New York · Nonprofit
MASTERS SCHOOL
MASTERS SCHOOL (New York) receives grants from 108 organizations whose IRS filings report $46,984,418 to it, the largest being DIANA DAVIS SPENCER FOUNDATION INC ($28,325,000). 64 of them have funded it in more than one year.
- Revenue FY2025
- $66M
- Funders on record
- 108
- Grants received
- $47M
- Net assets
- $198M
What Masters School does
Mission
The Masters School celebrates active participation, deep understanding, and meaningful connection. A community of diverse individuals, we gather to learn, to strive, to dare, to do - to be a power for good in the world.
As stated on its FY2025 Form 990.
Program
The 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, broader understanding of the subject matter and each other. Much like the curriculum at a liberal arts college, masters' curriculum imparts a broad knowledge to students and develops their intellectual capacities in a transformational way. Masters is distinguished by its novel approach of using the harkness method of teaching around a singular, oval table for all main subject areas. Harkness challenges students to achieve a higher level of engagement, to extract and construct their own meaning from the content, and then to share it courageously and articulately with their peers and teachers…
$46,411,818 spentof which $8,753,910 as grants$44,948,395 earned by the program100% of program spending
The program described on its FY2024 Form 990. Program spending in total: $46,411,818.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2024 to 2025, from $219M to $239M (+9%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2023 2%. Grants only. Government contracts and fees sit inside program revenue.
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 0 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Who funds it, year by year
2017 → 2023: the base broadened from 37 funders to 45 funders, grant income rose $804k → $3.5M.
22 of 108 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 17% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of MASTERS SCHOOL’s funders (the co-funder graph). Top 30 of 108 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
MASTERS SCHOOL leans on a few funders — its largest provides 60% of grant income and the top three 73%; half comes from just 1 funder.
the vertical line marks half of all grant income — 1 funder to its left
Largest funder’s share by year: 2017 28% · 2018 33% · 2019 23% · 2020 81% · 2021 22% · 2022 83% · 2023 21% — diversifying over time.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
45% of MASTERS SCHOOL's funders are still giving 3 years after their first grant; 59% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
MASTERS SCHOOL draws 91% of its grant income from funders outside New York, across 23 states in all.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $8.1M arriving through sponsors registered in 14 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Organizations like MASTERS SCHOOL
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In New York
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
84% of spending goes to programs.
Governance
Screen this organization
A dated, signed PDF of the compliance screen for MASTERS SCHOOL: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds MASTERS SCHOOL?
- MASTERS SCHOOL (New York) receives grants from 108 organizations whose IRS filings report $46,984,418 to it, the largest being DIANA DAVIS SPENCER FOUNDATION INC ($28,325,000). 64 of them have funded it in more than one year.
- How many funders does MASTERS SCHOOL have?
- IRS filings report 108 organizations giving $46,984,418 in grants to MASTERS SCHOOL, 64 of which have funded it in more than one year.
- Who is the largest funder of MASTERS SCHOOL?
- DIANA DAVIS SPENCER FOUNDATION INC is the largest funder on record, with $28,325,000 in grants. The full list of funders is on this page.
- How can an organization like MASTERS SCHOOL find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in New York. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Masters School →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 108 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing