Masters Academy in Chicago, Illinois (IL)
Table of contents:
| Masters Academy | |
| Employer Identification Number (EIN) | 562469097 |
| Name of Organization | Masters Academy |
| In Care of Name | Keith Bethel |
| Address | PO BOX 37845, Chicago, IL 60637 |
| Subsection | Educational Organization |
| Ruling Date | 09/2006 |
| Deductibility | Contributions are deductible |
| Foundation | School |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $1 to $9,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $1,488 |
| Amount of Income | $175,166 |
| Form 990 Revenue Amount | $175,166 |
| National Taxonomy of Exempt Entities (NTEE) | Educational Institutions and Related Activities: Elementary, Secondary Education, K - 12 |
Non-representatives - add comments:
Amount of income in 2013: $175,166 (it was $178,429 in 2012)
| This organization: | $175,166 |
| Other organizations performing similar types of work: | $11,570,202 |
Assets in 2013: $1,488 (it was $2,415 in 2012)
| This organization: | $1,488 |
| Other organizations performing similar types of work: | $20,182,458 |
Expenses in 2013: $176,093
| Masters Academy: | $176,093 |
| Other organizations performing similar types of work: | $10,663,440 |
Income to expenses ratio in 2013: 1.0
| This organization: | 1.0 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2013: 0.0%
| Masters Academy: | 0.0% |
| Other organizations performing similar types of work: | 12.8% |
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $184,389 | $178,429 | $175,166 |
| Contributions, gifts, grants, and similar amounts received | $0 | $178,429 | $0 |
| Program service revenue including government fees and contracts | $184,389 | $0 | $175,166 |
| Membership dues and assessments | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $0 | $0 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 |
| Total expenses | $179,498 | $180,964 | $176,093 |
| Total net assets | $4,950 | $2,415 | $1,488 |
| Excess/Deficit for the year | $4,891 | $-2,535 | $-927 |
| Net assets or fund balances at beginning of year | $59 | $4,950 | $2,415 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $2,415 | $1,488 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $4,950 | $2,415 | $1,488 |
| Total liabilities | $0 | $0 | $0 |
| Net assets or fund balances | $4,950 | $2,415 | $1,488 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | A school described in section 170(b)(1)(A)(ii) |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Latin School Of Chicago | 59 W North Blvd, Chicago, IL 60610-1403 | IL | 1954-10 | $49,996,377 |
| 2 | Francis W Parker School | 330 W Webster Ave, Chicago, IL 60614-3820 | IL | 1932-05 | $33,941,122 |
| 3 | Glenwood School | 500 W 187th St, Glenwood, IL 60425-1317 | IL | 1942-11 | $18,162,594 |
| 4 | Lake Forest Country Day School | 145 S Green Bay Rd, Lake Forest, IL 60045-3053 | IL | 1959-11 | $17,367,943 |
| 5 | Southwest Chicago Christian School Association | 12001 S Oak Park Ave, Palos Heights, IL 60463-1687 | IL | 1989-05 | $9,042,747 |
| 6 | Chicago Futabakai Japanese School | 2550 N Arlington Heights Rd, Arlington Hts, IL 60004-2531 | IL | 1967-07 | $3,356,408 |
| 7 | Ronald Knox Montessori School | 2031 Elmwood Ave, Wilmette, IL 60091-1431 | IL | 1968-06 | $2,831,305 |
| 8 | Montessori Elementary School Of Champaign-Urbana | Champaign, IL 61821 | IL | $168,621 | |
| 9 | Imagine Schools Non-Profit Inc | 1005 N Glebe Rd Ste 610, Arlington, VA 22201-5758 | VA | 2012-06 | $87,332,731 |
| 10 | Texas Migrant Council Inc, Tmc | 5215 Mcpherson Rd, Laredo, TX 78041-7324 | TX | 1988-06 | $76,392,244 |
| 11 | Walnut Hill School For The Arts | 12 Highland St, Natick, MA 01760-2140 | MA | 1961-01 | $27,169,877 |
| 12 | Aplus Charter Schools Inc | 8225 Bruton Rd, Dallas, TX 75217-1903 | TX | 1999-06 | $19,578,252 |
| 13 | Waynflete School | 360 Spring St, Portland, ME 04102-3643 | ME | 1943-02 | $17,754,153 |
| 14 | Academy For Urban Leadership Charter High School | 401 Hall Ave, Perth Amboy, NJ 08861-3204 | NJ | 2013-09 | $6,496,582 |
| 15 | Prairie Crossing Charter School | 1571 Jones Point Rd, Grayslake, IL 60030-3536 | IL | 1999-07 | $4,225,585 |
| 16 | Parent Cooperative For Early Learning Inc | 5300 S Shore Dr, Chicago, IL 60615-5750 | IL | 1976-05 | $604,462 |
| 17 | Urban Prairie | 1601 S Halsted St Ste C4, Chicago, IL 60608-4681 | IL | 2009-07 | $549,582 |
| 18 | Weekday Childrens Center | 300 E Gartner Rd, Naperville, IL 60540-7424 | IL | 1994-09 | $336,066 |
| 19 | South Harper Montessori School Inc | 8358 S Stony Island Ave, Chicago, IL 60617-1759 | IL | 1976-07 | $262,484 |
| 20 | Mason County Farm Bureau Foundation | 127 SOUTH HIGH STREET PO BOX 318, Havana, IL 62644 | IL | 2001-07 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 579 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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