Civic Intelligence

Masterworks Inc

990EZ • Fiscal year 2022 • EIN 23-2626603

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 29, 2023

185 Millton AveUnion, NJ 07083

(732) 259-4107

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2022

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2022

Net Margin

42nd percentile

-1.8%

Higher net margin than 42% of similar nonprofits.

2022 filings • NTEE Z • <$500k nonprofits • Source year 2022

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • NTEE Z • <$500k nonprofits • Source year 2022

Asset Growth

45th percentile

-3.4%

Faster asset growth than 45% of similar nonprofits.

2022 filings • NTEE Z • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

69th percentile

32%

Faster revenue growth than 69% of similar nonprofits.

2022 filings • NTEE Z • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$35,138

Down $1,228 (-3.4%) from 2021

Net Assets

Down

$35,138

Down $1,228 (-3.4%) from 2021

Liabilities

-

No earlier filing loaded for comparison.

Revenue

Up

$69,630

Up $16,822 (+32%) from 2021

Expenses

Up

$70,856

Up $8,776 (+14%) from 2021

Net Income

Up

-$1,226

Up $8,046 (+87%) from 2021

Historical Trend

Balance Sheet Trend

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

$60K$40K$20K$0Assets 2019: $28,321Liabilities 2019: $6,994Net Assets 2019: $21,3272019Assets 2020: $45,964Liabilities 2020: $326Net Assets 2020: $45,6382020Assets 2021: $36,366Net Assets 2021: $36,3662021Assets 2022: $35,138Net Assets 2022: $35,1382022Assets 2023: $26,954Net Assets 2023: $26,9542023Assets 2024: $42,113Liabilities 2024: $922Net Assets 2024: $41,1912024

Highlighted filing

2022

Assets$35,138
Liabilities-
Net Assets$35,138

Operations Trend

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

$100K$50K$0-$50KRevenue 2019: $54,376Expenses 2019: $47,695Net Income 2019: $6,6812019Revenue 2020: $81,634Expenses 2020: $57,324Net Income 2020: $24,3102020Revenue 2021: $52,808Expenses 2021: $62,080Net Income 2021: -$9,2722021Revenue 2022: $69,630Expenses 2022: $70,856Net Income 2022: -$1,2262022Revenue 2023: $28,558Expenses 2023: $36,742Net Income 2023: -$8,1842023Revenue 2024: $66,082Expenses 2024: $49,724Net Income 2024: $16,3582024

Highlighted filing

2022

Revenue$69,630
Expenses$70,856
Net Income-$1,226
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 29, 2023
Return Version
2022v5.0
Gross Receipts
$69,630
Mission and Program Overview

Mission

Masterworks, inc. Is an organization that comes alongside national and international church leaders to provide in-depth training, spiritual counseling and coaching that will help their congregations learn to operate in their spiritual gifts and calling. Masterworks encourages, trains and certifies others to teach these materials and serve as a spiritual covering by providing licensing and mentoring of pastors and other spiritual leaders throughout the world.

Program Services

DescriptionGrantsExpenses
LEADERSHIP ACADEMY-$61,206
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
DAVID E SCHROEDERChairmanPT$0--
BRIAN T SCHROEDERVice - Chair-$0--
CHRISTINE Y SCHROEDERTreasurerPT$0--
MAJORIE L RANDBoard Member-$0--
FRANKIE PAVIABoard Member-$0--
CYNTHIA WEAVERBoard Member-$0--
JOHN NERGERBoard Member-$0--
DAN REEVEBoard Member-$0--
BRIAN RAWLESBoard Member-$0--
CYNTHIA WILLIAMSBoard Member-$0--
GISELLE LLERANAPresident-$0--
Filing and Contact Details

Filer

Filer Name
Masterworks Inc
EIN
23-2626603
Phone
7322594107
Address
185 MILLTON AVE, UNION, NJ 07083

Signing Officer

Name
David E Schroeder
Title
Chairman
Phone
7322594107
Signed
2023-10-29
Discuss with paid preparer
Yes

Preparer

Firm
Marjorie L Rand CPA Pc
Address
361 ROUTE 31 SUITE 902, FLEMINGTON, NJ 08822
Preparer
Marjorie L Rand CPA
Phone
7328051843
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16

Expenses program promotion 5,125 bank charges 553 equipment & technology 10,524 postage 325 printing & copying 482 supplies 1,576 vendor/consultant 6,714 website 761 caring heart ministries 27,150 meals/ministry 1,984 travel 11,876 translation 3,786 total 70,856

Form 990-ez, Part II, Line 24

Prepaid expenses and deferred charges 0 494 total 0 494

Form 990-ez, Part III

Masterworks, inc. Is an organization that comes alongside national and international church leaders to provide in-depth training, spiritual counseling and coaching that will help their congregations learn to operate in their spiritual gifts and calling. Masterworks encourages, trains and certifies others to teach these materials and serve as a spiritual covering by providing licensing and mentoring of pastors and other spiritual leaders throughout the world.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EXPENSES PROGRAM PROMOTION 5,125 BANK CHARGES 553 EQUIPMENT & TECHNOLOGY 10,524 POSTAGE 325 PRINTING & COPYING 482 SUPPLIES 1,576 VENDOR/CONSULTANT 6,714 WEBSITE 761 CARING HEART MINISTRIES 27,150 MEALS/MINISTRY 1,984 TRAVEL 11,876 TRANSLATION 3,786 TOTAL 70,856
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PREPAID EXPENSES AND DEFERRED CHARGES 0 494 TOTAL 0 494
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MASTERWORKS, INC. IS AN ORGANIZATION THAT COMES ALONGSIDE NATIONAL AND INTERNATIONAL CHURCH LEADERS TO PROVIDE IN-DEPTH TRAINING, SPIRITUAL COUNSELING AND COACHING THAT WILL HELP THEIR CONGREGATIONS LEARN TO OPERATE IN THEIR SPIRITUAL GIFTS AND CALLING. MASTERWORKS ENCOURAGES, TRAINS AND CERTIFIES OTHERS TO TEACH THESE MATERIALS AND SERVE AS A SPIRITUAL COVERING BY PROVIDING LICENSING AND MENTORING OF PASTORS AND OTHER SPIRITUAL LEADERS THROUGHOUT THE WORLD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART III
ReturnHeader/BuildTS02023-04-26 12:10:37Z
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