Who am I again?

I'm having a mid-mid-life crisis. Age: 27. Mode: freak-out.

I've been working at a non-profit association for about five years. I've been moving pretty steadily up the ladder, and felt especially confident in my most recent request for a promotion. I've been working my arse off, thorough work, lots of extra hours, few complaints, if any. And I submitted a solid proposal for my promotion and pay raise.

Honestly, titles don't mean too much to me, but the significant raises never come without a title change here, so I made it a priority. I laid the groundwork, presented my case. It was received very well by HR.... a month ago. Had to wait until my review to get any formal feedback. It turns out the the ED here doesn't think that any kind of promotion or raise is necessary for my current work.

I am so disappointed. I've never worked this hard. Unlike one month ago, I now feel like I'm wasting my time. What should I be doing? Job-hunting? Getting a master's degree? In WHAT, for God's sake? Where am I going? What am I learning? How am I bettering myself?
How can I move forward?

I'm suddenly stagnant and feel the need for a dramatic change, but have few ideas about the direction. Any life coaches out there looking for pro bono work? My head's a mess.