Heritage Academy Inc
- Assets
- $19.7m
- Revenue
- $15.0m
- Investments
- $0.0
- Employees
- 237
- Location
- Mesa, AZ
- Founding
- 08/2016
- Data as of
- 06/2022
- EIN
- 86-0757062
Organization Overview
Heritage Academy Inc is located in Mesa, AZ. The organization was established in 2016. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Heritage Academy Inc employed 237 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. 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 06/2022, Heritage Academy Inc generated $15.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.6% each year . All expenses for the organization totaled $13.7m during the year ending 06/2022. While expenses have increased by 19.0% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE STUDENTS WITH A CLEAN, MORAL, POSITIVE ATMOSPHERE. ENCOURAGE STUDENTS TO MASTER THE PRIMARY AND SECONDARY SKILLS IN THE FIELDS OF HISTORY, MATH, WRITING, LITERATURE, GRAMMAR, READING, AND SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HERITAGE ACADEMY, INC. OPERATES AS A CHARTER SCHOOL FOR GRADES 7-12 IN THE GREATER PHOENIX AREA. THE SCHOOL HAD APPROXIMATELY 1511 STUDENTS ENROLLED DURING THE 2021-2022 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Raymond Jones Director | Trustee | 1 | $0 |
Marie Renard Director | Trustee | 40 | $102,443 |
Jared Taylor Chairman/ceo | OfficerTrustee | 23 | $164,335 |
Heidi Udall Principal | Trustee | 40 | $114,883 |
Eve Seaman Director | Trustee | 40 | $100,268 |
Sandra Johnstun Director | Trustee | 40 | $12,205 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,415,787 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,415,787 |
| Total Program Service Revenue | $12,632,277 |
| Investment income | $1,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,049,784 |
| 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. | $696,780 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,264,727 |
| Pension plan accruals and contributions | $908,000 |
| Other employee benefits | $180,451 |
| Payroll taxes | $560,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,818 |
| 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 | $760,867 |
| Advertising and promotion | $24,205 |
| Office expenses | $44,765 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $602,483 |
| Travel | $334,834 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,850 |
| Interest | $913,414 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $519,321 |
| Insurance | $202,814 |
| All other expenses | $655,101 |
| Total functional expenses | $13,689,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,277,933 |
| Savings and temporary cash investments | $947,369 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $313,091 |
| Net Land, buildings, and equipment | $14,124,479 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,085,792 |
| Total assets | $19,748,664 |
| Accounts payable and accrued expenses | $835,646 |
| Grants payable | $0 |
| Deferred revenue | $204,482 |
| Tax-exempt bond liabilities | $13,269,602 |
| 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 | $384,339 |
| Total liabilities | $14,694,069 |
| Net assets without donor restrictions | $5,054,595 |
| 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 | $19,748,664 |