Heritage Classical Academy

Analysis

Heritage Classical Academy is a registered charity in United States, based in Pepper Pike, OH. It received its IRS tax-exemption ruling in November 2003, 23 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Heritage Classical Academy reported income of $4.8m and spending of $3.8m, leaving 20% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.6m to $4.8m (+191%), an average of +31% a year. The sharpest change came in the year to June 2020, when income rose by 106%. Over the whole period it spent 74% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heritage Classical Academy sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include School in Rose Valley ($4.8m), Child Development Services of Ottawa County Inc ($4.8m) and Friends of McGill University Inc ($4.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 21% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $122k (3.2% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $4.7m against liabilities of $255k, net assets of $4.4m. It reported 92 employees.