HERITAGE ACADEMY FOUNDATION INC (EIN 731368665) - 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

1990

Legal Domicile

Principal Officer

Mathew Zalk

Phone

9184940953

Tax Period

2024-01-01 to 2024-12-31

HERITAGE ACADEMY FOUNDATION INC, founded in 1990, is a micro nonprofit in the Education sector that reported $79K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $114K exceeded revenue, resulting in a 44% operating deficit.

Mission

Heritage Academy Foundation Inc funds a significant portion of the operating budget of the Mizel Jewish Day School

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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 $0

Program Service Revenue $0

Investment Income $79,052

Other Revenue $0

TOTAL REVENUE $79,052

Expense Breakdown

Grants Paid $100,969

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $113,602

Other Expenses $12,633

TOTAL EXPENSES $113,602

Year-over-Year Comparison

	2024	2023	Change
Revenue	$79,052	$63,041	+0.3%
Expenses	$113,602	$146,146	-0.2%
Net Income	$-34,550	$-83,105	-0.6%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Stan Kessler	None	0	Director	$0	$0	$0
Michael Basch	None	1	Director	$0	$0	$0
Janis Finer	None	1	Director	$0	$0	$0
Sarah Downing	None	1	Director	$0	$0	$0
Shelby Brewster	None	1	Director	$0	$0	$0
Rachel Budavich	None	1	Director	$0	$0	$0
Richard Borg	President	1	Officer	$0	$0	$0
Mathew Zalk	Treasurer	1	Officer	$0	$0	$0
Randee Charney	None	1		$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
2024	$79,052	$113,602	$2,647,406	$-34,550
2023	$63,041	$146,146	$2,489,749	$-83,105
2022	$61,977	$173,033	$2,267,234	$-111,056
2021	$332,823	$14,059	$2,881,718	$318,764
2020	$40,489	$143,323	$2,562,954	$-102,834

HERITAGE ACADEMY FOUNDATION INC