Masters Institute

White Bear Lk, MN
Tax-exempt since Aug. 2001
EIN: 41-1999800

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Graduate, Professional Schools (Separate Entities) (NTEE)

Donations to this organization are tax deductible.

Details

According to its June 2025 tax filing, this nonprofit:

Operated a school

Organization is a school. Details are reported on Schedule E.

Revenue

$588k (2025)

Expenses

$358k (2025)

Total Assets

$434k (2025)

Total Liabilities

$27.7k (2025)

Years with missing data

Source: Form 990 tax filings from 2011 to 2025

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2025

Revenue

$587,576

Expenses

$358,434

Net Income

$229,142

Net Assets

$406,790

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$455,861	77.6%
Program Services	$147,525	25.1%
Investment Income	$3,091	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$18,901
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$24,000	6.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$190,733	53.2%

Assets/Debt
Total Assets	$434,468
Total Liabilities	$27,678
Net Assets	$406,790

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Jeremy King (757 Martin Ave, Hudson, Wi 54016)	$24,000	$0	$0
Julie Samuelson (15872 Mid River Rd, Pine City, Mn 55063)	$0	$0	$0
Eric Hulstrand (11255 Lanewood Circle, Eden Prairie, Mn 55344)	$0	$0	$0
Christian Dahl (3030 Riverside Rd, Story City, Ia 50248)	$0	$0	$0
Darrin Vick (2988 Frank Street Maplewood, Mn 55109)	$0	$0	$0
Noah Ruppert (6801 Prairie View Dr Sioux City, Ia 51106)	$0	$0	$0
Steve Perkins (14650 Bowers Drive Ramsey, Mn 55303)	$0	$0	$0
Sandra Miller (1980 Edgewood Drive Owatonna, Mn 55060)	$0	$0	$0

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990

Filed on Oct. 20, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending June
2024

Revenue

$427,964

Expenses

$337,417

Net Income

$90,547

Net Assets

$173,887

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$263,496	61.6%
Program Services	$183,615	42.9%
Investment Income	$372	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$19,519
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$37,700	11.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$178,742	53.0%

Assets/Debt
Total Assets	$204,487
Total Liabilities	$30,600
Net Assets	$173,887

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Per Nilsen (1885 Ivy Hill Drive, Mendota Heights, Mn 55118)	$40,800	$0	$0
Julie Samuelson (15872 Mid River Rd, Pine City, Mn 55063)	$0	$0	$0
Eric Hulstrand (11255 Lanewood Circle, Eden Prairie, Mn 55344)	$0	$0	$0
Christian Dahl (3030 Riverside Rd, Story City, Ia 50248)	$0	$0	$0
Jeremey King (757 Martin Ave, Hudson, Wi 54016)	$0	$0	$0
Noah Ruppert (6801 Prairie View Dr Sioux Falls, Ia 51106)	$0	$0	$0
Steve Perkins (14650 Bowers Drive Ramsey, Mn 55303)	$0	$0	$0
Sandra Miller (1980 Edgewood Drive Owatonna, Mn 55060)	$0	$0	$0
Darrin Vick (2988 Frank Street Maplewood, Mn 55109)	$0	$0	$0

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990

Filed on Jan. 16, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

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Schedules ▼

XML

Fiscal Year Ending June
2023

Revenue

$352,622

Expenses

$329,840

Net Income

$22,782

Net Assets

$87,920

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$216,873	61.5%
Program Services	$157,245	44.6%
Investment Income	$7	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$21,503
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,800	12.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$177,188	53.7%

Assets/Debt
Total Assets	$110,138
Total Liabilities	$22,218
Net Assets	$87,920

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Per Nilsen (1885 Ivy Hill Drive, Mendota Heights, Mn 55118)	$40,800	$0	$0
Julie Samuelson (15872 Mid River Rd, Pine City, Mn 55063)	$0	$0	$0
Eric Hulstrand (11255 Lanewood Circle, Eden Prairie, Mn 55344)	$0	$0	$0
Christian Dahl (3030 Riverside Rd, Story City, Ia 50248)	$0	$0	$0

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990

Filed on Dec. 6, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending June
2022

Revenue

$480,771

Expenses

$368,924

Net Income

$111,847

Net Assets

$67,835

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$357,144	74.3%
Program Services	$157,771	32.8%
Investment Income	$7	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$34,151
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,800	11.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$194,476	52.7%

Assets/Debt
Total Assets	$87,652
Total Liabilities	$19,817
Net Assets	$67,835

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Per Nilsen (1885 Ivy Hill Drive, Mendota Heights, Mn 55118)	$40,800	$0	$0
Julie Samuelson (15872 Mid River Rd, Pine City, Mn 55063)	$0	$0	$0
Eric Hulstrand (11255 Lanewood Circle, Eden Prairie, Mn 55344)	$0	$0	$0
Christian Dahl (3030 Riverside Rd, Story City, Ia 50248)	$0	$0	$0

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990

Filed on May 12, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending June
2021

Revenue

$302,581

Expenses

$347,500

Net Income

-$44,919

Net Assets

-$44,012

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$206,775	68.3%
Program Services	$114,379	37.8%
Investment Income	$23	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$18,596
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,800	11.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$240,006	69.1%

