fees for services: Accounting | $23,138 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,937 |
| Advertising and promotion | $0 |
| Office expenses | $25,065 |
| Information technology | $112,202 |
| Royalties | $0 |
| Occupancy | $329,454 |
| Travel | $14,231 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $62,602 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $166,597 |
| Insurance | $0 |
| All other expenses | $97,906 |
| Total functional expenses | $3,926,249 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,408 |
| Savings and temporary cash investments | $332,448 |
| Pledges and grants receivable | $9,000 |
| Accounts receivable, net | $12,247 |
| 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 | $12,110 |
| Net Land, buildings, and equipment | $2,442,222 |
| Investments—publicly traded securities | $149,052 |
| Investments—other securities | $59,592 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,500 |
| Total assets | $3,178,579 |
| Accounts payable and accrued expenses | $270,337 |
| Grants payable | $0 |
| Deferred revenue | $117,930 |
| 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 | $1,172,365 |
| Unsecured mortgages and notes payable | $474,525 |
| Other liabilities | $0 |
| Total liabilities | $2,035,157 |
| Net assets without donor restrictions | $862,969 |
| Net assets with donor restrictions | $280,453 |
| 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 | $3,178,579 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that The Masters School Inc has recieved totaling $23,604.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,093 |
Henry Safford Peacock Foundation Lincoln, IL PURPOSE: UNRESTRICTED | $5,000 |
Whitehall Foundation Inc Palm Beach, FL PURPOSE: GENERAL PURPOSE | $1,000 |
The Patton Charitable Foundation Hobe Sound, FL PURPOSE: ANNUAL FUNDEDUCATIONSECONDARY | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $511 |
Endowment Analysis
| Beg. Balance | $181,021 |
| Earnings | $27,623 |
| Ending Balance | $208,644 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Albany Academy Albany, NY | $58,726,077 | $27,181,105 |
Cambridge School Of Weston Inc Weston, MA | $57,046,494 | $20,616,161 |
Nichols School Of Buffalo Buffalo, NY | $102,003,479 | $42,213,694 |
Yeshiva Shaare Torah Inc Brooklyn, NY | $32,363,623 | $20,724,747 |
Ideal School Of Manhattan New York, NY | $22,538,816 | $19,239,739 |
Harvey School Katonah, NY | $30,358,551 | $19,988,341 |
Lincoln School Providence, RI | $36,052,997 | $18,197,199 |
The Harley School Rochester, NY | $36,830,266 | $16,619,746 |
Quad Preparatory School New York, NY | $14,717,917 | $18,563,667 |
Amber Charter School New York, NY | $18,229,334 | $20,911,182 |
Green Vale School Old Brookville, NY | $64,002,052 | $17,567,329 |
Winchendon School Inc Winchendon, MA | $68,621,046 | $15,557,946 |