HERITAGE CLASSICAL ACADEMY (EIN 421568361) - 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

2003

Legal Domicile

Principal Officer

DAVID NEES

Phone

3305481338

Tax Period

2024-07-01 to 2025-06-30

HERITAGE CLASSICAL ACADEMY, founded in 2003, is a mid-sized nonprofit in the Education sector that reported $11.7M in total revenue in fiscal year 2024. The organization ran a surplus of $3.0M, a strong 26% operating margin.

Mission

CLASSICAL CHRISTIAN K-12 SCHOOL WHOSE MISSION IS TO CULTIVATE LIFE-LONG LEARNERS WHO THINK AND LIVE FOR 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 (2024)

Revenue Breakdown

Contributions & Grants $4,183,112

Program Service Revenue $7,255,029

Investment Income $46,038

Other Revenue $190,984

TOTAL REVENUE $11,675,163

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,425,571

Fundraising Expenses $84,826

Program Expenses $7,234,839

Other Expenses $3,238,657

TOTAL EXPENSES $8,664,228

Year-over-Year Comparison

	2024	2023	Change
Revenue	$11,675,163	$12,265,924	0.0%
Expenses	$8,664,228	$5,641,409	+0.5%
Net Income	$3,010,935	$6,624,515	-0.5%

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

134

Volunteers

150

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

$149,323

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN LURTZ	CHAIR, TRUSTEE	2.00	Officer Director	$0	$0	$0
DEREK MANTEL	VICE CHAIR, TRUSTEE	2.00	Officer Director	$0	$0	$0
JOHN ZALLER	TREASURER, TRUSTEE	2.00	Officer Director	$0	$0	$0
AARON SNYDER	SECRETARY, TRUSTEE	2.00	Officer Director	$0	$0	$0
SAM WILSEY	TRUSTEE	2.00	Director	$0	$0	$0
GEORGE OCHENJELE	TRUSTEE	2.00	Director	$0	$0	$0
KIP LEE	TRUSTEE	2.00	Director	$0	$0	$0
JOSHUA WALLACE	TRUSTEE	2.00	Director	$0	$0	$0
WENDI BORKEY	TRUSTEE	2.00	Director	$0	$0	$0
STEPHEN CRAWFORD	TRUSTEE	2.00	Director	$0	$0	$0
DAVID NEES	HEAD OF SCHOOL	40.00	Officer	$149,323	$0	$149,323

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	$11,675,163	$8,664,228	$21,570,800	$3,010,935
2024	$12,265,924	$5,641,409	$17,138,389	$6,624,515
2023	$4,787,206	$3,827,591	$4,675,756	$959,615
2022	$3,599,401	$3,079,800	$3,596,341	$519,601
2021	$2,680,404	$2,126,778	$2,991,954	$553,626
2020	$3,392,862	$1,623,080	$2,768,138	$1,769,782
2019	$1,645,977	$1,339,914	$630,813	$306,063
2018	$872,866	$860,969	$332,562	$11,897

HERITAGE CLASSICAL ACADEMY