Nonprofit · EIN 23-2626603
MASTERWORKS INC
Tax-exempt · UNION, NJ 07083
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990-EZ | $106,390 | $83,762 | $22,628 | $65,478 | $1,659 | $63,819 |
| December 31, 2024 | 990-EZ | $66,082 | $49,724 | $16,358 | $42,113 | $922 | $41,191 |
| December 31, 2023 | 990-EZ | $28,558 | $36,742 | -$8,184 | $26,954 | – | $26,954 |
Financial details: 990-EZ for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $106,015
- Program service revenue
- $373
- Investment income
- $2
Expenses
- Grants and similar amounts paid
- $10,000
- Compensation of officers, directors and key employees
- $0
- Other expenses
- $73,762
- Program services (functional)
- $81,645
Balance sheet and other
- Total assets, start of year
- $42,113
- Total assets, end of year
- $65,478
- Total liabilities, end of year
- $1,659
- Net assets, end of year
- $63,819
- Cash, savings and investments
- $65,478
- Gross receipts
- $106,390
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-EZ for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID E SCHROEDER | PRESIDENT | 4 | $0 |
| BRIAN T SCHROEDER | BOARD MEMBER | 0 | $0 |
| MARJORIE L RAND | TREASURER | 0 | $0 |
| FRANKIE PAVIA | CHAIRMAN | 0 | $0 |
| CYNTHIA WEAVER | BOARD MEMBER | 0 | $0 |
| JOHN NERGER | BOARD MEMBER | 0 | $0 |
| DANIEL REEVE | BOARD MEMBER | 0 | $0 |
| BRIAN RAWLES | BOARD MEMBER | 0 | $0 |
| CYNTHIA WILLIAMS | BOARD MEMBER | 0 | $0 |
| GISELLE LLERANA | BOARD MEMBER | 0 | $0 |
990-EZ for the year ended December 31, 2024: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID E SCHROEDER | PRESIDENT | 4 | $0 |
| BRIAN T SCHROEDER | BOARD MEMBER | 0 | $0 |
| MARJORIE L RAND | TREASURER | 0 | $0 |
| FRANKIE PAVIA | CHAIRMAN | 0 | $0 |
| CYNTHIA WEAVER | BOARD MEMBER | 0 | $0 |
| JOHN NERGER | BOARD MEMBER | 0 | $0 |
| DANIEL REEVE | BOARD MEMBER | 0 | $0 |
| BRIAN RAWLES | BOARD MEMBER | 0 | $0 |
| CYNTHIA WILLIAMS | BOARD MEMBER | 0 | $0 |
| GISELLE LLERANA | BOARD MEMBER | 0 | $0 |
990-EZ for the year ended December 31, 2023: 11 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID E SCHROEDER | CHAIRMAN | 0 | $0 |
| BRIAN T SCHROEDER | BOARD MEMBER | 0 | $0 |
| CHRISTINE Y SCHROEDER | BOOKKEEPER | 0 | $0 |
| MAJORIE L RAND | TREASURER | 0 | $0 |
| FRANKIE PAVIA | BOARD MEMBER | 0 | $0 |
| CYNTHIA WEAVER | BOARD MEMBER | 0 | $0 |
| JOHN NERGER | BOARD MEMBER | 0 | $0 |
| DAN REEVE | BOARD MEMBER | 0 | $0 |
| BRIAN RAWLES | BOARD MEMBER | 0 | $0 |
| CYNTHIA WILLIAMS | BOARD MEMBER | 0 | $0 |
| GISELLE LLERANA | PRESIDENT | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 185 MILLTON AVE, UNION, NJ 07083-6730
- In care of
- % DAVID E SCHROEDER
- Mailing address (990-N for 2018)
- 140 Beechwood Avenue, Middlesex NJ 08846
- Principal officer (990-N for 2018)
- David E Schroeder, 140 Beechwood Avenue, Middlesex NJ 08846
- Signed the 990-EZ
- MARJORIE L RAND, TREASURER
- Phone
- (732) 259-4107
- Website
- WWW.MASTERWORKSINC.ORG
- Return prepared by
- MARJORIE L RAND CPA PC
Mission
MASTERWORKS, INC. IS AN ORGANIZATION THAT COMES ALONGSIDE NATIONAL AND INTERNATIONAL CHURCH LEADERS TO PROVIDE IN-DEPTH TRAINING, SPIRITUAL COUNSELING AND COACHING THAT WILL HELP THEIR CONGREGATIONS LEARN TO OPERATE IN THEIR SPIRITUAL GIFTS AND CALLING. MASTERWORKS ENCOURAGES, TRAINS AND CERTIFIES OTHERS TO TEACH THESE MATERIALS AND SERVE AS A SPIRITUAL COVERING BY PROVIDING LICENSING AND MENTORING OF PASTORS AND OTHER SPIRITUAL LEADERS THROUGHOUT THE WORLD.
Program accomplishments
- LEADERSHIP ACADEMYExpenses $81,645 · grants $10,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990-EZ on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 23-2626603
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1995
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Unknown (Z99Z)
- Assets (IRS master file)
- $65,478
- Income (IRS master file)
- $106,390
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-EZ | December 2025 | $106,390 | $83,762 | $65,478 | IRS |
| 990-EZ | December 2024 | $66,082 | $49,724 | $42,113 | IRS |
| 990-EZ | December 2023 | $28,558 | $36,742 | $26,954 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-N for 2018 Officer: David E Schroeder | December 31, 2018 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-2626603).
Questions about MASTERWORKS INC
- What is the EIN of MASTERWORKS INC?
- The employer identification number (EIN) of MASTERWORKS INC is 23-2626603.
- Is MASTERWORKS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.
- Are donations to MASTERWORKS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MASTERWORKS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MASTERWORKS INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MASTERWORKS INC last file with the IRS?
- The latest return in the IRS public files is the 990-EZ for the year ended December 2025.
- Who is the principal officer of MASTERWORKS INC?
- The 990-N for 2018 names David E Schroeder.
- Who are the officers and directors of MASTERWORKS INC?
- The 990-EZ for the year ended December 31, 2025 lists 10 people; 0 received compensation from the organization.
- How much revenue does MASTERWORKS INC have?
- On its 990-EZ for the year ended December 31, 2025 it reported revenue of $106,390, expenses of $83,762 and total assets of $65,478 at year end.
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