Precious Hearts Academy

Analysis

Precious Hearts Academy is a registered charity in United States, based in SN Bernrdno, CA. It received its IRS tax-exemption ruling in March 2015, 11 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 2024, Precious Hearts Academy reported income of $2.8m and spending of $2.3m, spending 81% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.4m to $2.8m (+105%), an average of +20% a year. The sharpest change came in the year to June 2024, when income rose by 34%. Over the whole period it spent 84% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Precious Hearts Academy sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within CA. Charities of a similar size with the same main cause include Wilmington School of the Arts ($2.8m), Athenaeum of Philadelphia ($2.8m) and Little Lamb Preschool ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Compensation of current officers, directors and key employees was $285k (12% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $2.2m against liabilities of $74k, net assets of $2.1m. It reported 87 employees.