Assets/Debt
Total Assets	$34,685
Total Liabilities	$78,697
Net Assets	-$44,012

Operated a school

Compensation

Key Employees and Officers	Compensation	Related	Other
Per Nilsen (President)	$40,800	$0	$0
Eric Hulstrand (Secretary)	$0	$0	$0
Christian Dahl (Financial Secretary)	$0	$0	$0

990

Filed on Nov. 11, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending June
2020

Revenue

$333,268

Expenses

$372,531

Net Income

-$39,263

Net Assets

$907

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$179,025	53.7%
Program Services	$154,218	46.3%
Investment Income	$25	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,800	11.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$251,428	67.5%

Assets/Debt
Total Assets	$69,724
Total Liabilities	$68,817
Net Assets	$907

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending June
2019

Revenue

$343,286

Expenses

$335,283

Net Income

$8,003

Net Assets

$40,169

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$216,728	63.1%
Program Services	$151,073	44.0%
Investment Income	$21	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$24,536
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$41,800	12.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$211,530	63.1%

Assets/Debt
Total Assets	$65,659
Total Liabilities	$25,490
Net Assets	$40,169

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2018

Revenue

$348,358

Expenses

$308,528

Net Income

$39,830

Net Assets

$31,915

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$152,265	43.7%
Program Services	$175,709	50.4%
Investment Income	$12	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$20,372	5.8%
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,800	13.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$184,977	60.0%

Assets/Debt
Total Assets	$52,841
Total Liabilities	$20,926
Net Assets	$31,915

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2017

Revenue

$274,480

Expenses

$258,902

Net Income

$15,578

Net Assets

$32,829

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$141,179	51.4%
Program Services	$145,246	52.9%
Investment Income	$7	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$11,952
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$40,800	15.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$128,646	49.7%

Assets/Debt
Total Assets	$46,567
Total Liabilities	$13,738
Net Assets	$32,829

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2016

Revenue

$339,822

Expenses

$233,952

Net Income

$105,870

Net Assets

$17,251

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$141,894	41.8%
Program Services	$143,225	42.1%
Investment Income	$9	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$54,694	16.1%
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$33,000	14.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$129,299	55.3%

Assets/Debt
Total Assets	$21,484
Total Liabilities	$4,233
Net Assets	$17,251

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2015

Revenue

$251,027

Expenses

$314,183

Net Income

-$63,156

Net Assets

-$19,387

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$137,310	54.7%
Program Services	$113,662	45.3%
Investment Income	$55	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$30,500	9.7%
Professional Fundraising Fees	$0
Other Salaries and Wages	$175,625	55.9%

Assets/Debt
Total Assets	$14,012
Total Liabilities	$33,399
Net Assets	-$19,387

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2014

Revenue

$376,853

Expenses

$339,679

Net Income

$37,174

Net Assets

$43,769

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$210,455	55.8%
Program Services	$166,305	44.1%
Investment Income	$93	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$31,144	9.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$185,411	54.6%

Assets/Debt
Total Assets	$60,111
Total Liabilities	$16,342
Net Assets	$43,769

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2012

Revenue

$402,673

Expenses

$375,076

Net Income

$27,597

Net Assets

$23,505

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$267,613	66.5%
Program Services	$144,211	35.8%
Investment Income	$25	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$9,176
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$56,386	15.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$183,708	49.0%

Assets/Debt
Total Assets	$54,817
Total Liabilities	$31,312
Net Assets	$23,505

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending June
2011

Revenue

$349,923

Expenses

$368,753

Net Income

-$18,830

Net Assets

-$4,043

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$185,266	52.9%
Program Services	$175,386	50.1%
Investment Income	$9	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	-$10,811
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$73	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$50,868	13.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$182,940	49.6%

Assets/Debt
Total Assets	$32,292
Total Liabilities	$36,335
Net Assets	-$4,043

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

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Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Masters Institute

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $588k (2025)

Expenses $358k (2025)

Total Assets $434k (2025)

Total Liabilities $27.7k (2025)

Tax Filings by Year

Fiscal Year Ending June 2025

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

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Fiscal Year Ending June 2024

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Other

Compensation

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Fiscal Year Ending June 2023

Extracted Financial Data

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Compensation

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Fiscal Year Ending June 2022

Extracted Financial Data

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Compensation

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Fiscal Year Ending June 2021

Extracted Financial Data

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Other

Compensation

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Fiscal Year Ending June 2020

Extracted Financial Data

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Fiscal Year Ending June 2019

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Fiscal Year Ending June 2018

Extracted Financial Data

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Fiscal Year Ending June 2017

Extracted Financial Data

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Fiscal Year Ending June 2016

Extracted Financial Data

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Fiscal Year Ending June 2015

Extracted Financial Data

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Fiscal Year Ending June 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Revenue

$588k (2025)

Expenses

$358k (2025)

Total Assets

$434k (2025)

Total Liabilities

$27.7k (2025)

Fiscal Year Ending June
2025

Fiscal Year Ending June
2024

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

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2020

Fiscal Year Ending June
2019

Fiscal Year Ending June
2018

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2017

Fiscal Year Ending June
2016

Fiscal Year Ending June
2015

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2014

Fiscal Year Ending June
2012

Fiscal Year Ending June
2011

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2010

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2009

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2008

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2007

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2006

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2005

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2004

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2003

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2002

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2001