Civic Intelligence

Masterworks Inc

990EZ • Fiscal year 2023 • EIN 23-2626603

Jan 01, 2023 to Dec 31, 2023 • Filed on May 04, 2024

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 2023

Liabilities / Revenue

Score unavailable

No value available

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

Source year 2023

Net Margin

23rd percentile

-29%

Higher net margin than 23% of similar nonprofits.

2023 filings • NTEE Z • <$500k nonprofits • Source year 2023

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

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

2023 filings • NTEE Z • <$500k nonprofits • Source year 2023

Asset Growth

22nd percentile

-23%

Faster asset growth than 22% of similar nonprofits.

2023 filings • NTEE Z • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

10th percentile

-59%

Faster revenue growth than 10% of similar nonprofits.

2023 filings • NTEE Z • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$26,954

Down $8,184 (-23%) from 2022

Net Assets

Down

$26,954

Down $8,184 (-23%) from 2022

Liabilities

-

No earlier filing loaded for comparison.

Revenue

Down

$28,558

Down $41,072 (-59%) from 2022

Expenses

Down

$36,742

Down $34,114 (-48%) from 2022

Net Income

Down

-$8,184

Down $6,958 (-568%) from 2022

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

2023

Assets$26,954
Liabilities-
Net Assets$26,954

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

2023

Revenue$28,558
Expenses$36,742
Net Income-$8,184
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 4, 2024
Return Version
2023v5.0
Gross Receipts
$28,558
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-$35,314
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
DAVID E SCHROEDERChairman-$0--
BRIAN T SCHROEDERBoard Member-$0--
CHRISTINE Y SCHROEDERBookkeeper-$0--
MAJORIE L RANDTreasurer-$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
2024-05-04
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 12,594 bank charges 408 equipment & technology 1,956 office expense 750 professional fees 270 website 416 caring heart ministries 13,109 meals/ministry 2,982 travel 4,257 total 36,742

Form 990-ez, Part II, Line 24

Prepaid expenses and deferred charges 494 958 total 494 958

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 12,594 BANK CHARGES 408 EQUIPMENT & TECHNOLOGY 1,956 OFFICE EXPENSE 750 PROFESSIONAL FEES 270 WEBSITE 416 CARING HEART MINISTRIES 13,109 MEALS/MINISTRY 2,982 TRAVEL 4,257 TOTAL 36,742
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PREPAID EXPENSES AND DEFERRED CHARGES 494 958 TOTAL 494 958
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
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