Civic Intelligence

The Masters Academy

990 • Fiscal year 2023 • EIN 81-1689040

Jul 01, 2022 to Jun 30, 2023 • Filed on Aug 07, 2023

Organization Profile
120 School DrForest City, NC 28043-3680

(828) 229-3172

Siviq Scores

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

Liabilities / Assets

67th percentile

0.08x

Higher debt load relative to assets than 67% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

48th percentile

0.01x

Higher debt load relative to revenue than 48% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Net Margin

52nd percentile

6.1%

Higher net margin than 52% of similar nonprofits.

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

56th percentile

$0

Higher top officer pay than 56% of similar nonprofits.

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

2023 filings • NTEE B • $500k-$1M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets67th percentile

Assets

$119,740

No earlier filing loaded for comparison.

Net Assets

$110,700

No earlier filing loaded for comparison.

Liabilities

$9,040

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin52nd percentile

Revenue

$949,884

No earlier filing loaded for comparison.

Expenses

$891,954

No earlier filing loaded for comparison.

Net Income

$57,930

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$150K$100K$50K$0-$50KAssets 2023: $119,740Liabilities 2023: $9,040Net Assets 2023: $110,7002023Assets 2024: $41,966Liabilities 2024: $37,978Net Assets 2024: $3,9882024Assets 2025: $40,826Liabilities 2025: $80,684Net Assets 2025: -$39,8582025

Highlighted filing

2023

Assets$119,740
Liabilities$9,040
Net Assets$110,700
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2023: $949,884Expenses 2023: $891,954Net Income 2023: $57,9302023Revenue 2024: $920,995Expenses 2024: $937,615Net Income 2024: -$16,6202024Revenue 2025: $745,896Expenses 2025: $738,808Net Income 2025: $7,0882025

Highlighted filing

2023

Revenue$949,884
Expenses$891,954
Net Income$57,930
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Aug 7, 2023
Return Version
2022v5.0
Gross Receipts
$949,884
Mission and Program Overview

Mission

Nonprofit school providing a forest school, an outdoor school, and a traditional indoor school with a classical curriculum program and extracurriculars.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$95,673-
Land, Buildings, and Equipment, Net-$24,067-
Total Assets$0$119,740▲ $119,740
Liabilities
Accounts Payable and Accrued Expenses-$9,040-
Total Liabilities$0$9,040▲ $9,040
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$110,700-
Total Net Assets Fund Balance$0$110,700▲ $110,700
Total Liabilities and Net Assets / Fund Balance$0$119,740▲ $119,740

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$24,067$373,767$397,834
Compensation and Service Providers
Top Officer Pay56th percentile

Board Members and Trustees

NameTitle
Ed SomervilleChairman
Tami Schultz WatersExecutive Director
Rachel KramerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$10,425
Program Service Revenue
$939,429
Investment Income
$30
Other Revenue
$0
All Other Contributions
$10,425
Change in Net Assets
$57,930
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$779,882
Other Expenses$112,072
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$652,015$72,446-$724,461
Payroll Taxes$49,879$5,542-$55,421
Occupancy$15,085$1,676-$16,761
Depreciation Depletion$10,017--$10,017
Office Expenses$8,637$960-$9,597
Information Technology$7,751$861-$8,612
Insurance$5,581$620-$6,201
Fees for Services Accounting$5,131$570-$5,701
Other Expenses$3,006--$3,006
Advertising$1,029$114-$1,143
Total Functional Expenses$809,165$82,789$0$891,954
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
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

Governance Explanations

Form 990 governing body review Part VI line 11

“The governing body of the school reviews the form 990.”

Conflict of interest policy compliance Part VI line 12C

“The school has a conflict of interest policy and reviews and or monitors it regularly.”

CEO executive director top management comp Part VI line 15A

“Salaries and wages are determined by the governing body of the school using historical pay data, comparative data and personal data about the applicant.”

Other officer or key employee compensation Part VI line 15B

“Salaries and wages are determined by the governing body of the school using historical pay data, comparative data and personal data about the applicant.”

Governing documents etc available to public Part VI line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
The Masters Academy
EIN
81-1689040
Address
120 SCHOOL DR, FOREST CITY, NC 28043-3680

Signing Officer

Name
Tami Schultz Waters
Title
Executive Direc
Phone
8282293172
Signed
2023-08-07
Discuss with paid preparer
No

Organization Details

Formed
2006
Legal Domicile
Nc
Voting Board Members
10
Independent Board Members
10
Employees
35
Volunteers
25

Preparer

Firm
Crystal K Hamrick CPA
Address
124 S BROADWAY ST STE 104, FOREST CITY, NC 28043
Preparer
Crystal K Hamrick CPA
Phone
8282481272
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Opening balance before 501c3 approval and form 990 requirement.”

Raw XML Appendix330 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SALARIES AND WAGES ARE DETERMINED BY THE GOVERNING BODY OF THE SCHOOL USING HISTORICAL PAY DATA, COMPARATIVE DATA AND PERSONAL DATA ABOUT THE APPLICANT.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
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ReturnHeader/Filer/USAddress/AddressLine1Txt0120 SCHOOL DR
ReturnHeader/Filer/USAddress/CityNm0FOREST CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd0280433680
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562148555
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRYSTAL K HAMRICK CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0124 S BROADWAY ST STE 104
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FOREST CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028043
ReturnHeader/PreparerPersonGrp/PhoneNum08282481272
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRYSTAL K HAMRICK CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-08-10T19:06:59-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TAMI
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SCHULTZ WATERS
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$119,740
Liabilities
$9,040
Net assets
$110,700
Revenue
$949,884
Expenses
$891,954
Net income
$57,930
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.41$0.81$0.40$7.46$7.39$0.07
2024Detailed filing. Detailed filing data is available for this year.$0.42$0.38$0.04$9.21$9.38$0.17
2023Detailed filing. Detailed filing data is available for this year.$1.20$0.09$1.11$9.50$8.92$0.58