Heritage Academy Gateway Inc
- Assets
- $59.6m
- Revenue
- $7.6m
- Investments
- $0.0
- Employees
- 102
- Location
- Mesa, AZ
- Founding
- 08/2016
- Data as of
- 06/2022
- EIN
- 46-4461406
Organization Overview
Heritage Academy Gateway Inc is located in Mesa, AZ. The organization was established in 2016. 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 Gateway Inc employed 102 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Heritage Academy Gateway Inc 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 Gateway Inc generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $7.5m during the year ending 06/2022. While expenses have increased by 11.6% per year over the past 4 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
PROVIDE STUDENTS WITH A CLEAN, MORAL, POSITIVE ATMOSPHERE. ENCOURAGE STUDENTS TO MASTER THE PRIMARY AND SECONDARY SKILLS IN THE FIELDS OF HISTORY, MATH, WRITING, LITERATURE, GRAMMAR, READING, AND SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HERITAGE ACADEMY QUEEN CREEK INC. OPERATES AS A CHARTER SCHOOL FOR GRADES 7-12 IN QUEEN CREEK, ARIZONA. THE SCHOOL HAD APPROXIMATELY 770 STUDENTS ENTROLLED DURING THE 2021-2022 SCHOOL YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Cowles Director | Trustee | 40 | $0 |
Jared Taylor President & CEO | OfficerTrustee | 12 | $0 |
Kathleen Lopez Director - Principal | Trustee | 40 | $118,038 |
Amanda Smith Director | Trustee | 40 | $98,557 |
Stephanie Leavitt Director | Trustee | 1 | $98,687 |
Eric Vogelsberg Chief Financial Officer | Officer | 12 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,223,658 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,223,658 |
| Total Program Service Revenue | $6,637,974 |
| Investment income | $14,264 |
| Tax Exempt Bond Proceeds | -$327,027 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,008 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,557,877 |
| 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. | $315,282 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,185,493 |
| Pension plan accruals and contributions | $409,000 |
| Other employee benefits | $66,223 |
| Payroll taxes | $252,053 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,274 |
| 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 | $390,602 |
| Advertising and promotion | $0 |
| Office expenses | $30,677 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,519 |
| Travel | $137,639 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,265 |
| Interest | $1,627,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $360,290 |
| Insurance | $112,606 |
| All other expenses | $508,352 |
| Total functional expenses | $7,505,415 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,391,580 |
| Savings and temporary cash investments | $11,724,199 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $38,921 |
| 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 | $134,228 |
| Net Land, buildings, and equipment | $41,634,977 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,653,385 |
| Total assets | $59,577,290 |
| Accounts payable and accrued expenses | $5,544,605 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $52,740,004 |
| 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 | $737,339 |
| Total liabilities | $59,021,948 |
| Net assets without donor restrictions | $555,342 |
| 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 | $59,577,290 |