Precious Hearts Academy
- Assets
- $1.5m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 57
- Location
- San Bernardino, CA
- Founding
- 03/2015
- Data as of
- 06/2022
- EIN
- 47-1215869
Organization Overview
Precious Hearts Academy is located in San Bernardino, CA. The organization was established in 2015. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 06/2022, Precious Hearts Academy employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Precious Hearts 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, Precious Hearts Academy generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 45.0% each year . All expenses for the organization totaled $1.5m during the year ending 06/2022. While expenses have increased by 39.3% 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
PRECIOUS HEARTS ACADEMY IS A SPECIAL EDUCATION DAY SCHOOL DEVOTED TO SERVING K-12 STUDENTS WITH EXCEPTIONALITIES AND THEIR FAMILIES BY PROVIDING AN INDIVIDUALIZED, ENRICHED, TRANS-DISCIPLINARY AND INTEGRATED EDUCATIONAL PROGRAM BASED ON CLINICAL EVIDENCE-BASED RESEARCH STANDARDS TO FACILITATE WHOLE PERSON DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SPECIAL EDUCATION SERVICES TO STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharmel Weerasinghe President | OfficerTrustee | 40 | $175,000 |
Jeevaka Weerasinghe Executive Vice President | OfficerTrustee | 25 | $110,000 |
Daniel E Olson Chairman Of The Board | OfficerTrustee | 1 | $0 |
Christian Iordan Vice President, Public Rel | OfficerTrustee | 1 | $0 |
Francesca Kuruppu Secretary | OfficerTrustee | 1 | $0 |
Edward Field Chief Financial Officer | OfficerTrustee | 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 | $3,117 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,117 |
| Total Program Service Revenue | $1,626,317 |
| 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 | $1,629,434 |
| 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. | $285,000 |
| Compensation of current officers, directors, key employees. | $81,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $900,896 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,019 |
| Payroll taxes | $89,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,588 |
| Fees for services: Accounting | $4,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,493 |
| Advertising and promotion | $6,063 |
| Office expenses | $25,126 |
| Information technology | $13,526 |
| Royalties | $0 |
| Occupancy | $118,845 |
| Travel | $140 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $121 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,468 |
| Insurance | $27,286 |
| All other expenses | $0 |
| Total functional expenses | $1,526,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,129,382 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $348,053 |
| 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 | $24,869 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,632 |
| Total assets | $1,511,936 |
| Accounts payable and accrued expenses | $0 |
| 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 | $89,490 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $89,490 |
| Net assets without donor restrictions | $1,422,446 |
| 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 | $1,511,936 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Precious Hearts Academy has recieved totaling $118.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $118 |
Peer Organizations
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|---|---|---|
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Mirman School For Gifted Children Los Angeles, CA | $47,520,876 | $18,601,911 |
Accel Phoenix, AZ | $21,659,622 | $16,834,387 |
Ecole Bilingue Berkeley, CA | $33,006,768 | $15,759,391 |
H E L P Group West Sherman Oaks, CA | $26,040,794 | $16,433,872 |
Learning With A Difference Inc Encino, CA | $24,959,978 | $17,556,894 |
Charles Armstrong School Belmont, CA | $29,837,306 | $12,609,845 |
Escuela Popular Del Pueblo San Jose, CA | $34,236,937 | $14,055,995 |
Pediatric Therapy Network Torrance, CA | $0 | $12,859,191 |
Institute For Effective Education San Diego, CA | $31,029,793 | $13,927,303 |
Villa Esperanza Services Pasadena, CA | $33,971,130 | $14,047,530 |