Civic Intelligence

The Masters Study Inc

990 • Fiscal year 2024 • EIN 06-1643567

Jul 01, 2023 to Jun 30, 2024 • Filed on Aug 26, 2024

Organization ProfileWWW.THEMASTERSSTUDY.ORG
2606 W 96th StreetIndianapolis, IN 46268

(317) 361-3964

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.02x

Higher debt load relative to assets than 68% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

63rd percentile

0.01x

Higher debt load relative to revenue than 63% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

45th percentile

0.9%

Higher net margin than 45% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$1,600

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

52nd percentile

2.1%

Faster asset growth than 52% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

56th percentile

7.5%

Faster revenue growth than 56% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$164,201

Up $3,321 (+2.1%) from 2023

Net Assets

Up

$161,360

Up $4,092 (+2.6%) from 2023

Liabilities

Down

$2,841

Down $771 (-21%) from 2023

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin45th percentile

Revenue

Up

$457,523

Up $31,994 (+7.5%) from 2023

Expenses

Up

$453,431

Up $46,021 (+11%) from 2023

Net Income

Down

$4,092

Down $14,027 (-77%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth52nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200K$150K$100K$50K$0Assets 2010: $36,893Liabilities 2010: $2Net Assets 2010: $36,8912010Assets 2011: $63,482Liabilities 2011: $916Net Assets 2011: $62,5662011Assets 2012: $93,821Liabilities 2012: $350Net Assets 2012: $93,4712012Assets 2013: $103,343Liabilities 2013: $207Net Assets 2013: $103,1362013Assets 2014: $140,363Liabilities 2014: $247Net Assets 2014: $140,1162014Assets 2015: $130,097Liabilities 2015: $288Net Assets 2015: $129,8092015Assets 2016: $160,812Liabilities 2016: $321Net Assets 2016: $160,4912016Assets 2017: $168,136Liabilities 2017: $3,499Net Assets 2017: $164,6372017Assets 2018: $120,212Liabilities 2018: $0Net Assets 2018: $120,2122018Assets 2019: $120,242Liabilities 2019: $0Net Assets 2019: $120,2422019Assets 2020: $108,659Liabilities 2020: $0Net Assets 2020: $108,6592020Assets 2021: $109,543Liabilities 2021: $0Net Assets 2021: $109,5432021Assets 2022: $140,754Liabilities 2022: $1,605Net Assets 2022: $139,1492022Assets 2023: $160,880Liabilities 2023: $3,612Net Assets 2023: $157,2682023Assets 2024: $164,201Liabilities 2024: $2,841Net Assets 2024: $161,3602024Assets 2025: $177,602Liabilities 2025: $7,268Net Assets 2025: $170,3342025

Highlighted filing

2024

Assets$164,201
Liabilities$2,841
Net Assets$161,360
Open 2024 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2010: $117,149Expenses 2010: $103,686Net Income 2010: $13,4632010Revenue 2011: $148,177Expenses 2011: $122,502Net Income 2011: $25,6752011Expenses 2012: $186,8962012Revenue 2013: $311,748Expenses 2013: $302,083Net Income 2013: $9,6652013Revenue 2014: $408,057Expenses 2014: $371,077Net Income 2014: $36,9802014Revenue 2015: $423,453Expenses 2015: $433,760Net Income 2015: -$10,3072015Revenue 2016: $564,071Expenses 2016: $533,389Net Income 2016: $30,6822016Revenue 2017: $546,978Expenses 2017: $542,832Net Income 2017: $4,1462017Revenue 2018: $540,900Expenses 2018: $585,325Net Income 2018: -$44,4252018Revenue 2019: $405,799Expenses 2019: $405,769Net Income 2019: $302019Revenue 2020: $371,629Expenses 2020: $383,212Net Income 2020: -$11,5832020Revenue 2021: $405,772Expenses 2021: $404,888Net Income 2021: $8842021Revenue 2022: $415,353Expenses 2022: $385,747Net Income 2022: $29,6062022Revenue 2023: $425,529Expenses 2023: $407,410Net Income 2023: $18,1192023Revenue 2024: $457,523Expenses 2024: $453,431Net Income 2024: $4,0922024Revenue 2025: $493,149Expenses 2025: $484,175Net Income 2025: $8,9742025

Highlighted filing

2024

Revenue$457,523
Expenses$453,431
Net Income$4,092
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Aug 26, 2024
Return Version
2023v5.1
Gross Receipts
$457,523
Mission and Program Overview

Mission

Classical christian education school providing a supplemental tutelage, private educational program including art, latin, fine arts, history, writing, etc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$157,268$161,360▲ $4,092
Savings and Temporary Cash Investments$134,045$135,469▲ $1,424
Cash and Non-Interest-Bearing Accounts$25,109$27,809▲ $2,700
Accounts Receivable$1,726$717▼ $1,009
Prepaid Expenses and Deferred Charges$0$206▲ $206
Total Assets$160,880$164,201▲ $3,321
Liabilities
Accounts Payable and Accrued Expenses$270$2,821▲ $2,551
Deferred Revenue$3,342$20▼ $3,322
Total Liabilities$3,612$2,841▼ $771
Net Assets / Fund Balance
Total Net Assets Fund Balance$157,268$161,360▲ $4,092
Total Liabilities and Net Assets / Fund Balance$160,880$164,201▲ $3,321

