Masters Institute
- Assets
- $34.7k
- Revenue
- $302.6k
- Investments
- $0.0
- Employees
- 7
- Location
- White Bear Lake, MN
- Founding
- 08/2001
- Data as of
- 06/2021
- EIN
- 41-1999800
Organization Overview
Masters Institute is located in White Bear Lake, MN. The organization was established in 2001. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 06/2021, Masters Institute employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Masters Institute 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 Institute generated $302.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $347.5k during the year ending 06/2021. While expenses have increased by 1.5% 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
TO EQUIP THE HEART, HEAD AND HANDS OF LEADERS IN THE KINGDOM OF GOD THROUGH SPIRITUAL AND CHARACTER FORMATION, BIBLICAL TEACHING AND LEADERSHIP TRAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MI SEMINARY - WE TRAINED 33 MEN AND WOMEN IN A SEMINARY SETTING TO FILL LEADERSHIP POSITIONS IN CHURCH SETTINGS, SUCH AS PASTORS, WORSHIP LEADERS, YOUTH PASTORS AND CHIDRENS' MINISTERS.
MICRO MDIV - THIS IS AN 18 MONTH LEADERSHIP TRAINING PROGRAM FOCUSED ON INCREASING THE COMPETENCY, CHARACTER AND CAPACITY OF CHRISTIAN LEADERS. THIS PROGRAM IS FACILITATED WITHIN CONGREGATIONS AND IS STAFFED BY MI PERSONNEL. WE TRAINED 5 MEN AND WOMEN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Per Nilsen President | Officer | 10 | $40,800 |
Eric Hulstrand Secretary | Trustee | 1 | $0 |
Christian Dahl Financial Secretary | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $206,775 |
| Investment income | $23 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$18,596 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,581 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $40,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $240,006 |
| Pension plan accruals and contributions | $2,840 |
| Other employee benefits | $0 |
| Payroll taxes | $9,493 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,615 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $350 |
| Fees for services: Other | $690 |
| Advertising and promotion | $1,530 |
| Office expenses | $12,588 |
| Information technology | $468 |
| Royalties | $0 |
| Occupancy | $9,060 |
| Travel | $398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,534 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,566 |
| All other expenses | $0 |
| Total functional expenses | $347,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,895 |
| Savings and temporary cash investments | $2,004 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$12,574 |
| 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 | $5,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $34,685 |
| Accounts payable and accrued expenses | $6,267 |
| Grants payable | $0 |
| Deferred revenue | $27,000 |
| 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 | $45,430 |
| Other liabilities | $0 |
| Total liabilities | $78,697 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$44,012 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Masters Institute has recieved totaling $32,500.
| Awarding Organization | Amount |
|---|---|
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $32,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Des Moines University Osteopathic Medical Center Des Moines, IA | $450,267,375 | $87,558,866 |
Palmer College Foundation Davenport, IA | $257,383,249 | $91,492,236 |
Mitchell Hamline School Of Law St Paul, MN | $82,186,251 | $56,266,158 |
Independent School District No 535 Health & Dental Care Rochester, MN | $8,853,710 | $33,608,097 |
North Central University Minneapolis, MN | $48,028,269 | $37,778,406 |
Northwestern Health Sciences University Bloomington, MN | $39,341,448 | $34,284,875 |
Krell Institute Inc Ames, IA | $2,185,280 | $14,305,955 |
Duluth Graduate Medical Education Council Inc Duluth, MN | $4,803,601 | $7,733,024 |
High School For Recording Arts St Paul, MN | $4,751,970 | $7,549,848 |
Iowa Medical Education Collaborative Des Moines, IA | $0 | $4,983,705 |
United Theological Seminary Of The Twin Cities St Paul, MN | $12,813,883 | $6,235,932 |
Oak Hills Fellowship Inc Bemidji, MN | $7,589,446 | $4,230,819 |