Heritage Academy Inc

Analysis

Heritage Academy Inc is a registered charity in United States, based in Hagerstown, MD. It received its IRS tax-exemption ruling in May 1969, 57 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, Heritage Academy Inc reported income of $1.4m and spending of $1.3m, spending 88% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $881k to $1.4m (+64%), an average of +10% a year. The sharpest change came in the year to June 2021, when income rose by 28%. Over the whole period it spent 91% 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 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within MD. Charities of a similar size with the same main cause include Hero Inc ($1.4m), Orion Schools ($1.4m) and Network Contagion Research Institute ($1.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 8.8% and program service revenue 90% of the total. Other salaries and wages came to $906k. At year end it held assets of $790k against liabilities of $136k, net assets of $654k. It reported 40 employees.