THE GREATHEARTS FOUNDATION INC

EIN: 823809856 501(c)(3) Education

PHOENIX, AZ

Total Revenue
$5,331,829
Total Expenses
$8,426,276
Total Assets
$2,073,889
Net Assets
$1,801,672
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
AZ
Principal Officer
RON ZOROMSKI
Phone
6024387045
Tax Period
2022-07-01 to 2023-06-30

THE GREATHEARTS FOUNDATION INC, founded in 2017, is a community nonprofit in the Education sector that reported $5.3M in total revenue in fiscal year 2022. Revenue fell 45% from the prior year — a significant decline worth monitoring. Expenses of $8.4M exceeded revenue, resulting in a 58% operating deficit.

Mission

THE GREATHEARTS FOUNDATION IS A NONPROFIT ORGANIZATION THAT SEEKS TO INCREASE NATIONAL PHILANTHROPY FOR OUR MISSION AND ACCESS RESOURCES TO ENHANCE THE WORK AND WELL BEING OF OUR STUDENTS, FAMILIES, AND TEACHERS. AS PART OF THAT MISSION, THE FOUNDATION HOUSES THE GREATHEARTS INSTITUTE FOR CLASSICAL EDUCATION WHICH CHAMPIONS THE CLASSICAL, LIBERAL ARTS EDUCATION MOVEMENT AS A WHOLE. FOUNDED IN 2017, THE GREATHEARTS FOUNDATION BELIEVES THAT TO RESTORE AMERICAN PUBLIC EDUCATION WE MUST MAKE THE FOSTERING OF PERSONAL CHARACTER AND MORAL IMAGINATION ONCE AGAIN CENTRAL TO OUR EDUCATIONAL TASK. THE GREATHEARTS FOUNDATION ALSO OVERSEES, AND SECURES THE RESOURCES TO SUPPORT, THE GROWTH OF GREAT HEARTS INTO NEW REGIONS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $5,292,073
Program Service Revenue $7,917
Investment Income $31,839
Other Revenue $0
TOTAL REVENUE $5,331,829

Expense Breakdown

Grants Paid $0
Salaries & Benefits $311,560
Fundraising Expenses $13,251
Program Expenses $8,380,436
Other Expenses $8,114,716
TOTAL EXPENSES $8,426,276

Year-over-Year Comparison

2022 2021 Change
Revenue $5,331,829 $9,688,596 -0.4%
Expenses $8,426,276 $5,991,098 +0.4%
Net Income $-3,094,447 $3,697,498 -1.8%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
3
Independent Members
1
Employees
N/A
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
2
$486,820
Total Directors
3
$486,820
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR DANIEL SCOGGIN CHIEF ACADEM 20.00
Officer Director
$179,050 $25,128 $383,228
DR WADE DYKE FOUNDATION P 40.00
Officer Director
$96,969 $6,623 $103,592
BOB MULHERN VICE PRES/SE 2.00
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 No data No data No data No data
2023 $5,331,829 $8,426,276 $2,073,889 $-3,094,447
2022 $9,688,596 $5,991,098 $4,925,877 $3,697,498
2019 $2,849,396 $2,129,986 $1,305,403 $719,410
Explore More Nonprofits
→Top 100 Nonprofits in Arizona →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare THE GREATHEARTS FOUNDATION INC with other nonprofits in Arizona and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.