Heritage Academy of NC Inc

Analysis

Heritage Academy of NC Inc is a registered charity in United States, based in Apex, NC. It received its IRS tax-exemption ruling in September 2017, 9 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 December 2023, Heritage Academy of NC Inc reported income of $2.4m and spending of $2.3m, spending 96% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $932k to $2.4m (+153%), an average of +26% a year. The sharpest change came in the year to December 2020, when income rose by 32%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Heritage Academy of NC Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within NC. Charities of a similar size with the same main cause include Rochester Beacon Academy ($2.4m), Westfield State University Foundation Inc ($2.4m) and Hope Academy of Charlotte ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.5% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $1,265 (0.1% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $497k against liabilities of $0, net assets of $497k. It reported 155 employees.