Masters School
Masters School reported $66.1 million in revenue and $55.3 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $83.93 went to program services, $12.07 to management and general costs and $4.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 67.9% of the total. The highest compensation it reported for one person was $1,007,226 (HEAD OF SCHOOL). 62 people received more than $100,000 in reportable compensation. Revenue rose 9% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $55MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $66MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 83.9% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 12.1% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.0% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.14 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 23.5% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 67.9% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,007,226 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.82% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 62 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 43.0 | 13.3 |
| Independent voting board members Part VI 1a–1b | 21 of 21 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseThe Masters School is an independent day and boarding school, for students in grades 5 through 12, that empowers independent thinkers through an expansive and innovative curriculum based on active intellectual exploration. Located on 96 picturesque acres on the hudson river and just 12 miles from the vast resources of new york city, the school is a diverse and vibrant convergence of ideas, cultures, arts and athletics.in a kind and inclusive culture, where diversity of thought is celebrated, students can confidently find their own voices in discussion-based classes, while gaining a deeper…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| HEAD OF SCHOOL Officer, 40.00 hrs/week | $722,056 | $0 | $285,170 | $1,007,226 |
| ASSOC. HEAD OF SCHOOL, INST. ADVANCEMENT Highest compensated employee, 40.00 hrs/week | $312,678 | $0 | $49,638 | $362,316 |
| ASSOC. HEAD FOR FINAC. & OPERAT. Officer, 40.00 hrs/week | $303,386 | $0 | $58,058 | $361,444 |
| ASSOC. HEAD FOR FACULTY & ACADEMICS Highest compensated employee, 40.00 hrs/week | $194,230 | $0 | $58,246 | $252,476 |
| HEAD OF MIDDLE SCHOOL Highest compensated employee, 40.00 hrs/week | $190,984 | $0 | $40,188 | $231,172 |
| DIRECTOR OF OPERATIONS Highest compensated employee, 40.00 hrs/week | $192,064 | $0 | $32,953 | $225,017 |
| ASSOC. HEAD FOR ENROLL. & STRAT. Highest compensated employee, 40.00 hrs/week | $197,676 | $0 | $16,413 | $214,089 |
62 people received more than $100,000 in reportable compensation from Masters School (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.8M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b21 · 21 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5255
- Volunteers Part I, line 621
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| MARVEL ARCHITECTS PLLC Architect services | $1,368,186 |
| COMMUNITY COUNSELLING SERVICE CO LLC Consulting | $704,375 |
| VENABLE LLP Legal service | $173,831 |
| EASY BUS LLC Travel services | $136,800 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Private foundation grants it received
30 private foundations reported grants to Masters School totaling $1.9M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Masters School's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Masters School, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Masters School spent in FY2025, $83.93 went to programs. The full breakdown, from its IRS Form 990:
Embed on your site
Similar-sized charities in this cause
- EdnovateLos Angeles, CA · revenue $66M · programs 88.0% · FY2025
- Tabor AcademyMarion, MA · revenue $66M · programs 78.0% · FY2025
- University of Iowa Strategic Initiatives FundIowa City, IA · revenue $66M · programs 98.7% · FY2025
- Bullis SchoolPotomac, MD · revenue $66M · programs 84.3% · FY2025
- Grand View UniversityDes Moines, IA · revenue $66M · programs 86.0% · FY2025
Questions people ask
How much of Masters School's spending goes to programs?
In the fiscal year ending June 30, 2025, Masters School reported that 83.9% of its $55.3 million in expenses went to program services, 12.1% to management and general and 4.0% to fundraising (Form 990, Part IX).
How much does Masters School pay its top executive?
The largest total compensation Masters School reported for one person in the fiscal year ending June 30, 2025 was $1,007,226, for the role of HEAD OF SCHOOL (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Masters School get its money?
Of $66.1 million in revenue in the fiscal year ending June 30, 2025, 23.5% came from contributions and grants and 67.9% from program service revenue (Form 990, Part VIII).
Is Masters School a registered charity?
The IRS lists EIN 13-1740472 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202631149349301858 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202531349349311563 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202440939349300219 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202341359349309664 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241309349302189 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111329349304291 · read the filing
All filings for EIN 13-1740472: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.