The Masters Study Inc

Nonprofit profile at a glance

EIN
061643567
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-EZ 2010
Location
Indianapolis, IN, USA
Phone
3173613964
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Primary, Elementary Schools
Affiliation
Christianity

Official website

Reported finances

Revenue
$493,149
Expenses
$484,175
Assets
$177,602
Liabilities
$7,268

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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

What it reported doing in 2024

Conduct classes for 250 children from pre-k through high school - history, art, choir, drama, literature, writing, chemistry, physics, mathematics, rhetoric, logic, finance and languages.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 89
  • Accountability: 76
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.4%; rating input score 78
  • Program expense ratio: 79.9%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.8%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 4.9% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 78.4% of revenue deployed · 79.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $387K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.