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 $6.4m and spending of $6.2m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.9m to $6.4m (+65%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 23%. Over the whole period it spent 102% 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 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within AZ. Charities of a similar size with the same main cause include Epiphany School ($6.4m), Sandhills Classical Christian School Inc ($6.4m) and Stars Education Services Inc ($6.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 10% and program service revenue 88% of the total. Compensation of current officers, directors and key employees was $319k (5.1% of expenses). Other salaries and wages came to $2.8m. At year end it held assets of $16.9m against liabilities of $17.4m, net assets of -$477k. It reported 84 employees.