Heritage Academy
- Assets
- $605.4k
- Revenue
- $794.1k
- Investments
- $0.0
- Employees
- 8
- Location
- Los Altos, CA
- Founding
- 11/2008
- Data as of
- 06/2022
- EIN
- 26-2461552
Organization Overview
Heritage Academy is located in Los Altos, CA. The organization was established in 2008. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Heritage Academy employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heritage Academy 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, Heritage Academy generated $794.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $715.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (5.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE CLASSICAL EDUCATION WITH A CHRISTIAN WORLDVIEW FOR STUDENTS GRADES KINDERGARTEN THROUGH 8TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIGNIFICANTLY INCREASED TEACHER SALARIES TO RETAIN TEACHERS AND INCREASE TEACHERS PRODUCTION & SATISFACTION.
HIRED TWO NEW STAFF MEMBERS TO SERVICE ALL STUDENTS AND GRADE LEVELS.
PROVIDEED INSTRUCTION AND LIVE TRAINING TO TEACHERS REGARDING SCHOOL CULTURE AND STUDENT LEARNING TYPES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kera Pent Principal | Trustee | 40 | $70,000 |
Kathleen Poonen Board Member/secretary | OfficerTrustee | 2 | $0 |
Clif Davidson Chairman/board Member | OfficerTrustee | 2 | $0 |
Marilyn Davidson Board Member | Trustee | 1 | $0 |
Vicky Powers Board Member | Trustee | 1 | $0 |
Lance Westcott Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $111,636 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $111,636 |
| Total Program Service Revenue | $682,493 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $794,129 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $70,000 |
| Compensation of current officers, directors, key employees. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $491,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,498 |
| Advertising and promotion | $0 |
| Office expenses | $12,807 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,741 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $571 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $2,892 |
| Total functional expenses | $715,813 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $605,359 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $605,359 |
| Accounts payable and accrued expenses | $1,609 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $0 |
| Total liabilities | $1,609 |
| Net assets without donor restrictions | $603,750 |
| Net assets with donor restrictions | $0 |
| 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 | $605,359 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Heritage Academy has recieved totaling $18,323.
| Awarding Organization | Amount |
|---|---|
Agape Foundation Charitable Trust San Jose, CA PURPOSE: GENERAL SUPPORT | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,384 |
Booth 10 Foundation Deerfield, IL PURPOSE: TO FURTHER ORGANIZATION'S TAX-EXEMPT PURPOSES. | $2,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $439 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harvard-Westlake School Studio City, CA | $519,427,126 | $134,983,009 |
The Harker School San Jose, CA | $301,623,113 | $112,065,304 |
Taipei American School Foundation Los Angeles, CA | $200,440,067 | $84,912,591 |
Roessler-Chadwick Foundation Palos Verdes Peninsula, CA | $148,653,684 | $85,001,982 |
Antelope Valley Learning Academy Inc Valencia, CA | $39,011,789 | $89,911,071 |
Iolani School Honolulu, HI | $388,589,856 | $96,713,611 |
Valley Christian Schools San Jose, CA | $114,034,879 | $67,792,442 |
Crossroads School For Arts And Sciences Santa Monica, CA | $228,466,642 | $71,695,660 |
Pinecrest Academy Of Nevada Las Vegas, NV | $180,969,815 | $55,227,601 |
Brentwood School Los Angeles, CA | $181,845,528 | $61,517,128 |
Viewpoint Educational Foundation Calabasas, CA | $147,164,644 | $51,317,532 |
Francis Parker School San Diego, CA | $194,908,820 | $57,687,551 |