HERITAGE ACADEMY CHARTER SCHOOLS INC (EIN 742823746) - 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

1997

Legal Domicile

Principal Officer

ROBERT DAVISON

Phone

2106590329

Tax Period

2023-09-01 to 2024-08-31

HERITAGE ACADEMY CHARTER SCHOOLS INC, founded in 1997, is a community nonprofit in the Education sector that reported $8.4M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $7.7M left a modest 8% surplus.

Mission

THE MISSION OF HERITAGE ACADEMY CHARTER SCHOOLS, INC. IS TO PROVIDE EDUCATIONAL SERVICES TO STUDENTS IN GRADES PRE-K THROUGH 12 THROUGH THE OPERATION OF OPEN-ENROLLMENT PUBLIC CHARTER SCHOOLS UNDER THE GUIDELINES OF THE TEXAS EDUCATION AGENCY.

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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 $0

Program Service Revenue $8,344,612

Investment Income $3,800

Other Revenue $23,249

TOTAL REVENUE $8,371,661

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,293,522

Fundraising Expenses $8,152

Program Expenses $6,193,152

Other Expenses $2,445,472

TOTAL EXPENSES $7,738,994

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,371,661	$7,501,241	+0.1%
Expenses	$7,738,994	$7,191,351	+0.1%
Net Income	$632,667	$309,890	+1.0%

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

131

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

$125,000

Total Directors

$125,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT DAVISON	VICE PRESIDE	20.00	Officer Director	$125,000	$0	$125,000
DERRICK ARMSTEAD	VP OF OPERAT	40.00	Highest	$100,632	$0	$100,632
RICHARD FENGLER	PRESIDENT	N/A	Officer Director	$0	$0	$0
DR LUIS GONZALES	MEMBER	N/A	Director	$0	$0	$0
DELILAH LOPEZ-LOYA	SECRETARY	N/A	Officer Director	$0	$0	$0
BERTA MARTINEZ	MEMBER	N/A	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
2024	$8,371,661	$7,738,994	$7,149,073	$632,667
2023	$7,501,241	$7,191,351	$6,668,229	$309,890
2022	$8,149,832	$7,357,652	$5,815,149	$792,180
2021	$7,789,736	$6,088,417	$4,804,679	$1,701,319
2020	$7,001,536	$5,865,147	$3,388,847	$1,136,389
2019	$6,447,669	$5,418,003	$2,017,328	$1,029,666
2018	$5,154,097	$4,868,388	$977,628	$285,709

HERITAGE ACADEMY CHARTER SCHOOLS INC