Mastery Transcript Consortium
- Assets
- $1.3m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Winchester, MA
- Founding
- 11/2017
- Data as of
- 06/2022
- EIN
- 81-4974458
Organization Overview
Mastery Transcript Consortium is located in Winchester, MA. The organization was established in 2017. As of 06/2022, Mastery Transcript Consortium employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mastery Transcript Consortium 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, Mastery Transcript Consortium generated $2.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $2.5m during the year ending 06/2022. While expenses have increased by 14.3% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MTC WAS FOUNDED TO ACCELERATE AND SUPPORT SECONDARY SCHOOLS' ABILITY TO PRACTICE MASTERY LEARNING AT SCALE. A GLOBAL CONSORTIUM OF INNOVATIVE PUBLIC AND PRIVATE SCHOOLS IMPLEMENTING NEW LEARNING MODELS, MTC CO-CREATES INTERACTIVE, DIGITAL TOOLS THAT BOTH EMPOWER LEARNERS TO SHOWCASE THE COMPETENCIES THEY MASTER AND ENABLE SCHOOLS TO CREDENTIAL COMPETENCY-BASED EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTING AND ENGAGING MEMBERSHIP OF THE ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Maxey Board Member | Trustee | 1 | $0 |
Dominic Randolph Board Member | Trustee | 1 | $0 |
Doris Korda Board Member | Trustee | 1 | $0 |
Emily Mccarren Treasurer | OfficerTrustee | 1 | $0 |
Kedra Ishop Board Member | Trustee | 1 | $0 |
Monique Devane Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lanit-tercom Technical Product Development/design | 6/29/21 | $450,919 |
Intentional Futures Transcript Development | 6/29/21 | $429,687 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,376,667 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $126,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $852,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,354,667 |
| Total Program Service Revenue | $37,424 |
| Investment income | $155 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,392,246 |
| 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. | $270,000 |
| Compensation of current officers, directors, key employees. | $189,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,212,523 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129 |
| Fees for services: Accounting | $58,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $368,772 |
| Advertising and promotion | $0 |
| Office expenses | $38,084 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $30,822 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,337 |
| Interest | $10,430 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $492,161 |
| Insurance | $3,857 |
| All other expenses | $0 |
| Total functional expenses | $2,515,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $662,498 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $150,600 |
| 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 | $29,917 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $439,540 |
| Other assets | $0 |
| Total assets | $1,282,555 |
| Accounts payable and accrued expenses | $160,693 |
| Grants payable | $0 |
| Deferred revenue | $261,625 |
| 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 | $334,000 |
| Total liabilities | $756,318 |
| Net assets without donor restrictions | $29,980 |
| Net assets with donor restrictions | $496,257 |
| 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 | $1,282,555 |