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$0---$0
2022$0---$0
2021$0---$0
2020$0---$0
2019$0---$0
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
-President
-Vice President
-Director
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,042
Program Service Revenue
$454,058
Investment Income
$423
Other Revenue
$0
All Other Contributions
$3,000
Change in Net Assets
$4,092
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$358,624
Other Expenses$91,142
Grants and Similar Amounts Paid$3,665
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$254,297$75,690$0$329,987
Payroll Taxes$20,865$6,172$0$27,037
Information Technology$14,956$645$0$15,601
All Other Expenses$11,995$2,081$0$14,076
Fees for Services Other$12,950$0$0$12,950
Insurance$4,580$350$0$4,930
Grants to Domestic Individuals$3,665--$3,665
Occupancy$0$2,856$0$2,856
Current Officers, Directors, Trustees, and Key Employees$1,600$0$0$1,600
Fees for Services Accounting$0$1,460$0$1,460
Other Expenses$1,439$0$0$1,439
Conferences and Meetings$1,178$0$0$1,178
Advertising$147$0$0$147
Total Functional Expenses$363,545$89,886$0$453,431
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The Masters Study Inc
EIN
06-1643567
Phone
3173613964
Address
2606 W 96TH STREET, INDIANAPOLIS, IN 46268

Signing Officer

Name
John Keller
Title
Treasurer
Phone
3173613964
Signed
2024-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Keller
Formed
2002
Legal Domicile
In
Voting Board Members
9
Independent Board Members
9
Employees
53
Volunteers
54

Preparer

Firm
Douglas A Latham CPA
Address
17520 Dartown Road 610, Westfield, IN 46074
Preparer
Douglas a Latham
Phone
3174792061
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Form 990 was shared and reviewed via private extranet portal by all board members prior to filing”

Pt VI, Line 15A

“Compensation is compared with other leadership positions at similar schools”

Pt VI, Line 15B

“Compensation is compared with other leadership positions at similar schools”

Pt VI, Line 19

“Financial statements and form 990 are available to the public upon request.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ReconcilationRevenueExpnssAmt04092
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0454058
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0157268
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0161360
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0134045
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0135469
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt00
IRS990ScheduleD/DisclosedForCharitablePrpsInd0true
IRS990ScheduleD/DisclosedOrgLegCtrlInd0true
IRS990ScheduleD/DonorAdvisedFundsContriAmt02082
IRS990ScheduleD/DonorAdvisedFundsGrantsAmt03665
IRS990ScheduleD/DonorAdvisedFundsHeldCnt02
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt01432
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE MASTERS STUDY, INC. PUBLISHES ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS WEBSITE THROUGHOUT THE WHOLE YEAR AND WAS ALSO SPECIFICALLY SENT VIA INTERNAL CANVAS SITE MESSAGING ON 8/1/23 AND 8/1/24. SEE PREVIOUS EXPLANATION ON PRIOR PAGE
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 WAS SHARED AND REVIEWED VIA PRIVATE EXTRANET PORTAL BY ALL BOARD MEMBERS PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION IS COMPARED WITH OTHER LEADERSHIP POSITIONS AT SIMILAR SCHOOLS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION IS COMPARED WITH OTHER LEADERSHIP POSITIONS AT SIMILAR SCHOOLS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0457523
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0164201
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02606 W 96TH STREET
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046268
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.THEMASTERSSTUDY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN KELLER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03173613964
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE MASTERS STUDY INC
ReturnHeader/Filer/BusinessNameControlTxt0MAST

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$164,201
Liabilities
$2,841
Net assets
$161,360
Revenue
$457,523
Expenses
$453,431
Net income
$4,092
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$0.07$1.70$4.93$4.84$0.09
2024Detailed filing. Detailed filing data is available for this year.$1.64$0.03$1.61$4.58$4.53$0.04
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.61$0.04$1.57$4.26$4.07$0.18
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$0.02$1.39$4.15$3.86$0.30
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.00$1.10$4.06$4.05$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.09$0.00$1.09$3.72$3.83$0.12
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.20$0.00$1.20$4.06$4.06$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.00$1.20$5.41$5.85$0.44
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.03$1.65$5.47$5.43$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.61$0.00$1.60$5.64$5.33$0.31
2015Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.30$4.23$4.34$0.10
2014Detailed filing. Detailed filing data is available for this year.$1.40$0.00$1.40$4.08$3.71$0.37
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.03$0.00$1.03$3.12$3.02$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.00$0.93$1.87
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.63$0.01$0.63$1.48$1.23$0.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.00$0.37$1.17$1.04$0.13
Peer Organizations

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