Heritage Academy Inc

Analysis

Heritage Academy Inc is a registered charity in United States, based in Mesa, AZ. It received its IRS tax-exemption ruling in August 2016, 10 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 Academy Inc reported income of $15.3m and spending of $14.2m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.8m to $15.3m (+221%), an average of +34% a year. The sharpest change came in the year to June 2023, when income rose by 103%. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heritage Academy Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within AZ. Charities of a similar size with the same main cause include Lincoln Charter Academy ($15.3m), University of Central Missouri Foundation ($15.3m) and New Leaf Organization ($15.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $450k (3.2% of expenses). Other salaries and wages came to $5.9m. At year end it held assets of $57.6m against liabilities of $56.0m, net assets of $1.7m. It reported 183 employees.