Heritage Academy Inc (EIN 273203580) - 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

2011

Legal Domicile

Principal Officer

Paul Stewart

Phone

2085951617

Tax Period

2024-07-01 to 2025-06-30

Heritage Academy Inc, founded in 2011, is a community nonprofit in the Education sector that reported $2.4M in total revenue in fiscal year 2024. Expenses of $2.9M exceeded revenue, resulting in a 22% operating deficit.

Mission

Public Education.

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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 (2024)

Revenue Breakdown

Contributions & Grants $2,337,784

Program Service Revenue $0

Investment Income $52,972

Other Revenue $0

TOTAL REVENUE $2,390,756

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,644,000

Fundraising Expenses $0

Program Expenses $2,693,076

Other Expenses $1,275,854

TOTAL EXPENSES $2,919,854

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,390,756	$2,516,080	0.0%
Expenses	$2,919,854	$2,152,215	+0.4%
Net Income	$-529,098	$363,865	-2.5%

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

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

$114,253

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Christine Ivie	Administrator	40.00	Officer	$101,033	$13,220	$114,253
Shaila Tate	Secretary	1.00	Officer Director	$0	$0	$0
Chris Myhre	Treasurer	1.00	Officer Director	$0	$0	$0
Caitlin Burnham	Member	1.00	Director	$0	$0	$0
Paul Stewart	Chairman	1.00	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	$2,390,756	$2,919,854	$2,552,621	$-529,098
2024	$2,516,080	$2,152,215	$3,030,402	$363,865
2023	$2,449,073	$2,742,248	$2,945,335	$-293,175
2022	$2,366,641	$2,052,382	$1,653,396	$314,259
2021	$2,291,644	$1,926,116	$993,567	$365,528
2020	$1,559,029	$1,630,170	$755,410	$-71,141
2019	$1,875,625	$1,761,919	$713,351	$113,706
2018	$1,454,250	$1,429,569	$556,925	$24,681

Heritage Academy Inc