Civic Intelligence

The Masters Academy

990 • Fiscal year 2025 • EIN 81-1689040

Jul 01, 2024 to Jun 30, 2025 • Filed on Nov 17, 2025

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

98th percentile

1.98x

Higher debt load relative to assets than 98% of similar nonprofits.

2025 filings • NTEE B • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

73rd percentile

0.11x

Higher debt load relative to revenue than 73% of similar nonprofits.

2025 filings • NTEE B • $500k-$1M nonprofits • Source year 2025

Net Margin

38th percentile

1.0%

Higher net margin than 38% of similar nonprofits.

2025 filings • NTEE B • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2025 filings • NTEE B • $500k-$1M nonprofits • Source year 2025

Asset Growth

30th percentile

-2.7%

Faster asset growth than 30% of similar nonprofits.

2025 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

17th percentile

-19%

Faster revenue growth than 17% of similar nonprofits.

2025 filings • NTEE B • $500k-$1M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$40,826

Down $1,140 (-2.7%) from 2024

Net Assets

Down

-$39,858

Down $43,846 (-1099%) from 2024

Liabilities

Up

$80,684

Up $42,706 (+112%) from 2024

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin38th percentile

Revenue

Down

$745,896

Down $175,099 (-19%) from 2024

Expenses

Down

$738,808

Down $198,807 (-21%) from 2024

Net Income

Up

$7,088

Up $23,708 (+143%) from 2024

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

2025

Assets$40,826
Liabilities$80,684
Net Assets-$39,858
Open 2025 Filing

Operations Trend

Revenue Growth17th percentile

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

2025

Revenue$745,896
Expenses$738,808
Net Income$7,088
Open 2025 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$745,896
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$41,966$40,826▼ $1,140
Total Assets$41,966$40,826▼ $1,140
Liabilities
Accounts Payable and Accrued Expenses$37,978$40,684▲ $2,706
Unsecured Notes Loans Payable-$40,000-
Total Liabilities$37,978$80,684▲ $42,706
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,988$-39,858▼ $43,846
Total Net Assets Fund Balance$3,988$-39,858▼ $43,846
Total Liabilities and Net Assets / Fund Balance$41,966$40,826▼ $1,140

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$397,834$397,834
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Mike ConnorChairman
Caron MorenoHead of School
Ed SommervilleSecretary
Tammy WatersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$22,986
Program Service Revenue
$722,819
Investment Income
$91
Other Revenue
$0
All Other Contributions
$22,986
Change in Net Assets
$7,088
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$633,830
Other Expenses$104,978
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$499,177$55,464-$554,641
Payroll Taxes$71,270$7,919-$79,189
Occupancy$23,089$2,566-$25,655
Information Technology$12,878$1,431-$14,309
Fees for Services Accounting$9,055$1,006-$10,061
Insurance$7,604$845-$8,449
Office Expenses$3,683$409-$4,092
Other Expenses$3,672$408-$4,080
Fees for Services Other$2,815$313-$3,128
Total Functional Expenses$668,447$70,361$0$738,808
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
In Care Of
% CARON B MORENO
Phone
8282293172
Address
120 SCHOOL DR, FOREST CITY, NC 28043-3680

Signing Officer

Name
Caron B Moreno
Title
Head of School
Phone
8282293172
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

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

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

“Continued clean up from software conversion.”

Raw XML Appendix345 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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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE ACADEMY RECEIVED TUITION SUPPORT FROM THE NC STATE EDUCATION ASSISTANCE AUTHORITYESA $88,843OPPORTUNITY SCHOLARSHIPS $451,169ACT $345TOTAL RECEIVED $540,357
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY OF THE SCHOOL REVIEWS THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL HAS A CONFLICT OF INTEREST POLICY AND REVIEWS AND OR MONITORS IT REGULARLY.
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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARIES AND WAGES ARE DETERMINED BY THE GOVERNING BODY OF THE SCHOOL USING HISTORICAL PAY DATA, COMPARATIVE DATA AND PERSONAL DATA ABOUT THE APPLICANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTINUED CLEAN UP FROM SOFTWARE CONVERSION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BusinessOfficerGrp/PersonNm0CARON B MORENO
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ReturnHeader/BusinessOfficerGrp/PhoneNum08282293172
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-17
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ReturnHeader/ReturnTs02025-12-15T19:42:04-05:00
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ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$40,826
Liabilities
$80,684
Net assets
-$39,858
Revenue
$745,896
Expenses
$738,808
Net income
$7,088
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