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 $18.1m and spending of $15.9m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.1m to $18.1m (+195%), an average of +31% a year. The sharpest change came in the year to June 2020, when income rose by 67%. 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 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within AZ. Charities of a similar size with the same main cause include Naval War College Foundation Inc ($18.1m), STEM Preparatory Academy ($18.1m) and Summit School Inc ($18.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 12% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $723k (4.5% of expenses). Other salaries and wages came to $8.4m. At year end it held assets of $33.7m against liabilities of $26.5m, net assets of $7.2m. It reported 249 employees.