Heritage Academy Inc
- Assets
- $600.4k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 40
- Location
- Hagerstown, MD
- Founding
- 05/1969
- Data as of
- 06/2023
- EIN
- 52-0889149
Organization Overview
Heritage Academy Inc is located in Hagerstown, MD. The organization was established in 1969. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2023, Heritage Academy Inc employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Academy Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Heritage Academy Inc generated $1.2m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 6.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF A CHRISTIAN SCHOOL WITH APPROXIMATELY 225 STUDENTS K4-12
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SERVICES PROVIDED TO APPROXIMATELY 235 STUDENTS K4-12
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Travis Hendershot President | OfficerTrustee | 4 | $0 |
Bobbie Shank Sr Director | OfficerTrustee | 2 | $0 |
Frank Pereira Secretary | OfficerTrustee | 2 | $0 |
Mary Horst Director | OfficerTrustee | 2 | $0 |
Steve Lescalleet Treasurer | OfficerTrustee | 2 | $0 |
Pete Mcmillin Director | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,298 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,298 |
| Total Program Service Revenue | $1,126,044 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $303 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $19,364 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,226,009 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $799,619 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,780 |
| Payroll taxes | $60,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,645 |
| Office expenses | $19,388 |
| Information technology | $14,113 |
| Royalties | $0 |
| Occupancy | $68,325 |
| Travel | $2,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,486 |
| Insurance | $18,783 |
| All other expenses | $11,010 |
| Total functional expenses | $1,135,369 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $203,666 |
| Savings and temporary cash investments | $219,959 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $324 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,466 |
| Net Land, buildings, and equipment | $173,010 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $600,425 |
| Accounts payable and accrued expenses | $1,899 |
| Grants payable | $0 |
| Deferred revenue | $59,689 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $56,959 |
| Total liabilities | $118,547 |
| Net assets without donor restrictions | $481,878 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $600,425 |