Great Hearts America
- Assets
- $11.4m
- Revenue
- $10.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Phoenix, AZ
- Founding
- 12/2014
- Data as of
- 06/2022
- EIN
- 45-4306715
Organization Overview
Great Hearts America is located in Phoenix, AZ. The organization was established in 2014. According to its NTEE Classification (B02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Hearts America 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, Great Hearts America generated $10.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.9% each year . All expenses for the organization totaled $9.7m during the year ending 06/2022. While expenses have increased by 19.5% per year over the past 7 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.
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 Scoggin Foundation P | Trustee | 20 | $155,346 |
Jay Heiler CEO | Officer | 40 | $406,851 |
Jim Rahn Director | Trustee | 2 | $0 |
Steve Wheeler Director | Trustee | 2 | $0 |
Kurt Davis Vice Chair | Trustee | 2 | $0 |
Megan Beus Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Veeya Technology | 6/29/22 | $831,365 |
First Non Profit Group Insurance | 6/29/22 | $200,600 |
Benjamin J Lindquist Consulting | 6/29/22 | $136,158 |
American Philanthropic Consulting | 6/29/22 | $120,000 |
Squire Patton Boggs Llp Legal Services | 6/29/22 | $127,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,500,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,410,084 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,910,084 |
| Total Program Service Revenue | $5,228,058 |
| 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 | $10,138,207 |
| 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. | $810,058 |
| Compensation of current officers, directors, key employees. | $102,281 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,947,268 |
| Pension plan accruals and contributions | $105,683 |
| Other employee benefits | $520,267 |
| Payroll taxes | $390,648 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $206,654 |
| Fees for services: Accounting | $9,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,440,337 |
| Advertising and promotion | $176,448 |
| Office expenses | $90,595 |
| Information technology | $210,732 |
| Royalties | $0 |
| Occupancy | $116,864 |
| Travel | $236,781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,014 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,694,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,542,782 |
| Savings and temporary cash investments | $0 |
| 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 | $258,168 |
| Net Land, buildings, and equipment | $275,530 |
| Investments—publicly traded securities | $1,988,861 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,363,500 |
| Total assets | $11,428,841 |
| Accounts payable and accrued expenses | $9,487,107 |
| 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 | $49,065 |
| Total liabilities | $9,536,172 |
| Net assets without donor restrictions | $1,892,669 |
| 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 | $11,428,841 |
Grants Awarded
Over the last fiscal year, Great Hearts America has awarded $700,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
GREAT HEARTS AMERICA - TEXAS PURPOSE: EDUCATION | $588,333 |
GREAT HEARTS ACADEMIES PURPOSE: EDUCATION | $111,667 |