Greathearts Arizona
- Assets
- $267.8m
- Revenue
- $36.2m
- Investments
- $0.0
- Employees
- 2,572
- Location
- Phoenix, AZ
- Founding
- 07/2005
- Data as of
- 06/2022
- EIN
- 20-2036133
Organization Overview
Greathearts Arizona is located in Phoenix, AZ. The organization was established in 2005. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. As of 06/2022, Greathearts Arizona employed 2,572 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greathearts Arizona is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Greathearts Arizona generated $36.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $34.0m during the year ending 06/2022. While expenses have increased by 4.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Greathearts Arizona has awarded 37 individual grants totaling $9,673,037. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
GREAT HEARTS IS A NON-PROFIT NETWORK OF PUBLIC CHARTER SCHOOLS DEDICATED TO IMPROVING EDUCATION NATIONWIDE THROUGH CLASSICAL PREPARATORY K-12 ACADEMIES. A GREAT HEARTS EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREAT HEARTS IS A NON-PROFIT NETWORK OF PUBLIC CHARTER SCHOOLS DEDICATED TO IMPROVING EDUCATION NATIONWIDE THROUGH CLASSICAL PREPARATORY K-12 ACADEMIES. A GREAT HEARTS EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel P Scoggin Vice Chairma | OfficerTrustee | 2 | $0 |
Erik G Twist President (f | Officer | 40 | $200,040 |
Melissa Penniman Academy Supp | 40 | $146,974 | |
Brandon Crowe Superintende | Officer | 40 | $136,610 |
Genevieve Peterson VP Developme | 40 | $148,948 | |
Leanne Fawcett Executive Di | 40 | $139,918 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Chasse Building Team Construction | 6/29/22 | $6,335,281 |
Ukg Inc Technology | 6/29/22 | $1,013,607 |
Sps Architects Llp Construction | 6/29/22 | $636,850 |
Nations Group Llc Construction | 6/29/22 | $1,128,095 |
Veeya Technology | 6/29/22 | $1,188,134 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $679,728 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,972,253 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,651,981 |
| Total Program Service Revenue | $32,178,234 |
| Investment income | $58,390 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$61,229 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,188,185 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,702,403 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $336,650 |
| Compensation of current officers, directors, key employees. | $43,271 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,319,631 |
| Pension plan accruals and contributions | $103,409 |
| Other employee benefits | $1,009,446 |
| Payroll taxes | $579,541 |
| Fees for services: Management | $3,039,016 |
| Fees for services: Legal | $434,981 |
| Fees for services: Accounting | $26,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,403,172 |
| Advertising and promotion | $516,908 |
| Office expenses | $40,519 |
| Information technology | $461,527 |
| Royalties | $0 |
| Occupancy | $1,199,566 |
| Travel | $45,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,008,615 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,383,544 |
| Insurance | $0 |
| All other expenses | $107,612 |
| Total functional expenses | $34,004,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,651,022 |
| Savings and temporary cash investments | $1,498,376 |
| Pledges and grants receivable | $534,516 |
| Accounts receivable, net | -$764,664 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $976,570 |
| Net Land, buildings, and equipment | $193,451,610 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $60,406,420 |
| Total assets | $267,753,850 |
| Accounts payable and accrued expenses | $12,517,934 |
| Grants payable | $0 |
| Deferred revenue | $1,485,738 |
| Tax-exempt bond liabilities | $239,747,532 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,970,314 |
| Total liabilities | $262,721,518 |
| Net assets without donor restrictions | $4,497,816 |
| Net assets with donor restrictions | $534,516 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $267,753,850 |
Grants Awarded
Over the last fiscal year, Greathearts Arizona has awarded $1,702,403 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ARCHWAY CLASSICAL ACADEMYTRIVIUM EAST PURPOSE: EDUCATION | $200,000 |
ARCHWAY CLASSICAL ACADEMYTRIVIUM WEST PURPOSE: EDUCATION | $676,689 |
ARCHWAY CLASSICAL ACADEMY CHANDLER PURPOSE: EDUCATION | $175,000 |
CICERO PREPARATORY ACADEMY PURPOSE: EDUCATION | $100,000 |
ARETE PREPARATORY ACADEMY PURPOSE: EDUCATION | $100,000 |
MARYVALE PREPARATORY ACADEMY PURPOSE: EDUCATION | $300,714 |