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The@masters Academy

Tax-deductible

Forest City, NC501(c)(3)EducationEIN 81-1689040Revenue $746K in FY2025

On file with the IRS120 School Dr, 28043-6506 · Forest City, NCTax-exempt since May 2023School — 170(b)(1)(A)(ii)

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

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 25 volunteers and 35 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $16K a year · 2% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $18K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$81K
198% of total assets
Concern: liabilities are 198% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$746K
-19% vs prior year
Spent
$739K
To programs
90%
Net assets
−$40K
By yearFY2023–FY2025
Revenue
$746K
FY2025▼ -19%
Tap a bar for its year
Revenue by fiscal year
FY2023$950K
FY2024$921K
FY2025$746K
Expenses
$739K
FY2025▼ -21%
Tap a bar for its year
Expenses by fiscal year
FY2023$892K
FY2024$938K
FY2025$739K
Net assets
−$40K
FY2025▼ -1099%
Tap a bar for its year
Net assets by fiscal year
FY2023$111K
FY2024$4K
FY2025−$40K

From the FY2025 Form 990 (year ending June 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2023.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $668K Management & general 10% · $70K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Mike Connor
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Tammy Waters
Treasurer
$0Pt VII · Sec A
Caron Moreno
Head of School
$0Pt VII · Sec A
See The@masters Academy executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers forest, outdoor, and traditional indoor schooling with a classical curriculum and extracurriculars.

Questions for The@masters Academy

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Provided by the organization

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1 program · $668K · in their own filed words · FY2024
01

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

$668Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Amsler Family FoundationFY2024$18K
Total grants receivedfrom 1 funder$18K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$746K
Ln 12
Fees for servicesLn 2g$723K
Gifts and grantsLn 1h$23K
Investment incomeLn 3$91
Money outPt IX
$739K
Ln 25
Programscol B$668K
Managementcol C$70K
Owns and owesPt X
−$40K
net assets · Ln 32
Cash and savingsLn 1–2$41K
Total assetsLn 16$41K
LiabilitiesLn 26$81K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23K
Fees for servicesLn 2g$723K
Investment incomeLn 3$91
Total revenueLn 12$746K
Assets in detailPt X, end of year
CashLn 1$41K
Cash and savings togetherLn 1–2$41K
Total assetsLn 16$41K
LiabilitiesLn 26$81K
Net assetsLn 32−$40K
OperationsPt I, VI
EmployeesI 535
VolunteersI 625
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$42K$41K
Total assetsLn 16$42K$41K
LiabilitiesLn 26$38K$81K
Net assetsLn 32$4K−$40K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$555K$499K$55K
Payroll taxesLn 10$79K$71K$8K
Accounting feesLn 11c$10K$9K$1K
Other fees for servicesLn 11g$3K$3K$313
Office expensesLn 13$4K$4K$409
Information technologyLn 14$14K$13K$1K
OccupancyLn 16$26K$23K$3K
InsuranceLn 23$8K$8K$845
Other expenses (24a–d)Ln 24$39K$39K$408
Total functional expensesLn 25$739K$668K$70K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $746K$739K$7K−$40K 990 PDF
FY2024 $921K$938K−$17K$4K 990 PDF
FY2023 $950K$892K$58K$111K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $745,896 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,184$22,986
I-9 Program service revenuePrior year $918,637$722,819
I-10 Investment incomePrior year $174$91
I-11 Other revenue$0
I-12 Total revenuePrior year $920,995$745,896
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $775,086$633,830
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $162,529$104,978
I-18 Total expensesPrior year $937,615$738,808
I-19 Revenue less expensesPrior year −$16,620$7,088
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $745,896 across 6 lines filed
VIII-1f All other contributions, gifts and grants$22,986
VIII-1h Total contributions, gifts and grants$22,986
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $722,819$722,819
VIII-3 Investment incomeRelated to mission $91$91
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $722,910 · Unrelated business $0 · Excluded from tax $0$745,896
Part IX · Statement of functional expenses $738,808 across 9 lines filed
IX-7 Other salaries and wagesPrograms $499,177 · Management $55,464$554,641
IX-10 Payroll taxesPrograms $71,270 · Management $7,919$79,189
IX-11c Accounting feesPrograms $9,055 · Management $1,006$10,061
IX-11g Other fees for servicesPrograms $2,815 · Management $313$3,128
IX-13 Office expensesPrograms $3,683 · Management $409$4,092
IX-14 Information technologyPrograms $12,878 · Management $1,431$14,309
IX-16 OccupancyPrograms $23,089 · Management $2,566$25,655
IX-23 InsurancePrograms $7,604 · Management $845$8,449
IX-24 Other expenses (24a–d)Programs $38,876 · Management $408$39,284
IX-25 Total functional expensesPrograms $668,447 · Management $70,361 · Fundraising $0$738,808
Part X · Balance sheet $40,826 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $41,966$40,826
X-16 Total assetsStart of year $41,966$40,826
X-17 Accounts payable and accrued expensesStart of year $37,978$40,684
X-24 Unsecured notes and loans payable$40,000
X-26 Total liabilitiesStart of year $37,978$80,684
X-27 Net assets without donor restrictionsStart of year $3,988−$39,858
X-32 Total net assets or fund balancesStart of year $3,988−$39,858
X-33 Total liabilities and net assetsStart of year $41,966$40,826
Part XI · Reconciliation of net assets −$39,858 net assets at year end
XI-1 Total revenue$745,896
XI-2 Total expenses$738,808
XI-3 Revenue less expenses$7,088
XI-4 Net assets at start of year$3,988
XI-8 Prior period adjustments−$50,934
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$39,858

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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