HERITAGE ACADEMY (EIN 010575727) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Tax Period

2023-07-01 to 2024-06-30

HERITAGE ACADEMY, founded in 2001, is a small nonprofit that reported $528K in total revenue in fiscal year 2023. Expenses of $627K exceeded revenue, resulting in a 19% operating deficit.

Mission

THE MISSION OF HERITAGE ACADEMY, A UNIVERSITY-MODEL SCHOOL, IS TO PARTNER WITH CHRISTIAN PARENTS TO PREPARE COLLEGE-WORTHY CHARACTER WITNESSES FOR JESUS CHRIST

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $98,549

Program Service Revenue $428,919

Investment Income $37

Other Revenue $17

TOTAL REVENUE $527,522

Expense Breakdown

Grants Paid $0

Salaries & Benefits $423,094

Fundraising Expenses $6,695

Program Expenses $595,829

Other Expenses $204,221

TOTAL EXPENSES $627,315

Year-over-Year Comparison

	2023	2022	Change
Revenue	$527,522	$536,310	0.0%
Expenses	$627,315	$496,253	+0.3%
Net Income	$-99,793	$40,057	-3.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
OLGA MORRIS	TRUSTEE	4.00	Director	$0	$0	$0
DAVID CURREY	BOARD CHAIR	5.00	Officer Director	$0	$0	$0
PAUL MEINERS	TREASURER	4.00	Officer Director	$0	$0	$0
SHELLEY ARRI	SECRETARY	4.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$527,522	$627,315	$212,684	$-99,793
2023	$536,310	$496,253	$438,078	$40,057
2022	$458,735	$429,077	$414,851	$29,658
2021	$370,720	$394,053	$426,457	$-23,333
2020	$347,640	$359,626	$340,334	$-11,986

HERITAGE ACADEMY